Social Networks as a retention mechanism

Thought this was very interesting. Shel Holtz being interviewed by Ron Shewchuk

Question #2: Which company do you think does internal communications best, and why?

Shel: I'm reluctant to pick "the best," because there are a lot of companies whose internal communication programs I haven't seen. That said, I've always been impressed with the communications at Best Buy. It's open and candid. It promotes business literacy. It uses multiple channels. And they're always open to new ideas. Not too long ago, for instance, they introduced the Blue Shirt Nation, a social network for retail workers accessible over the World Wide Web. It has become a force of nature. Twenty percent of retail workers have created profiles. Turnover in the retail workforce is about 75%, but among those with BSN profiles, it has dropped to 8%. These are engaged employees with a solid network of colleagues they would have to abandon if they left.#

via For your Approval

That sounds pretty conclusive, but it's possible that it's only the employees that are engaged and motivated anyway who are joining Blue Shirt Nation. It would be great to identify a control group that share similar engaged characteristics to see what the difference in turnover is.

Thinking about this some more (what - you expect me to think *before* I post ??), maybe it doesn't matter. We *know* that engaged employees are less likely to leave, and if we can provide more places for them to communicate and network, thus deepening and broadening their engagement with the organisation, and, more importantly, their peers, then we're doing a good thing - regardless of whether the place is virtual or real.