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Retaining Employees: Expert Solutions to Everyday Challenges

Overview


What can you, as a manager, do to attract top talent and keep your company's high-performing employees? In Retaining Employees, you'll learn ways to stay competitive in the war for talent by using creative and effective retention strategies, including:

Managing or removing common obstacles to retention, such as burnout and work-life ...

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Overview


What can you, as a manager, do to attract top talent and keep your company's high-performing employees? In Retaining Employees, you'll learn ways to stay competitive in the war for talent by using creative and effective retention strategies, including:

Managing or removing common obstacles to retention, such as burnout and work-life imbalance
Developing programs to better meet employees' diverse needs and interests
Hiring the right employees in order to improve retention

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Product Details

  • ISBN-13: 9781422129722
  • Publisher: Harvard Business Review Press
  • Publication date: 9/9/2010
  • Series: Pocket Mentor
  • Pages: 144
  • Sales rank: 1,393,105
  • Product dimensions: 4.90 (w) x 6.90 (h) x 0.30 (d)

Meet the Author


About Pocket Mentors

The Pocket Mentor series offers immediate solutions to the challenges managers face on the job every day. Each book in the series is packed with handy tools, self-tests, and real life examples to help you identify strengths and weaknesses and hone critical skills. Whether you're at your desk, in a meeting, or on the road, these portable guides enable you to tackle the daily demands of your work with greater speed, savvy, and effectiveness.

Meet Your Mentors

James Waldroop and Timothy Butler are the directors of the MBA Career Development Programs at the Harvard Business School. They are also the authors of two books: Discovering Your Career in Business and Maximum Success: Changing the 12 Behavior Patterns That Keep You from Getting Ahead

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Table of Contents

Mentors' Message: Why is Employee: Retention Important? xiii

Retaining Employees: The Basics

An Overview of Employee Retention 3

A look at key elements of retention.

What is retention? 4

Why is retention crucial? 5

Why do employees stay with a company? 9

Why do employees leave? 10

Understanding the Challenges to Retaining Employees 13

Four trends that make retention difficult.

Demographic changes 14

New economic realities 15

Cultural expectations 15

Upheavals in the world of work 17

How to beat the challenges 18

Retention Strategy 1: Hiring Right 21

Tips for bringing the right people on board.

Hire for interests 22

Hire for "microculture" 26

Clarify what you want 27

Avoid common hiring traps 28

Retention Strategy 2: Making Your Company an Employer of Choice 31

Ideas for making valued employees want to stay.

Design the right compensation policies 32

Offer attractive benefits 33

Help employees balance their work and personal lives 35

Foster employees' self-knowledge 36

Communicate job opportunities 37

Develop employees' skills 39

Create great jobs 42

Value diversity 43

Retention Strategy 3: Retaining a Multigenerational Workforce 51

Strategies for keeping employees from different generations on board.

Different underlying assumptions 53

Boomers at work 53

Strategies for retaining Boomers 54

Generation X at work 56

Strategies for retaining Gen X workers 57

Generation Y at work 58

Strategies for retaining Gen Y workers 59

Retention Strategy 4: Cultivating the Right Culture 61

Suggestions for crafting an appealing culture.

What is culture? 62

Understand the challenges of cultural change 63

Focus on "microcultures" 63

Survey your current culture 64

Define your desired culture 65

Make changes to close the gap 65

Retention Strategy 5: Helping Employees Avoid Burnout 67

Advice for combating an all-too-common workplace scourge.

Understand the warning signs of burnout 68

Know the root causes of burnout 69

Understand the price of burnout 71

Practice creative staffing 72

Minimize work exhaustion 76

"Re-recruit" your top talent 77

Retention Strategy 6: Strengthening Your Retention Skills 81

Recommendations for honing your retention expertise.

Take advantage of retention training 82

Share lessons learned with peer managers 83

Become a retention champ 84

Tips and Tools

Tools for Retaining Employees 91

Worksheets for conducting a stay interview, calculating the cost of replacing an employee, surveying your organization's culture, and assessing your retention abilities.

Test Yourself 101

A helpful review of concepts presented in this guide. Take it before and after you've read the guide, to see how much you've learned.

Answers to test questions 105

FAQs 109

Useful insights into common questions about retention.

Key Terms 117

Definitions of terminology often used in the area of employee retention.

To Learn More 119

Further titles of articles and books if you want to go more deeply into the topic.

Sources for Retaining Employees 127

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