Why an Employee Retention Strategy Is Crucial

Seventy-seven percent of respondents to a recent survey by Express Employee Professionals, a franchised staffing firm, say that newly hired college grads will leave their jobs within one year. That's a wake-up call for all CEOs and companies challenged to fill positions, particularly in the manufacturing sector.

As business leaders, you likely had a mentor to help you get acclimated when you came on board, and you spent a considerable amount of time getting to know your business units and direct reports. Leadership development is key to CEO success, but so is employee development.

We all need to remember that college students 1) don’t know what they want to do or be, and 2) feel like they have plenty of time to figure it out and have no loyalty to a particular company.

Having a solid strategy for developing and nurturing new employees—particularly those who are recent college grads—is critical for garnering both employee loyalty and maximum productivity.

Unfortunately, “many millennials are taking jobs that they are overqualified for and thus are eager to move on when something better appears,” said Bob Funk, CEO of Express told CNBC.

With an employee development strategy, you will be able to nurture their talents and ensure that your staff feel both appreciated and motivated.

Read more survey findings here.


  • Get the CEO Briefing

    Sign up today to get weekly access to the latest issues affecting CEOs in every industry
  • upcoming events