Hiring and Keeping the Best People

4

Market-Wise Retention

Competing in the War for Talent

Key Topics Covered in This Chapter

• Differentiating between employees in terms of economic value to the organization
• Seven market-based strategies for improving retention

EVERY LARGE ORGANIZATION has a distribution of low, average, and high performers. Nevertheless, most corporate retention programs—which are typically expensive to implement—don’t differentiate between them. At the same time, every organization is subject to labor market forces over which it has little or no control. There is likely to be a “buyer’s market” for some job categories and a “seller’s market” for others.Thus, a company must do its best to identify which employees—or employee segments—represent the highest value ...