Think you're doing all you can to reduce employee turnover? You might want to check again.
A study by Development Dimensions International indicates that too many employers are laboring under myths that disguise the continuing problem of employee retention.
"The root of the problem is that too many businesses still believe in myths about employee turnover," says Richard Wellins, DDI's senior vice president of marketing.
Wellins says that many employers believe the retention problem is going away when, in fact, it's going into overdrive.
Nearly all of the human resources professionals queried for the study said their organizations needed to do better at employee retention, but only 44 percent said their companies were planning an overhaul of their strategies.
Part of the problem, it seems, is the apparent disparity between what employers think about the causes of turnover and what employees think. The human resources people, for instance, rated "finding meaning in one's work" as the least important reason why employees quit, while employees rated it as the second most important factor in job satisfaction.
Money finished last in importance in the employees' ranking, while HR professionals rated it high as a retention factor.