How can employers manage staff turnover?
How can the HR department control high staff turnover? Is there a way they can motivate employees and discourage them from leaving for other companies? Paul
Dear Paul,
Organisations are engaged in a silent but ferocious war for talent. Many organisations are finding it hard to attract the people with the right skills, knowledge and attitudes and, at the same time are also finding it hard to keep the talent they have invested in.
What you should note, however, is that I have used the word talent, not staff.
Some studies have identified talent as the 2 per cent who deliver 80 per cent of the orgnaisation’s money/productivity. That is the talent organisations would wish to retain and if they fail, they should at least have the resilience to replace them with minimal disruption to the business.
Organisations should also realise that talent retention is not about throwing money at people (doubling salaries) to convince them to stay. Actually, I know some people who have accepted pay cuts and they have gone on to join organisations that pay lower salaries but invest more in the key areas that drive career advancement and development, provide meaningful work and appreciate and value their employees.
HR professionals will tell you that the winning formula for the war for talent lies in investing in creating a sustainable talent pipeline that ensures the flexibility of organisations to easily replace exiting talent with minimal disruption to the business.
Unfortunately, many organisations still find themselves flatfooted, acting with panic and confusion when key talent puts them on notice that they are moving on!
Moses Ssesanga
Head Human Resource
NMG - Uganda
[email protected]
