IRVINE, CA--(Marketwired - Jun 3, 2014) -
- When hiring junior employees, work experience, references and personality are the most sought-after attributes
- The focus California-based business owners/executives place on personality is a full 14 percent higher than the nationa l average
- 54 percent of business owners/executives in California feel that college graduates are either more prepared or equally prepared to enter the workforce today, compared to 20 years ago
BMO Harris Bank released a study today that found that business owners and executives in California believe that two of the most critical strategies for retaining talented employees, other than a salary increase, are to offer flexible hours and opportunities for education, training and development. Both options were highlighted by 50 percent of California-based respondents.
Other strategies seen to be most effective for retaining talented employees include:
- Options for tele-commuting (29 percent)
- Increased health and dental benefits (25 percent)
- Increased paid vacation time (21 percent)
- Tuition assistance for higher education (21 percent)
"Implementing the right strategies to ensure retention of top talent is very important, and it's not always easy," said Dave Casper, Executive Vice President and Head, Commercial Banking, BMO Harris Bank. "But business owners are making significant progress, adapting their operations to the changing expectations of their employees."
Today's College Graduates
The study found that 54 percent of business owners/executives in California feel that college graduates are either more prepared or equally prepared to enter the workforce today, compared to 20 years ago. Furthermore, when it comes to ideal attributes, business owners/executives that are hiring junior employees look for a variety of attributes when considering their ideal candidate:
- Personality traits (46 percent)
- References/Recommendations (45 percent)
- Work experience (42 percent)
Notably, the focus California-based business owners/executives place on personality is a full 14 percent higher than the overall national average of 32 percent.
The survey was conducted by Pollara with an online sample of 601 American business owners in November, 2013. A probability sample of this size would be accurate to +/- 4%, 19 times out of 20.
About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank or credit approval. BMO Harris Bank® is a trade name used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and CDN $582 billion in assets (as of April 30, 2014)