In Personnel today there is a quick survey on what is a reasonable turnover for employees. The private companies are saying 10.5% and the public companies 8.4%. For me it is not about the level of turnover it is about who you are losing. If you are losing 10% of your stars or potentials then that's a problem. I am amazed at how many people either don't measure turnover or are in denial of the true reasons why people are leaving. Ah well we couldn't satisfy their aspirations, ah well its good to have fresh blood, ah well there was nothing we could have done , we couldn't match that salary level.
You need to be honest, and look at why people are leaving the organization. To do this you need to dig deeper than personal reasons( In fact take it off the form - it is meaningless), or career enhancement ( Is this about the manager or the lack of coaching within the org?). People, as they leave, are not in a position to often tell the truth - they want to leave on good terms. But if people are giving general reasons or ticking a checklist then you are not getting to the core of the problem. Dig, this is vital data that you cannot afford to lose. When a person leaves their needs are not being met in some way...you need to see people leaving as a method of feedback, a method of communicating to you. Engage with people, don't give up on them. Follow up after they have left, keep in touch with them if they were stars, contact them if opportunities arise. The fact that you are showing that you care and are sad at losing them, illustrates that you value them. I think people too readily let people go, people are your competitive advantage and you need to value the talent that you have. Losing people means losing knowledge and experience, so if they do leave you need to learn the true reasons and then ACT on them before you lose someone else.
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