Understanding the Real Impact of Turnover
Manager Green is worried. The annual turnover rate in his business unit has increased from 14% last year to 18% this year, more than a 25% increase. Being a proactive manager, he decides to develop a plan to address the rising turnover rate. Based on exit interview data, conversations with other managers, and his own experience, Manager Green develops a comprehensive plan involving retention bonuses, a market-based salary survey, and hiring a consultant to improve employee engagement.
Manager Green presents his turnover reduction plan to his boss, Manager Savvy. The first thing she asks is how much the plan will cost. Manager Green has learned that Manager Savvy always ...
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