To keep top talent, spell out your firm's career tracks

07/4/2013 | Financial Advisor online

Helping your firm's employees get on a career track improves your chances of retaining top talent, writes Philip Palaveev, CEO of The Ensemble Practice. Firms should define what career tracks are available to employees; those might include lead adviser or partner. They should also define what compensation packages will look like and consider whether a career-track advancement necessarily involves bringing in new business to the firm, Palaveev writes.

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