0000-04_name kronos internal use only 1 welcome to the workforce institute! december 4, 2007
TRANSCRIPT
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1Kronos Internal Use Only
Welcome to theWorkforce Institute! December 4, 2007
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2Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
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3Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 4: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/4.jpg)
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Retention Discussion Goals
•Generate content for opinion article (for WFI site and to “shop” through our PR firm)
•Frame retention risk analysis tool
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Hourly Retention Discussion – Operating Assumptions
•That for most hourly workers, the job is a means to an end
•Hourly workers aren’t looking for self actualization
•Hourly workers generally don’t identify with their work
•The implementation of retention strategies is different for hourly than salaried
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Retention Discussion Questions
– Who are the best-in-class companies for hourly workers? (and why?)
– Are the best in class hourly employers also leaders in their category; i.e. can we make the case that best practice retention = better organizational performance?
– How can employers calibrate retention strategies for hourly workers when there is seasonality to their labor needs?
– Are there public-private initiatives that employers should know about that factor into the retention equation (WOTC, training programs, etc.?)
– Other questions we should be asking?
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Retention Risk Analysis and Mitigation
Current State:
•What is your optimal turnover
rate?
•What is your turnover risk?
•What does unplanned
turnover cost your organization?
Future State:
•Optimal turnover rate controlled
•Unplanned turnover mitigated
•Unplanned turnover costs
reduced
•Impact of best practice
interventions can be measured
Flexibility
Training
Childcare
Wages
Etc….
Best Practice Prescription
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Click on cell and Ranking Your scoreuse pull downs to How important is this factor
fill in these blanks 0= not important; 5= very important
Enter your industry Financial services 0 0What is your curent turnover rate 0.75 5 1.25What is the unemployment rate in your area (30 mile radius) 0.05 5 2.5Are you the one of only a small number of local employers? Yes 5 5Are you known as a "great place to work"? Yes 5 5Do you offer
flexible work hours Yes 5 5realistic picture of the job before they start work Yes 5 5low stress environment Yes 5 5special rewards and recognition Yes 4 4cash bonuses Yes 4 4opportunity to earn more money or work more hours No 4 0transportation / near public transport Yes 3 3child and/or elder care Yes 3 3unpaid leaves of absences No 3 0jobs to friends and relatives Yes 3 3good relationships with co-workers Yes 2 2meals at work Yes 2 2open communiation Yes 2 2
Do you conduct "stay" interviews Yes 5 5conduct exit interviews No 4 0examine turnover by manager and/or department No 3 0track retention and turnover over time Yes 3 3identify top performers and track their retention Yes 3 3
Your estimated score 62.75
Your optimal score 83
Potential improvement 20.25
Tool returns your curve (take it from the Australia study)?Tool returns some prose?Can we monetize this risk?
Sample Retention Risk Calculator
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9Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
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Revisit Our Goals
The mission of the Kronos Workforce Institute is to identify important human capital management issues that affect
productivity and organizational performance, and to empower organizations to more
effectively address these issues through education and research.
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Recap of Our June Meeting
•Presented Kronos story for context-setting, including culture, 5 year vision
•Got buy-in regarding the mission
•Group discussion
– How can workforce management practices drive an organization’s operational excellence?
– Identify potential research and education initiatives for the Institute to pursue
•Established year one content and research priorities
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12Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 13: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/13.jpg)
13Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 14: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/14.jpg)
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What We Must Do to Build Our Reputation
• Publish case studies, white papers, benchmarking standards, meeting proceedings and articles that express unique points of view
• Create a dedicated digital presence to house Institute output and create a dialogue with interested parties
• Continue publishing directed research similar to our work with Harris Interactive
• Publish primary research conducted by Kronos Scientists
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15Kronos Internal Use Only
Metrics
•Are we producing content?
•Are we raising our profile?
•Does the press approach us as thought leaders?
•Are we getting traffic, visits, links to the website?
•Are we getting comments and feedback?
•What are our ratings with search engines?
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We Have a Home!
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History of Blogs: 15 Blogs; 3 Guest
• Welcome – October 2, 2007
• Old home week at HR Tech
• Infotriever is a fickle friend
• GUEST – Bernstein: Is the job market healthy or sick?
• Scenes from an Italian restaurant
• Perspective and Randy Pausch
• The Red Sox and the meaning of work(life)
• Scouting for leaders
• Balancing work and family – What makes the Best Places different?
• GUEST- Ain: Competing for talent at Kronos
• Not everything that happens in Vegas should stay in Vegas (KronosWorks)
• GUEST – Giovannelli: Veterans at work
• When Black Friday comes
• Are books and readers a thing of the past?
• Retaining hourly workers
16 comments posted in
response to the blogs
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Articles Posted
• Supporting Our Troops and Our Employees
• The Challenge at Hand: Balancing Work and Family. What Makes “The Best Places” Different?
• A CFO’s Guide to Creating a High Performance Organization
• Working in America: Absent Workforce Survey Highlights
• Absenteeism - The Bottom-Line Killer
• Winning Customer Loyalty with a Demand-Driven Workforce
• A New Business Imperative: Managing the 21st Century Workforce
• Demand-Driven Workforce Management: Gaining a Competitive Advantage from Your Most Strategic Asset
• Recruit, Reward, Retain: A Look at Strategic & Operational Issues in Building the Right Workforce
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Research Posted
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20Kronos Internal Use Only
Web Metrics to Date
• For 30 days ending Nov 26:
• 910 visits; 739 unique
• 2,510 pageviews – typically the home page, blog, toolkit, advisory board, and “about us”
• 75% of traffic comes from referring sites like kronos.com and links; 10% from search engines like Google. They are searching on “workforceinstitute”.
Note: this doesn’t count visits from inside the Kronos VPN
Monday Nov 5 Monday Nov 26
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21Kronos Internal Use Only
Other Metrics to Date
• WFI-sponsored C-level event at KronosWorks:
– 38 registrants, 30 attendees
• 5 press releases (4 surveys, 1 announcement)
• 5 briefings (Workforce Management, HR World, Boston Globe, The Manufacturer, Human Resource Executive)
• 1 bylined article (Jan 2008, Workspan)
• 16 mentions in the press SHRM Online
Managing Automation
Workforce Management x2
Chain Store Age
Boston Globe
The Slate
Progressive Grocer
Indianapolis Star
Bayou Business Review
Houma Courier
Rock Hill Herald
Milwaukee Journal Sentinel
Richmond.com
Associated Content
Management Issues
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22Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 23: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/23.jpg)
23Kronos Internal Use Only
How You Can Help
•Set up your RSS feed
•Promote the WFI and the website to your network!
•Do a guest blog
•Submit a comment
•Submit a proposal for research, articles
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Keep in Touch at “Members Only” Page
Shhh!The password
is “ginger”
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25Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 26: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/26.jpg)
26Kronos Internal Use Only
Candidate Projects
• Impact Of Reading and Technology Literacy on Employee Recruiting, Selection, and Retention Practices
•What onboarding and training factors influence retention rates of hires in the hourly workforce?
•Differences in the attraction, selection, and retention of field workers by generation
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27Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 28: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/28.jpg)
28Kronos Internal Use Only
Editorial Calendar (also on the site)
Month Content owner Topic
Jan Bernstein and Bramson
Doing well by doing good
Feb Tim Lett Using analytics to drive improved workforce performance
Mar Jeff Hunter Innovation in hourly workforce management
Apr Deb McGrath Applications of social networking in workforce management
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29Kronos Internal Use Only
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our goals as an institute
• Review our progress to date, metrics
• Discuss strategies for increasing the visibility of and audience for our output
• Break
• Pick a primary research project for 2008.
• Expand the editorial calendar into the next 12 months
• Wrap Up
![Page 30: 0000-04_name Kronos Internal Use Only 1 Welcome to the Workforce Institute! December 4, 2007](https://reader035.vdocuments.us/reader035/viewer/2022070400/56649e615503460f94b5c22a/html5/thumbnails/30.jpg)
30Kronos Internal Use Only
What’s Next
•Expand our website content with existing material
•Break new ground with new content
•Post new surveys
•What else in the short term?
•Meet in May or June
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