Measure and Monitor Turnover and Retention Data
This chapter is the first step of the ROI approach to managing retention and logically begins with measuring and monitoring turnover. This simple step is not as easy as it may seem. Determining the precise definition of turnover is critical and other measures, such as intention to leave and turnover costs, should be considered a part of the measurement strategy. Also, while the organization’s turnover rates are critical, they must be considered in the context of the economic climate and expectations of the senior team. A comprehensive approach to measuring and monitoring enhances the likelihood that the retention issue will be understood and proper action taken.