Montana Tech of The University Putting Mentoring in Reverse Article Report Read the article attached and write a report summarizing your findings. Discuss

Montana Tech of The University Putting Mentoring in Reverse Article Report Read the article attached and write a report summarizing your findings. Discuss how the article relates to the information presented in chapter 10. Thus, to compete effectively, organizations must take steps to ensure
that good performers are motivated to stay with the organization, whereas
chronically low performers are allowed, encouraged, or, if necessary,
forced to leave. Retaining top performers is not always easy, however.
Competing organizations are constantly looking to steal top performers,
and “poaching talent” is becoming an increasingly common way for
organizations to build themselves up, while tearing down their
competitors at the same time. It is also not nearly as easy to fire
employees as many people think. The increased willingness of people to
sue their employers, combined with an unprecedented level of violence in
the workplace, has made discharging employees who lack talent legally
complicated and personally dangerous. Recent data indicate that more than
25,000 occupational assault injuries occur each year at the hands of
employees who claim their stress levels pushed them over the edge. For
example, in 2014, a former employee at United Parcel Services shot and
killed two supervisors who he believed were responsible for his
termination decision.6
This chapter focuses on employee separation and retention. The material
presented in Chapters 8 and 9 can be used to help establish who are the
current effective performers as well as who is likely to respond well to
future developmental opportunities. This chapter completes Part Three by
discussing what can be done to retain high-performing employees who
warrant further development as well as how to manage the separation
process for low-performing employees who have not responded well to
developmental opportunities.
Since much of what needs to be done to retain employees involves
compensation and benefits, this chapter also serves as a bridge to Part
Four, which addresses these issues in more detail. The chapter is divided
into two sections. The first examines involuntary turnover, that is,
turnover initiated by the organization (often among people who would
prefer to stay). The second deals with voluntary turnover, that is,
turnover initiated by employees (who the company often would prefer to
keep). Although both types of turnover reflect employee separation, they
are clearly different phenomena that need to be examined separately.
turnover within the organization is very low for the retail industry. The
turnover rate among employees is less than 5% in a cutthroat industry
where the average is closer to 30%. This feeds directly into Costco’s
business model and strategic plan. Due to Costco’s emphasis on low
prices, 80% of its profit comes from membership fees. Even though
Costco’s membership fees are 20% higher than Sam’s Club’s, over 90% of
customers renew each year, providing a stable and predictable source of
income. CEO Craig Jelinek notes, “We know it’s a lot more profitable in
the long term to minimize employee turnover and maximize employee
productivity, commitment and loyalty. If you treat consumers with respect
and treat employees with respect, good things are going to happen to
you.”
In addition to holding on to key personnel, another hallmark of
successful firms is their ability and willingness to dismiss employees who
are engaging in counterproductive behavior. As we saw in the vignette that
opened this chapter, Wells Fargo took a significant hit in terms of financial
penalties because thousands of employees were opening accounts for
customers, and charging them fees for those accounts, without ever asking
their consent. Beyond the fines, however, is the reputational damage in the
marketplace that these acts caused. If you were a victim of Wells Fargo,
would why would you ever bank there again, given all the other
alternatives available to you?
It is somewhat ironic that one of the keys to retaining productive
employees is ensuring that these people are not being made miserable by
supervisors or co-workers who are engaging in unproductive, disruptive,
or dangerous behavior. Unfortunately, surveys indicate that many
managers—indeed as many as 70%—struggle to give frank and honest
feedback to poorly performing subordinates, and then wind up
experiencing and tolerating poor performance for long periods.3
Introduction
Page 426
Every executive recognizes the need for satisfied, loyal customers. If the
firm is publicly held, it is also safe to assume that every executive
appreciates the need to have satisfied, loyal investors. Customers and
investors provide the financial resources that allow the organization to
survive. However, not every executive understands the need to generate
satisfaction and loyalty among employees. Yet there is a strong link
between employee satisfaction and engagement, on the one hand, and
critical organizational outcomes, on the other hand. This may even be the
deciding factor when it comes to who wins and who loses in the
competitive market because retention rates among employees are related to
retention rates among customers. Research has established a direct link
between employee retention rates and sales growth, and companies that are
cited as one of the “100 Best Companies to Work For” routinely
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outperform their competition on many other financial indicators of
performance. This is especially the case in the service industry, where the
direct contact between employees and customers enhances the relationship
between employee satisfaction and customer satisfaction.
For example, Costco Wholesale is well known throughout the retail
industry for treating its employees better than most of its competitors.
Costco pays many of its its hourly workers over $20/hour, compared to the
industry average of $12/hour. Costco also provides company-sponsored
health insurance to all employees, as well as tuition reimbursement
programs that allow employees who start out at the lowest level of the
shop floor to climb the corporate ladder. The result is that voluntary

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