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Money Talks: 70 Percent of Workers Say Increased Salary is the Best Way to Boost Retention

Nearly one-third of employers (32 percent) reported that top performers left their organizations in 2012 and 39 percent are concerned that they’ll lose top talent in 2013. While most workers (66 percent) stated that they are generally satisfied with their jobs, one in four (25 percent) said they will change jobs in 2013 or 2014.

But it turns out employers may be able to retain those valuable workers by offering them what they want most. Seventy percent reported that increasing salaries is the best way to boost employee retention while 58 percent pointed to better benefits.

Other actions workers said employers should take to reduce voluntary turnover include:

  • Provide flexible schedules – 51 percent
  • Increase employee recognition (awards, cash prizes, company trips) – 50 percent
  • Ask employees what they want and put feedback into action – 48 percent
  • Increase training and learning opportunities – 35 percent
  • Hire additional workers to ease workloads – 22 percent
  • Provide academic reimbursement – 22 percent
  • Carve out specific career paths and promote more – 21 percent
  • Institute a more casual dress code – 14 percent

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Stephanie Gaspary

About Stephanie Gaspary

Stephanie is the managing director of content strategy at CareerBuilder, tasked with creating opportunities to share the CareerBuilder story across job seeker and employer channels. Stephanie, a lifelong learner, holds a Master's in Business Administration and a Master's in Management - both from North Park University and a Bachelor's degree in Art from Bethel University. A Minnesotan at heart, Stephanie has lived in Chicago for nearly 20 years, is the doting mother to two wacky german shorthaired pointer pups, looks forward to her morning run *almost* as much as that first cup of coffee and vows to one day live in the mountains.
1 comments
Rajkishor rout
Rajkishor rout

Asked if the time to fill open technology positions had changed compared to last year, more than half the respondents (55%) said it had lengthened (including 16 percent who labeled the change “substantial”). Accounting for the slower hiring process, nearly half the hiring managers (47%) pointed to an inability to find qualified applicants, while another third (33%) cited a desire to wait for “the perfect match.”

Trackbacks

  1. [...] Money Talks: 70 Percent of Workers Say Increased Salary is the Best Way to Boost Retention Nearly one-third of employers (32 percent) reported that top performers left their organizations in 2012 and 39 percent are concerned that they’ll lose top talent in 2013. While most workers (66 percent) stated that they are generally satisfied with their jobs, one in four (25 percent) said they will change jobs in 2013 or 2014. [...]

  2. [...] salaries for new employees. These increased salaries are a great way retain talent–in fact, 70 percent reported increasing salaries is the best way to boost employee retention–but 58 percent also pointed to better [...]

  3. [...] starting pay for new employees. Increased pay is a great way to retain workers — in fact, 70 percent reported increasing salaries is the best way to boost employee retention — but 58 percent also pointed to better [...]

  4. [...] Granted, increasing your compensation offering by 10 percent is nothing to sneeze at; however, when considering how much businesses stand to lose when positions go unfilled or when they hire the wrong people, increasing compensation ultimately might be the more economical choice. (Especially when you consider that it could also be the best way to boost retention.) [...]

  5. [...] indicates that employers are willing to fork over more money to retain top talent and will offer higher salaries to attract top talent. It’s no surprise that you may have to do [...]

  6. Trackback says:

    Good info

    I want to start my own blog but I want a free blogging site that I can video blog on but I also want to be able to do a text blogs on it to? Does anyone know a good site for this?.

  7. Trackback says:

    Maybe…

    Hey,.. My site went down a while ago now, i just need to know how to upload my backup file back onto the site, is it on the dashboard in wordpress or on cpanel or something?.. Thanks..

  8. Trackback says:

    Great

    I’d like to be able to tag blogs I like and have them show on my website. Any suggestions on the best route to take on this. Any input would be helpful..

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  12. Trackback says:

    wow thats great

    I want to know where exactly to paste the code on my template in my blog so that the ‘Digg It’ Button shows up for each and every post of mine… Also If I want to show how many diggs I got on one of my blog post where do I show it? Where exactly do…

  13. Google says:

    Google

    Sites of interest we’ve a link to.

  14. read more says:

    probably wouldn’t be able to tell any

    difference.really, the thing that most people remember is the quality of the article, how helpful it was to them, and how easy it was to read. if all the articles that are submitted under your name are that type of article,

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