Dick Finnegan. Copyright 2017 all rights reserved

Transcription

1 Dick Finnegan Copyright 2017 all rights reserved

2 Introducing C-Suite Analytics Bring broad reach working with scores of US Companies and across 6 continents, with targeted retention techniques for many industries Improved retention 20-70% based on our founder s top-selling, industry-changing books Endorsed by Chief Executive Magazine, Consulting Magazine, and BusinessWeek which said, Offers fresh thinking for solving the turnover problem in any economy Business-driven by translating turnover %s and survey scores to the language of CEOs which is Dollar$

3 The C-Suite Analytics Retention & Engagement Education Series TODAY: Drive Leadership Accountability for Retention With the Stay Interview Process July 28 th, 2 PM Eastern Time: Cut Your Turnover Costs with the Stay Interview Process August 30 th, 2 PM Eastern Time: A Stay Interview Process that Gets Results September 29 th, 2 PM Eastern Time: Leveraging Stay Interviews to Drive Improved Engagement At 27 th Annual NTDA Convention, Ponte Vedre, FL October 11 th : Stay Interviews to Hire & Train Millennials October 12 th : Retention Solutions For Keeping Top Talent

4 Employee Retention Is The Top Business Challenge Today Harvard Business Review: Top thing CEOs worry about is talent management Inc Magazine: The biggest challenges these CEOs face every day attracting and retaining talent Gallup: A record 47% of the workforce say now is a good time to find a quality job Chief Executive Magazine: 75% of CEOs say recruiting and retaining key talent is their top business challenge

5 Client Turnover Reductions National Collision Repair Chain: 45% Ohio Trucking Co: 42% Indiana Manufacturing Co: 67%

6 U.S. Voluntary Quit Percentages, Post-Recession U.S. Bureau of Labor Statistics Young U.S. workers will hold jobs by age

7 Engagement Stuck per Gallup/Deloitte % 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ENGAGED NOT ENGAGED ACTIVELY DISENGAGED U.S. spends $1.53 Billion each year to improve engagement 2000

8 The Power of Stay Interviews A Stay Interview is a structured discussion a leader conducts with each individual employee to learn the specific actions she must take to strengthen that employee s engagement and retention with the organization Stay Interviews Bring information that can be used today Focus on individual employees including top performers Put managers in the solution seat

9 ^ ^ ^ Reduce Cost of Turnover Improve Employee Engagement Improve Revenue & Profitability

10 Are Your Retention Efforts Driven by Accountabilities Business Accountabilities are driven by executives from the top like sales, service, quality, & safety Programs Retention Programs are driven from the side like town hall meetings, employee appreciation week, newsletters 86% of the time

11 Problem is Clear Exit Surveys Data Yes Employee Surveys Engagement Surveys Solutions No! They don t generally get involved in the actions taken by an organization in response to the engagement results really just delivery of the survey and then reporting. Top Employee Survey Company Executive

12 Supervisor s Impact on Engagement & Retention If you have a turnover problem, look first to your managers Gallup Employees stay for managers first and co-workers second salary.com Employees levels of engagement higher when their supervisors had higher levels of engagement DDI When employees stay, it is because of their immediate managers National Education Association Employees who stay primarily for their supervisors stay longer, perform better, and are more satisfied with their pay TalentKeepers

13 The Real Power of Supervision Kenexa interviewed 1,000 recently-quit employees and asked about pay, benefits, development, advancement and relationships with supervisors and found supervisor relationships influenced all other opinions, concluding Offering a higher salary or developmental/advancement opportunity may not be enough to retain employees

14 Engagement Stuck per Gallup/Deloitte % 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ENGAGED NOT ENGAGED ACTIVELY DISENGAGED U.S. spends $1.53 Billion each year to improve engagement 2000

15 First-Line Supervisors Impact on Engagement Data per Gallup

16 Retention Goals Two turnover goals after first Stay Interviews conducted: üreduce total annual turnover by 20% üreduce first-year turnover by 20%

17 Retention Goals Two turnover goals after first Stay Interviews conducted: ü Reduce total annual turnover by 20% ü Reduce first-year turnover by 20% But Key Questions are WHO has the goals & WHO is accountable?

18 Introducing the Power Of Trust

19 Why Was Your Best Boss Your Best Boss? Why Was Your Worst Boss Your Worst Boss?

20 The Fortune Top 100 # Baby bonding bucks, 12 weeks paid parental leave, horseshoe pits, Africa volunteering, subsidized massages, 3 wellness centers, bike repair shop, 3 organic meals per day, artisan tea & coffee, 25 free cafeterias and free eyebrow shaping

21 Two-thirds of a company s score is based on the results of the Great Place To Work s Trust Index Survey Any company can be a great place to work. Our approach is based on the major findings of 20 years of research that trust between managers and employees is the primary defining characteristic of the very best workplaces. The Great Place to Work Institute

22 Building Trust 1-1 Builds Profits

23 One Big Lesson Learned It s not what you give them, it s how you treat them and first line supervisors most influence employees relationships with managers, colleagues, and duties Insanity: Doing the same thing over and over again and expecting different results

24 Accountability ^ ^ ^ Reduce Cost of Turnover Improve Employee Engagement Improve Revenue & Profitability

25 The Incredible Power of Accountability & First-Line Retention Goals STRATEGY A Group of hospitals solved nurse turnover with onsite child care & flexible scheduling STRATEGY B Outlier hospital assigned retention goals to managers and reported progress monthly one year later A turnover % identical, B down 41%, saved millions of $s

26 The Retention Goal-Setting Chart Metric Goal Methodology CEO Supervisors & Above Top HR HR Recruiters New Hire Trainers All Turnover 20% decrease until turnover < 10% First-Year Turnover 20% decrease until turnover < 10% Hi Performers/ Hi Potentials Retain 95% each year

27 Data to Consider for Turnover Goals 1. Count ALL exits vs some

28 Data to Consider for Turnover Goals 1. Count ALL exits vs some 2. Establish first-year goal against the tipping point

29 Data to Consider for Turnover Goals 1. Count ALL exits vs some 2. Establish first-year goal against the tipping point 3. Base HiPers and Hipos on objective data vs performance reviews; no more than 25% total team

30 The Retention Goal-Setting Chart Metric Goal Methodology CEO Supervisors & Above All Turnover First-Year Turnover Hi Performers/ Hi Potentials 20% decrease until turnover < 10% 20% decrease until turnover < 10% Retain 95% each year Top HR Yes Yes Yes Yes Yes Yes Yes Yes Yes HR Recruiters New Hire Trainers

31 Fair for Recruiters & Trainers To Have Retention Goals? ü 91-day meetings for recruiters, trainers, supervisors to achieve 75% retention goal ü ALL Turnover down 50% in four months

32 The Retention Goal-Setting Chart Metric Goal Methodology CEO Supervisors & Above All Turnover First-Year Turnover Hi Performers/ Hi Potentials 20% decrease until turnover < 10% 20% decrease until turnover < 10% Retain 95% each year Top HR Yes Yes Yes HR Recruiters New Hire Trainers Yes Yes Yes Yes Yes Yes Yes Yes

33 The Power of Retention Accountability MANAGER RETENTION GOALS YTD ACTUAL TURNOVER % COST OF TURNOVER Bob Jones All T/O 15% 13% $105,378 1 st Yr T/O 5% 3% 31,254 Sue Michaels All T/O 15% 10% $71,598 1 st Yr T/O 5% 5% 49,560 Ray Murphy All T/O 15% 22% $221,369 1 st Yr T/O 5% 11% 88,321

34 Consequences When You Make/Miss Your Goal? The same as when you make/miss other top-5 goals ü Recognition/good things when you succeed ü Coaching/potentially worse consequences when you fail ü All conducted reasonably

35 6 Steps For Communicating Goals to Managers 1. Provide turnover s cost$ 2. Share leader power data 3. Show all retention goals, topsdown 4. Tell HR s goals, too 5. Display report examples 6. Message delivered by CEO, not HR

36 ^ ^ ^ Reduce Cost of Turnover Improve Employee Engagement Improve Revenue & Profitability

37 Gallup s 100 Year Commitment Surveying citizens of the world to learn what brings most happiness over 100 years. So far the answer is which a. Good health? b. A good job? c. Love and respect from others? d. Money for needs and more? e. Better life for your children?

38 Gallup s 100 Year Commitment a. Good health b. A good job c. Love and respect from others d. Money for needs and more e. Better life for your children

39 The C-Suite Analytics Retention & Engagement Education Series TODAY: Drive Leadership Accountability for Retention With the Stay Interview Process July 28 th, 2 PM Eastern Time: Cut Your Turnover Costs with the Stay Interview Process August 30 th, 2 PM Eastern Time: A Stay Interview Process that Gets Results September 29 th, 2 PM Eastern Time: Leveraging Stay Interviews to Drive Improved Engagement At 27 th Annual NTDA Convention, Ponte Vedre, FL October 11 th : Stay Interviews to Hire & Train Millennials October 12 th : Retention Solutions For Keeping Top Talent

40 To Obtain ü Free Online Stay Interview Training Module ü How to Cost Turnover & Engagement ü Engagement Correlations to Productivity ü The Stay Interview Manager Training Game Include # of employees