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A sea of e-business talent, but for how much longer?

first_imgA sea of e-business talent, but for how much longer?On 20 Aug 2002 in Personnel Today The time to manage and motivate your e-business staff is now, during thedownturn, not when it is too late, says a recent surveyCompanies should be acting now to put the correct retention strategies inplace to identify and retain their best talent, says Mercer Human ResourceConsulting after conducting a survey which examined recruitment and retentionissues, together with pay and benefits in the UK e-business sector. It shows that e-business staff will again be in major demand when theeconomy improves. Brenda Wilson, senior consultant at Mercer says: “Manye-business staff have been laid off in the economic downturn. The tide hasturned and firms have a sea of talent to choose from. “They should beware that, when the economy picks up, however, theseemployees could again be in hot demand,” she adds. Seventeen organisations took part in the 2002 UK E-talent Compensationsurvey, most of which were parent companies with more than 5,000 employees. Itfound that, in the next 12 to 18 months, providing opportunities for careerdevelopment is perceived to be the most crucial factor in the battle to keephold of staff. “Training in this sector is particularly important, because technologychanges so fast and staff need to ensure their skills are up-to-date,”says Wilson. “Companies that invest in career development are more likelyto retain staff.” As well as the importance placed on training, 64 per cent of organisationsthought that having work-life policies in place helped retain staff and morethan half (55 per cent) felt that offering decent benefits kept employeesengaged in an organisation. More than half also said bonuses were an importantretention tool and they would become increasingly significant in the future. When it came to attracting staff, 64 per cent of companies said base pay wasan important issue, while over 36 per cent said bonuses helped attract staff.The feeling was that the emphasis could move slightly away from this tovariable pay in 12 to 18 months time, with 25 per cent believing bonuses wouldbe a vital part of the reward package. In the period 2001-2002, average salary increases in e-business was four percent for executives and general employees compared to an average 5 per cent in2000-2001. Next year it looks set to fall further to around 3 per cent. Themedian rate for a top technical e-business manager is £80,000, while a seniorweb developer can expect to earn £45,350 and a web content specialist £25,250(see table). Web developers and technical sales staff were the only rolesidentified as being difficult to recruit for. Becca Benton, Wilson’s colleague and talent management specialist at Mercer,believes identifying in-house e-business talent in the first place will also bekey to organisations. “It’s a case of really knowing who your best peopleare and those organisations that have the correct HR processes in place toidentify the talent internally will win out,” she says. “The purpose of a talent management approach is to identify thoseemployees who create the most value for the organisation and to maximise thatvalue through the management, development and retention of those starperformers. In the technology sector, the challenge will be to ensure thattalent has been identified and is being managed now before the sector picks upand attrition increases. “Star performers will contribute three times the value of a non-starperformer so it makes business sense to manage and retain them.” The report costs £1,500 and is available on 01753 848071. Related posts:No related photos. Comments are closed. Previous Article Next Articlelast_img

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