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CONTRIBUTORS:
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JOURNAL:
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Chief Executive Magazine,
37(12),
40 -
42.
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YEAR:
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2005
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PUB TYPE:
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Journal Article
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SUBJECT(S):
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Talent Management, Employee Turnover, Human Capital Management, Human Resources, Brain Drain, Retention Strategy
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DISCIPLINE:
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Business/Management
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HTTP:
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http://www.chiefexe.com
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LANGUAGE:
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Korean
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PUB ID:
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103-421-720
(Last edited on
2005/12/01 22:23:12 US/Mountain)
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SPONSOR(S):
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ABSTRACT:
In the more dynamic economy of today’s Korea, young people have varied career opportunities; and many are taking a more active role in handling their career. They also have higher expectations for their future success. What is more, the recent memory of the financial crisis of the late 1990’s has made it all too clear that even the most successful companies can submerge into a sea of bankruptcy and leave all hands to fend for themselves. Quite naturally then, individual workers are taking more care to see that they get what they want out of the employer-employee relationship and exercising their option to jump-ship if a better opportunity comes along. The most troublesome aspect of this new trend is that companies are starting to lose some of their most promising people; especially after the organization has invested heavily in each employees development.
A closer look at the phenomenon of Voluntary Turnover reveals why we lose some of our “best and brightest.” Fortunately, world-class organizations like GE, Motorola, 3M and others have found ways to retain their top performers and build talent pools to fill key technical and general management positions.
This article provides a case illustration and examples of Retention best practices.
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