Rules Successful Companies Use to Attract and Keep Top Talent

1. Understand Why Employees Come and Why They Stay

Check the calendar. The epoch of indentured servitude is long gone (as much as some executives I know want to bring it back!). Today, even in the midst of a historic economic downturn, your employees are not conscripts or servants. They are most likely volunteers. As much as you think your employees need you, that they are dependent on you, let’s face it; the reverse is true. You are highly dependent on them for your success, your life style, and your living—now and into the future.

Oh, sure you can replace them, one after another, over a period of time, but you’ll go broke. Your organization will be in ruins. Why? Well, some studies have shown that the cost to replace, retrain, and reintegrate ...