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Increased Benefits and Flexible Hours Critical for Retaining Talented Employees in Kansas, Says BMO Harris Bank Study

LEAWOOD, KS -- (Marketwired) -- 06/03/14 --

  • Nearly 40 percent of Kansas business owners/executives say key employee retention strategies include providing increased health benefits and flexible hours
  • When hiring employees directly out of school, a candidate's skill set is the most sought-after attribute
  • Half of Kansas business owners/executives feel that college graduates are either more prepared or equally prepared to enter the workforce compared to 20 years ago

BMO Harris Bank released a study today that found 39 percent of business owners and executives in Kansas believe that, other than a salary increase, two of the most critical strategies for retaining talented employees are providing increased health and dental benefits and offering flexible work hours.

Other strategies seen to be most effective for retaining talented employees include:

  • Increased paid vacation time (28 percent)
  • Opportunities for education, training and development (25 percent)

"The ability to retain top talent is something that Midwest business owners share with their counterparts across the country," said Chad Rock, Team Lead, Commercial Banking - Kansas City, BMO Harris Bank. "Having an effective employee retention strategy in place can play a critical role in that company's success."

Today's College Graduates

The study found that 50 percent of business owners/executives in Kansas feel that college graduates are either more prepared or equally prepared to enter the workforce, compared to 20 years ago. Only 14 percent of them believe that graduates are more prepared than they were a generation ago, while half think they are less prepared. Furthermore, business owners/executives that are hiring junior employees look for a variety of attributes when considering their ideal candidate:

  • Skill set (43 percent)
  • Work experience or internship (32 percent)
  • Degree earned/school attended (18 percent)
  • References and recommendations (18 percent)

The survey was conducted by Pollara with an online sample of 601 American business owners in November, 2013. A probability sample of this size would be accurate to +/- 4%, 19 times out of 20.

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank or credit approval. BMO Harris Bank® is a trade name used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and CDN $582 billion in assets (as of April 30, 2014).

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