Staff retention levels are costing the UK several billion a year. According to PricewaterhouseCoopers (PwC) staff turnover is running at 10.4% – higher than the USA at 7% and France and Germany at only 5%.
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The buzzword in HR circles is about how to manage change and talent more effectively. Is this is a post recession syndrome?
Change management has always been there and various methodologies have come and gone over time. Kurt Lewin’s model of change talked about “unfreeze – change – freeze” which is useful in thinking about the need to break down rigid ways of thinking. However it wrongly suggests that leaders can make people change.
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At a recent conference in London on Engaging with Employees and Managing Talent effectively, we debated how to retain talent before they are lured away by competitors or increasingly, becoming self employed consultants.
More on Hang on to your top talent – give them global assignments
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At a recent employee engagement conference in London, I facilitated a discussion on talent management. As predicted in 2008, the war on talent hasn't gone away – it just hasn't been in the headlines with so many organisations right sizing to survive the recession.
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It was interesting to read a recent report by the Chartered Institute of Personnel and Development (CIPD) regarding the high number of roles being offshored and the steady number of migrant workers in the UK.
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