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Training Seen As The Key To Retaining Top Talent In The Workplace

Ref. PR-00727

  • Three out of four managers use training to retain and motivate staff
  • Most companies would consider making a counter offer to a top-performing employee that resigns
  • One in four managers say new recruits fail to adapt to corporate culture

According to the latest International Workplace Survey released today [5 February 2007] by specialist financial recruitment firm Robert Half International, companies are increasingly turning to training and development as a way to motivate and retain top talent. The survey was conducted with over 2,300 HR and finance managers across 13 countries and provides an insight into international workplace trends.

Globally, 73 per cent of HR and finance managers believe training is the best way to boost retention in the workplace. This is closely followed by career development programmes (37 per cent) and financial compensation (31 per cent). Training courses are most widely favoured in Switzerland (93 per cent) and Luxembourg (91 per cent), while in the Netherlands and New Zealand training appears to be less popular, 58 per cent and 63 per cent respectively. And 68% of all HR and finance managers in the UK agree that training is the most effective staff retention tool.

Across Europe, managers are using a wide range of techniques to help reduce staff turnover. In Germany (28 per cent) and Luxembourg (26 per cent) managers are looking to get employees more involved in team building activities while managers from Spain (44 per cent) and Italy (26 per cent) indicate a willingness to involve staff in company decisions.

Ian Graves, Managing Director Continental Europe, Robert Half International, said:
'Retention continues to be a priority for businesses across the globe. We are seeing, especially in Europe, that managers are looking at more creative means to engage and motivate staff. Training and compensation remain popular techniques to reduce staff turnover but, what is interesting, is the increasing tendency by finance and accounting firms to get employees more involved in the broader operations of the business.
'Offering people the opportunity to participate in the business decision making processes provides a real sense of empowerment and means staff feel more valued in their role within the company.'

The survey, which also looks at the calibre of new candidates entering the workforce, shows that one in four managers (26 per cent) believe starters fail to adapt to corporate culture during the first three months of their tenure. Managers in Spain (55 per cent) and Luxembourg (42 per cent) are the most likely to see this while in Switzerland and Ireland, managers cite weak communication skills as a more common shortfall, as nominated by 23 per cent and 20 per cent of respondents respectively. 19% of UK managers claimed that their new recruits  biggest fault is that they pay little attention to detail when they first join the company.
When asked to advise starters in accountancy on the skills that will increase their chance of career advancement, the majority of managers nominate communication skills (13 per cent) and an open minded attitude (12 per cent) as the most important. Interestingly, specialist knowledge and skills in areas such as corporate governance (one per cent), risk management (two per cent) and credit control management (four per cent) are seen to be less important. 

Ian Graves, said:
'The traditional model of the accountant has changed. Today s accountants not only need financial acumen but must also find a balance between leadership and managerial skills. This broad requirement means there needs to be a concerted effort by both commercial and tertiary organisations to tailor education and training to meet the needs of modern businesses.'

Document: Workplace Survey - Staff Rentention

Contact Us

For further information please contact:

Michelle Whitman
Robert Half International
Tel : 020 7331 2222
Email : michelle.whitman@rhi.net