Compensation, Benefits and Employee Turnover: HR Strategies for Retaining Top Talent. (May 2013)

• Record Type: Journal Article
• Authors: Bryant, Phil C.; Allen, David G.
• Is Part Of: Compensation & benefits review. Volume 45:Number 3(2013)
• Page Start: 171
• Page End: 175
• Publication Date: 2013-05
• Subjects: turnover -- retention -- rewards -- compensation -- talent; Wages -- United States -- Periodicals; Compensation management -- United States -- Periodicals; Employee fringe benefits -- United States -- Periodicals; Executives -- Salaries, etc -- United States -- Periodicals; 658.222
• DOI: 10.1177/0886368713494342
• Languages: English
• ISSNs: 0886-3687

Abstract

Employee turnover is recognized as costly and disruptive. The costs of employee turnover often exceed 100% of the annual salary for the vacated position. Yet managers are often unaware of the full range of tools and tactics available for effectively managing employee turnover. Based on award-winning research and professional experience, the article offers managers several strategies for effectively managing employee turnover. Strategies offered include both compensation and benefits–based solutions and solutions beyond compensation and benefits.