What insights can be gained from the Corporation for National and Community Service (2015) report regarding annual turnover rates in organizations with work relationships, as mentioned in "Creating Your Circle of Mentors, Sponsors, and Peers for Success in Business and Life"?
Answered on : 2024-01-23
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Answer
1. Annual turnover rates between 24-47% were common in organizations with work relationships, according to the Corporation for National and Community Service (2015) report cited in "Creating Your Circle of Mentors, Sponsors, and Peers for Success in Business and Life" [1].
2. High turnover rates may signal underlying issues like lack of engagement, poor relationships, or insufficient support networks [4].
3. Strategic relationships at work, including mentors, sponsors, and peers, play a crucial role in providing psycho-social, instrumental, and mentoring support for success in one's career [1] [2] [3].
4. Developing multiple mentors is emphasized, explaining why leaders need diverse mentoring relationships [3].
5. Over 70% of Fortune 500 companies reported having mentoring programs as an employee retention strategy [7].
**References:**
- [1] : Creating Your Circle of Mentors, Sponsors, and Peers
- [4] : Strategies for Building Strong Employee Connections
- [7] : A Model for Strengthening Mentors: Frames and Practices
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