The vast majority of companies with formal retention plans were likely to keep turnover among mid-level managers to five percent or less, according to a report from the Aberdeen Group. The findings were derived from an online survey of 170 human resources professionals conducted by the Human Capital Institute.
The results point to a widespread movement to keep talent in a fragile marketplace. A large majority of HR pros participating in the study—85 percent—said hiring and keeping talent was a key issue for them. A thorough review of financial data performed by Aberdeen showed that the average cost of replacing staff—measured in terms of disruptions in customer service, production, and direct HR costs—was $13,295. Executives, naturally, commanded a higher premium, identified by Aberdeen as $80,515 per hire.
These and other key findings in the report will be the topics of discussion when Dr. Katherine Jones of Aberdeen hosts a Rideau-sponsored webinar on February 22 at 11:00 a.m. central time. Jones leads Aberdeen’s Human Capital Management practice. Find out more about the webinar by visiting www.Rideau.com.