Britain's businesses are losing talent

Businesses are failing to keep hold of their talented employees

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A survey by Vodafone finds that UK businesses are gradually accepting that they need to plan for IT loss and failure, but are hopeless when it comes to losing staff.

The Vodafone sponsored report, 'What if …? Exploring attitudes towards risk', has highlighted that businesses are attracting the right talent, but aren't retaining the talent, and the business' experience those employees have.

Although one in five employees are reported to be actively considering a job move in the next twelve months, only 29 percent of UK managers say employee defection to another firm is a significant concern. This compares to 59 percent who cite IT systems failure and 36 per cent who list damage to facilities through fire or flood as key concerns.

While respondents accept that talent risks such as employee defection or illness are more probable than environmental risks, for example, only 10 percent of those surveyed say they have robust plans in place to respond to talent loss. In comparison, 37 percent say they that they have such plans in place for the loss of key facilities through fire, flood or similar events.

Peter Kelly, Enterprise Director at Vodafone UK, explains that businesses could improve their retention levels if only they were more flexible: "Businesses must implement new processes and technology to find better ways of working by enabling employees to mobile work securely. Not only does this help companies cut costs but it is also a proven way of attracting and retaining the best talent."

Adding "This research shows that businesses should place a greater emphasis on identifying and managing talent risk as part of a business continuity management strategy."

Vodafone in conjunction with the Chartered Management Institute has created a free Business Continuity Guide to download designed that will help get businesses started with a business continuity plan and help staunch the loss of talent.