Cultivating a Strong Corporate Culture to Attract and Retain Talent
The booming economy and record low unemployment in the United States has many companies struggling to attract needed talent amid tight labor pools. In addition to this talent shortage, the digital age has engendered greater workforce mobility. Using websites like Glassdoor, LinkedIn, Facebook, and others, employees can now easily become aware of other opportunities and find a job that better aligns with their values, goals and interests.
A new survey from CareerBuilder revealed that, while 50% of workers feel like they have a long-term career at their current company, the other half feel like they just have jobs. A surprising 32% of survey respondents plan to change their jobs this year. A recent Labor Department report confirmed that these employees are in fact following through on their intentions – the number of employees voluntarily leaving their jobs is at the highest rate it’s been since 2001. To keep pace with technological advances and remain competitive, companies require an experienced workforce with institutional knowledge to maximize productivity and operational efficiency. Given these trends, employee engagement and retention have emerged as top issues for business leaders.