Week 7: Retention as a Key to the Human Capital Cycle

Recruitment and Retention
Institution
Date
Retention
Human capital cycle refers to those who come into the organization. It is important to manage them and ensure the top talent does not leave. Turnover costs companies millions of dollars, and, thus, companies need to strategize retention program. Having less turnover means increased quality and consistent output (Burkholder, Edwards, & Sartain, 2004). Organizations must thus employ the right individual, train them consistently and then provide a working environment in which these employees may want to stay.
Hiring external managers takes approximately three years to gather experience and reach the same level of productivity compared to the internally promoted manager (Heneman, 2009). Winning companies have distinct cultures that their employees chose to belong. These cultures have been brought to limelight by the growing lack of employee commitment. Therefore, to stay relevant companies have to tend their culture, nourish it and shape it, for it is this culture that talented employees may want to asso...