Employee retention is not preventing people from leaving. Employee retention is giving them reasons to stay.- Anca Larsen
A few years ago, I had a fascinating conversation with an old and trusted friend, Haj Abou Ali, an engineer by trade and a seasoned entrepreneur with more than twenty-five years of experience in running businesses . We were discussing the critical problems that can destabilise even a well-established company. I suggested , as you might , several typical sources of difficulty : a misguided strategic vision , supply chains that are disrupted or poorly controlled , operational processes that are inefficient or insufficiently refined , organisational structures that are n ot fit for their intended purpose , and a capital structure that is excessively leveraged. He agreed that these factors can certainly weaken a firm . Yet he argued that, in practice , the most damaging problems often arise elsewhere , within human resources and human resources management . In his view , persistent employee turnover and HR policies that are misaligned with the company’s broader strategy can unde...