Training Managers to Improve Employee Retention
Training Managers to Improve Employee Retention
The goal of virtually every business operating today is essentially the same: to make money. When it comes to the fine art of turning a profit, there are as many different factors that influence whether or not a company makes money as there are ways to make it. All successful companies begin by hiring people who best fit the position, and in the modern-day world of business, a considerable amount of time, effort, or money is invested in this endeavor. Once a stellar candidate has been hired, however, it does the company no good if, six months down the road, they quit because the working environment turned out not to be the right fit for them. Employees may leave a company for many different reasons, and many of those reasons frequently stem from a sense of general dissatisfaction with the way they are being managed. All too often, this important aspect of employee turnover gets the attention it deserves only after it becomes a serious problem. Improving managers ' skills by giving them retention-oriented training is one of the most effective ways to reduce turnover, and it also has other benefits that contribute to making the company more successful.
Turnover: The Enemy of Every Business
Reducing turnover is currently a concern for almost every business, but a study conducted by the training firm Talent Keepers, Inc. indicates that in the near future it will become even more vital to a company 's bottom line.
Growth of the U.S. born workforce during the last 20 years was 44%. For the next 20 years that growth will drop to zero. . . The Aspen Institute 's Domestic Strategy Group summarizes it this way: Ignoring the labor and skill shortages "will threaten our productivity and growth, (and) our international competitiveness The combination of slowing labor force growth and slowing skills growth looks particularly ominous." Hanging on to well-performing employees will reach a new level of urgency for
The goal of virtually every business operating today is essentially the same: to make money. When it comes to the fine art of turning a profit, there are as many different factors that influence whether or not a company makes money as there are ways to make it. All successful companies begin by hiring people who best fit the position, and in the modern-day world of business, a considerable amount of time, effort, or money is invested in this endeavor. Once a stellar candidate has been hired, however, it does the company no good if, six months down the road, they quit because the working environment turned out not to be the right fit for them. Employees may leave a company for many different reasons, and many of those reasons frequently stem from a sense of general dissatisfaction with the way they are being managed. All too often, this important aspect of employee turnover gets the attention it deserves only after it becomes a serious problem. Improving managers ' skills by giving them retention-oriented training is one of the most effective ways to reduce turnover, and it also has other benefits that contribute to making the company more successful.
Turnover: The Enemy of Every Business
Reducing turnover is currently a concern for almost every business, but a study conducted by the training firm Talent Keepers, Inc. indicates that in the near future it will become even more vital to a company 's bottom line.
Growth of the U.S. born workforce during the last 20 years was 44%. For the next 20 years that growth will drop to zero. . . The Aspen Institute 's Domestic Strategy Group summarizes it this way: Ignoring the labor and skill shortages "will threaten our productivity and growth, (and) our international competitiveness The combination of slowing labor force growth and slowing skills growth looks particularly ominous." Hanging on to well-performing employees will reach a new level of urgency for
References: Cafolla, L. (2007). Against all odds. China Staff, 13(6), 22-23. Cafolla, L. (2007). Every manager is an HR manager. China Staff, 13(6), 16-18. Smither, L. (2003). Managing employee life cycles to improve labor retention. Leadership and Management in Engineering 3(1) 19-23. Sutton, R. (2007). Building the civilized workplace. McKinsey Quarterly, 2, 30-39. Talent Keepers Case Studies (2006) Shipping and Delivery: Global Shipper Nets 29% reduction in Employee Turnover - Saves $18 Million. Retrieved September 25, 2007 from http://www.talentkeepers.com Employee Retention Headquarters (2001) About Employee Retention Headquarters. Retrieved September 28, 2007 from http://www.employee-retention-hq.com Heathfield, S. M. (2007) Top Ten Ways to Retain Your Great Employees. Retrieved September 28, 2007 from http://humanresources.about.com