Managing employee retention a strategic accountability approach

• Main Author: Phillips, Jack J. 1945- (Author)
• Other Authors: Connell, Adele O
• Format: Book
• Language: English
• Published: Boston, MA Alexandria, Va. Society for Human Resource Management 2003; Amsterdam Butterworth-Heinemann
• Series: Improving human performance series
• Subjects: Employee retention; Labor turnover
• Online Access: Click Here to View Status and Holdings.

 During the past decade, employee turnover has become a very serious problem for organizations. Managing retention and keeping the turnover rate below target and industry norms is one of the most challenging issues facing business. All indications point toward the issue compounding in the future and, even as economic times change, turnover will continue to be an important issue for most job groups. Yet despite these facts employee turnover continues to be the most unappreciated and undervalued issue facing business leaders. There are a variety of reasons for this, for example, the true cost of employee turnover is often underestimated. The causes of turnover are not adequately identified, and solutions are often not matched with the causes, so they fail. Preventive measures are either not in place or do not target the issues properly, and therefore have little or no effect, and a method for measuring progress and identifying a monetary value (ROI) on retention does not exist in most organizations.