Why Paychecks Aren't Enough

Five things you must do now to retain ALL your top talent.


Don't be fooled by all their late nights and hard work: Your employees WILL leave you. And if they come from underrepresented groups, they'll probably leave faster.

With today's average tenure of employees down to two years or less, employers need to take it up a notch if they want retain top performers. And that means offering more than a paycheck.

To keep your best and brightest staffers—especially women, Blacks, Latinos, Asians, American Indians, LGBT people and people with disabilities—you'll need to foster a diverse and inclusive workforce that invests in developing its talent.

"Retention Best Practices:Why Paychecks Aren't Enough" outlines five best practices from several companies that have been recognized as The DiversityInc Top 10 Companies for Recruitment & Retention. Companies include Sodexo (No. 2 in the DiversityInc Top 50), KPMG (No. 22) and Wells Fargo (No. 33).

Readers will learn valuable insights such as:

  • How Sodexo uses six resource groups to their fullest extent
  • Why strong formal mentoring programs are on the rise at KPMG
  • Why Wells Fargo makes leadership training an integral part of its corporate culture
  • Which online tools helped KPMG to enhance its employees' career paths

Read Recruitment Best Pracatices: Why Paychecks Aren't Enough.

For more talent-development and mentoring strategies to retain employees, read Networking & Sharing on ERGs, Diversity Councils, CEO Commitment, Talent Development, Mentoring.

Achieving Gender Balance in Senior Leadership

Leaders from Novartis, Sodexo, Johnson & Johnson and Marriott International provide insights into critical factors that enabled their companies to make progress in gender balance in senior leadership.

Novartis, J&J, Marriott and Sodexo have made significant progress in increasing women representation in senior leadership. Four years ago, these four companies, on average, had 13% and 6% more women in levels 2 and 3, respectively (one and two levels below CEO and direct reports), than the Top 50. Now, they have 25% and 36% more women in those levels than the Top 50.

This panel discussion from the 2017 DiversityInc Top 50 Learning Sessions will give you insights into critical factors that enabled these companies to make progress in gender balance in senior leadership.

Panelists:

• Caryn Parlavecchio, Head of HR and US Country Head HR, Novartis Pharmaceuticals Corporation

• Wanda Hope, Chief Diversity Officer, Johnson & Johnson

• Marisa Milton, Regional VP Human Resources, Marriott International

• Moderator: Sandy Harris, Vice President, Global Diversity & Inclusion, Sodexo

3 Case Studies on Leveraging ERGs for Talent Management

AT&T, Dell and Toyota Motor North America are three companies leading the way in evolving their resource groups and leveraging them in innovative ways, for business results.

In this panel discussion from the 2017 DiversityInc Top 50 Learning Sessions, executives from AT&T, Dell and Toyota Motor North America discuss how they utilize their resource groups for workforce skills transformation, increasing employee engagement and productivity and recruitment.

Panelists:

Janice King, Executive Director – Workforce Diversity, AT&T

Erin Kitchen, VP of Global Diversity & Inclusion, Dell

Adrienne Trimble, General Manager, D&I, Social Innovation Division, Toyota Motor North America

Moderator: Shane Nelson, VP, Major Accounts, DiversityInc

Developing Future Leaders Through Your Executive Diversity Council

This panel discussion from the 2017 DiversityInc Top 50 Learning Sessions will give you insights into how to develop future leaders through your executive diversity council.

EY, Wyndham Worldwide and TD Bank are exceptional at utilizing their executive diversity councils to effectively manage diversity and inclusion. The councils set and implement D&I strategy and hold the organizations accountable for results, but they also serve as conduits for development of future leaders.

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National Hispanic Heritage Month Timeline and Facts & Figures

How can Latinos, one of America's fastest growing demographics, influence your business success? View our Hispanic Heritage timeline and facts to find out.

National Hispanic Heritage Month is celebrated annually from Sept. 15 to Oct. 15 by recognizing the history, culture and contributions of Latino Americans. Hispanic Heritage Week was commemorated in 1968 by President Lyndon Johnson and expanded to a month in 1988.

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Mentoring Success Recipe

Abbott talent vice president offers best practices including involvement from the top, formal tracking and an egalitarian approach.

Abbott talent vice president offers best practices including involvement from the top, formal tracking and an egalitarian approach.

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Diversity 101: Definition of Diversity-Management Best Practices

Diversity management is essential to your company's success. This primer provides an in-depth roadmap to build successful diversity initiatives.

What Is Diversity Management?

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32 Worst States for Transgender Equality

Despite increasing awareness and visibility of transgender people, a majority of states scored poorly on transgender equality, which has implications for future labor recruitment.

Glynnis Jones / Shutterstock.com

(Update: 10:54 a.m. 6/5/2015) Correction: Map and report were released by the Movement Advancement Project. Changes reflected in the text.

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