Retaining talent is one of the top concerns for organizations today. Retention is key for sustaining productivity and innovation; however, it has become increasingly difficult to achieve. In fact, a recent statistics show that the average cost of losing one employee is over $75,000. Included in this figure is the cost of recruiting, selection, training and ascending the learning curve. Costs can run much higher depending on the level of the employee and their contribution to the organization.
Assembling research from a variety of sources, TLG has uncovered a set of common themes that account for most of the reasons why employees may leave an organization. The 3 major themes were Leadership, Work Design, and Development, and they operate at 3 levels: Job, Team and Organization.
Our process, guided by our exclusive Retention Model, includes first assessing the potential weaknesses using our Retention Index. The Retention Index helps you uncover factors that may be limiting your ability to attract and retain talent. We can also help fill those gaps by providing solutions to fill the gaps. The programs we offer address many of the retention issues you may face. Depending on your particular needs, we may recommend one of the following:
- Competency Modeling
- Leadership Development for Key Leaders
- Selection and Assessment
- Cultural Assessment and Change
Is your organization vulnerable? Take the Retention Quiz to find out.
Learn more about Building a Culture of Retention.