Retensa experts assist members of Georgetown’s graduate business program.
New York, NY, October 2002 – Retensa, a leader in Human Capital Research and Management, has conducted definitive research on program effectiveness and retention rates at high profile companies. A team of graduate students from Georgetown’s prestigious MBA program will be leveraging this research to conduct an organizational behavior project. The team will apply Retensa’s cost-of-turnover model to facilitate the their goal of assessing employee retention rates of new hires, mainly recent college graduates, 24 to 29 years of age, at a well-known pharmaceutical company. Preliminary results indicate that the voluntary turnover rate for new hires is as high as 60-70% per year. Additionally, the team will analyze the effects of this level of turnover and what initiatives can be employed to curtail this statistic.
Retention: The Untapped Solution
A company’s human capital is its strength in tough economic conditions. Therefore, companies are becoming more aware of the importance of keeping their best employees. Through the use of organizational research, companies can identify the current state of retention in their business units, and respond accordingly. As the economy slowly begins to improve, along with new career opportunities, companies continue to address their retention strategies in order to maintain their competitive edge. Otherwise, they will be forced to undertake costly rehiring and retraining efforts due to unplanned employee turnover. This underscores the value of using accurate measures to validate retention efforts for the purpose of reducing costs and decreasing turnover. Research helps students, employees, and executives stay current on most effective trends and techniques in the industry.
About Retensa:
Understanding your People is what our People do.
Retensa is the leader and innovator of Employee Retention Strategies. They combine experience and web-based technology to develop, motivate, and retain a company’s best employees. Retensa customizes solutions to help organizations achieve significant cost-savings and performance improvements.
Through the creation of a “Retention Environment,” Retensa provides additional expertise in Leadership Development, Human Capital ROI, HR Metrics, EmployeeSurveys, Exit Interviews, and Mentoring, with a cutting-edge focus on workforce technology.
Contact Retensa
212.545.1280 or email requests@retensa.com for more information about the solutions you can receive.