Employee Retention: Competing for Talent

With the tightest labor market in the past fifty (50) years, companies across the United States are shifting their focus to retaining talent within their workforce. According to a study by the Work Institute, based upon statistics from the U.S. Bureau of Labor Statistics, an estimated forty-one (41) million people voluntarily quit their jobs in 2018. That number is expected to continue to climb. By 2020, the Work Institute expects this figure to reach forty-seven (47) million.

This study also examined why people are leaving their position. The top five (5) motivational factors for an employee to leave a position or company are:

  • Career development;
  • Work-life balance;
  • Manager behavior;
  • Relocation; and/or
  • Compensation and benefits.

To place a dollar figure on employee replacement, each departure costs about one-third (1/3) of the employee’s annual earnings. Companies commonly ask themselves, what are the key ingredients to a successful employee retention program? The secret is creating and sustaining job satisfaction and employee engagement.

Job satisfaction and employee engagement are impacted by five (5) factors:

  • Respectful treatment of all employees at all levels;
  • Compensation/pay;
  • Trust between employees and senior management;
  • Job security; and
  • Opportunities to use their skills and abilities at work.

The importance of addressing these factors is obvious, but actually doing so involves an investment of time. The bottom line is that management must invest their time in employee engagement for the payoff of increased performance, productivity, employee morale, and quality of work.

For tips on how to retain employees or how to create a sustainable employee retention program, please contact HR Partners at 785-233-7860. In addition, we would be pleased to assist you with any other HR matters your business may need guidance with.


Agovino, Theresa. “To Have and to Hold.” SHRM, SHRM, 27 Feb. 2019, https://www.shrm.org

Honoring our Veterans

As part of our ongoing support of the Topeka Community, we would like to take this opportunity to shine a spotlight on Channel 27 News and their weekly Veteran Salute segment. 

This week, Channel 27 highlighted John Dietrick's service in Vietnam. To read the full article or watch the full interview, click on the image below or click here. 

We are thankful to John, and all our Veterans, for their service! 


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HR Advisor Newsletter

What our clients say...

Western Cooperative Electric

Debbie Robinson
Western Cooperative Electric
“I have recently used the services of HR Partners to coordinate the evaluation of our CEO. I found their services made the process convenient and easy to administer. HR Partners also helped us to analyze the results of our CEO evaluation survey offering unique perspectives we may not have otherwise picked up on. I’m very happy with the services I received.”