After engagement, retention is the top talent management concern in today's global economy. The true ROI of top talent isn't realized if that talent leaves. Add the significant cost of replacing talent to the loss of skills and institutional knowledge when top performers leave, and the importance of retention becomes even more manifest. These factors, coupled with the rapidly changing demographics of today's workforce as the Baby Boomer generation begins to leave in significant numbers and the Millenial generation makes its presence increasingly felt, demands that savvy leaders understand the dynamics of retaining talent and know how to manage talent with retention as a goal.
Few HR professionals enjoy the subject of layoffs—the act of separating valued employees can be uncomfortable and emotionally taxing, and it may feel as though the subject is best avoided until the eventuality of separation presents itself. It is much easier to focus on positive events, like hiring, as evidenced by the ease of finding data for benchmarking your salary bands.Read more