Why an Employee Retention Strategy Is Crucial

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.

Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.

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