Planning to maintain the right talent today and into the future is the key to sustaining competitive growth.

Workforce Retention has become a primary concern for many businesses.  Organizations in all sectors are confronting the escalating costs that are created by higher levels of workforce attrition and the lack of talent available to fill vacancies left by retiring boomers.

Executives are worried about their ability to achieve critical goals today and into the future because they cannot find the right people with the right skills to fill vacant positions!

Growing attrition problems stem from an expanding economy, increased worker demands, the changing diversity of the workforce, and a new breed of employees with very different values and more confidence in their ability to obtain alternative opportunities.

Retention drivers are diverse and unique to culture and business.  However new studies are showing that employee expectations are becoming less focused on the financial fronts and more on how they are treated and valued.   Managers lacking “people skills” are often a source of conflict, stress and are becoming a major reason for people leaving their jobs.

The costs of attrition erode bottom-line… companies must take steps to keep their best employees.

Retaining your best talent is not an easy feat.  There are many factors that cause attrition and many possible solutions.   There are two critical factors that every company must very clearly understand. First, the cost and other risks of ignoring high attrition can quickly erode bottom-line, lower productivity and result in lost customer share.  Companies traditionally use 150% of a salary as the cost of turnover.   However, today they are saying it could be up to 500%.  Filling vacant positions could take months and the ramp to full productivity of one employee could take years.   Second, it is vital that a company uncover common drivers in their workforce that will make their employees want to stay longer.   It could be acknowledgement, rewards, career development, skills upgrading, better benefits, more money or flexible work hours.    Every company is different!

We help company’s address attrition issues by showing them how to listen to employee needs and translate them into strategies that will retain their best employees!