1.
RETAINING TALENT IN
TODAY’S JOB MARKET
Shannon Brown
MAN 4900 380480
Dr. Jose Lepervanche
April 2013

2.
WHAT EMPLOYERS NEED
TO REVISIT…
Improved retention practices
Expectations of Gen Y
Improving job “embeddedness” in their teams

3.
IMPROVED RETENTION
PRACTICES
 Fallacy of retention through poor economy
“While job markets are tight and cuts are being made, the fear of
being let go for reasons out of their control is always present,
therefore not a reason to stay and remains dissatisfied. (White, 2012)

4.
REVISIT STRATEGIES
 “Stay” interviews to uncover interests, strengths and best skills, as well as
motivations, career opportunity and performance needs.
 Retention practice committee that develops an organization “brand”
 Create mission statements, etc. and review and define them on a regular basis.

5.
GEN Y
 Misconceptions
Entitled
Spoiled
Impatient
Technology- addicted
Need Instant Gratification
Need Constant Praise

6.
GEN Y REALITY
 Feel “backed up” and delayed in advancement by Boomers staying in the rat
race longer.
 Looking for more than pay-
“They look for fulfillment, relevancy of the work, self- development
and training.” (Baird and Smith, 2009)
 Almost desperate to get ahead in their careers and are looking
for mentors and networking opportunities. (McQueen, 2010)

7.
JOB EMBEDDED-NESS
 Also known as “stickiness”
 Includes both on and off the job factors

8.
ON THE JOB FACTORS
 Links to other workers
 Their own perception of the job and its importance
 Risk of what would be lost if they left

9.
OFF-THE-JOB FACTORS
 Neighborhoods
Subsidizing housing in desirable areas
 Community Engagement
Volunteering through work
 Schools, Stores and Activities
Relationships, discounts, etc.

10.
BIGGEST FACTOR
Family
Dynamic

11.
HELP WITH THE FAMILY
DYNAMIC
 EAP
 Family Activities
 Employee Networking for assistance

12.
CUSTOMER-BASED
APPROACH
 Customer-type of relationship
 Needs of employee are satisfied
“Feeling valued is often more powerful than a raise.” (White, 2012)

13.
CONCLUSIONS
 It’s not all about money
 Stickiness is not about the fear of the unknown
 Need to feel part of the team
 Clear pathway to advancement
 Know their contribution counts
 Needs must be met, just like a customer
 Leaders today must cultivate and motivate to avoid voluntary attrition

14.
WORKS CITED
 Baird, R. & Smith, R. M. (2009, October 19). Don't panic. Newsweek, 154(16), E10. DOI:
resolver.linccweb.org
 Cardy, R., & Lengnick-Hall, M. (2011). Will they stay or will they go? exploring a customer-
oriented approach to employee retention. Journal of Business and Psychology, 26(2),
213-217. Retrieved from disocver.linccweb.org
 Jiang, K., Liu, D., McKay, P. F., Lee, T. W., & Mitchell, T. R. (2012). When and how is job
embeddedness predictive of turnover? A meta-analytic investigation. Journal Of Applied
Psychology, 97(5), 1077-1096.
 Kraimer, M., Seibert, S., Wayne, S., Liden, R., & Bravo, J. (2011). Antecedents and outcomes of
organizational support for development: The critical role of career opportunities. Journal
of Applied Psychology, 96(3), 485-501 inclusive. Retrieved from discover.linccweb.org
 McQueen, M. (2010). The new rules of engagement: A guide to understanding & connecting
with generation y . Garden City, NY: Morgan James Publishing.
 White, D. E. (2012). The secret of employee retention: feeling valued is often more powerful than
a raise. SaskBusiness, 33(3), 44. Retrieved from resolver.linccweb.org
 (2013). Three ways to strengthen talent engagement. T&D, 67(3), 21. Retrieved from
resolver.linccweb.org