Mind The Gap: A Guide To Talent Retention

We recently referenced a study from Manpower Group about job talent. The study was based on data from 1,300 respondents and the following key findings were identified.

  1.  Employers stated that applicants in general lacked the skills and experience required to successfully complete job duties and responsibilities for open positions.
  2.  Employees expected higher pay than the salaries offered by employers.
  3.  The top five consistently hardest  jobs to fill are:
  • Skilled Trades
  • Sales Representatives
  • Engineers
  • Drivers
  • Accounting and Finance Staff

There is a gap between employers and potential employees regarding the expected applicant skills and experience and expected compensation based on the Manpower Group Study.   Most likely, this is a resulting gap of talent depletion from employees leaving one employer for another that offers a better compensation package and career opportunities.

We conduct annual and/or bi-annual market studies and annual internal job and pay comparative analysis for our clients to reduce or eliminate employer and employee gaps with employee capabilities expectation, pay for performance and compensation expectations.

Back-filling position gaps resulting from higher levels of voluntary terminations through continuous recruitment and placement efforts is a very expensive tangible and intangible employment disposition.

Address your potential talent shortage and talent retention  gaps by implementing our proactive compensation management processes with DBSquared’s proven and very productive software called DBCompensation.  Our clients have gaps they can hurdle while employers utilizing reactive compensation management strategies have canyons to cross either by mule which is slow, or by helicopter which is efficiently expensive.