Reducing Employee Turnover

Overview
Reducing turnover begins with recruiting the right people in your critical positions. The insidious nature of the wrong people in executive positions can be a reason for an above-average rate of employee turnover. It all starts with having best-in-class top executives. Please allow me to explain.

Organizations have one fundamental business challenge for sustaining success, to identify, recruit and retain a best-in-class professional for each critically-important position. Outstanding companies recruit the best human capital within the workforce first and then proceed to achieve greatness in the marketplace. This is not just an academic concept, recruiting and retaining top executives with genuine leadership capabilities and proven managerial skills are essential elements for survival. This is statistically significant; the return on investment (ROI) exceeds all other business initiatives. Since we are experiencing a growing shortage of top talent in the marketplace, this top-tier class of professionals can receive multiple opportunities. You must be consistently proactive in your motivational and retention efforts. There are several steps in this process.

Step One: Hire the Right People
One primary criterion during the recruitment and evaluation process is the identification and removal of people with mediocre skill sets. If you have an underperforming person, chances are that the individual is both competent and has the appropriate experience, but lacks motivation. Commit to yourself to never again hire someone that lacks motivation. For a match, a direct correlation must exist between the position description's performance objectives and the prospective candidate's past achievements complemented by a satisfactory level of core competence, knowledge, and experience.

There are people that look and sound great during an interview but fall short on performance goals once on the job. For a successful outcome, ensure that the person you hire has the appropriate combination of experience, competence, motivation, and culturally fit-in. The effective execution of this recruitment process determines the degree of success or failure of your business. The best strategies are comprehensive methodologies comprising identifying, recruiting, performance-based interviewing, competency assessment, and a market-based compensation package.

Step Two: Long-term Motivation
The question now becomes how you keep a motivated

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