Retain Talented Financial Professionals More Effectively Focused Hiring Practices

November 1, 2012
Retain Talented Financial Professionals More Effectively Focused Hiring Practices

In this year’s July/August issue, the Harvard Business Review published a study that focused on “high-achiever” professionals in their 30s.

The researchers behind the study, Monika Hamori, Jie Cao and Burak Koyuncu, interviewed 1,200 of these individuals regarding their job search behavior. Specifically, the young professionals were asked about the activities they engaged in when they were already employed.

Among the participants in the study, 75 percent said they “sent out resumes, contacted search firms and interviewed for jobs at least once a year during their first employment stint.”

Furthermore, 95 percent reported that they regularly engaged in “activities such as updating resumes and seeking information on prospective employers.”

Retaining talent more effectively requires a focus on “fit” in the hiring process

In this area, there are many suggestions bandied about by media commentators, but a great way for a company to approach the challenge of talent retention is to focus on hiring professionals who are not only qualified for their positions, but offer a good fit with the company’s established organizational culture. This is a proactive policy that can do more to secure the loyalty of high-achieving professionals than any retroactive strategies for improving employee engagement.

Today, it is even more important to ensure that new hires will be able to effectively settle into their positions, as online job searching tools have made it easier for talented professionals to conduct non-stop searches, even while they are employed. Given the spread of Web-based social and professional networks, this effect will most likely continue to be amplified in the future.

Recruitment firms help a business evaluate and recruit well-suited candidates through a targeted financial professional search.

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