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Managing Talent Retention: An ROI Approach

Jack J. Phillips, Lisa Edwards

ISBN: 978-0-470-47220-0 December 2008 Pfeiffer 432 Pages


Retention is becoming one of the most pressing concerns of employers worldwide. This book provides an overview of talent retention and defines retention and turnover in very specific measures. It explores the full impact of talent departure and most important it offers proven solutions to talent retention. The book clearly shows how to forecast the ROI of talent retention solutions and how to capture the actual ROI after the solution was implemented. This is a practical book providing an ROI approach to HR managers and practitioners.

List of Figures, Tables, and Exhibits xiii

Acknowledgements xvii

1 Talent Management: The Key to Organizational Success 1

2 Why Talent Retention Is a Serious Problem 26

3 An ROI Approach to Managing Retention 42

4 Measure and Monitor Turnover and Retention Data 58

5 Develop Fully Loaded Costs of Talent Departure 79

6 Diagnose Cause of Talent Departure 105

7 Recruit Talent 138

8 Establish an Appropriate Work Environment 161

9 Create Equitable Pay and Performance Processes 191

10 Build Motivation and Commitment 214

11 Match Solutions to Needs 243

12 Forecast ROI of Retention Solutions 257

13 Calculate ROI of Retention Solutions 276

14 Make Adjustments and Continue 299

15 Case Study: A Master’s Degree for High-Potential

Employees: Federal Information Agency 327
Jack J. Phillips

16 Case Study: Skill-Based Pay: SoutheastCorridor Bank (SCB)352
Patricia Pulliam Phillips

17 Case Study: Coaching for New Employees: Global Media Company 368
Lisa Ann Edwards and Christina Lounsberry

Index 381

About the Authors 401