Employers are using coac hing and mentoring more often as ways to retain high-potential and front-line employees, according to a survey on the most popular ways to retain these types of employees conducted by ClearRock, an outplacement and executive coaching firm headquartered in Boston.
In addition, monetary incentives such as better compensation and benefits are also a top retention method for high-potential and front-line employees, according to the survey.
The top five ways employers are trying to retain high-potential employees are: selecting them more carefully, providing better training, coaching, better compensation and benefits, and improved orientation and assimilation programs. The top five methods employers are using to retain front-line employees are: selecting them more carefully, better orientation and assimilation programs, exit interviews, improved training, and better compensation and benefits.
The top ways employers are trying to retain HIGH-POTENTIAL EMPLOYEES are:
| More careful selection |
63%
|
Flexible work schedules |
42%
|
| Improved training |
61%
|
Tuition reimbursement |
38%
|
| Coaching |
54%
|
Exit interviews |
38%
|
| Better compensation & benefits |
52%
|
Retention bonuses |
27%
|
| Better orientation |
51%
|
Casual dress codes |
24%
|
| Mentoring |
43%
|
Health insurance |
20%
|
The top ways empoyers are trying to retain FRONT-LINE EMPLOYEES are:
| More careful selection |
69%
|
Coaching |
40%
|
| Better orientation |
57%
|
Tuition remibursement |
38%
|
| Exit interviews |
56%
|
Mentoring |
36%
|
| Improved training |
54%
|
Casual dress codes |
28%
|
| Better compensation & benefits |
44%
|
Health insurance |
23%
|
| Flexible work schedules |
44%
|
Telecommuting |
17%
|
High-potential employees are workers who employers have identified as future leaders based on their background, testing, and performance. Front-line employees are workers who are usually a customer's first contact with a business, such as salespersons, customer service representatives, and other sales and support staff.
ClearRock received responses from 94 organizations with operations nationwide.
56% of employers in the survey have implemented new or revised retention programs for high-potential employees, and 52% have implemented new or revised retention programs for front-line employees.
"Companies today are using coaching and mentoring more often as ways to retain high-potential and front-line employees than they did in our 2005 retention survey on the top ways to retain senior-level executives and middle managers," said Annie Stevens, managing partner for ClearRock.
- In ClearRock's 2007 retention survey, 54% of employers are using coaching as a way to retain high-potential employees, and 40% are using coaching as a retention method for front-line employees.
- In ClearRock's 2005 retention survey, just 35% of employers were using coaching as a way to retain senior-level executives, and only 34% were employing coaching to retain middle managers.
"More companies today have decided to grow their future leaders internally, rather than recruiting from outside their organizations, and are making opportunities for employees to develop in their careers further down the organizational ladder and sooner in their careers," said Stevens.
Mentoring is also being used more often as a method to retain high-potential and front-line employees than it was as a way to retain senior-level executives and middle managers in ClearRock's 2005 survey.
- Mentoring is being used by 43% of employers as a way to retain high-potential employees, and by 36% of employers as a way to retain front-line employees.
- In ClearRock's 2005 retention survey, 14% of companies were using mentoring as a way to retain senior-level executives, and 22% were using mentoring as a retention method for middle managers.
- "Mentoring is another example of how more companies are investing in the development of their employees sooner," added Greg Gostanian, managing partner for ClearRock. "Pairing experienced employees with high-potential employees helps to quicken the development of tomorrow's leaders, in addition to promoting retention."