Practical retention policy for the practical manager

Executive Overview Labor markets have been tightening over the past decade, and replacement costs associated with filling vacancies have been spiraling upward for years. Development of fully integrated retention policy may be one of the most effective responses that workforce managers can make to these kinds of problems. Integrated retention policy uses problem-relevant information to shape focused retention initiatives. Retention research can help in the policy-development process. Retention research can shed light on the value of standard practices (e.g., exit interviews), offer telling insights into patterns and trends in employee behavior (e.g., the relative tendencies of high and low performers), and provide information relating to the efficacy of popular retention strategies (e.g., Expectation Lowering Training). In this article we show how the findings of retention research may be used to inform and enlighten a policy-formulation process.

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