Blissfully Unaware: Managers Shrug Shoulders on Retention Strategy

Retention Inattention: And companies wonder why their turnover is high. According to a just-released survey by Hudson, an HR consulting company in New York, fully 75 percent of managers profess to be unaware of formal retention strategies at their company. As if that weren’t enough to heighten anxiety, the survey goes on to add that 56 percent of currently employed adults believe they could easily find another job, with more than one-third having been contacted by recruiters from other companies during 2007. Proving that companies with deeper pockets can spend more to retain their top people, the survey finds that smaller companies—those with 251 to 500 employees—suffer from higher turnover and lousy reputations among their workforces.