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Abstract:
We investigate whether managers can be made to matter for firm success by reducing personnel turnover. We carry out a field experiment in a retail chain with 238 stores and 7,700 employees. Our main treatment consists of a communication to managers which makes the problem of personnel turnover salient and asks them to do what they can to bring turnover down. We observe a reduction in quit rates of up to a third compared to the control group, an effect that is persistent over nine months. The treatment effect vanishes afterwards, but after a reminder treatment with a similar communication, we, again, observe a fall in personnel turnover of the same magnitude. Through numerous surveys, we identify the mechanisms; treated managers interact more frequently with their employees, and employees report more managerial attention and support.

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www.gsb.stanford.edu/sites/gsb/files/ame_06_17_friebel.pdf