HR Faces New Challenges
As U.S. companies tighten their belts and cut costs, HR personnel have a different concern—how to retain employees in a down economy.
Until recently, companies offered compensation as a means of employee retention. And according to a Pulse on Leaders study released on September 23 by the Personnel Decisions International (PDI), most organizations still focus on compensation as an employee retention tool, despite development opportunities being recognized as the most effective tool.
Tommy Daniel, senior vice president, PDI, said on the company’s website that focusing on the right retention tool is more important than ever as developing the "best and brightest” can give organizations a competitive advantage.
“We advise companies to prioritize their retention strategies, identify key talent pools and make strategic choices that help keep high-performing employees engaged and committed,” Daniel said. “Even in a tight economy, there are steps that companies can take that make a big impact without costing money.”
Some PDI recommendations include senior leaders talking individually with employees to communicate their value to the company and investing in developmental opportunities.
The Argyle Executive Forum also recognizes the new set of challenges that the human capital leader faces today. As a result, it will offer key retention and development opportunities when it hosts its 2008 Human Capital Leadership Forum tomorrow in New York City. Topics include: best practices in finding and retaining quality employees, transforming human capital through a shift in the business model, and overcoming challenges in leadership development, among others.
For more information: http://www.execforum.net/events/eventimages/10.02.08/main.html
