Do you conduct exit interviews when employees leave?  Do you analyze the results?

Fortunately Deloitte & Touche did so and found that two-thirds of those departing left for positions they could have had within the company.  With a 20% staff turnover rate, the recruitment, replacement and training costs were a staggering $900 million (Forbes magazine, Oct. 15, 2007).  The company added free internal career coaching and counselling (at a cost of $2 million) but saw its turnover rate fall to 15%.

Organizations owe it to themselves to develop and promote to its employees, especially the newer performers from Gen Y, meaningful career options that not only match their talents, but also coincides with their interests.  Talent is in demand--can you afford to keep looking for it?