Employee retention is vitally important to successful business
Don’t gamble with your company’s future.

There is a serious shortage of the skilled workers needed to fill many of the crucial jobs in the country today and the shortage is growing dramatically. Projections from the Bureau of Labor statistics forecast a shortage of 10,033,000 workers in the United States by the year of 2010. This is a trend that has already become far too real to many employers in the Fargo-Moorhead area and throughout the state of North Dakota. Many businesses in the Fargo-Moorhead region are positioned to expand; however, they are unable to do so because of the shortage of skilled workers that exists in the area.

Increased Competition Points to a Need for Employee Retention
The competition for good people has intensified and will continue to do so throughout the foreseeable future leading the progressive business leaders to realize the importance of retaining good employees. Employee retention programs will not only assure that companies can keep workers who do their job well, but will also assure that their employees will be around long enough to build continuity with co-workers and with customers.

• Employee Retention Programs will Assist Companies in Identifying:
  • The Five Main Reasons Why People Leave the Company
  • The Demographics and the Differing Work Values of Different Generations
  • The Changing Attitudes of Managers and Workers
  • The Skills Competency Levels of Employees and the Role of Companies in Training
  • The High-Cost of Employee Turnover

Why Companies Must Focus on Employee Retention Issues

• Customers are concerned about the companies they do business with.
  • High employee turnover results in decreased customer service.
  • Business is built on relationships. High turnover results in poor relationships.
• Suppliers are concerned with the strength of companies that buy from them
  • High employee turnover results in higher cost of doing business and reduced cash flow.
  • Uneasy suppliers result in tightened credit terms and limited shipments.
• Investors are concerned with workforce stability.
  • Investors favor corporations with the right people to do the job.
  • Quality employees result in growth in the value of stocks.

Information derived from The Herman Group 2008

“Today’s Progressive Businesses Focus on Employee Retention”

For additional information or to schedule an “Employee Retention Workshop” contact:

Mel Olson
Employee Retention Specialist
Skills & Technology Training Center
701-231-6929
molson@trainfargo.com