Retain Top Talent
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Retain Top Talent
Hiring top talent is only the start. Now you have to work hard to keep your very best talent. Most companies stink at structured and systematic retention of their top performers. Discover how to prevent turnover and keep your best people.
Curated by Barry Deutsch
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Rescooped by Barry Deutsch from Employee Engagement
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What Does Employee Turnover Cost You?

What Does Employee Turnover Cost You? | Retain Top Talent | Scoop.it

The True Cost of Turnover
Many organizations either do not try to calculate the cost of employee turnover or, if they do, they find that it is not a simple calculation, especially since these costs don't appear as a line item in their financial statements.


Via Insightlink Communications
Barry Deutsch's insight:

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.

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Rescooped by Barry Deutsch from Learning and HR Matters
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5 Essentials for Developing People

5 Essentials for Developing People | Retain Top Talent | Scoop.it
Why would I invest in developing people? What if I invest in developing my people and then they leave? What if you don’t invest in them and then they stay?

Via The People Development Network, Roger Francis
Barry Deutsch's insight:

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?

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Barry Deutsch's curator insight, April 20, 8:35 PM

It's bordering on comical when CEOs and executives say "why should I invest in training when I'm just preparing them for a job in another company".

 

Is this your philosophy about training and development? Or is your organization up on a pedestal for your investments in training and developing people? Have you done any formal survey work to discover why people join your organization or leave? How much is related to developing, training, coaching, and helping people realize their dreams?