Topics

HR Support on Employee Retention

Editor's Note: Retain employees to ensure increased ROI and decrease unwanted turnover.

Marta MoakleyOverview: Undesirable employee turnover, such as when a top performer leaves an organization, can lead to decreased productivity and succession or continuity challenges. Employee turnover is costly to organizations, decreasing the employer's return on investment (ROI) in employee training and development, as well as in benefits packages.

Employers should adopt a planned employee retention strategy tailored to their particular circumstances. Resorting to ad hoc methods or a dependence on market conditions as retention strategies will not allow an organization to achieve its business goals. "Employers of choice" will develop a retention strategy that targets specific practices, proactively evaluates policies and procedures and tracks turnover rates in order to strengthen organizational viability.

Trends: In a weak economy, many organizations will engage in some level of restructuring, whether it is accomplished through downsizing the organization, merging with another entity or acquiring related businesses. Employers need to institute communications plans that adequately deal with times of change, and must remain vigilant that top performers are not needlessly lost to competitors.

Author: Marta Moakley, JD, Legal Editor

New and Updated

  • Podcast: How to Keep A-List Talent From Exiting Stage Left

    Date:
    March 15, 2019
    Type:
    Podcasts and Webinars

    Employee engagement expert David Lee speaks with XpertHR Legal Editor David Weisenfeld about common mistakes that organizations make to push productive workers away and how to avoid them.

  • Webinar: How to Retain Your A-List Talent

    Date:
    March 13, 2019
    Type:
    Podcasts and Webinars

    In this engaging webinar, featuring internationally recognized employee engagement and onboarding authority David Lee, you learn about what A-List Talent looks for in a work experience.

  • Create an Onboarding Program

    Type:
    Liveflo

    Use this workflow to create an onboarding program for new employees.

  • Podcast: How Generation Z Is Changing the Workforce

    Date:
    November 27, 2017
    Type:
    Podcasts and Webinars

    On this podcast, the Chief HR Officer of Randstad North America discusses how Generation Z is already making its presence felt in the workplace and what employers need to do to communicate effectively with these young workers.

  • Webinar: Why Your Employees Are Just Not That Into You... and How to Change That

    Date:
    August 17, 2017
    Type:
    Podcasts and Webinars

    This webinar features internationally-recognized employee performance expert David Lee of HumanNature@Work, as he discusses common sources of employee disengagement and offers concrete solutions that result in employees being excited to come to work and perform at their best.

  • Make a Business Case for an HR Initiative - Worked Example

    Type:
    Worked Examples

    This Worked Example illustrates how HR may make a business case for an initiative of increasing the organization's profitability by reducing the cost of voluntary employee turnover.

  • Succession Planning Assessment and Readiness Survey Form

    Type:
    Policies and Documents

    An employer may use this survey when considering initiating a structured succession planning process. Having input from key stakeholders and parties involved in the process has several potential benefits for the employer.

  • Model Succession Plan Form

    Type:
    Policies and Documents

    The Model Succession Plan is designed to help a user (often HR) document a proposed succession planning process for senior management (CEO) and, where relevant, Board of Director approval.

  • Reward Employees Without Raising Pay

    Type:
    Tasks

  • Retain Top Performers

    Type:
    Tasks

About This Topic

HR guidance on the legal risks and benefits regarding employee retention programs.