People
Issue No. 2 - September/October 2001
it pays to hang on to talent
It is a truism in the human resources sector that people are a company's most important asset, so it's surprising how few firms do more than pay lip service to this cliché.
Many companies are guilty of attracting candidates to their organisation, courting them, wooing them, appointing them — and forgetting about them.
“In today’s knowledge-based economy, the importance of the employee transcends brand, capital equipment and even technology,” says Christine Locher, a staff retention specialist and the managing director of Locher and Associates, who also recently set up the Adelaide recruitment office of Bell Personnel.
Although she has recruited staff for more than 20 years, Christine believes today’s astute employers emphasise developing and retaining existing staff.
“Companies are beginning to recognise that employees are human capital that must be invested in, rather than cost items on a balance sheet,” she said.
“Organisations which don’t invest will suffer high attrition rates, which in turn impact on profit, productivity and staff morale.”
Christine believes firms would do well to audit the staff skills available internally and develop them, rather than constantly recruit staff from outside.
“In the main, people are motivated by recognition; learning, the potential to learn and development of their skills; and a clear sense of direction,” Christine s...
