A 2015 Deloitte survey of more than 3,300 human resource leaders in 106 countries found that “culture and engagement” was viewed as the most important challenge facing companies. This response edged out the perennial top concern of developing leadership.
The reason “culture and engagement” ranked first is because employee recruitment and retention is becoming an increasing challenge for employers. This is due to two primary reasons: (i) an expanding economy and job market and (ii) a vastly changed benefit structure and the advent of the consumer internet (we call this “changing times”).
With experts estimating that it can cost twice as much as an employee’s salary to recruit, hire, and train a new worker, the financial impact of these challenges are very real.
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