Employee Retention
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The document discusses employee retention challenges including worker shortages and the costs of replacing employees. It emphasizes the importance of proper management training, alignment of job expectations, and engaging retention strategies like onboarding and mentorship. Successful organizations utilize competency models, prioritize people skills, and actively contribute to a supportive workplace culture to maintain high retention rates.
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Employee Retention
- 1. How to Attract, Keep, Motivate Your Workforce Employee Retention www.chartcourse.com [email_address]
- 2. Challenges Facing Organizations Worker Shortage Skill Shortage Talent Management Generational Differences Global Competition Diversity Loyalty Environmental Trends
- 3. Critical Findings One Out of Every Three People Plan on Leaving in the Next Two Years Hay Group
- 4. Critical Finding It Costs Much More to Replace Employees Than to Keep Them
- 5. Key Finding Money may attract people to the front door but something else is needed to keep them from going out the back.
- 6. Reasons Retention Efforts Fail Not connected to the vision , mission , and organizational values Top leadership not involved Not made part of the organizational strategy Not tied to the bottom line No clear goals No one held accountable Delegated to HR to fix
- 7. Stoner Manufacturing Sales +400% since 1990 Manufacturing productivity +150% New employees complete a two-week orientation program Employees spend one day shadowing every job in the company including spending time with the company president 60 key measurements and objectives with targets
- 8. Information You Must Know Current Employees : Why do they stay? New Employees : Why did they say yes? Former Employees : Why did they leave? Interviewed , But Said “No”: Why?
- 9. Critical Finding Working for an underperforming boss 80% said the experience prevented them from learning and hurt their career. 85% said it made them want to leave the company. “ War for Talent”
- 10. Manager’s Role in Retention Most Managers Think About Retention When It is Too Late Average Manager Does Not Take Personal Responsibility for Employee’s Departure Most Factors For Turnover Are Within their Control Most Managers Do Not Receive Adequate Training
- 11. Have you ever hired the wrong person?
- 12. Why Good People Quit Poor match between the person and the job Poor fit with the organizational climate and culture Poor alignment between pay and performance Poor connections between the individual, their coworkers, and the supervisor Poor opportunities for growth and advancement
- 13. Hire the Right People How Do You Know What the RIGHT Person Looks Like?
- 14. Typical Hiring Practices Failure to detect motivational fit with job Applicants "exaggerate" to get a job Most hiring decisions made by intuition during the first few minutes of the interview Legal liability Two out of three hires prove to be a bad fit within the first year Most interviewers not properly trained Excellent employees placed in the wrong jobs grow frustrated when unable to utilize their strengths
- 15. Integrity Test-Stop Bad Hires
- 16. Establish Motivational Fit “ Candidate’s interest in doing the job” Determines how long they will stay on the job JOB Alignment Alignment = What a person expects from the job and what the job can offer.
- 17. Use Behaviorial Assessments to Identify The Best People
- 18. Recruitment and Hiring Strategies Create an Alumni Program Internships Affiliate with local schools Job Candidate Satisfaction Surveys Job Shadowing Clear and Realistic Job Previews Look for Passive Groups of People Provide a Referral Bonus Succession Planning
- 19. Onboarding Process FIRST F - First Impressions I – Integrate R – Reinforce S – Sustain and Support for 100 Days T – Talk and Ask Questions
- 20. First 30 Days-”On-Boarding” Prior to Starting Complete forms Welcome gift, greeting etc. Answer questions about benefits, parking etc. Watch orientation video “ Ways to Wow”-ARAMARK First Week “ Lunch Bunch” Meet with Boss Flyer/Photo of new person for all to see Reserved parking spot Send welcome gift to family Give “go-to” list and directory First Month Survey Celebration Party Who was most helpful/harmful? What needs fixing? Know others looking for job? What barriers in the way? Recognition for Parents/Spouse Individual Retention Profile First Week Ad in newspaper “ Meet everyone card” License plate cover Give them a mentor Dumb question coupon book Free meal coupons Benefits in writing
- 21. Evaluate and Measure Number of Vacancies by Department Customer Satisfaction Number of Unqualified Applicants Filling Jobs Navigation Reviews Internal Climate Assessments Key Performance Measures Number of People Who Quit During First 90 Days Department that Has Lowest/highest Turnover and Why Employee Improvement Process Post-Mortem Analysis
- 22. Development Opportunities At least 2 times a year discuss plans for development (Personal & Professional) “Dream jobs” 360 assessment Task force and challenge projects Special opportunities for HPO’s Career Ladders Timely and accurate performance appraisals
- 23. Which Practices Have the Greatest Impact on Productivity and Shareholder Return? TALENT MANAGEMENT Attracting Top Talent Retention of Top Performers Collegial & Flexible Workplace Rewarding Performance & Accountability Communication
- 24. High Retention Organizations Do the Following: Make Greater Use of Competency Models to Select Leaders Rate People Skills as More Important Than Technical Skills Visibly Behave in Ways that Reinforce Values Do Not Tolerate Behaviors that Violate Values Evaluate How Effective They Are, How Well They Take Care of Their People and How They Personally Develop Their Team Assign Responsibility for Retention
- 25. About Greg Smith Founder and President of Chart Your Course International Helps hire and retain top talent Author of eight books Examiner, Malcolm Baldrige National Quality Award (2002-2004) Selected Top-Ten "Rising Stars" in Human Resource Management - HRE Magazine Located in Atlanta, GA
- 26. FREE SEVEN-LESSON COURSE ON EMPLOYEE RETENTION www.highretention.com World Wide Web www.ChartCourse.com Chart Your Course International 770-860-9464
Editor's Notes
- #2: 1 Ask how many been here First time Morning people Left handed Rt. Handed creative How many been lost before?