What’s your business “Plunder rate”
Most managers believe that their people leave the business for more money because that’s what their departing talent tells them. (It saves having to burn bridges and spoil relationships with the employer and is always believable).
The plunder rate is defined as the actual cost above the current job salary that a competitor would have to pay in order to plunder your talent from you. Understanding your “plunder rate” can be a good indication whether your departing talent is telling the truth about their reasons for leaving.
If your competitors are having to increase pay by 25% to attract your talent to join them then your plunder rate reveals that your talent very content and difficult to dislodge.
However, if your talent is prepared to be plundered for an increase that’s less than 10% of salary then one can assume that the reason “Ain’t for the money, mate!”.
At a time when far sighted businesses are looking for top talent to ride out a financial downturn any reasons for a low plunder rate in our business needs to be investigated and changed.
The reasons, other than money, for a low plunder rate could include discontent with career prospects, management decisions, lack of personal development or a host of other reasons.
In any event there is a need to implement some changes in management style before the very best talent is working for the competition.
make solar panels…
When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several e-mails with the same comment. Is there any way you can remove people from that service? Thanks a lot!…
If you go back to your original comment and move to settings you should be able to remove request.
I can’t do so on your behalf