October 15, 2013 | By Mike Ryan
Are companies using every tool at their disposal to retain their best employees? It’s a question that’s on the mind of CEOs everywhere. Why now? While “net new job creation” has been stubbornly soft, the actual number of monthly “hiring events” has been up significantly. That means that companies on growth trajectories are going out and poaching top talent from competitors.
In the coming months it will be increasingly difficult to hold on to good people. Faced with the possibility of losing them, business leaders are raising wages. According to CareerBuilder’s 2013 hiring forecast, 72% percent of employers plan to increase compensation for their existing employees in the upcoming year. The need to retain talent is the main driver.