Online Newsletter for Call
Rosanne D'Ausilio, Ph.D. Editor and Publisher
Volume XI, Issue 11
Date: November 1, 2005 - Five Factors that Influence Employee Retention
The Bureau of Labor Statistics lists customer service jobs as number four of the top 20 fastest growing occupations. This is supported by the continued growth of contact centers. Datamonitor says North America has 55,000 centers, and forecasts an increasing number through 2007.
What does this mean? It means a higher demand for a larger agent workforce. Yet, the US Census Bureau predicts that over the next ten years the available workforce will be smaller and less experienced.
A recent article identified five core factors that most influence employee retention:
To me #3 and 5 go
together. Training your employees allows them to develop new skills so that
they are prepared for whatever opportunities are either offered to them,
or for which they post.
Why is employee retention so important, yet again? Yes, you’re right. Because of the high cost of training new hires – the cost of turnover.
Is this list telling us anything new, or even anything we didn’t know? No, I don’t think do. As a matter of fact, years ago (and still today) the top 10 motivators for employees list Training and Development in the top 5.
But again there are proven ways to attack turnover, retain employees, reduce your high cost of labor, and support a cohesive, loyal labor force. After all, training is an ongoing process, not an event.
© 2005 Human Technologies Global, Inc. All rights reserved
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