Gilman Partners hosted a roundtable discussion with area CFOs to talk about the trends they’re seeing in attracting and retaining talent. Here are just some of the key takeaways from the conversation:
- Some organizations are becoming increasingly transparent with employees about financials, taking steps to educate workers about what the numbers mean. The education component is especially important when the organization offers employee bonuses based on those metrics.
- Work-life balance is critical to all workers, but is an especially dominant theme with younger employees. Organizations that build a respect for work-life balance into their culture may have less turnover.
- PTO is the benefit younger workers tend to ask about first in interviews.
- One organization has increased retention of skilled workers by formally sharing with them a career advancement plan. By helping them understand how their career can progress with the company, the workers are less likely to go elsewhere for new experiences.
- Awards may be an PR initiative for the organization, but they also build goodwill with employees.
- Some organizations look for “been there, done that” experience when hiring potential employees. Others are incorporating the use of assessments both as a data point in the hiring process as well as to gauge whether leadership development (like executive coaching) is advisable for talent hires.