HR SeriesManaging and Retaining

About Ben Eubanks

Agenda

Retention● Panel● Presentation● Q&A

Panel Discussion● Tell me about a time you wanted to retain someone but couldn't. What

happened? ● Should organizations do regular “stay” interviews (meetings designed to

uncover why someone stays with an organization, akin to exit interviews)? Why or why not?

● What can exit interviews tell us about retention/turnover?● What should our target be as far as retention goes? Is 100% reasonable?

If yes, why? If no, why not?● What does the average employee tenure say about your company’s

retention efforts?● What is the best way we can approach retention strategically? By focusing

heavily on the relationship between manager and employee, by focusing on a culture that makes people want to stay, or something else?

Before We Begin...

Status Check

Today

The Numbers

1. Build a strategy (14%)

2. Communicate with critical talent

3. Focus on a high-performing culture

Source: Brandon Hall Group

It’s Bigger Than Retention

● Performance: are you losing top performers?● Succession: are you losing key players?● Recruiting: what does retention say about

your recruiting/selection process? ● Benefits: is this driving retention or

contributing to turnover?

It’s Bigger Than Retention

● Compensation: is the comp strategy tied in with retention expectations?

● Training: are you offering developmental opportunities to the right people, and more importantly, do they matter?

● Career paths: are you building career paths to help retain employees?

It’s Bigger Than Retention

● Risk management: “An astounding 59% of employees that were laid off or fired last year admitted to stealing data from employers. Among the data taken were employee records (35%), financial information (16%), and customer information (39%).

And get this: 79% of them admitted that their former employers didn’t allow that sort of information to be taken off-site…”

Talent Management Malpractice

There is a major disconnect with regard to how managers understand retention. According to the research, 89% of managers believe employees leave/stay for money; however, surveys show 80-90% of employees leave for reasons not related to pay (job fit, manager, culture, work environment, etc.)

Source: 7 Hidden Reason Employees Leave

Discussion Time

What is one thing your company/managers do that contributes to retention?

What is one thing your company/managers do that contributes to turnover?

What defines an engaged employee at your org?

Ask the Experts

Tim Sackett

1. Fire the manager with lowest retention2. Measure, but post publicly3. Fire your worst performers4. Have leadership talk about it often5. “Save Strategy” (CEO discussion)

Chris Ferdinandi

1. Ignore retention2. Recruit well3. Inspire daily

Robin Schooling

1. You have to look at the type/reasons2. Who owns retention?3. The underlying strategy matters (bank

example)

Dave Ryan

1. The Jack Welch “Rank and Yank” Strategy

2. Do you need “A Players?” No, do you really?

3. Paradox: the longer people stay the better we feel the hire was, but the more it hurts when they leave as well

Heather Vogel

1. Focus on the social-emotional connection

2. Development opportunities linking to mission

3. Use social to recruit fits

Laura Schroeder

1. Are you retaining or detaining?2. How does “detaining” affect

performance?3. What’s a good example of detaining?

Keith McIlvane

1. Leverage manager reviews2. Focus on culture: if they enjoy it, they

will stay

Technology

Google FormsNobscotHalogen SoftwareUltimate Software Retention Predictor

Things We Didn’t Even Cover!

• Motivation• Incentives• The power of feedback• Employee engagement• Other…

Additional Resources

Employee Retention eBookEmployee Engagement eBook7 Hidden Reasons Employees Leave

Wrapping Up

?

Let’s Connect!

● Twitter: @beneubanks● LinkedIn: linkedin.com/in/beneubanks● Email: ben@upstarthr.com● Free eBooks on HR departments of one,

engagement, onboarding, retention, and more: upstarthr.com/freebies