The Power of Stay Interviews - SHRA 10.6 - C-Suite …...2017/10/06 · üLocal/national talent...

DickFinnegan

Copyright2017allrightsreserved

BringbroadreachworkingwithscoresofUSCompaniesandacross6continents,withtargetedretentionandengagement

techniquesformanyindustries

Business-drivenbytranslatingturnover%sandsurveyscorestothelanguageofCEOswhich

isDollar$

Improvedretention20-70%basedonourfounder’stop-selling,industry-changingbooks

EndorsedbyChiefExecutiveMagazine,ConsultingMagazine,andBusinessWeekwhichsaid,“Offersfreshthinkingforsolvingtheturnover

probleminanyeconomy”

C-SuiteAnalytics&TheFinneganInstitute

ThePowerofStayInterviews

AStayInterviewisastructured discussionaleader conductswitheachindividualemployeetolearnthespecificactionsshemusttaketostrengthenthatemployee’sengagementandretentionwiththeorganization

StayInterviews…

Bringinformationthatcanbeusedtoday

Focusonindividualemployeesincludingtopperformers

Putmanagers inthesolutionseat

ProvenApproachThatCutsTurnover

µ CaseStudiesComingµ CaseStudiesComingµ CaseStudiesComing

IndianaManufacturing 67%

FloridaHospitalNurses 70%

Hilton’sCallCenters 50%

0

5

10

15

20

25

30

2009 2010 2011 2012 2013 2014 2015 2016

U.S.VoluntaryQuitPercentages,Post-Recession…U.S.BureauofLaborStatistics

YoungU.S.workerswillhold10-14jobsbyage38

EngagementStuck…per Gallup/Deloitte0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

ENGAGED

NOTENGAGED

ACTIVELYDISENGAGED

U.S.spends$1.53Billioneachyeartoimproveengagement

^ ReduceCostofTurnover^ ImproveEmployeeEngagement^ ImproveRevenue&Profitability

Dollars

ReportTurnoverinDollar$

Actualclientturnovercostsbyjob:

üPhysician…$225,808üSoftwareengineer….$131,000üCallcenterrepresentative…$29,447üTruckloader/unloader…$4,955

HowMuchDoesItCosttoLoseATopPerformer?


Goals

RetentionProgramsaredrivenfromthesideliketownhallmeetings,employeeappreciationweek,newsletters

BusinessAccountabilitiesaredrivenbyexecutivesfromthetoplikesales,service,quality,&safety

86%ofthetime

AreYourRetentionEffortsDrivenby…Accountabilities Programs

“Ifyouhaveaturnoverproblem,lookfirsttoyourmanagers”…Gallup

Employeesstayformanagersfirstandco-workerssecond…salary.com

Employees’levelsofengagementhigherwhentheirsupervisorshadhigherlevelsofengagement…DDI

“Whenemployeesstay,itisbecauseoftheirimmediatemanagers”…NationalEducationAssociation

Employeeswhostayprimarilyfortheirsupervisorsstaylonger,performbetter,andaremoresatisfiedwiththeirpay…TalentKeepers

Supervisor’sImpactonEngagement&Retention

TheRealPowerofSupervision

Kenexainterviewed1,000recently-quitemployeesandaskedabout pay,benefits,development,advancementandrelationshipswithsupervisors…andfoundsupervisorrelationshipsinfluencedallotheropinions,concluding…

“Offeringahighersalaryordevelopmental/advancement

opportunitymaynotbeenoughtoretainemployees”

EngagementStuck…per Gallup/Deloitte0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

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ENGAGED

NOTENGAGED

ACTIVELYDISENGAGED

U.S.spends$1.53Billioneachyeartoimproveengagement

Howmuchdomanagersinfluencetheiremployees’levelsofengagement?

DataperGallup

IntroducingthePowerOfTrust

WhyWasYourBestBossYourBestBoss?

WhyWasYourWorstBossYourWorstBoss?

TheFortuneTop100#12012-2016

Babybondingbucks,12weekspaidparentalleave,horseshoepits,Africavolunteering,subsidizedmassages,3wellnesscenters,bikerepairshop,3organicmealsperday,artisantea&coffee,25free

cafeterias…andfreeeyebrowshaping

“Two-thirdsofacompany’sscoreis

basedontheresultsoftheGreat

PlaceToWork’sTrustIndexSurvey”

“Anycompanycanbeagreatplacetowork.Ourapproachisbasedonthemajorfindingsof20yearsofresearch– thattrustbetweenmanagersandemployeesistheprimarydefiningcharacteristicoftheverybestworkplaces.”

TheGreatPlacetoWorkInstitute

BuildingTrust1-1BuildsProfits

OneBigLessonLearned

It’snotwhatyougivethem,it’showyoutreatthem…andfirstlinesupervisorsmostinfluenceemployees’relationshipswithmanagers,colleagues,andduties Insanity:Doingthesamething

overandoveragainandexpectingdifferentresults


StayInterviews

StayInterviewsAStayInterviewisastructured discussionaleader conductswitheachindividualemployeetolearnthespecificactionsshemusttaketostrengthenthatemployee’sengagementandretentionwiththeorganization

StayInterviews…

Bringinformationthatcanbeusedtoday

Focusonindividualemployeesincludingtopperformers

Putmanagers inthesolutionseat

StayInterviewProcessKeyIngredients

Conductedbysupervisorsvs.HR

SeparatefromPerformanceReview

Repeatatleast1X/yrforallexistingemployees/2timesayearfornewhires

CreateindividualStayActionPlans

ManagersForecastRetention

Top-SellingSHRM-PublishedBookinHistory

StayInterview5Questions

1. Whatdoyoulookforwardtoeachdaywhenyoucommutetowork?

2. Whatareyoulearninghere?Wanttolearn?

3. Whydoyoustayhere?

4. Whenisthelasttimeyouthoughtaboutleavingus?Whatpromptedit?

5. WhatcanIdotomakeyourjobbetterforyou?


Forecast

YourRole:ForecastRetention

Likelytoleaveina6monthsorless

Mayleavein6– 12months

Likelytostaygreaterthana1year

Canbechangedatanytimeifnewinformation

RetentionForecast“HeatMap”Leader:Rodriguez

PerfRating/5Hi,1Lo

Green1+yrs

Yellow6-12Months

Red0-6Months

RetentionPlan

KimJohnson

4 Providementorfor…

BurtBrown 5 Developskillsforpossiblepromotionto…

CindyStone 3 Pleasedwithcurrentrole&circumstance

RalphJimenez

2 Coachingforperformance


Accountability

“A”turnover%identical,“B”down41%,savedmillionsof$s

TheIncrediblePowerofAccountability&First-LineRetentionGoals

Groupofhospitals“solved”nurseturnoverwithonsitechildcare&

flexiblescheduling

STRATEGY A

Outlierhospitalassignedretentiongoalsto

managersandreportedprogressmonthly

STRATEGY B

oneyearlater…

ü Local/nationaltalentshortage,initialturnover100%+ü Hands-onmanufacturingofrecreationalvehiclesü LeaderstaughttoconductStayInterviews,learnedemployees’1-1needsü Retentionaccountabilityreportwithleaders’namesdistributedmonthly

67%CaseStudy#1:IndianaManufacturing

Turnoverreduced67%within5months

ü Demandfornursesmuchhigherthansupplyü Ruralhospital,paybetterincommutableTampaü CNOchallengedtoretainmorenursesü NursemanagerstrainedtoconductStayInterviews,acceptgoalsü CEOdiscussedmonthlyretentionreportagainstgoals

70%CaseStudy#2:FloridaHospitalNurses

Nurseturnoverreducedby70%within6months

ü 5domesticcallcenters,50%90-dayturnoverü Payfor4weeksoftrainingwithnoROIü CEOtoldcentermanagersgoaltoretain75%after90days;recruiters&

trainerssamegoalü ManagerstoptobottomconductedStayInterviewsü 91-daymeetingsincreasedaccountability

50%CaseStudy#3:Hilton’sCallCenters

Turnoverfellbyhalfacrossall5centerswithin4months

Gallup’s100YearCommitmentSurveyingcitizensoftheworldtolearnwhatbringsmosthappinessover100years.Sofartheansweriswhich…

a.Goodhealth?b.Agoodjob?c.Loveandrespectfromothers?d.Moneyforneedsandmore?e.Betterlifeforyourchildren?

Gallup’s100YearCommitment

a.Goodhealth

b.Agoodjobc.Loveandrespectfromothersd.Moneyforneedsandmoree.Betterlifeforyourchildren

ToObtain

[email protected]#ofemployees

ü FreeOnlineStayInterviewTrainingModule

ü HowtoCostTurnover&Engagementü EngagementCorrelationstoProductivity

ü TheStayInterviewManagerTrainingGame

The Power of Stay Interviews - SHRA 10.6 - C-Suite …...2017/10/06 · üLocal/national talent...

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