How to Keep Good Employees in a Bad Economy

Goldsmith, M. (2010). How to keep good employees in a bad economy. Retrieved February 28, 2010 from: http://blogs.hbr.org/goldsmith/2010/02/how_to_keep_good_employees_in.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%29

This article, published on the Harvard Business Review website, explains what managers need to do to retain their key employees during the global economic crisis. The author state that business leaders must manage their human assets with the same vigor they manage their financial assets. He follows with a list and explains six steps managers should use to retain their best workers: show respect, focus on a thriving environment, offer on-going training, provide coaching, give feedback, and lastly, money and decision making. He briefly explains each of these and on the last one, he states that money compensation alone is not enough; people need to be involved in decision making. This is a good article for managers to read and understand because it is important to know what steps you should take to retain you star employees and managers need to be proactive in doing so.