Holding On: During Uncertain Times, Tried Retention Tactics Still Hold True

Article

  (2001, AQP)  

AQP News for a Change    Vol. 5    No. 6
QICID: 18676    June 2001    pp. 1-2
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Article Abstract

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[Pages 1, 5]During economic downturns, employers don't have to worry as much about competitors trying to attract their workers, but they also have fewer benefits to offer to make sure those workers stay. Worker retention is an important issue during any economic condition, especially since the cost of replacing an employee is between 100 and 150 percent of his or her salary. Employers without a large benefits budget are finding inexpensive ways to keep employees happy. John Cavanaugh, employee development specialist for the Minnesota Department of Transportation in Duluth, uses team-based management to make employees feel more involved. He also continually praises their efforts. As consultant Don Sanders points out, 78 percent of retention comes down to the supervisor-employee relationship. A commitment to work/life balance can also a powerful retention tool.

Keywords

Employee benefits,Quality of work life,Employee retention


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