Manager Retention – Drivers & Strategies
When you lose key managers or high potential managers and professionals, there is a major hit on company success - now and in the future. Big disruptions can occur in business and project performance. As a quick fix, you may have to find someone internally to fill their roles who may not yet have the needed skills and experience and that has some risks to it. And the cost of finding a fully qualified external replacement can easily be 2X their salary and could take 3-4 months.
Having worked with over 300 high tech managers in Silicon Valley in the last four years I am seeing some patterns about manager turnover that are also reinforced by recent research.