Retention is the converse of turnover (turnover being the sum of voluntary and involuntary separations between an employee and his or her company.) Industry-wide and company-wide measures that track turnover rates reveal that most companies surveyed by the Center for Organizational Research had turnover rates in the 15 to 50 percent range, though a sizable minority enjoyed single-digit turnover.

Retention isn’t simply a “FEEL GOOD” issue. The retention of good employees matters for three important bottom-line reasons:

NUMBER ONE: The Growing importance of Intellectual Capital
NUMBER TWO: The link between employee tenure and customer satisfaction
NUMBER THREE: The High Cost of employee turnover.

In future postings we will examine in detail each of these three bottom line reasons!

Nancy J. Phillips, CPC, CTS

This entry was posted on Wednesday, January 31st, 2007 at 5:24 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.