Retain Top Talent

Have you ever done a cost analysis of the employee turnover - both employees who leave because they are disengaged and dissatisfied and the ones you fire because you made a hiring mistake?

Investing in improving your hiring and retention processes can have a dramatic cost implication - lost revenue, dissatisfied customers, non-renewal of agreements, new business that goes to your competitors, rework, poor quality, and lower than average productivity.

I'll bet once you put a dollar figure on the cost of turnover, you'll find it very easy to justify the time and investment to improve how you hire and retain people.

I hear this constant debate about managers and leaders. My perspective is that every job at a management level - department head, team leader, director, vice president - has elements of both.

However, where most fail is not around have a strategic vision, and it's not around the inability to technically grasp their job. It's on the people management side of effectively hiring and retaining an outstanding group of people who become a high performing team.

Is that management or leadership?