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Retaining Talent Misconceptions + The Evidence That Proves Otherwise…
Retaining Talent Misconceptions + The Evidence That Proves Otherwise
Misconception: all turnover is the same and it is all bad
some turnover is functional
turnover costs vary
there are different types of turnover
Misconception: people quit because they are dissatisfied with their jobs
there are multiple paths to turnover decisions
different paths have different retention implications
job dissatisfaction is the driving force in fewer than half of individual turnover decisions
important to consider why people stay
Misconception: A simple one size fits all
turnover analysis helps diagnose the extent to which turnover is problematic
organizational context matters for interpreting turnover data
context-specific evidence-based strategies are more effective
multiple data collection strategies enable more targeted and effective retention strategies
Misconception: people quit because of pay
turnover intentions and job search are among the strongest predictors of turnover decisions
key attitudes such as job satisfaction and organizational commitment are relatively strong predictors
pay level and pay satisfaction are relatively weak predictors of individual turnover decisions
management/supervision, work design, and relationships with others are also consistent predictors
Misconception: There is little managers can do to directly influence turnover decisions
recruitment, selection, and socialization practices during organizational entry affect subsequent retention
managers can influence the work environment and turnover decisions through training, rewards, and supervisory practices
there are evidence-based human resource practices associated with turnover
evidence-based guidelines for retention management
develop knowledge of underlying principles and cause and effect relationships
diagnose and adapt to a particular organizational context
develop a shared understanding of turnover among organizational stakeholders
avoidable vs unavoidable turnover
Unavoidable turnover occurs for reasons that the
organization may have little or no control over,
such as health or dual career issues.
Avoidable
turnover occurs for reasons that the organization
may be able to influence, such as low job satisfaction,
poor supervision, or higher pay elsewhere.
The idea of organizational equilibrium serves as a
foundation for most turnover research: individuals
will continue to participate in the organization as
long as the inducements offered by the organization
are equal to or greater than the contributions
required by the organization; these judgments are
affected by both the desire to leave and the ease of
leaving the organization