Meeting the demands of today's changing business environment requires building and retaining a loyal and motivated staff. But finding and keeping quality employees can pose a challenge.

Today's workers are no longer inclined to stay at one company for the duration of their careers. The most talented professionals often are courted by other businesses, and the effects of turnover can be costly. The time and money it takes to recruit, rehire and retain can quickly cut into a firm's bottom line.

Hiring smart is the first step to developing a loyal, motivated workforce and keeping employee turnover rate at a minimum. Other factors, such as competitive compensation and creating an employee-friendly work environment also play a role. A study commissioned by our firm among executives at the nation's 1,000 largest companies found that, aside from salary, job applicants inquire just as frequently about corporate culture as they do other benefits. The implication is clear: The more enriching your work environment, the more likely you are to retain a staff of satisfied, productive employees.