It's just anecdotal at this point. It will be months before we have definitive data on internal employee turnover, but the grapevine suggests that the staffing industry has started playing musical chairs. Employees are taking the leap to other jobs.
So, what does this mean for the staffing industry? It means that it's on the rebound, back on track for solid growth -- and the war for talent is on. It means that it's time to be nice to your employees, to your top performers, as there are now plenty of great opportunities beckoning them.
As it happens, taking care of your employees is a win-win situation anyway. Happy employees, funnily enough, tend to treat customers better, which in turn means more revenue. Additionally, we all know the costs associated with training a new employee, right? Employee retention is also critical to building lasting relationship with clients.
This is not just speculation. Data from Staffing Industry Analysts indicates that consistently profitable staffing firms have one thing in common: they put their internal employees first. This includes creating a positive company culture, providing employees with a growth path, helping them upgrade their skills continuously and of course offering competitive compensation plans.
Want more information about how to keep employees happy and engaged? You can get some good advice here: Life Lessons on Best Staffing Firms to Work For.
Also, you can hear more about taking care of your employees directly from some of the top companies featured in our "Best Staffing Firms to Work For" competition, the winners to be announced at our upcoming Staffing Industry Executive Forum in Miami. The conference will be held from Feb. 28 through Mar. 3, and we will have two sessions discussing innovative ideas to retain your people.
Until then, remember ... be nice!