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Essay / Career Planning and Retention - 803
Retaining top quality talent has become a major challenge in the modern workplace. With the average tenure for a given position being 4.4 years (U.S. Bureau of Labor Statistics, 2012) and the average cost to replace that employee being 20% of their annual salary (Americanprogress.org), many Companies are simply trying to fill positions. positions with the bodies. There is a study focused on human motivation (RSA Animate) that found that humans are primarily motivated by three things: the desire to master a skill, the need to be part of something bigger than themselves, and the ability to be yourself. directed. This study doesn't mention money, free lunches, or good bosses. Although we widely recognize that people are motivated differently than previously thought, career planning and employee retention strategies rarely reflect this. Through the use of employee development plans, internal training programs, formal mentoring and dual career ladders, I will explore the changes that can be made to a company's planning and retention plans using Leprino Foods, my employer as an example. Leprino Foods, like many others. other older family businesses have become outdated in many of their policies. The idea that people are lucky to work at a company and that they should shut up and do their job is outdated and harms Leprino and other like-minded companies. Recently, Leprino began experiencing massive downsizing at two of its manufacturing plants and throughout the corporate headquarters. In the past, the company placed very little emphasis on internal or external training and opted for a learning-on-the-job method. They also never established formal mentoring programs or a clear career path for employees over time. The natural rhythm of things has been one where...... middle of paper ...... advantage. (8th ed.). New York, NY: McGraw-Hill Irwin. A case study in employee retention strategies. Retrieved from http://www.slideshare.net/vkumarab/a-case-study-on-employee-retention-strategiesCareer Development: What is a “Dual Career Ladder”? . (November 27, 2012). SHRM. Retrieved from http://www.shrm.org/TemplatesTools/hrqa/Pages/termdualcareer.aspxReplacing employees results in significant business costs. (nd). Retrieved from http://www.americanprogress.org/issues/labor/report/2012/11/16/44464/there-are-significant-business-costs-to-replacing-employees/Employee Tenure Summary. (September 18, 2012). U.S. Bureau of Labor Statistics. Retrieved from http://www.bls.gov/news.release/tenure.nr0.htmRSA Animate - Drive: The surprising truth about what motivates us. (April 1, 2010). YouTube. Retrieved from https://www.youtube.com/watch?v=u6XAPnuFjJc