Defining values and career path can drive retention

A company’s culture is evidenced by the actions of its employees, but it's up to a company's leaders to point them in the right direction.
High-performing employees ranked coworkers slightly above salary in terms of importance, followed by interesting work, good working conditions and job security.

Companies had best stay on their toes when it comes to keeping talent, acting with clear values, set at the top by the CEO.

That’s the upshot of a study by The Nielsen Company on behalf of Ceridian, which asked 1,602 employees about their views on work, job hunting and retention.

“Organizations looking to retain their most effective employees need to invest in a culture that will keep them happy,” said Lisa Sterling, chief people officer at Ceridian, in a recent press release. “Work/life balance, opportunity for advancement, and a positive work environment all play a role.”

The survey found that clearly defined values played an important role in leading to better performance. Slightly more high-performing respondents (85%) said their companies had clear values than other respondents (72%). 

A large majority, 90% of those surveyed, said learning and development opportunities were important. For new hires at financial firms—a career path notorious for burnout—training that correlates directly to a career path can drive retention, according to Mark Tibergien, chief executive of Pershing Advisor Solutions.

Tibergien recently told Investment News that financial companies should understand the work they're expecting from a new employee and "train to that."

"We find through studies that what compels young people to stay with a firm is not just the opportunity to learn, but the opportunity to grow, and when you're clear and you can teach to it, it gives people the feeling they are moving forward," Tibergien told Investment News.

The survey indicates that positive relationships with managers and colleagues, along with interesting work, create an engaging professional culture, and if companies can cultivate that, their employees will stay. In fact, high-performing employees ranked coworkers slightly above salary in terms of importance, followed by interesting work, good working conditions and job security.

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