 Walmart incident, what should I do? |
Walmart 9:30 PM November 7th, 2008
My brother, his friend, my friend, myself, and my Mom decided to do some last minute shopping after a movie. We entered the store, and departed our own ... |
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Additional Details
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DQ | Is turnover ever good for business? |
Does anybody know of any research that explores how turnover could be a good thing for companies?
Additional Details
I work at company that has very low turnover rates. This is good in some aspects but it also seems to create unmotivated workers who seem to never leave the company. I am looking for ways to increase/manage turnover in order to keep workers motivated and bring in fresh talent |
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Vladimir Putin
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You are on the right track, I consulted for a large company this year where (a big-name consulting company) told the CEO that they need more fresh blood in the organization - because when you have too many old timers, the organziation stagnates.
How to do it? There are lots of methods - Jack Welch, former boss of General Electric, was famous for his "fire the bottom 10% performers every quarter" philosophy. Also, you could offer early retirement packages to the older workers to get them to leave. |
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Poppa Burgandy
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what kind of turnover? Employee turnover? The casino/gaming industry has an extremely larege employee turnover rate, and that industry never hurts. Customer turnover? I cant even begin to imagine how this could be a bad thing. |
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titanbooboo
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it can be it may bring an influx of new ideas and more enthusiasm to the workplace |
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lucky
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it depends on the type of company you are working for, if people see that your employees aren't happy, it says something about the company and the way you run business. |
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happybirthday
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Check out Jack Welch's book titled, "Winning." There's a great section there about using differentiation, 20/70/10. The 20 represents the Top 20 percent of employees who are your star performers. The middle 70 are the average workers. Because this middle section is very large, you may want to separate the middle 70 into 20/70/10 as well. The bottom 10 are the below average employees (slackers, lazy people, inefficient people, bad attitudes). That 10 should be monitored closely and anyone with poor attitudes, really have to go because poor attitudes are infectious and can demotivate everyone around them. Of course, with the differentiation model, there is always a bottom 10. These are the people you want to motivate into the middle 70 or replace with new talent. |
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Some Guy
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Turnover can be very good for business - as long as it's involuntary (i.e. you firing the employees, not the employees quiting voluntarily).
By firing the unerperformers each year and rewarding those who stay with above-average raises, you create a corporate culture where people work hard to get ahead and where laziness / corner-cutting is not accepted. Many top management consulting firms have "up or on" policies, in which you are either promoted within a couple of years, or you are fired. So the people who make it to the top are extremely talented and well-compensated, and those who don't are able to find good jobs somewhere else and hopefully become customers of the consulting firm. |
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pismocrab
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A few important notes about forced-rank performance management systems or "rank and yank" as it was known at GE courtesy of Jack Welch.
-In a very stagnant workforce it can be useful to solve the problems you cite.
-The system should not be employed for more than a year or two or you run the risk of destroying morale and creating a cutthroat culture.
-The performance "curve" should only be applied to large pools of employees - we're talking hundreds or more. Otherwise you run the risk of forcing out real talent in high-talent groups.
Lastly, it's not all it's promoted to be. See the cover story in Fortune magazine this week about how "Jack's Rules" don't work anymore. |
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american chick
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well it is |
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