While the Big Four accounting firms fiercely compete against each other, they all have one common challenge: the retention of talent. Ernst & Young (No. 5 in The DiversityInc Top 50 Companies for Diversity), PricewaterhouseCoopers (No. 3), KPMG (No. 29) and Deloitte (No. 8) all work hard to recruit Blacks, Latinos, Asians, American Indians, LGBT people, people with disabilities and women, and to keep their best employees from being snatched up by clients.
“When you look at the business community, the landscape is changing. In order to compete, we have to be like our clients—even outpace the demographics of our clients,” says John Zamora, chief diversity officer for Deloitte.
Does your company face similar issues? Are you having difficulty retaining talent, especially from traditionally underrepresented groups?
In this 1,970-word article, “Best Practices on Improving Retention,” DiversityInc presents a collection of best retention practices from DiversityInc Top 50 companies, including Deloitte, American Express (No. 13), AT&T (No. 4) and WellPoint (No. 36). Company leaders who have had to address these gaps weigh in on what has worked to keep their managers engaged.
Strategies and takeaways include:
- How talent-development programs encourage people to stay
- Why diversity plays an essential role in fostering loyal employees and overall satisfaction
- The various types of talent-development programs and which one might work best for your company
- What resources can help identify and nurture talent?
- The purposes that coaching, mentoring and sponsorship serve
- How to best utilize your employee-resource groups for maximum ROI