Provide Career Development to Keep Talent

Employers are advised to devise a comprehensive retention strategy and career development tactics in order to keep top talent in their company.

According to Robert Half’s 2010 Workplace Survey, 90% of employers interviewed are currently concerned about the huge number of finance and accounting staff leaving in light of the improving economy. The survey shows that more than 70% of Hong Kong professionals believe that they can get a better pay if they change jobs.

Andrew Morris, Director of Robert Half Hong Kong, advised employers to consider retention plans to reduce voluntary turnover. He said, “Companies need to make a pre-emptive strike now to hang on to key staff. Keeping top talent committed to the company requires a comprehensive retention strategy and tailored career development tactics that goes beyond financial rewards.”

The survey shows that opportunity for career development is the most important factor (59%) to consider in changing jobs. For respondents who said they were not looking for a new job during the survey period reported that their company focused on their career development during the economic recession (54%).

“Job advancement, recognition, leadership and support are key aspects in enhancing employees’ morale and overall job satisfaction which can in turn maximise their loyalty. To stay competitive, companies must invest in training opportunities and take an interest in staff’s career goals,” Morris commented.

The survey was conducted between January and February 2010 in Hong Kong, Singapore, Australia and New Zealand covering 1,281 HR, finance and accounting professionals. A total of 310 professionals were interviewed in Hong Kong. The survey shows that Hong Kong employers were more concerned than other leading financial cities in the Asia Pacific region about losing staff, with 87% of Hong Kong employers indicating their concern, compared with 70% of Singapore employers, 55% of Australia employers and 26% of New Zealand employers.

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