| Retention management and talent management require management to clearly define business goals and objectives. The organization is responsible for holding managers accountable in these areas. Organizational culture determines growth, both professionally and personally among managers and employees. Managers have the responsibility of supporting the culture by communicating, gaining trust and being supportive to employees. Healthy conflict within an organization requires managers to provide direction, training, and support. Managers who are aware of the cost of employee turnover will have a greater understanding in the importance of retention management and talent management. Tangible costs of replacement, training, and lost productivity are only part of the problem; intangible costs are even greater. The costs in decreased productivity and employee morale as well as an increase in workload and elevated tension are detrimental the organization as a whole. Managers must provide clear statements of performance requirements, define assignment parameters, conduct accurate performance appraisals, give feedback on subordinate performance, and provide appropriate reward distribution. The recommendation within this paper is to hold managers accountable in the areas of retention and talent management by implementing management by objectives into practice. |
