Intellectual engagement and a dynamic, exciting atmosphere often help companies retain their staff for longer.
According to new research, Australia might be a one of the most well-positioned nations to offer such an environment. On September 16, Grant Thornton – an independent assurance, tax and advisory firm – released the results of its Grant Thornton Global Dynamism Index (GDI) 2013.
Every year, this ranks the development of business growth environments of 60 of the world's largest economies. It takes into account 22 indicators, such as GDP growth, R and D spend, access to finance, labour productivity, regulatory risk and more.
This year, Australia topped the dynamism ranking with a GDI score of 66.5, followed by Chile, China, New Zealand and Canada.
Last year, Australia was only seventh place and China was lagging behind, 17 positions below their result this year.
"The economy performs strongly in all five categories of dynamism, ranking in the top half of the index for each. It ranks 2 globally for the dynamism of its labour and human capital and 6 for its business operating environment. It moved up from 6 in 2012 thanks to strong increases in labour productivity and real GDP growth," said a report from Grant Thornton.
Does this trend of dynamism going on in our own nation reflect what is happening within your company? Or are things starting to feel sluggish and unproductive?
It might be time to address what's going on within the company. You won't be able to hold onto key staff if opportunities are limited and things are feeling stale. Employee surveys can be a good way to find out what your staff are thinking, which can help you to build your strategy for retention.
Always look to your employees to see if they have any ideas on how you can improve your business. You never know when a new perspective on an issue can enlighten the running of your company.
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