Dick Finnegan - C-Suite Analytics · Finnegan Bio 2 “Recovering HR ... Calculate turnover’s...
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Dick Finnegan
Transcript of Dick Finnegan - C-Suite Analytics · Finnegan Bio 2 “Recovering HR ... Calculate turnover’s...
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
PennsylvaniaCaseStudy
Reducedturnoveramongblendedcasemanagers,theirhighestturnoverjob,from32%to4%,an88%decreaseThisistheirstory…withsomeimportantdataincludedupfront
0510152025
2009 2010 2011 2012 2013 2014 2015
U.S.VoluntaryQuitPercentages,Post-Recession…U.S.BureauofLaborSta.s.cs
YoungU.S.workerswillhold10-14jobsbyage38
EngagementStuckGallup/Deloi\e
ExitSurveys
EmployeeSurveys
EngagementSurveys
Data?Yes
“Theydon’tgenerallygetinvolvedintheac.onstakenbyanorganiza.oninresponsetotheengagementresults–reallyjustdeliveryofthesurveyandthenrepor.ng.”
TopEmployeeSurveyCompanyExecu=ve
ProblemisClear
Solu=ons?No!
Reten=onProgramsaredrivenfromthesideliketownhallmee=ngs,employeeapprecia=onweek,newsle\ers
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,performbe\er,andaremoresa=sfiedwiththeirpay…TalentKeepers
Supervisor’sImpactonEngagement&Reten=on
TheRealPowerofSupervision
Aglobalconsul-ngfirminterviewed1,000recently-quitemployeesandaskedaboutpay,benefits,development,advancementandrela=onshipswithsupervisors…andfoundsupervisorrela.onshipsinfluencedallotheropinions,concluding…
“Offeringahighersalaryordevelopmental/advancement
opportunitymaynotbeenoughtoretainemployees”
Howmuchdomanagersinfluencetheiremployees’levelsofengagement?
DataperGallup
TheIncrediblePowerofAccountability&First-LineReten=onGoals
StrategyAGroupofhospitals“solved”nurseturnoverwithonsitechildcare&flexiblescheduling
StrategyBOutlierhospitalassignedreten=ongoalstomanagersandreportedprogressmonthly
OneYearLater:“A”turnover%iden.cal,“B”down41%,savedmillionsof$s
WhoWasYourBestBoss?WorstBoss?
TheFortuneTop100,2012-2016:
! $500babybondingbucks! SendsvolunteerstoGhana,India! Subsidizedmassages! Gyms,recrea=onfields,horseshoepits! Freeeyebrowshaping
“Two-thirdsofacompany’sscoreisbasedontheresultsofthe
GreatPlaceToWork’sTrustIndexSurvey”
“Anycompanycanbeagreatplacetowork.Ourapproachisbasedonthemajorfindingsof20yearsofresearch–thattrustbetweenmanagersandemployeesistheprimarydefiningcharacteris=coftheverybestworkplaces.”
TheGreatPlacetoWorkIns.tute
BuildingTrust1-1BuildsProfits
TheRethinkingReten=onModel®
Research-Driven,
Process-Based
TheRethinkingReten=onModel®
TheRethinkingReten=onModel®StrategiesForSupervisors…
Point#4.Holdsupervisorsaccountableforachievingreten=ongoals
Point#5.Developsupervisorstobuildtrustwiththeirteams
StrategiesForPeopleManagementProcesses…
Point#6.Narrowthefrontdoortoclosethebackdoor
Point#7.Scriptemployees’first90days
Point#8.Challengepoliciestoensuretheydrivereten=on
StrategiesForTopManagement…
Point#9.Calculateturnover’scosttogalvanizereten=onasabusinessissue
Point#10.Drivereten=onfromthetop,asexecu=veshavethegreatestimpactonachievingreten=ongoals
Reten=on&EngagementAccountabili=esMustBeDrivenDownFromtheCEOtoFirst-LineSupervisors
TheEngagement&Reten=onSecretSauce
VersusImplementEmployeeProgramsThatGoAroundSupervisors
ThisIsHowCompaniesDriveSales&Service
PennsylvaniaCaseStudy
Reducedturnoveramongblendedcasemanagers,theirhighestturnoverjob,from32%to4%,an88%decrease,by…
1. Conver=ngturnoverto
dollars2. Establishingreten=ongoals3. Trainingmanagerstobuild
trust4. ImplementedRJPsand
employeereferrals
CEO,ourturnoveris19%andthebenchmarkis20%
ORCEO,ourturnoveris19%andit’scos=ngus$7.9MMeachyear
Benchmarkmeansstandard,average,mediocre…sowhichstatementdrivesmoreac=on?
BenchmarksBuildFalseHope
TheIncrediblePowerofAccountability&First-LineReten=onGoals
StrategyAGroupofhospitals“solved”nurseturnoverwithonsitechildcare&flexiblescheduling
StrategyBOutlierhospitalassignedreten=ongoalstomanagersandreportedprogressmonthly
OneYearLater:“A”turnover%iden.cal,“B”down41%,savedmillionsof$s
BuildingTrust1-1BuildsProfits
WhatIsAnRJP?
Seeingisbelieving….burninggrease,sub-freezingcooler,licingboxes,cleaning
restrooms
BestSourcingMethodforReten=onIsReferrals
Employeereferralsstaylongerandthey…Performbe\erAcceptlessmoneyBeginwithafriendatworkBroadenyourrecruiterpoolIncreaseyourapplicantflowwithbe\erapplicants
BestReferralIdeas
Establish a %-of-hires goal and hold someone accountable
Provide awards employees really want Have coffee with most-connected new hires
Provide awards in public such as using large checks
Open awards to everyone, even customers
Provide quarterly trips and post pictures
Give managers a quarterly goal for their teams to refer
And…NewHireOfferScriptGood news! We have a job to offer you Offer includes pay, benefits, other… We hope you accept except in some cases we hope you don’t Please say yes only if you see yourself with us for at least __ years Obstacles might be you want to go to school, accept another job, relocate We will spend much money developing you so it would be unethical to accept our job without envisioning staying for __ years I’m not asking for a commitment, just that you can see it What time should I call you tomorrow for your decision?
Delivered best by hiring manager
is hereby granted to:
Kristin Scottto certify that this person has completed all the requirements of the Certified Employee Retention Professional Program
and has earned the CERP distinction Granted: June 7, 2011
Richard P. Finnegan, Founder
Certificate of Completion
IntroducingTheCer=fiedEmployeeReten=onProfessionalProgram
" APPLIEDvstest-based" Deliveredonlinewithcheck-inswithDickFinnegan" SupportedbySHRM&HRCIwith26credits
• BOSTHealthcarereducedturnoverby38%
• BurchamHillsRe=rementCommunityreducedturnover34%andisretaining100%ofnewnursesforatleast6months
FastResults:Auer2MonthsWithTheCERPProgram…
TotalResults:3recentpar=cipantscutturnover41%,56%,and88%
Reten=onCer=fica=onSite
“MyCEOandInowknowthatlosingjustonephysiciancostsus$225,808.Wewillreducephysicianturnoverby35%thisyearbasedoninforma.onI’velearnedfromtheCERP”…ByronSelden,DirectorofHumanResources,HealthPartnersofWesternOhio“AskmyEVPifthisprogramisworththemoney.Henowcompletelyunderstandsthecostoflosingfund-raisers,thepoweroursupervisorshavetocontrolit,andthetop3thingsweneedtodotoimproveit.Nowemployeereten.onisatop-levelmetrichere”…LatonyaDaniels,VicePresident,HR,AmericanHeartAssocia=on“Ourmembersneedbutcan’taffordmanagementtrainingforsupervisors...andeventhatisincludedinthisprogram”…JenHiggins,DirectorofWorkforceDevelopment,OhioAssocia=onofCommunityHealthCenters
Par=cipantEndorsements
OurProposal
Thecostforonecandidate’spar=cipa=onintheCERPisreducedfrom$1,000to$799
Teampar=cipa=onincludesmonthlycallswithDickFinnegan
is hereby granted to:
Kristin Scottto certify that this person has completed all the requirements of the Certified Employee Retention Professional Program
and has earned the CERP distinction Granted: June 7, 2011
Richard P. Finnegan, Founder
Certificate of Completion
ForMoreInforma=on…
Dick Finnegan 407.694.3390
