Talent vs. Deadwood
March 28th, 2007 by Kate Carleton
Recent studies show employee turnover has increased over the past 18 months and the voluntary unemployment rate, the “quit rate”, has risen about 2%, the highest since November 2001, according to the Bureau of Labor Statistics. Companies lose $$$$- lots of it- when an employee leaves. Are you offering any programs to retain talent? Would you be happy with the “deadwood” that waits for direction?
What’s happening today?
Baby Boomers shift values with aging, Gen-Xers look at the world differently, and statistics show, most employees leave a company because they don’t feel valued. In today’s hyper paced, global economy, how do you keep the talent?
Three quick tips:
- Ask who are the emerging leaders? What do they need? GenXer’s don’t feel loyalty, they will leave for a better opportunity. What can you do to retain the talent?
- Create a cross training program for employees, so that when the senior people leave, they don’t take all the knowledge and client relationships with them.
- Invest in your future. Retain the talent through coaching, training, 360 assessments, and/ or team building. It doesn’t have to be an expensive off-site or require hundreds of hours.
Group training is an economical and effecient way to empower, inspire, and inform and may save you from the “brain drain” corporations are experiencing. Retain talent, give the team a shot of adreneline, and you’ll be surprised at the results!
~ Kate ~
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