Summary of Rethinking Retention in Good Times and Bad

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

Rethinking Retention in Good Times and Bad book summary
Start getting smarter:
or see our plans

Rating

8 Overall

9 Applicability

8 Innovation

8 Style

Recommendation

You might think that a recession is exactly the time when good employees batten down their hatches and cling to their jobs, even if they do not like them. Think again. Really talented employees can find work during any economic period. Indeed, they change jobs all the time. Such turnover cuts productivity, making operations less efficient, and burdens companies with heavy employee replacement costs. Although the tariff can be staggering, most organizations do not have a formal – or even an informal – turnover abatement process. Instead, they relegate retention to a sideline human resources department activity. To correct this operational oversight, retention consultant Richard P. Finnegan provides the “Rethinking Retention Model,” a robust best-practices program you can use to cut down on expensive employee churn. In his heavily researched and sourced book, Finnegan thoroughly details the exact steps organizations should implement to increase retention. He offers numerous case studies that illustrate how companies hold on to their best employees. getAbstract highly recommends this comprehensive, logical, thoughtful guide as an ideal resource for CEOs, managers and HR executives who need to close the revolving door.

In this summary, you will learn

  • Why and how your company should fight to retain its people,
  • Whether the best employees are reluctant to leave their jobs during bad times, and
  • How to use the “Rethinking Retention Model” to keep good staffers.
 

About the Author

Richard P. Finnegan heads Finnegan Mackenzie, a retention consultancy. His articles on employee retention routinely appear in the business and professional media.

 

Summary

Turnover Hurts
The turnover ratio in the hotel industry is a staggering 75%-150%. Such turnover is incredibly expensive and eats directly into profits. Hotelier Harris Rosen of Rosen Hotels and Resorts has been able to reduce turnover at his seven Orlando, Florida, properties to a remarkably...

Get the key points from this book in 10 minutes.

For you

Find the right subscription plan for you.

For your company

We help you build a culture of continuous learning.

 or log in

Comment on this summary

More on this topic

Customers who read this summary also read

More by category