Comments on: Why Retention May Become a Big Issue in 2010 http://thefasttrackblog.com/2009/12/20/why-retention-may-become-a-big-issue-in-2010/ Angie Herbers’s latest Investment Advisor articles Sun, 21 Feb 2010 03:32:21 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Steve http://thefasttrackblog.com/2009/12/20/why-retention-may-become-a-big-issue-in-2010/comment-page-1/#comment-10092 Steve Fri, 19 Feb 2010 13:49:55 +0000 http://thefasttrackblog.com/2009/12/20/why-retention-may-become-a-big-issue-in-2010/#comment-10092 Angie is absolutely right. There are NexGen employees out there that are just waiting for the economic dust to settle and constantly keeping an eye open for better opportunities. Smart firms looking for great employees should start searching now. Angie is absolutely right. There are NexGen employees out there that are just waiting for the economic dust to settle and constantly keeping an eye open for better opportunities. Smart firms looking for great employees should start searching now.

]]> By: Bill Winterberg http://thefasttrackblog.com/2009/12/20/why-retention-may-become-a-big-issue-in-2010/comment-page-1/#comment-8400 Bill Winterberg Mon, 21 Dec 2009 16:11:06 +0000 http://thefasttrackblog.com/2009/12/20/why-retention-may-become-a-big-issue-in-2010/#comment-8400 Angie, I applaud this post! Both firm owners as well as employees (NexGen or otherwise) need to expose this elephant in the room. One point that I'll add is that the firms which are best positioned for recovery are now able to recruit and "cherry pick" the best talent in the area from other firms. These employers of choice have healthy margins, scalable processes and procedures, and an appealing company culture and work environment. Therefore, owners need to be very serious about approaching star employees not only with appropriate retention incentives, but also with a commitment to make changes at the firm to cultivate all employees' career development. Angie, I applaud this post! Both firm owners as well as employees (NexGen or otherwise) need to expose this elephant in the room.

One point that I’ll add is that the firms which are best positioned for recovery are now able to recruit and “cherry pick” the best talent in the area from other firms. These employers of choice have healthy margins, scalable processes and procedures, and an appealing company culture and work environment.

Therefore, owners need to be very serious about approaching star employees not only with appropriate retention incentives, but also with a commitment to make changes at the firm to cultivate all employees’ career development.

]]>