Retention, The Clue to Great Performance [INFOGRAPHIC]

The economic situation of the country has not been easy for many businesses in the last few years. A recession, followed by the European crisis and natural disasters in different parts of the country have hit many people. However, positive expectations from many businessmen and slow but continuous growth in different industries give this 2013 as the best in the past few years.

And it’s small companies who are leading the way when it comes to positive expectations. 70% of small companies expect their financial performance to improve in 2013 compared to 60% of large companies.

In fact, when businessmen were asked if they were considering hiring new employees, 50% said they are looking to grow their staff, that’s 12% more than last year.

But be careful, because if you don’t have a solid retention plan, your company might need a replacement plan instead. During the last 5 years, retention plans have increased in importance and while in 2009 only 28% of the companies were considering it; in 2013 it became a major concern for 53% of the companies.

It’s not easy to replace those talented professionals that are skyrocketing the growth of small companies. 67% of the companies admitted having a hard time to replace a skilled employee and most of them agree that it’s due to a lack of qualified applicants.

If you plan on hiring and growing your business, then you will probably need to find a new office, give us a call or visit OfficeList and we’ll guide you through the search.

The PayScale 2013 Compensation Best Practices Report infographic