Telecoms firms let best staff slip through fingers

first_imgTelecomsfirms are poor at recruiting and retaining high standard employees, accordingto a report.Thestudy by HR consultancy Watson Wyatt reveals that most telecoms companies havehuman resources practices that provide good value to shareholders, but are notgood at attracting and keeping the best employees.DougRoss, Watson Wyatt partner and co-author of the firm’s European Human CapitalIndex, said, “It shows that many telecoms companies do not have clear policiesfor retaining their better performing employees. “Theytend to have HR policies which encourage the retention of both good and lessgood performers within the organisation. Our research suggests that this willhave a negative impact on their financial performance.”VirginMobile’s HR director agreed. Lily Lu said, “The telecoms industry has been poorin the past in keeping good employees happy, but I do believe that the industryis improving.”Thestudy also shows that a significant improvement in key HR practices hascontributed to an increase of more than a quarter in telecoms companies’ stockmarket values.Lusaid, “Staff incentives and reward schemes are now commonplace within theindustry. At Virgin we have a bonus system that every employee is part of.Individual bonuses depend on the companies performance as well as theindividuals.”Mobilephone giant Orange dismissed the report’s findings and claims that it does notsuffer from the retention and promotional problems highlighted by the survey.Aspokesperson said, “We employ a number of strategies designed to attract andretain good staff. The company has a commitment to providing careerdevelopment, exciting and varied opportunities and good rewards. This hasensured that Orange has not experienced problems in retaining staff.”TheHR policies in telecoms companies that help recruit and retain good staffinclude sharing information, well-integrated leadership practices andconsistent pan-European HR practices, claims the report.TheWatson Wyatt European Human Capital Index is based on a study of 200 companiesacross Europe. www.watsonwyatt.comByPaul Nelson Comments are closed. Previous Article Next Article Related posts:No related photos. Telecoms firms let best staff slip through fingersOn 20 Mar 2001 in Personnel Todaylast_img