Retaining talent is critical to the long term success of a company. Managers spend a lot of time, effort and money in the hiring process to screen and select the best possible employees and they definitely need to retain that talent.
Employee turnover has a high associated cost and various estimates show what that could be. According to a study by the Society for Human Resource Management, employers need to spend the equivalent of six to nine months of an employee’s salary in order to find and train their replacement.
When you think of being successful, have you ever wondered how the highly successful people in this world like Steve Jobs, Walt Disney, Henry Ford and many, many others reached the top in their respective areas and stayed there.
What uniqueness did they possess that took them to such high levels ?
A common myth is that in order to get results we need to motivate our employees. For Managers and Leaders it is an ongoing concern and most leaders are spending a major chunk of their time trying to motivate their team to achieve the goals set out for them. HR is constantly involved in developing tools and schemes to provide support to leaders in their quest for motivating their employees.
Economic downturns, financial difficulties, changing market conditions, mergers or other factors may suggest that reducing the workforce is the answer. This has been a very pervasive managerial practice for over decades, but the question that arises is – how successful is this practice in reality ?
In many cases the pain related to downsizing cannot be avoided but time has shown that such activities rarely deliver the anticipated results. The impact on the human element may in many cases outweigh the minor benefit gained in terms of reduction in HR costs.
The year ends and at the beginning of each new year we get a fresh page to write on, a page that is waiting for us to fill with our dreams, aspirations and goals.
Its time to ask yourself :
– What should I do to help me achieve my goals ?
– Have I been using old and irrelevant ideas from the past years ?
– Am I using an ineffective approach ?
It is only by questioning yourself that you will become aware of what you need to write for the new year.
The beginning of a year brings a special atmosphere that motivates all of us to take action, and that’s – an opportunity! It’s a time to review old opportunities which we may have forgotten and also think of new ones which may help us achieve our goals.