ABSTRACT
There are certainly other strategies and agendas to consider, but in the end, the most important thing for a company is to understand the rationale and full cost of employee turnover.
Research data strengthens the case for paying special attention to this final stage of the cycle. A massive wave of retirement is already underway. Although variations in economic cycles may dampen this effect in the short term, the inventory of critical knowledge and talent is already shifting and declining. In some industries, growth ambitions and service to customers and constituents has been curtailed by significant talent shortages. The labor market is becoming more competitive in unexpected ways. The cost of turnover continues to escalate-and carries a far-reaching impact on an organization and its customers. And worst of all, employees are acting on their restlessness and dissatisfaction or disenchantment with greater frequency.
