Racecars, Space Shuttles, and Employee Turnover

Employee turnover remains a critical organizational concern, and is likely to become increasingly important. Consider the following quote:1 “Demographic shifts (aging populations, declining birthrates, economic migration), social evolution, inadequate educational programs, globalization, and entrepreneurial practices (outsourcing, off-shoring, on-demand employment) are between them causing shortages, not only in the overall availability of talent but also—and more significantly—in the specific skills and competencies required.” Even with the down economy, retention among high performers has become more difficult due to budget constraints that limit bonus and incentive pay.2 The Corporate ...

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