Recent study from KPMG gives some interesting facts around talent development and retention.
No matter the size of your business it is critical to have strong vision, values and a working culture in place. This will ensure there is clear direction and reasons for your talent to be motivated and as a result, retain your top talent.
The majority of mid-sized companies still have an erratic approach to keeping their staff happy despite the high cost of replacing talented team members, according to new research from KPMG. In a study of 223 leaders of mid-sized companies (with a turnover of between £10m to £500m), only 29 per cent of businesses described their approach to talent retention as “formalised”. Meanwhile, nearly half – 44 per cent - said their approach was "thorough but unplanned, with lots of initiatives which were not integrated into an overall strategy". A further 27 per cent admitted their approach was nothing more than ad-hoc.