Talent management is a key concern among business owners, yet only 40 percent of businesses transfer knowledge from retiring staff, a Travelers survey found.
Only 60 percent of businesses surveyed reported that they provide employee training. These business practices can help promote a safe and well-trained workforce, Travelers said.
While businesses use a wide range of measures to prevent or mitigate common risks, including talent management, many could be doing more.
The survey found that roughly 2 out of 5 organizations do not safeguard the security of their premises (42 percent), post emergency exit plans (40 percent), or have emergency contact plans to reach employees or their families (39 percent).
Travelers surveyed 1,202 business owners and decision makers, including 493 small businesses (2 to 49 employees), 453 midsized businesses (50 to 999 employees) and 256 large businesses (1,000+ employees) across 11 industry sectors.
Check out the latest Insurance Industry Employment Trends report from I.I.I. chief economist Dr. Steve Weisbart.
I.I.I. facts and statistics on Careers and Employment are available here.