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The Business Case for Strengthening Employee Retention

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
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  Article Summary  
With the California and national unemployment rates at historically high levels, some companies have adopted the attitude that it’s a “buyer’s market” when it comes to human resources and talent. Therefore, the thinking goes, they don’t have to worry as much about retaining their employees because “they ought to be happy they have a job.”

But this is short-sighted and dangerous thinking. Talent is always in high demand, regardless of economic conditions or the unemployment rate. Companies that aren’t being proactive about attracting and retaining the best and the brightest employees will eventually find themselves at a competitive disadvantage as top talent migrates away from them and toward their competitors.

This article suggests four steps that are helpful in creating and sustaining an employee-centric culture, one that attracts the best employees and makes them want to stay.

Los Angeles and Southern California CEOs and CFOs should be proactive in taking steps to create an employee-centric workplace. Long-term benefits include higher employee retention rates and a healthier bottom line. Business leaders may want to consider talking with an outsourced CFO services firm as these formerly-seated chief financial officers are experienced in providing high-level strategic and financial guidance related to the implementation and ongoing management of employee-centric initiatives.

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