Replacing Workers Who Walk NowIs a Bigger Drain on the Bottom Line
Hold on to your employees for dear life. Burgeoning markets and corporate growth across the construction industry are turning a once-loyal work force into an endangered species. As job opportunities and salaries soar in a people-strapped business, firms are more hard-pressed these days to keep their employees, particular managers, in place.
Some companies claim staff turnover rates are still under control, but others say the cost impact is growing and not just for those at the very top. To slow the flow of expense and erosion of the corporation's knowledge and client base, firms are taking more creative and deliberate steps to retain, motivate and groom their best talent. Higher pay is becoming a more critical carrot, but that is only part of the new work force strategy.