new generation gap: retention

Retention Overview

Introduction – Why retention matters
Workshop - How to attract, engage, and retain your best people
Consulting - Overview

Why retention matters

Key employee retention is critical to the long term health and success of your business. Managers readily agree that their role is key in retaining your best employees to ensure business success health and success of your business. Managers readily agree that retaining your best employees ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning.

Employee retention matters. Organizational issues such as training time and investment; lost knowledge; mourning, insecure coworkers and a costly candidate search aside, failing to retain a key employee is costly. Various estimates suggest that losing a middle manager costs an organization up to 100 percent of his salary. The loss of a senior executive is even more costly.

Employee retention is critically important for a second societal reason, too. Over the next few years while Baby Boomers (age 40 to 58) retire, the upcoming Generation X population numbers 44 million people (ages 25-34), compared to 76 million Baby Boomers available for work. Simply stated: there are a lot fewer people available to work.

Employee retention is one of the primary measures of the health of your organization. If you are losing critical staff members, you can safely bet that other people in their departments are looking as well. Exit interviews with departing employees provide valuable information you can use to retain remaining staff. Heed their results. You’ll never have a more significant source of data about the health of your organization.

Workshop

How to attract, engage, and retain your best people (120 minutes)
This seminar will help you understand and develop an in-depth strategy to attract, keep, and motivate your workforce. Discover why some employees would rather work for a good employer than leave for a pay raise. This session will show managers, owners, supervisors, and human resource professionals not only how to retain their most talented performers, but also how to transform their entire workforce into a high-retention culture—saving organizations countless thousands of dollars. This session is jam packed with tips, ideas, and advice for creating an employee retention strategy. Learn how to...

• Build a high retention workforce that reduces employee turnover
• Help people reach greater levels of productivity leading to higher job satisfaction
• Improve employee motivation
• Transform the entire workforce into a high-retention culture—saving organizations countless thousands of dollars

Consulting

We serve a wide variety of employers with our consulting services. We advise organizations regarding employee retention and organizational development to help them build workforce stability, productivity, and profit. We invite you to learn more about our consulting services provided by MGD Consulting Partners.