Dick Finnegan - C-Suite Analytics · 2020-03-04 · Finnegan Bio 2 “Recovering HR director”...
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Dick Finnegan
Transcript of Dick Finnegan - C-Suite Analytics · 2020-03-04 · Finnegan Bio 2 “Recovering HR director”...
DickFinnegan
FinneganBio
2
“RecoveringHRdirector” solvedturnoverforSiberianbanks,Africangoldmines,Chinesemul=-na=onalcorpora=ons…andtheCIA
Author,RethinkingReten.oninGoodTimesandBad,
excerptedbyBusinessWeek;“freshthinkingforsolvingtheturnoverprobleminanyeconomy”
Author,ThePowerofStayInterviewsforEngagement&Reten.on,
top-sellingSHRM-publishedbookinhistory
Author,TheStayInterview,publishedin20languages
+audiobook
Author,HR’sGreatestChallenge,distributedfreetotop
globalHRexecu=ves
Today’sAgenda
StayInterviews:What&Why?
TrustBuildingEssen=als
StayInterviewProcess&Prac=ce
StayAc=onPlan&Reten=onForecast
WhatMakesPeopleHappy?
PennsylvaniaCaseStudy
Reducedturnoveramongblendedcasemanagers,theirhighestturnoverjob,from32%to4%,an88%decreaseThisistheirstory…withsomeimportantdataincludedupfront
ThePowerofStayInterviews
AStayInterviewisastructureddiscussionaleaderconductswitheachindividualemployeetolearnthespecificac9onsshemusttaketostrengthenthatemployee’sengagementandreten9onwiththeorganiza9on
StayInterviews…
! Bringinforma9onthatcanbeusedtoday
! Focusonindividualemployeesincludingtopperformers
! Putmanagersinthesolu9onseat
0510152025
2009 2010 2011 2012 2013 2014 2015
U.S.VoluntaryQuitPercentages,Post-Recession…U.S.BureauofLaborSta.s.cs
YoungU.S.workerswillhold10-14jobsbyage38
ReportTurnoverinDollar$
Actualclientturnovercostsbyjob:! Physician…$225,808! Soawareengineer….$131,000! Callcenterrepresenta=ve…$29,447! Truckloader/unloader…$4,955
EngagementStuckGallup/Bersin
HowMuchMoreDoEngagedEmployeesProduce?
" Gallup:22%moreprofitability/lowerturnover(TO)/higherearningspershare(EPS)
" GPTWIns=tute:20%moreproduc=vity/lowerTO/higherEPS
" Hewij:%engagedcorrelateswithhighershareholderreturns(S/H)
" Kenexa:doubleS/Hreturns
" WorkUSA/WatsonWyaj:26%morerevenueperemployee
Reten=onProgramsaredrivenfromthesideliketownhallmee=ngs,employeeapprecia=onweek,newslejers
BusinessAccountabili=esaredrivenbyexecu=vesfromthetoplikesales,service,quality,&safety
86%ofthe.me
AreYourReten=onEffortsDrivenby…
Accountabili=es Programs
“Ifyouhaveaturnoverproblem,lookfirsttoyourmanagers”…Gallup
Employeesstayformanagersfirstandco-workerssecond…salary.com
Employees’levelsofengagementhigherwhentheirsupervisorshadhigherlevelsofengagement…DDI
“Whenemployeesstay,itisbecauseoftheirimmediatemanagers”…Na.onalEduca.onAssocia.on
Employeeswhostayprimarilyfortheirsupervisorsstaylonger,performbejer,andaremoresa=sfiedwiththeirpay…TalentKeepers
Supervisor’sImpactonEngagement&Reten=on
TheRealPowerofSupervision
Kenexainterviewed1,000recently-quitemployeesandaskedaboutpay,benefits,development,advancementandrela=onshipswithsupervisors…andfoundsupervisorrela.onshipsinfluencedallotheropinions,concluding…
“Offeringahighersalaryordevelopmental/advancement
opportunitymaynotbeenoughtoretainemployees”
EngagementStuckGallup/Bersin
Howmuchdomanagersinfluencetheiremployees’levelsofengagement?
DataperGallup
TheIncrediblePowerofAccountability&First-LineReten=onGoals
StrategyAGroupofhospitals“solved”nurseturnoverwithonsitechildcare&flexiblescheduling
StrategyBOutlierhospitalassignedreten=ongoalstomanagersandreportedprogressmonthly
OneYearLater:“A”turnover%iden.cal,“B”down41%,savedmillionsof$s
WhichSideMajersMore?
Pay,benefits,bonuses,Employeeapprecia=onweek,Employeeofthemonth,Brownbaglunches,Leaderboardwinners,careerLadders,employeesurveys,Exitsurveys,onboarding,Trainingmonitoringsessions,Teammee=ngs,all-handsMee=ngs…andalmosteverythingelse
WhichSideMajersMore?
Pay,benefits,bonuses,Employeeapprecia=onweek,Employeeofthemonth,Brownbaglunches,Leaderboardwinners,careerLadders,employeesurveys,Exitsurveys,onboarding,Trainingmonitoringsessions,Teammee=ngs,all-hands
Mee=ngs…andalmosteverythingelse
Employeestrusttheirdirectsupervisorsonalllevelsthroughoutyourorganiza=on
SupervisorsvsProgramsGoodPrograms+GoodSupervisors=Reten.on&Engagement
GoodPrograms+PoorSupervisors=
Turnover&Disengagement
IntroducingthePowerOfTrust
WhyWasYourBestBossYourBestBoss?Mybestbosseverwasmybestbossbecause…
1. __________________2. __________________3. __________________
WhyWasYourWorstBossYourWorstBoss?Myworstbosseverwasmyworstbossbecause…
1. ___________________2. ___________________3. ___________________
TheFortuneTop100,2015:
“ThetechgiantcelebratesitssixthyearatNo.1andrecentlybolstereditsparentalleavebenefits.Newparents,regardlessofgender…cannowgetuptotwelveweeksoffullypaidbabybonding=me.Googlealsoprovides$500of“BabyBondingBucks”toallnewparentstouseduringthefirstthreemonthsoftheirchild’slife.”
TheFortuneTop100,2014
“Googledonates$50foreveryfivehoursanemployeevolunteers.LastyearanewprogramsentemployeestoGhanaandIndiatoworkoncommunityprojects.”
TheFortuneTop100,2013
“TheInternetjuggernauttakestheBestCompaniescrownforthefourth=me,andnotjustforthe100,000hoursofsubsidizedmassagesitdoledoutin2012.Newthisyeararethreewellnesscentersandaseven-acresportscomplex,whichincludesarollerhockeyrink;courtsforbasketball,bocce,andshuffleball;andhorseshoepits”
TheFortuneTop100,2012
“Employeesraveabouttheirmission,theculture,andthefamousperksofthePlex:boccecourts,abowlingalley,eyebrowshaping…25cafes,allgra=s”
“Two-thirdsofacompany’sscoreis
basedontheresultsoftheGreat
PlaceToWork’sTrustIndexSurvey”
“Anycompanycanbeagreatplacetowork.Ourapproachisbasedonthemajorfindingsof20yearsofresearch–thattrustbetweenmanagersandemployeesistheprimarydefiningcharacteris=coftheverybestworkplaces.”
TheGreatPlacetoWorkIns.tute
BuildingTrust1-1BuildsProfits
Google’sQuestToBuildABejerBoss
WhatMakesAGreatBossAt
?
AspublishedinTheNewYorkTimes,March12th,2011
Google’sQuesttoBuildABejerBoss
“Technicalexper=se–theability,say,towritecomputercodeinyoursleep–rankeddeadlastamongGoogle’sbigeight.
Whatemployeesvaluedmostwere…(1) even-keeledbosseswhomade=meforone-on-
onemee=ngs(2) whohelpedpeoplepuzzlethroughproblemsby
askingques=ons,notdicta=nganswers(3) whotookaninterestinemployees’livesand
careers.”
OneBigLessonLearned
It’snotwhatyougivethem,it’showyoutreatthem…andfirstlinesupervisorsmostinfluenceemployees’rela.onshipswithmanagers,colleagues,anddu.es Insanity:Doingthesamething
overandoveragainandexpec=ngdifferentresults
StayInterviews
AStayInterviewisastructureddiscussionaleaderconductswitheachindividualemployeetolearnthespecificac9onsshemusttaketostrengthenthatemployee’sengagementandreten9onwiththeorganiza9on
StayInterviews…
! Bringinforma9onthatcanbeusedtoday
! Focusonindividualemployeesincludingtopperformers
! Putmanagersinthesolu9onseat
3StayInterviewSuccessStories
Novo1CallCentersAgentturnoverdown20%
FloridaHospitalZephyrhillsAllturnoverdown37%Nurseturnoverdown70%
BurchamHillsRe=rementCommunityNurseturnoverdown70%100%reten=onfirst180days
Top-down,CascadingImplementa=on
StayInterviewProcessKeyIngredients
Executives w/ Managers
Managers w/ Supervisors
Supervisors w/ Ind.
Contributors
Time
StayInterviewProcessKeyIngredients
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Conductedbysupervisorsvs.HR
SeparatefromPerformanceReview
Repeatatleast1X/yrforallexis=ngemployees/2=mesayearfornewhires
Scriptopening,ques=ons,probes,closing
CreateindividualStayAc=onPlans
ManagersForecastReten=on
Top-SellingSHRM-PublishedBookinHistory
StayInterviewTop5Ques=ons
1. Whatdoyoulookforwardtoeachdaywhenyoucommutetowork?
2. Whatareyoulearninghere?Wanttolearn?
3. Whydoyoustayhere?
4. Whenisthelast=meyouthoughtaboutleaving?Whatpromptedit?
5. WhatcanIdotomakeyourjobbejerforyou?
Likelytoleaveina6monthsorless
Mayleavein6–12months
Likelytostaygreaterthana1year
Forecasts
Reten=onForecast“HeatMap”Leader:Rodriguez
PerfRa=ng/5Hi,1Lo
Green1+yrs
Yellow6-12
Months
Red0-6Months
Reten=onPlan
KimJohnson
4 Providementorfor…
BurtBrown 5 Developskillsforpossiblepromo=onto…
CindyStone 3 Pleasedwithcurrentrole&circumstance
RalphJimenez
2 Coachingforperformance
HowToBuildStayPlans
! Communica=on! Development! NewRole/Promo=on! Pay! Recogni=on! TooMuchWork
Subject Probes Solu=onsCommunica=on Whatinforma=ondoyou
need?Howdoyouliketoreceiveinforma=on?Inmee=ngs?One-to-one?Byemail?Whataresubjectsforwhichyouwanttoprovideinput?
Scheduleweeklyindividualmee=ngsSolicitinputforteammee=ngagendasCommittocommunicatespecificinforma=onmorequicklyNominateemployeeforaspecific-topicinputgroup
Subject Probes Solu=onsDevelopment Ifyoucouldlearnabout
oneaddi=onaltopicrelatedtoyourjob,whatwouldthatonetopicbe?
Howdoyoulearnbest?Byreading?Listening?Observing?Doing?
HowcanIknowthatourplanisworking,thatyouarelearningwhatwebothwantyoutolearn?
Assignamentorforaspecificnumberofhourseachweekforaspecificperiodofweeks
Askemployeetoiden=fyrelevantbooksandwebsites
Recommendinternaland/orexternalcourses
Subject Probes Solu=onsNewRole/Promo=onTellmetheperfectjobfor
you
Whyisthatjobsoappealingtoyou?
Whatskillsdoyouhavethatqualifyyouforthatjob?Whatskillswouldyouhavetobuild?
Askemployeetomeetwith/shadowincumbentindesiredjobandreportbackon5mostimportantskills
Giveemployeespecificfeedbackonherskilllevelsandskillsneeded
Buildplantodevelopskillsviamentoring,coursework,andfeedback
Subject Probes Solu=onsPay Howmuchmoneydoyou
thinkyoushouldmemaking?
Whatac=onsdoyouseethatyoucantaketoincreaseyourpay?
Whatskillscanyoubuildthatwouldmakeyoumorevaluabletoourcompany?
Checkemployee’spayagainstsame-performingpeerstoverifyitisright
Designdevelopmentplanthatistargetedtowardadifferentroleformorepayifemployeehastalenttoqualify
Ensureemployeeknowsallincen=veopportuni=esthatmightprovideshorter-termrewards
Subject Probes Solu=onsRecogni=on Tellmea=mewhenyou
shouldhavebeenrecognizedbutyouwerenot?
Howdoyouliketoberecognized?Inpublicorprivately?
Howdoesrecogni=onmo=vateyoutoperformbejer?
Committolendingasharpereyetoiden=fyachievementsandrecogni=onopportuni=es
Askemployeetocomeforwardprivatelytotellyouachievementsyoumightoverlookormightnotbevisible
Consideremployeeformonthlyorannualachievementawardsifperformancemeritsconsidera=on
Subject Probes Solu=onsTooMuchWork Whatarethethreemost
importantassignmentsinyourjob?
Whatcanyoustopdoingthatwon’tbemissed?
Whichassignmentgivesyouthemoststress?
Addressstressfirstbycoachingonskills
Eliminateunnecessaryassignments
Re-assignlessimportantassignmentsthatarelesserfitswithemployee’sskills
! ReduceCostofTurnover
! ImproveEmployeeEngagement
! ImproveRevenue&Profitability
Gallup’s100YearCommitment
Surveyingci=zensoftheworldtolearnwhatbringsmosthappinessover100years.Sofartheansweriswhich…
a.Goodhealth?b.Agoodjob?
c.Loveandrespectfromothers?
d.Moneyforneedsandmore?
e.Bejerlifeforyourchildren?
Gallup’s100YearCommitment
a.Goodhealth
b.Agoodjobc.Loveandrespectfromothers
d.Moneyforneedsandmoree.Bejerlifeforyourchildren
! AFreeOnlineStayInterviewTrainingModule! HowtoCostTurnover&Engagement
! EngagementCorrela=onstoProduc=vity! TheStayInterviewManager
TrainingGame
DFinnegan@C-SuiteAnaly=cs.com
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PleaseEmailMeInclude#ofEmployees
