There are many reasons why managers spend sleepless nights. In a hot market situation for talent, one of the key issues that keep managers worried is increasing difficulty with retention of people. While HR is busy doing exit interviews and churning out creative analysis and reports, managers continue to battle the attrition menace and are often caught between increasing pressure to deliver on time and ensuring that the team remains intact.

Now, the question is whether managers can do something about losing people and containing the loss or do they have to be merely a mute witness to the problem at hand. I strongly believe that managers can play a significant role in retaining people. Gallup studies have strongly indicated, “people join corporations, but leave managers!”

“It is all about money, Honey” Managers:
Heard of this proverb? “If the only tool you have is hammer, every problem will look like a nail.” Managers who belong to this type believe that doling out more money is the only solution to retaining people. True that people move jobs for higher compensation, but in most cases, the reason why people start to look out is often not money. Interestingly enough, just look around and you will notice that some of the companies that have very high attrition are also the companies that pay sky-high compensation. Employees from these companies have changed jobs for lesser salaries in reality.

Three fundamental questions:
I have these three questions to ask those managers who rush to HR with an SOS for raising someone’s salary by a handsome percentage. Their oft-repeated plea is that the employee under discussion is absolutely critical / key for success and if he or she leaves, the project will tumble and client will spit fire and shift business. If you are one of those managers, I have these three questions for you:
* How come you suddenly ‘discovered’ that this employee is key as soon as he or she resigned?