Training seen as the key to retaining top talent in the workplace

Three out of four managers use training to retain and motivate staff

Most companies would consider making a counter offer to a top-performing employee that resigns

One in four managers say new recruits fail to adapt to corporate culture

Retaining talent
According to the latest International Workplace Survey released today by specialist financial recruitment firm Robert Half International, companies are increasingly turning to training and development as a way to motivate and retain top talent. The survey was conducted with over 2,300 HR and finance managers across 13 countries and provides an insight into international workplace trends.

Globally, 73 per cent of HR and finance managers believe training is the best way to boost retention in the workplace. This is closely followed by career development programmes (37 per cent) and financial compensation (31 per cent). Training courses are most widely favoured in Switzerland (93 per cent) and Luxembourg (91 per cent), while in the Netherlands and New Zealand training appears to be less popular, 58 per cent and 63 per cent respectively.

Across Europe, managers are using a wide range of techniques to help reduce staff turnover. In Germany (28 per cent) and Luxembourg (26 per cent) managers are looking to get employees more involved in team building activities while managers from Spain (44 per cent) and Italy (26 per cent) indicate a willingness to involve staff in company decisions.

Fast facts
57 per cent of firms would consider making a counter offer to a top-performing employee that resigns. This feeling was strongest amongst managers from the Czech Republic (83 per cent) and New Zealand (74 per cent). The majority of managers in Luxembourg (51 per cent) say they would not consider making a counter offer.

Ian Graves, Managing Director Continental Europe, Robert Half International, said:

ìRetention continues to be a priority for businesses across the globe. We are seeing, especially in Europe, that managers are looking at more creative means to engage and motivate staff. Training and compensation remain popular techniques to reduce staff turnover but, what is interesting, is the increasing tendency by finance and accounting firms to get employees more involved in the broader operations of the business.

ìOffering people the opportunity to participate in the business decision making processes provides a real sense of empowerment and means staff feel more valued in their role within the company.î

New recruits
The survey, which also looks at the calibre of new candidates entering the workforce, shows that one in four managers (26 per cent) believe starters fail to adapt to corporate culture during the first three months of their tenure. Managers in Spain (55 per cent) and Luxembourg (42 per cent) are the most likely to see this while in Switzerland and Ireland, managers cite weak communication skills as a more common shortfall, as nominated by 23 per cent and 20 per cent of respondents respectively.

When asked to advise starters in accountancy on the skills that will increase their chance of career advancement, the majority of managers nominate communication skills (13 per cent) and an open minded attitude (12 per cent) as the most important. Interestingly, specialist knowledge and skills in areas such as corporate governance (one per cent), risk management (two per cent) and credit control management (four per cent) are seen to be less important.

Ian Graves, said:

ìThe traditional model of the accountant has changed. Todayís accountants not only need financial acumen but must also find a balance between leadership and managerial skills. This broad requirement means there needs to be a concerted effort by both commercial and tertiary organisations to tailor education and training to meet the needs of modern businesses.î