RETENTION:
CHALLENGES & SOLUTIONS
SECTION I: RETENTION AS AN ISSUE IN
ORGANIZATIONS
1. The current availability of skilled manpower in the industries
or fields from which respondents recruit:
| 2.6% |
Abundant supply |
| 35.2% |
Adequate supply |
| 60.2% |
Scarce supply |
2. Long-term availability (through the
year 2001):
| 2.0% |
Abundant supply |
| 29.3% |
Adequate supply |
| 66.2% |
Scarce supply |
3. Significance of retention for respondent
organization:
| 46.0% |
Very significant |
| 27.6% |
Significant |
| 15.3% |
Somewhat significant |
| 7.1% |
Hardly significant |
0.9%
|
Not at all significant |
4. Current concern about retention compared
to last year:
| 23.3% |
Far more concerned |
| 40.6% |
More concerned |
| 28.1% |
Equally concerned |
| 4.5% |
Less concerned |
1.1%
|
Far less concerned |
5. Expectation of importance of retention
next year as compared to current importance:
| 23.6% |
Far more important |
| 41.2% |
More important |
| 26.4% |
Equally important |
| 4.3% |
Less important |
1.1%
|
Far less important |
6. Specific populations within the workforce: turnover, retention
efforts:
| |
Turnover is especially high in this group |
We have special retention efforts in place |
We are considering special retention efforts for this
group |
| Employees younger than 30 |
51.1% |
8.2% |
13.6% |
| Information technology specialists |
36.6% |
24.1% |
15.6% |
| Racial and ethnic minorities |
12.8% |
18.8% |
14.8% |
| Recent hires |
33.5% |
15.9% |
15.6% |
| Women in management/supervisory
posts |
9.7% |
18.8% |
14.2% |
7. Departments and functions where retention
is of greatest concern:
[RESPONDENTS COULD CHECK ONE DEPARTMENT IN
EACH COLUMN]
| |
Department of greatest
concern |
Department of second
greatest concern |
Department of third greatest
concern |
| Information systems &
technology |
48.9% |
14.5% |
8.2% |
| General management |
16.8% |
13.1% |
21.3% |
| Sales & marketing |
11.4% |
16.5% |
13.1% |
| Manufacturing |
9.1% |
6.0% |
6.8% |
| General and administrative
services |
7.4% |
13.4% |
15.3% |
| Research & development |
7.1% |
12.2% |
7.1% |
| Human resources |
5.7% |
6.5% |
9.1% |
| Finance |
5.7% |
8.8% |
10.5% |
| Purchasing, transportation,
distribution |
2.6% |
6.3% |
7.7% |
| Insurance and risk management |
2.0% |
5.1% |
7.4% |
| International |
1.7% |
4.5% |
7.4% |
SECTION II: RETENTION STRATEGIES
1. Retention tools utilized and, if so, their effectiveness on
a five-point scale (5=highest). Note that effectiveness ratings
are from companies that utilize the listed retention tool.
| |
|
|
EFFECTIVENESS
|
|
|
| RETENTION
TOOL |
UTILIZED
IN ORGANIZATION |
RANK |
HIGH
5 |
4 |
3 |
2 |
LOW
1 |
AVG
|
RANK |
| |
|
|
|
|
|
|
|
|
|
| MONETARY
ISSUES |
Pay for performance
|
58.8% |
5 |
13.5% |
30.9% |
36.2% |
9.2% |
3.4% |
3.45 |
12 |
| Stock grants/ESOPS |
21.3% |
15 |
14.7% |
32.0% |
26.7% |
8.0% |
2.7% |
3.57 |
T-8 |
|
WORK
ISSUES
|
Employee empowerment
|
46.0% |
9 |
11.7% |
35.2% |
30.9% |
16.7% |
1.9% |
3.40 |
15 |
| Flexible work arrangements |
56.8% |
6 |
25.5% |
30.5% |
26.5% |
6.5% |
2.0% |
3.78 |
3 |
| Job rotations |
19.9% |
16 |
8.6% |
32.9% |
42.9% |
10.0% |
0.0% |
3.42 |
13 |
|
| WORK-LIFE
ISSUES |
| Child care assistance benefit |
15.6% |
18 |
10.9% |
25.5% |
41.8% |
7.3% |
9.1% |
3.23 |
16 |
| Concierge services |
3.4% |
23 |
0.0% |
33.3% |
16.7% |
8.3% |
16.7% |
2.89 |
21 |
| Elder care assistance benefit |
8.8% |
21 |
3.2% |
16.1% |
38.7% |
22.6% |
9.7% |
2.79 |
23 |
| Extended parental leave |
23.3% |
13 |
25.6% |
20.7% |
34.1% |
11.0% |
2.4% |
3.60 |
7 |
| Financial planning assistance |
23.0% |
14 |
9.9% |
19.8% |
35.8% |
16.0% |
8.6% |
3.07 |
18 |
| Legal assistance benefit |
11.6% |
19 |
7.3% |
17.1% |
39.0% |
14.6% |
14.6% |
2.87 |
22 |
| Matching charitable contributions |
15.9% |
17 |
12.5% |
17.9% |
32.1% |
14.3% |
16.1% |
2.96 |
19 |
| Paid time for volunteer work |
10.5% |
20 |
8.1% |
24.3% |
27.0% |
16.2% |
16.2% |
2.91 |
20 |
| Physical fitness benefit |
31.3% |
12 |
14.5% |
21.8% |
35.5% |
16.4% |
7.3% |
3.21 |
17 |
| Sabbaticals |
7.4% |
22 |
26.9% |
26.9% |
19.2% |
11.5% |
3.8% |
3.70 |
5 |
|
| SKILL
ENHANCEMENT ISSUES |
| Company support for degree |
62.2% |
4 |
21.0% |
35.2% |
24.2% |
7.3% |
5.5% |
3.63 |
6 |
| Employability training |
35.2% |
10 |
21.8% |
34.7% |
32.3% |
1.6% |
0.8% |
3.82 |
2 |
| External conferences/seminars |
78.1% |
1 |
11.6% |
37.5% |
36.7% |
8.0% |
0.7% |
3.54 |
10 |
| Interpersonal skills training |
56.8% |
7 |
11.5% |
31.0% |
39.5% |
12.0% |
1.5% |
3.41 |
14 |
Managerial training
|
66.8% |
3 |
14.0% |
34.9% |
35.7% |
8.1% |
2.6% |
3.52 |
11 |
Professional accreditation
|
32.4% |
11 |
13.2% |
42.1% |
28.9% |
7.0% |
3.5% |
3.57 |
T-8 |
Technical training
|
54.5% |
8 |
24.5% |
39.1% |
27.6% |
2.6% |
0.5% |
3.90 |
1 |
Tuition reimbursement
|
67.3% |
2 |
23.6% |
32.5% |
26.2% |
7.2% |
2.5% |
3.73 |
4 |
|
