Mon, 10 Jan 2011
Businesses will fail to retain their best talent if they do not put the needs of their employees first during the economic recovery.
This is according to a new report from StepStone Solutions. which has warned that firms will suffer from under-performance if they do not try to hold on to and nurture their workers.
Research featured in the Companies at the Crossroads report showed that 41 per cent of firms admit they have a shortage of talent within their ranks, while 44 per cent are finding it difficult to take on skilled workers and 50 per cent intend to increase their recruitment over the coming months.
Thirty-eight per cent of chief executive officers believed that trust is high among their personnel, but this opinion was not shared by line managers, as only 16 per cent said that staff are "fully engaged" with the running of the enterprise.
"Right now, businesses are at a crossroads when it comes to their talent," observed group managing director for StepStone Matthew Parker.
He explained that firms can opt to help retain and develop talent, or "ignore the warning signs" and see their skilled workforce gradually decline, resulting in poorer performance.
Flexible working is one practice that companies may wish to consider introducing in order to hold onto their best talent, as a spokesperson for the Trades Union Congress recently stated that this gives workers "a better work-life balance" and helps improve their productivity.
Homeworking and remote working are two methods that can be used, the representative noted.
Based on research of a thousand businesses, read more about how nurturing talent amongst your workforce will help you through the current economic climate. 
Thanks for your help,
The learndirect team