RT Vol XVI: Generations: Ch 6
From the Book: The Refractive Thinker® Vol XVI: Generations: Strategies for Managing Generations in the Work Force


Summary

Leaders need to find ways to retain top performers to gain a competitive advantage over competitors. Research indicated a link between employee turnover and supportive leadership, adequate compensation and rewards, and fair treatment (Hwang et al., 2014; Moon, 2017; Pohler & Schmidt, 2016; Shukla & Rai, 2015). Effectively reducing employee turnover in a multigenerational workplace is vital to the success of an organization. To increase the survival of their organizations in a competitive marketplace, leaders must take part in the implementations of effective employee turnover reduction strategies. As the literature indicated, leaders who support employees, use rewards to recognize superior performance, and treat their employees fairly have a positive effect on retention, organizational commitment, job satisfaction, organizational performance, and productivity. By implementing the strategies shared above and using a refractive thinking approach, leaders can effectively reduce employee turnover in a multigenerational workplace.