Page 221 - Retaining Top Employees

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Summary: Making It All Work 209

No Turnover Is Poor Retention
Even if you reduced your turnover of top employees to
zero,you would still have a retention problem— maybe an
even bigger problem!
That’s because every organization needs a steady influx of new
blood to keep it vibrant,growing,and responsive to outside changes.A
turnover rate of less than about 5% is dangerously low (especially for
top performers).
Keeping your organization alive and thriving means not managing the
turnover of key employees down to a dangerously low level.As long as
your turnover rate is not too high (between say 6% and 12%,depend-
ing on your industry),you can think of each departing employee as an
opportunity to prevent the organization from becoming stagnant.
Again, it’s important to approach such “discontinuities” with
a relaxed mindset. Don’t take it personally and become defen-
sive or, worse, aggressive about departures. That just adds to
the stress and does nothing for retention.
Even with the techniques detailed in this book, not every
high performer will stay with you forever—so remember
to keep the door open to
employees who leave. People Talk,
Strategies Don’t
Concentrate on People,
The major reason to con-
Not Strategies centrate on the people rather than
Remember that effective the strategies is because people talk.
retention is about people, They can let you know what’s work-
not strategies. When you ing for them and what’s not.
Strategies don’t talk. If a retention
implement the strategies in
strategy isn’t working,don’t tinker with
this book, focus them on
it.Talk to the employees affected by the
your people. What works? non-working strategy,find out what’s
What doesn’t work? Who’s wrong,and then adjust the strategy.
content? Who’s discontent-
ed? What’s causing the discontent? Address those needs.
It’s All About Adding Value

After making an appropriate change in mindset, the next step in
implementing your top employee retention strategy effectively