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Retention Management And Metrics

Employee Turnover And Retention Briefings Abstract: 54

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Best and Worst Companies [Globe and Mail] Friday 12/24/04 4:38 PM

The following 4 key factors separate the best companies from the worst companies, according to Ted Edmond and Neil Crawford of Hewitt Associates:

1) Communicating a vision

Best Companies: Leaders chart a clear course for the future that energizes and motivates employees.

Worst Companies: Leaders chart course but fail to build enthusiasm for the vision which is subsequently not implemented.

2) Business growth and transformation

Best Companies: Show strong record of growth, confident about future growth and adaptive to change.

Worst Companies: Feel unprepared to handle upcoming challenges.

3) Attracting and development of talent

Best Companies: Attract and retain employees who best fit in with the company culture. Performance expectations clearly articulated.

Worst Companies: Inconsistent people management programs. Fail to adapt people processes to changing business conditions.

4) People programs and practices

Best Companies: People practices implemented fairly and consistently across all employees. Human Resources department actively supports employees on day-to-day issues.

Worst Companies: Employee issues addressed haphazardly and inconsistently. Allow cronyism and discrimination in promotion decisions. Employee engagement drops as distance from executives increases.
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