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Enhanced Retention

Boomerang will help transform your workplace to
engage and retain your employees.

Attracting skilled employees was a major concern for 58% of CEO's surveyed by Angus Reid Group in 1998. Hanging on to those employees was an even bigger worry cited by 70% of respondents. In fact almost 25% said attracting and retaining high calibre employee was their no.1 concern.
Source: Chidley, J and A. Wahl. March 12, 1999. "The new worker's paradise". Canadian Business. Health Communication Unit at the Centre for Health Promotion, University of Toronto.

Your top asset is valued staff; keeping them on board is vital. There are several present factors that influence the increasing importance of your company's retention.

Labour Shortages

Retaining the employees you already have restricts your need to attract from limited human resources. The Statistics Canada 2006 Census highlights some staggering statistics regarding today’s labour market:

Canada posted the strongest employment growth among the seven major industrial economies between 2001 and 2006, increasing at an average annual rate of 1.7 per cent.
In 2006, 15.3 per cent of the workforce was aged 55 and older, up from 11.7 per cent five years earlier.
Canada’s current jobless rate stands at a modern-day low of 5.8 per cent.

As the baby boomers retire the market will experience a greater shortage of experienced and qualified labour. Employers now face two challenges; encouraging baby boomers to retire later, and enhancing retention programs to keep the remaining workforce (Generation X & Y).

Rising Employee Independence
Many employees today have an independent state of mind; they are less-dependant on their employer. This challenge is best viewed as an opportunity to look after your employees, help them feel engaged, and thus increase their loyalty.

Barbara Moses, PhD writes “It was ever so but, even more, people now understand that nobody will look after them. The only protection they have is up-to-date, in-demand skills, and a flawless performance record. Their organizational value lies in their contributions, not in who they are as human beings”.

Barbara goes on to say “They see loyalty as an exchange; I’m here as long as it feels good, gone when it doesn’t.” Barbara Moses, PhD, The Globe and Mail, pg. C2, January 25, 2008.

Employee Dissatisfaction

“When employees are dissatisfied with their work experience they leave. Organizations see experience and knowledge walk out the door and down the road to their competitors. Consequently, more than ever, employers are recognizing the need to offer more than just 'a job'. Prospective employees are looking for a company that recognizes their commitments both inside and outside the workplace.”

“As a result, work-life programs and policies are tools for companies to recruit and retain skilled employees.” Source: "The Business Case for Work-Life Balance (Benefits and Costs)", Government of Canada, HRSDC.

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Last Updated: June 25, 2010

Enhanced Retention

Boomerang will help transform your workplace to engage and retain your employees.

Boomerang will help transform your workplace to
engage and retain your employees.