MILWAUKEE, WI--(Marketwired - Jun 3, 2014) -
- When hiring junior employees, skill set, work experience and personality are most sought-after attributes
- The focus Wisconsin-based business owners/executives place on skill set is 6 percent higher than the overall national average
- Almost half (47 percent) of business owners/executives in Wisconsin feel that college graduates are less prepared to enter the workforce today, compared to 20 years ago
BMO Harris Bank released a study today that found that almost half (47 percent) of business owners and executives surveyed in Wisconsin see flexible hours as critical to an effective employee retention strategy. Other strategies (other than a salary increase) seen to be most effective for retaining talented employees in Illinois include:
- Opportunities for education, training and development (35 percent)
- Increased health and dental benefits (30 percent)
- Increased paid vaca tion time (27 percent)
"The Wisconsin marketplace is a fiercely competitive one, and there is a real battle for top talent," said Jeff Ticknor, Managing Director and Head, Commercial Banking, Wisconsin, BMO Harris Bank. "Business owners know that an effective employee retention strategy is as important as ever."
Today's College Graduates
The study found that almost half (47 percent) of the business owners/executives surveyed in Wisconsin feel that college graduates are less prepared to enter the workforce today, compared to 20 years ago.
As for hiring new entrants into the workforce, business owners/executives that are hiring junior employees look for a variety of attributes when considering their ideal candidate:
- Skill set (40 percent)
- Personality traits (35 percent)
- Work experience (28 percent)
- Degree earned and school attended (12 percent)
Notably, the focus Wisconsin-based business owners/executives place on skill set is 6 percent higher than the overall national average of 34 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).