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.
There is an old adage that people quit managers, and not jobs. It maybe true in some cases but I don’t totally agree with that. There are many other factors which contribute directly or indirectly to such a major decision – which maybe :
Some companies like the way things are and employees don’t get a chance to learn anything new. Things continue to go the same way and slowly the good employees who are more ambitious to learn and grow start to leave. Peer pressure play a key role in such a situation and if all your friends have more interesting and rewarding jobs then the pressure keeps increasing.