While staff retention wasn't a big issue in 2009, I believe it will be again as our industry rebounds in 2010.
As I stated in my article, "Retaining Your Best and Your Brightest" for PRSA's Public Relations Tactics, "Staff departures can have tremendous impact on company or department performance due to knowledge loss, the stress of managing the departed staffer’s responsibilities until the replacement starts and inevitable inefficiency as the new staffer learns the job. The departure of a key staffer also often encourages others to contemplate a move.
Any of these consequences can result in one of the most dreaded conclusions: dissatisfied clients."
Here's a preview, followed by a link to the article:
The rewards of retention: Retaining your best and your brightest
August 6, 2007
Copyright © 2007 PRSA. All rights reserved.
By Ken Jacobs
Editor’s note: The following article, which appears in the August issue of PR Tactics, is based on a presentation the author gave to PRSA’s New Jersey Chapter earlier this year.
One issue causing PR leaders to lose sleep these days is how to retain their best and brightest staff members. If you’re not committing resources, time and attention to staff retention, remember that investing in keeping staff is far less expensive than replacing them, which is estimated to cost from one-third to 1.5 years of a departing staffer’s annual salary, according to studies by both the U.S. Department of Labor and Merck.
In addition to hard costs, staff departures can have tremendous impact on company or department performance due to knowledge loss, the stress of managing the departed staffer’s responsibilities until the replacement starts and inevitable inefficiency as the new staffer learns the job. The departure of a key staffer also often encourages others to contemplate a move. Any of these consequences can result in one of the most dreaded conclusions: dissatisfied clients.
Because of this, many companies are implementing proactive staff retention steps. The rewards include minimized recruiter fees; a more manageable salary/benefit nut; efficient, enthused and dedicated teams; and, most important, satisfied clients. Having a reputation as a great place to work can help attract new talent — another sleep-depriving issue for our profession.
Successful retention is driven by: 1) management that listens, 2) regular communications and feedback, 3) an involved staff, 4) competitive compensation, 5) a clear vision, 6) training and 7) a fun workplace.
To read "Retaining Your Best and Your Brightest" in its entirety, just click on the link below: