Heard a new term at a conference session last week by Henkel Consumer Goods CEO Brad Casper. He was talking about strides the company has made in employee retention and he used a term I've never heard before.
He said Henkel had significantly reduced its rate of "regretted turnover."
Of course it makes perfect sense to delineate between overall turnover, some of which is a healthy exodus of malcontents and mopes, and only a percentage of which is truly damaging.
The term is probably old hat in HR circles, but it was a new one on me.
k bosch says
i haven’t heard this term before but i wish my previous employer, a large corporation, would’ve been aware of it – or at least discussed the concept of it.
when i was working there, the VP of my dept asked for feedback on employee morale and so i sent him an email expressing that we were experiencing great pain (and loss of morale) when we lost high ranking/performing employees who left on their own, a relatively frequent occurrence. initially he was interested enough to give me a personal phone call (a huge rarity), but since i missed it, i never heard back from him again.
i would be curious to know from Casper what exactly they do to retain the high performers…it would be valuable information for managers.