Career Planning & Retention

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Retaining top quality talent has become a major challenge in the modern working environment. With the average length of term in any given position being 4.4 years (U.S. Bureau of Labor Statistics, 2012) and an average cost to replace that employee being 20% of their annual salary (Americanprogress.org), many companies are simply trying to fill positions with bodies. There is a study that focused on human motivation (RSA Animate), and it found that humans are primarily driven by three things: desire to master a skill, the need to be a part of something greater than themselves, and the ability to be self directed. This study did not mention money, free lunches, or nice bosses. While we widely recognize that people are motivated differently than previously thought, employee career planning and retention strategies seldom reflect this. Through the use of employee development plans, internal training programs, formal mentoring, and dual career ladders, I will explore what changes can be made to a companies planning & retention plans using Leprino Foods, my employer as an example. Leprino Foods much like many other older family owned companies has become antiquated in many of its policies. The idea that people are lucky to work a company and that they should be silent and do their job is outdated and hurting Leprino and other like-minded companies. Recently Leprino has started to experience a mass attrition in two of its manufacturing facilities and the entire corporate office. In the past the company placed very little value on internal or external training opting for on the job learning method. They also have never had any formal mentoring programs or a clear career path for employees over time. The natural pace of things has been whe... ... middle of paper ... ... advantage. (8th ed.). New York, NY: McGraw-Hill Irwin. A case study on employee retention strategies. Retrieved , from http://www.slideshare.net/vkumarab/a-case-study-on-employee-retention-strategies Career Development: What is a “dual career ladder”? . (2012, November 27). SHRM. Retrieved , from http://www.shrm.org/TemplatesTools/hrqa/Pages/termdualcareer.aspx There Are Significant Business Costs to Replacing Employees. (n.d.). Retrieved , from http://www.americanprogress.org/issues/labor/report/2012/11/16/44464/there-are-significant-business-costs-to-replacing-employees/ Employee Tenure Summary. (2012, September 18). U.S. Bureau of Labor Statistics. Retrieved , from http://www.bls.gov/news.release/tenure.nr0.htm RSA Animate - Drive: The surprising truth about what motivates us. (2010, April 1). YouTube. Retrieved , from https://www.youtube.com/watch?v=u6XAPnuFjJc

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