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Business Resource Center

People: The most important asset

Most organizations are talking about retention these days. Despite the recent shift in the economy, it is still crucial for companies to retain their top talent.

What employees value in their work can often be very different from what their employers think they value. With that in mind, The Society of Human Resource professionals recently gave the following suggestions for improving employee retention:

  • Allow employees to develop additional job skills. Provide continuing training or educational reimbursement.
  • Make work meaningful and challenging. Adding increased responsibilities demonstrates trust.
  • Actively work to improve employee morale by, among other things, holding managers accountable for treating employees with respect.
  • Pay competitive wages, but don't overdo it. Most people won't stay at a job they're unhappy in, no matter how well they're paid.
  • Reward your employees for their performances and efforts.
  • Beef up your benefits, particularly retirement and health plans.
  • Head off potential problems at the pass by encouraging open communication.
  •  Appreciating Cultural Differences Makes Good Business Sense

Visit our previous Features of the Quarter.

M&T's Business Resource Center is provided as a free service. It is intended only to be a convenient resource to enable M&T customers to access general information on topics that may be relevent to their respective businesses. M&T is not the author of articles and other posted information found in the Business Resoruce Center section of the website, nor does M&T necessarily endorse the opinions or suggestions contained therein. M&T makes no representation or warranty of any kind as to the applicability of any information herein to any particular person or business.

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