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Retaining Talent (Misconception 2: people quit bc of pay (pay level and…
Retaining Talent
Misconception 2: people quit bc of pay
pay level and satisfaction are relatively weak predictors of individual turnover decisions
turnover intentions and job search are among the strongest predictors of turnover decisions
job satisfaction and org commitment are strong predictors
management/supervision, work design, and relationships w/ others are consistent predictors
Misconception 3: Ppl quit bc they are dissatisfied w/ their jobs
job dissatisfaction is driving force in less than half of turnover decisions
multiple paths to turnover decisions
different paths have different retention implications
important to consider why ppl stay
Misconception 5: 1 size fits all retention strategy is most effective
context specific evidence-based strategies are more effective
turnover analysis helps diagnose the extent to which turnover is problematic
organizational context matters
multiple data collection strategies enable more targeted & effective retention strategies
Misconception 1: All turnover is the same and it is all bad
there are different types of turnover
some turnover is functional
turnover costs vary
Misconception 4: Little managers can do
recruitment, selection and socialization practices affect retention
managers can influence the work environment through trainings, rewards and supervisory practices