Although we’ve shared this article before, we still feel that this particular write up is always an important topic to revisit. There’s a lot of talk and a number of articles discussing “the war for talent” and how difficult it is to attract and hire the level of talent that will serve the industry long after the last wave of Boomers retire. As true as the root problems are that these articles address, this article we found by Dr. John Sullivan on eremedia.com speaks to a different angle of the same issue – that focusing on employee retention can reduce turnover and avoid competing in “the war on talent”. We as Recruiters regularly experience the frustration of tracking down that perfect candidate with the job-ready background only to have her/him tell us that s/he is perfectly happy at their employer and not interested in the job we’re sourcing candidates for. We often wonder just what that company is doing to keep that employee happy and fending off us Recruiters.
Perhaps, that company has organized a focus on retention and developed a culture that acknowledges, rewards, and retains employees? In any event, it’s mitigating the hassle and financial impact of turnover while our clients are pressuring us to fill an important gap in their Org Chart caused by turnover. Dr. Sullivan’s article attempts to quantify the impact of turnover in a manner that motivates companies to focus on employee retention.
Enjoy the Article! ~ Jim Fairfax