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Managing Talent Retention: An ROI Approach

Book Description

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.

Table of Contents

  1. About This Book
    1. Why This Topic Is Important
    2. What You Can Achieve with This Book
    3. The Audience for This Book
    4. How This Book Is Different
    5. How This Book Is Organized
  2. About Pfeiffer
  3. Title Page
  4. Copyright Page
  5. Table of Figures
  6. List of Tables
  7. Table of Exhibits
  8. Acknowledgements
  9. CHAPTER ONE - Talent Management
    1. WHY TALENT IS CRITICAL TO SUCCESS
    2. A SYSTEM FOR TALENT MANAGEMENT
    3. A SYSTEMS APPROACH
    4. PLANNING
    5. ACQUIRING
    6. DEVELOPING TALENT
    7. MANAGING TALENT
    8. RETAINING TALENT
    9. FINAL THOUGHTS
  10. CHAPTER TWO - Why Talent Retention Is a Serious Problem
    1. DEFINITIONS
    2. RETENTION IS A CRITICAL ISSUE
    3. DRIVERS OF THE TALENT RETENTION CRISIS
    4. TALENT RETENTION MYTHS
    5. PAYOFFS OF TALENT RETENTION SOLUTIONS
    6. FINAL THOUGHTS
  11. CHAPTER THREE - An ROI Approach to Managing Retention
    1. PROBLEMS WITH EXISTING APPROACHES
    2. NEEDED: AN ROI APPROACH
    3. 1. Measure and Monitor Turnover and Retention Data
    4. FINAL THOUGHTS
  12. CHAPTER FOUR - Measure and Monitor Turnover and Retention Data
    1. DEFINITIONS
    2. SETTING RETENTION TARGETS
    3. ECONOMIC CLIMATE AND NATIONAL DATA
    4. BENCHMARKING TURNOVER
    5. MONITORING TURNOVER AND RETENTION DATA
    6. ADDITIONAL MONITORING
    7. DISTRIBUTION OF INFORMATION
    8. RESPONSIBILITY
    9. FINAL THOUGHTS
  13. CHAPTER FIVE - Develop Fully Loaded Costs of Talent Departure
    1. IMPORTANCE OF COSTS
    2. HOW TO DEVELOP TURNOVER COSTS
    3. COST MONITORING ISSUES
    4. CLASSIFYING COSTS
    5. Departure/Exit Costs
    6. FINAL THOUGHTS
  14. CHAPTER SIX - Diagnose Causes of Talent Departure
    1. THE DILEMMA OF ANALYSIS
    2. FINDING THE CONNECTIONS AMONG EMPLOYEE NEEDS, CAUSES OF TURNOVER, AND SOLUTIONS
    3. STARTING POINT: ANALYSIS OF TURNOVER DATA
    4. QUESTIONNAIRES
    5. RETENTION SURVEYS
    6. INTERVIEWS AND FOCUS GROUPS
    7. NOMINAL GROUP TECHNIQUE
    8. EXIT INTERVIEW (OR SURVEY)
    9. IDEA GENERATION TOOLS
    10. OTHER TOOLS
    11. FINAL THOUGHTS
  15. CHAPTER SEVEN - Recruit Talent
    1. IMAGE AND BRAND
    2. STABLE OR STRONG MARKET AND FINANCIAL PERFORMANCE
    3. EFFECTIVE RECRUITMENT STRATEGIES
    4. EFFECTIVE SELECTION AND ATTRACTIVE OFFER
    5. JOB FIT AND CAREER ADVANCEMENT OPPORTUNITIES
    6. ORIENTATION AND ON-BOARDING
    7. FINAL THOUGHTS
  16. CHAPTER EIGHT - Establish an Appropriate Work Environment
    1. JOB SATISFACTION
    2. WORKPLACE DESIGN
    3. HEALTH AND SAFETY
    4. JOB SECURITY
    5. CULTURE
    6. WORK/LIFE BALANCE
    7. DIVERSITY
    8. FINAL THOUGHTS
  17. CHAPTER NINE - Create Equitable Pay and Performance Processes
    1. PAY
    2. BENEFITS
    3. REWARDS AND RECOGNITION
    4. FINAL THOUGHTS
  18. CHAPTER TEN - Build Motivation and Commitment
    1. QUALITY OF LEADERSHIP
    2. EMPOWERMENT
    3. TEAMWORK
    4. TRUST AND INTEGRITY
    5. ORGANIZATIONAL COMMITMENT
    6. PROFESSIONAL AND CAREER ADVANCEMENT
    7. FINAL THOUGHTS
  19. CHAPTER ELEVEN - Match Solutions to Needs
    1. COMBINING DATA FROM DIFFERENT SOURCES
    2. DETERMINING THE SIGNIFICANCE OF THE CAUSE
    3. PRESENTING DATA FOR DECISION MAKING
    4. MATCHING SOLUTIONS TO NEEDS
    5. SELECTING SOLUTIONS FOR MAXIMUM PAYOFF
    6. FINAL THOUGHTS
  20. CHAPTER TWELVE - Forecast ROI of Retention Solutions
    1. WHY FORECAST ROI?
    2. THE TRADEOFFS OF FORECASTING
    3. PRE-PROJECT ROI FORECASTING
    4. FORECASTING ROI WITH REACTION DATA
    5. PROJECT COSTS FOR FORECASTING CALCULATIONS
    6. FINAL THOUGHTS
  21. CHAPTER THIRTEEN - Calculate ROI of Retention Solutions
    1. KEY ROI ISSUES
    2. BUILDING THE PROCESS
    3. AN EVALUATION FRAMEWORK
    4. THE ROI PROCESS MODEL
    5. OPERATING STANDARDS AND PHILOSOPHY
    6. FINAL THOUGHTS
  22. CHAPTER FOURTEEN - Make Adjustments and Continue
    1. THE IMPORTANCE OF COMMUNICATING RESULTS
    2. PRINCIPLES OF COMMUNICATING RESULTS
    3. DEVELOPING THE IMPACT STUDY REPORT
    4. COMMUNICATING INFORMATION ON RETENTION SOLUTIONS
    5. PRESENTING IMPACT STUDY DATA TO SENIOR MANAGEMENT
    6. CONDUCTING A RETENTION REVIEW MEETING
    7. USING THE ORGANIZATION’S PUBLICATIONS AND STANDARD COMMUNICATION TOOLS
    8. DRIVING ACTION FROM RETENTION SOLUTIONS
    9. MAINTAINING A LOW TURNOVER RATE
    10. OVERCOMING RESISTANCE TO MANAGING RETENTION
    11. FINAL THOUGHTS
  23. CHAPTER FIFTEEN - Case Study: A Master’s Degree for High-Potential Employees
    1. BACKGROUND
    2. PROGRAM DESCRIPTION
    3. SELECTION CRITERIA
    4. PROGRAM ADMINISTRATION
    5. DATA COLLECTION
    6. APPLICATION AND IMPLEMENTATION
    7. ANALYSIS
    8. RESULTS
    9. COMMUNICATING RESULTS
  24. CHAPTER SIXTEEN - Case Study: Skill-Based Pay
    1. BACKGROUND
    2. MEASURING AND MONITORING TURNOVER
    3. IMPACT OF TURNOVER
    4. DETERMINING THE CAUSE OF TURNOVER
    5. NOMINAL GROUP TECHNIQUE
    6. SPECIFIC NEEDS
    7. SOLUTION: SKILL-BASED PAY
    8. MEASURING SUCCESS
    9. ISOLATING THE EFFECTS OF THE SKILL-BASED PAY PROJECT
    10. CONVERTING DATA TO MONEY
    11. ANALYSIS
    12. PROJECT COST
    13. ROI AND ITS MEANING
    14. COMMUNICATION OF RESULTS
    15. LESSONS LEARNED
  25. CHAPTER SEVENTEEN - Case Study: Coaching for New Employees
    1. BACKGROUND
    2. MEASURING AND MONITORING TURNOVER AT RMC
    3. DEVELOP FULLY LOADED COSTS OF TURNOVER
    4. DETERMINING THE CAUSE OF TURNOVER
    5. SOLUTION: NEW-HIRE COACHING PILOT STUDY
    6. CONVERTING DATA
    7. LESSONS LEARNED
    8. COMMUNICATION STRATEGY
    9. REFERENCE
  26. Index
  27. About the Authors
  28. Pfeiffer Publications Guide