Transcription of A Strategic Approach to Employee Retention - …
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A Strategic Approach to Employee Retention - …
FOCUS AREABUSINESSA Strategic Approach to EmployeeRetentionBY JOHN GERING AND JOHN CONNER, PHD, MA/n September 2000, Paul Rutledge,president, MidAmerica Division ofHCA, Nashville, Tennessee, initiat-ed action to become the employer ofchoice. Previous tactical programs toretain employees had proven to beineffective. 'Ilirnover rates averaged30 percent, and the average tenure ofemployees who left was about twoyears. Across the company, 20 per-cent of departing employees hadtenure of 90 days, and 70 percent ofdeparting employees had tenure ofISSUES AND ACTIONSA sound Retention strategy shouldincorporate a business plan, avalue FM'oposition, progress mea-sures, and management influences.* The business plan will indicatewhether a healthcare organiza-tion will achieve a return oninvestment for its efforl.* A value proposition will show-case an organization'sstrengths and differentiate itfrom its competitors.
Employee Retention other hand, the organization wiU need to use compensation as its leverage. However, any retention strategy based solely on compensa-
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