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Employee Retention Strategy:
Six Steps to Creating a High Retention Workplace
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Get Ready, Here It Comes
Again
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Despite economic changes, the issue of
employee retention is here to stay. The labor shortage that
plagued employers at the height of the economic boom has not
vanished. It may be off the radar now, but it is returning
strong as ever.
Successful organizations realize employee retention is
integral to sustaining their leadership and growth in the
marketplace. Most businesses focus on employee retention
when employee turnover starts to increase. However, good
organizations make employee retention a core element of
their talent management and organizational development
strategy. Those that fail to make employee retention a
priority are at risk of losing their top talented people to
the competition. |
What are you going to do? What
is your strategy in preventing valuable employees from leaving?
Consider the following
driving forces.
Job Defections – The Society of Human Resource Management (SHRM) and
the Wall Street Journal website completed the Job Recovery Survey in
September 2003. The key findings revealed 64 percent of employees said
they were extremely likely to begin or increase the intensity of their job
search. An additional 19 percent said they were somewhat likely to
increase their search.
Skill Shortage – Many industries already experience major shortages
of talent. For example, the healthcare industry suffers from a nurse
shortage, and now is importing nurses from other countries. This places a
burden on employers to provide the best place to work possible to attract
and retain key staff.
Our employee retention strategy is easy to implement and provides you the six steps you need
to adopt in establishing an effective retention strategy.
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Assess the organization.
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Hold people accountable.
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Measure what is important.
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Increase employee ownership and
involvement.
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Build relationships and create
a positive first impression.
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Devise intervention strategies.
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Employee Retention is a Major Issue
This report includes proven and practical
information on these critical topics:
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The
Retention Czar
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Who should
be held accountable
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Two types
of assessments to pinpoint problems
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How to
look for and accommodate life changes that lead to turnover
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Company
policies that affect retention
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What you
should measure and monitor
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What a
good employee orientation program should look like
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How to
design an Individual Retention Profile (IRP)
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Includes a
detailed employee orientation task list
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What to do
when an employee says they are leaving
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Case
studies
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How to
design a retention implementation team
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How to
hire for retention
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