New Study Reveals How Firms Are Preparing to Retain Workers as Economy Improves

The silver lining in a lousy economy is employee retention, but as economic prospects brighten, most firms are thinking about ways to retain talent, according to the latest study by the Institute for Corporate Productivity (i4cp) on the subject of organizational turnover and engagement. But that doesn't necessarily translate into big raises for most employees, who have seen few pay raises of late.

In this down economy, the study, the full results of which are now available to i4cp members in both standard and interactive form, found that higher market performing companies are more than twice as likely to offer pay raises to keep key talent from walking out the door than are lower performers.

The study showed that 18% of high-performing organizations have already taken the step of increasing compensation levels to reduce turnover, compared to 7% of lower performers. Over the next six to 12 months, the same ratio of high performers (18%) plan to implement pay raises, while almost a quarter (24%) of lower performers have plans to do so.

Read the full release.