February 2017 | Nano Tools | Management
Nano Tools for Leaders® are fast, effective leadership tools that you can learn and start using in less than 15 minutes — with the potential to significantly impact your success as a leader and the engagement and productivity of the people you lead.
Contributors: Peter Cappelli, PhD; George W. Taylor Professor of Management, Professor of Management; Director, Center for Human Resources, The Wharton School.
High rates of turnover are commonplace today, and no broad retention plan can change that. The market, more than your company, determines turnover. So the best retention strategy is to make your efforts highly targeted on influencing which employees leave and when.
Some talent on your team you will want to keep indefinitely, and others will be important for shorter periods of time. Still others are easily replaceable and don’t warrant an investment in retention. Making this distinction by employee and role should be done before considering the four retention action steps below. They can be tailored for different employees and the level of demand for their skills.
Follow these four steps to protect your investment by retaining top talent.
Nano Tools for Leaders® was conceived and developed by Deb Giffen, MCC, Director of Innovative Learning Solutions at Wharton Executive Education. It is jointly sponsored by Wharton Executive Education and Wharton’s Center for Leadership and Change Management, Wharton Professor of Management Michael Useem, Director. Nano Tools Academic Director is Professor John Paul MacDuffie, Professor of Management at the Wharton School and Director of the Program on Vehicle and Mobility Innovation (PVMI) at Wharton’s Mack Institute for Innovation Management.
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