What insights can be gathered from the Corporation for National and Community Service (2015) report regarding annual turnover rates and the importance of strategic relationships at work, as mentioned in "Creating Your Circle of Mentors, Sponsors, and Peers for Success in Business and Life" by Murphy and Kram?
Answered on : 2024-01-23
Sources
Answer
1. **Turnover Rates Insights:**
- The Corporation for National and Community Service (2015) notes that organizations they work with commonly experience annual turnover rates ranging from 24% to 47% [1].
- High turnover rates may indicate deeper issues like engagement problems, poor relationships, or inadequate support networks in the workplace [4].
2. **Strategic Relationships at Work:**
- "Creating Your Circle of Mentors, Sponsors, and Peers for Success in Business and Life" emphasizes the significance of developmental relationships for psycho-social, instrumental, and mentoring support in one's career [1].
- The book by Murphy and Kram highlights the effectiveness of formal programs leveraging mentors, sponsors, and coaches to develop talent in the workplace [2].
In summary, understanding and fostering strategic relationships at work can be crucial in addressing high turnover rates and creating a supportive work environment.
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