Excessive employee turnover is costly, and retaining top talent has increasingly become a challenge in a harsh and competitive labor market.

Arguably, both the federal government and the business community reflect more diversity in their respective ranks than ever before. Does that mean – as was said in some corners when President Obama was elected in 2008 – that we’ve entered a “post-racial” era? Or, when it comes to ethnic and other types of diversity representation, are we still a work in progress?

Companies that want to succeed in an increasingly competitive corporate climate must attract the best and brightest candidates, but simply getting them on board isn’t enough. Putting in place a plan that improves those in leadership roles, and gives all employees a chance to succeed when called upon to take the reins is a necessary reality that, according to some reports, is being ignored.

Probably nothing is more challenging for corporate managers than managing people. It’s a skill that somehow slips through the cracks both in academic and on-the-job training. So reports Fox Business.