FOR IMMEDIATE RELEASE
Contact: Jan King
Phone: (800) 821-2487 (770) 860-9464
BUSINESSES WASTE BILLIONS REPLACING TOP PERFORMERS
Author and management consultant, Greg Smith says, "This country is
facing a growing labor shortage and most businesses do not have a formal
employee retention program."
Atlanta, GA (May 1, 2007) Imagine–you have been working late to finish
an important project when your project manager walks into your office and
tells you she has been offered a better job. As she turns to depart she
says, "There are others thinking about leaving too."
What went wrong? How are you going to finish this project? Who will be
next to leave? The dread is starting to sink in. Surveys show one out of
every three people plan on quitting their jobs this year. Employee
turnover is having a catastrophic impact on many businesses and
industries across the country. The greatest risk employers face is losing
their best and brightest.
International business consultant and author Gregory P. Smith is making
waves as one of the nation's top employee retention experts. His new
book, 401 Proven Ways to Retain Your Best Employees, provides practical
solutions to promote high employee retention in your workplace.
Executives say employee retention is one of the top issues keeping them
up at night. There are several reasons why. On one end of the workforce,
the Baby Boomer generation is retiring leaving fewer skilled people to
choose from. On the other end, a smaller group of younger workers is
entering the workforce whose loyalties and priorities lie within
themselves first and foremost. The average tenure of a 20-something is
only 18 months creating a swinging door and a cycle of misery for
Few businesses consider the impact of turnover on their bottom line. It
takes $7,000 – $17,000 to replace a typical employee; to replace a key
manager costs the same as buying a Lexus. To replace a critical care
nurse can run up to $185,000. And when a top talented individual in a key
role departs, it can run into the millions.
Smith states, "Most employee turnover issues can be prevented." Many
organizations are clueless and do little to prevent good people from
leaving prematurely. For example, one CEO rewards outstanding employees
by allowing them to drive his BMW M3 convertible for a week.
401 Proven Ways to Retain Your Best Employees provides a wealth of
information, tips, advice, and case studies that allow for quick
reference and practical application. Ten years of research has gone into
this book. Smith says, "It is a great tool for busy managers who don't
have time to read dozens of books on theory. It is all here in one small
He is the CEO and founder of Chart Your Course International, a
performance management consulting firm located in Atlanta, GA. Greg has
provided advice to many of the "Top 100 Best Places to Work" and served
as an advisor to the U.S. Army Surgeon General. His message is
international as he has traveled to and worked with businesses in 22
countries. He is a former Examiner for the Malcolm Baldrige National
Quality Award, which is awarded each year by the President of the United
States. He also was selected by the Human Resource Executive Magazine as
one of the nation's "Top-Ten Rising Stars" in Human Resource Management.
He has authored eight books including Here Today, Here Tomorrow:
Transforming Your Workforce from High-Turnover to High-Retention. When
Greg is not working, he loves to sail and raise orchids.
We help businesses identify, hire, develop, and retain top employees
Don't miss Greg's latest book!
401 Proven Ways to Retain Your Best Employees