Companies Shift Focus to Retention [infographic] – Friday Distraction
According to the latest research from LinkedIn organizations might be having trouble managing all of the pieces to a productive and engaged workforce. In an effort to attract the best talent, companies have lost focus on the importance of retention.
This infographic shows the amount of preventable turnover happening in business today and the bottom-line impact. Literally millions are being wasted. This is money that could be used on skills training, career development, and employee compensation.
I’ve written before about employee coaching being more cost effective than hiring when it comes to managing performance issues. This research shows that it might be true in general. Organizations have held off making talent investments during the economic crisis. It’s time to revisit the people side of the business.
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