Managing Talent Retention: An ROI Approach
- 6h 14m
- Jack J. Phillips, Lisa Edwards
- John Wiley & Sons (US)
- 2009
As the number of job candidates declines, the demand for employees increases, and the average number of years an employee stays with a single employer drops—the war for talent continues to heat up.
Managing Talent Retention offers human resource professionals a practical guide for implementing a sensible, strategic, and proven approach for effectively managing employee retention and increasing the bottom line. Written by Jack J. Phillips and Lisa Edwards—two experts on the topic of talent retention—this indispensible resource examines the full impact of talent departure and clearly maps out the true cost of employee turnover. The authors also explain an issue that is often misrepresented, misunderstood, or not fully explored: the actual causes of talent loss. Written for anyone who is concerned about talent departure and wants to address the problem strategically, Managing Talent Retention includes effective ways to address these issues:
- Organize the Turnover Data. Illustrates specific methods for organizing and monitoring turnover data so the turnover problem can be clearly illustrated to senior management.
- Monetize the Turnover Costs. Shows how to accurately monetize the turnover cost and clearly demonstrates the negative financial impact of turnover to the organization.
- Analyze the Cause of Turnover. Provides an effective methodology to accurately pinpoint the cause of turnover.
- Actualize the Retention Solution. Demonstrates many proven retention solutions and helps to identify and implement the right solution for any organization.
- Realize the Impact and ROI. Offers the tools needed to accurately measure the financial impact of a retention solution and calculate ROI.
- In addition, Managing Talent Retention includes a variety of illustrative case studies of organizations that have managed talent retention successfully, using this approach.
About the Authors
Jack J.Phillips is chairman of the ROI Institute. A seasoned HR veteran, Phillips has served as a senior HR executive in two Fortune 500 companies and in top executive roles, including president of a regional bank. A prolific writer, Phillips is the author or editor of more than 50 books and more than 200 articles.
Lisa Edwards serves as director, Global Learning and Development, at Corbis (Corbis.com) where she is responsible for developing Corbis' managers and leaders across sixteen countries.
In this Book
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Managing Talent Retention—An ROI Approach
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About This Book
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Talent Management—The Key to Organizational Success
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Why Talent Retention Is a Serious Problem
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An ROI Approach to Managing Retention
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Measure and Monitor Turnover and Retention Data
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Develop Fully Loaded Costs of Talent Departure
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Diagnose Causes of Talent Departure
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Recruit Talent
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Establish an Appropriate Work Environment
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Create Equitable Pay and Performance Processes
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Build Motivation and Commitment
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Match Solutions to Needs
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Forecast ROI of Retention Solutions
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Calculate ROI of Retention Solutions
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Make Adjustments and Continue
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Case Study—A Master’s Degree for High-Potential Employees—Federal Information Agency
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Case Study: Skill-Based Pay—Southeast Corridor Bank (SCB)
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Case Study: Coaching for New Employees—Global Media Company
