Article: “Ditch the old methods and keep your staff by investing time and money in retention” (May 2006)

retention.jpg

excerpt:
"We know three things about staff retention:

1. The cost of replacing a staff member is typically at least $2,500, and the cost of replacing a manager generally costs upward of $15,000.

2. The average turnover rate in the industry is 165 percent per year.

3. The favorite lament about staffing is, "You just can't find good help these days."

I've been hearing the same story for 30 years. Enough already. You can find and keep good help if you stop investing in turnover and start investing in retention. So forget the cliches. Here's how to radically improve retention with a Six Sigma approach–the quality-oriented philosophy that drove GE for years–to personnel management…"

source: "Ditch the old methods and keep your staff by investing time and money in retention" by Rudy Miick (Nation's Restaurant News, May 29, 2006) [via FindArticles.com]

1 Comment »

  1. Alan Shieff said

    Thanks so much for this article.

    It is common sense + wisdome.

    Alan

RSS feed for comments on this post · TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: