About 74% of privately owned businesses in South Africa are more focused on attracting and retaining staff than a year ago, Grant Thornton’s International Business Report released on Wednesday showed.
”This places South Africa high out of the 34 countries participating in the survey and considerably higher than the global average of +59%,” the company said in a statement.
The company said the attraction and retention of staff was much higher on the global corporate agenda than it was three years ago when +44% of privately held businesses globally reported it to be a key business focus.
”Three out of four privately held businesses in South African have realised the increased importance of attracting and retaining staff that add value to their businesses,” said Leonard Brehm, chairperson of Grant Thornton SA.
Brehm said the market believed that the non availability of a skilled workforce was the greatest constraint to business growth so it was vital to implement attraction and retention strategies.
”South African businesses realise that salaries and reward packages are not the only factor in keeping employees. A good working atmosphere, strong management and being treated well are important. Our lack of skilled workers forces businesses to make themselves more attractive employers.”
Grant Thornton’s 2008 International Business Report was conducted among medium-to-large privately held businesses in 32 countries, polling more than 7 200 respondents. The research was conducted by Experian Business Strategies Limited and Harris Interactive.
In South Africa, research was conducted among 300 privately held businesses that employ between 100 and 400 staff.
Grant Thornton International is an organisation of independently owned and managed accounting and consulting firms. – Sapa