Top 3 Business Challenges in 2010

There has been plenty of talk lately about the changes businesses will need to make, to experience growth in 2010 – and beyond.

The Conference Board’s 2010 CEO Challenges Survey reflected a shift into post-recession initiatives nationwide. The item at the top of their list was not surprising: Business growth basics – the same as before the recession, but what does this entail.

Execution, Consistency, Top-Line Growth, Customer Retention and Stimulating Innovation

Cutting Edge Recruiting Solutions Founder, Andy Cohen, has listed 3 critical areas which business leaders will need to gain a better understanding of, in order to grow this year and position their organizations for the future…

  • Employee Retention
    This will continue to be one of the toughest challenges for leaders. According to the Bureau of Labor Statistics (BLS.gov) this is the first time since late 2008 that the number of employees voluntarily quitting has surpassed the number being discharged or fired. This is significant as recent sentiment indicates that this will continue in the coming months.According to a survey published in the May edition of the Harvard Business Review, 25 percent of companies’ top performers said they plan to leave their current job within a year. The survey questioned 20,000 workers who were identified by their employers as “high potential.”Are you at risk of losing your key employees?
  • Talent Management
    If the reports are true and employee disengagement is on the rise, when 25% of your Key Contributors, Mission Critical players and Next level leaders become the departed, how will you execute and maintain your competitive edge?Execution is critical in today’s competitive market; therefore, talent management is critical to growing your organization. Bob Parsons, CEO & Founder of Go Daddy says, “measure everything of significance, anything that is measured and watched, improves”. This includes your employees’ performance.Are your disengaged or problematic employees putting you at risk of losing your best customers?
  • Talent Acquisition
    Combining all of the statistics from The Harvard Business Review, BLS, as well as various polls and employee surveys has left many leaders wondering if the “War for Talent” has already begun. The answer is YES!Having the right people, in the right place, at the right time, and with the right skills is the recipe for growth both in 2010 and for the future. The reshuffling of the workforce is your opportunity to engage a passive jobseeker who will impact your organization.Leaders across all industries, at some point have been held hostage by their under-performing staff simply because they did not have the pipeline of candidates to choose a replacement. Now is the time to build that pipeline, so you can employ the best and brightest as the market is turning.