Strategic Thinking To Develop A Successful Employee Retention Strategy According To Your Strategic Thinking Business Coach
“Strategic Thinking To Develop A Successful Employee Retention Strategy, According To Your Strategic Thinking Business Coach”
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
Look around you in today’s business world. It is no secret that it is becoming more difficult to recruit and retain skilled employees. In fact, one could say that select businesses and industries are desperate or becoming desperate to find people with the needed skills and attitudes.
An often ignored or neglected source of talent is the 45 to 65 year old age group. This group happens to be the largest demographic group in the US census. Estimates indicate that one of every two people in the United States will be 50 years old or older by the year 2020. Although these older workers are willing to stay in the workforce longer or even re-enter the workforce after they retire, most businesses still continue to cater to younger workers. Proof of this comes from a survey conducted by the Society of Human Resources Managers that shows 65% of companies surveyed exerted no effort to recruit older workers for open positions. The survey also showed that 81% of the companies did not have benefit plans designed with older workers in mind.
Okay – what about your business? Have you anticipated and responded to the challenge of employee retention? Or are you like too many businesses that do not focus on employee retention until turnover increases. The successful businesses today have a formalized employee retention program as part of their business strategy. They take a proactive approach to prevent unnecessary employee turnover.
Your strategic thinking business coach suggests that you use some strategic thinking to develop a successful employee retention strategy. Here are some steps to use in developing such a strategy from your business.
+ Commit to taking a proactive approach and not waiting until employee retention is a problem.
+ Demonstrate a commitment for employee retention from the top of your organization.
+ Select someone to be in charge of employee retention.
+ Commit to properly training your managers on employee retention.
+ Develop and implement a system to measure the cost of turnover in your business.
+ Develop and implement a system of accountability for retention for your management team and other leaders in your
+ Develop and implement a system to measure job satisfaction of your employees.
Your strategic thinking business coach encourages you to use strategic thinking in the development of an employee retention program. If you would like to learn
more about how to develop a strategic employee retention plan and how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at email@example.com