Chalk it up to the improving job market, but only half of advertising and marketing executives are concerned with employee retention, according to a survey conducted last month by The Creative Group.
The survey asked advertising and marketing executives how concerned they were about retaining current staff members if the job market improves. The survey reported 12% of respondents were very concerned and 38% were somewhat concerned. In contrast, 32% of respondents were not very concerned and another 12% said they were not concerned at all about retaining staff members.
“Many companies don’t focus on retention until it’s too late,” said Tracey Fuller, executive director of The Creative Group, in a statement. “Now is the time for firms to ensure top performers feel valued and are fully engaged in their jobs. Those who are respected and have consistently positive interactions with their managers will be more reluctant to leave, even when presented with attractive job offers.”
Turnover can contribute to lower productivity, Fuller said. To help companies retain valued employees, Fuller offered the following tips:
- Show them the money. Employers who offer a competitive compensation and benefits package show employees their work is valued.
- Encourage camaraderie. Employees who have office friends are typically more satisfied and productive. Employers should encourage activities that build rapport among staffers.
- Offer support. Employers should be willing to make concessions when employees encounter personal difficulties.
- Provide praise. Acknowledging staff contributions can go a long way toward enhancing an employee’s morale.
- Give them a break. Give your team a few extra days vacation or close business early on a Friday.
The Creative Group survey was conducted by independent research firms, which included 250 responses. Half of the responses came from advertising executives with the nation’s 1,000 largest advertising agencies and the remaining respondents were senior marketing executives with the nation’s 1,000 largest companies.