making retention a long-term objective… not a short-term reaction mike temkin vice...
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Making Retention Making Retention A Long-Term Objective…A Long-Term Objective…
Not A Short-Term ReactionNot A Short-Term Reaction
Mike TemkinMike Temkin
Vice President-Strategic Planning & DevelopmentVice President-Strategic Planning & Development
Shaker Recruitment Advertising & CommunicationsShaker Recruitment Advertising & Communications
Job Satisfaction Job Satisfaction 45%45%
Lowest Level Recorded in 22 Lowest Level Recorded in 22 yearsyears
The Conference BoardThe Conference Board
46% of companies reported 46% of companies reported falling engagement levelsfalling engagement levels
30% improved30% improved
Largest decline seen in 15 yearsLargest decline seen in 15 years
Employee EngagementEmployee EngagementEnd of 2Q – 2010End of 2Q – 2010Hewitt AssociatesHewitt Associates
62% of companies believe voluntary 62% of companies believe voluntary turnover will increase as the economy and turnover will increase as the economy and
job markets improve.job markets improve.
Mercer ConsultingMercer Consulting
28% of all executives concerned 28% of all executives concerned about losing top performers.about losing top performers.
41% of executives at firms of 41% of executives at firms of 1,000 or more employees say 1,000 or more employees say they are somewhat or very they are somewhat or very
concernedconcerned
Robert Half Professional Employment ReportRobert Half Professional Employment Report
Survey of 4,000+ CompaniesSurvey of 4,000+ Companies
2Q – 20102Q – 2010More employees quit their jobs More employees quit their jobs
than were terminatedthan were terminated
U. S. Bureau Of Labor StatisticsU. S. Bureau Of Labor Statistics
12% of high potential employees 12% of high potential employees were already searching were already searching
for a new jobfor a new job
Harvard Business Review, May 2010Harvard Business Review, May 2010
33% of American workers say will 33% of American workers say will look for new jobs once look for new jobs once
the economy gets betterthe economy gets better
Harris InteractiveHarris Interactive
Of those who plan to job hunt 48% are Of those who plan to job hunt 48% are mainly motivated by a loss of trust in mainly motivated by a loss of trust in
their employerstheir employers
Harris InteractiveHarris Interactive
41% of U.S. workers surveyed 41% of U.S. workers surveyed said the recession has made said the recession has made
them more inclined to look for them more inclined to look for new opportunities outside their new opportunities outside their
firms.firms.
Robert HalfRobert Half
Survey of 1,000+ WorkersSurvey of 1,000+ Workers
Estimates the cost of replacing Estimates the cost of replacing an employee at up to 250% of an employee at up to 250% of their annual salary. And that their annual salary. And that doesn’t include the value of doesn’t include the value of
institutional knowledge leaving institutional knowledge leaving the workplace.the workplace.
Harvard Business ReviewHarvard Business Review
From a overall corporate From a overall corporate perspective…. turnover costs perspective…. turnover costs
organizations more than 12% of organizations more than 12% of pretax income, all the way up to pretax income, all the way up to
40% for some.40% for some.
PriceWaterhouseCoopers’ Saratoga InstitutePriceWaterhouseCoopers’ Saratoga Institute
37% less absenteeism 37% less absenteeism
25% less turnover in high-turnover organizations25% less turnover in high-turnover organizations
49% less turnover in low-turnover organizations49% less turnover in low-turnover organizations
27% less shrinkage 27% less shrinkage
49% fewer safety incidents 49% fewer safety incidents
60% fewer product defects60% fewer product defects
Gallup Gallup
Top Quartile of Gallup's Engagement DatabaseTop Quartile of Gallup's Engagement Database
When Compared To Business Units In The Bottom Quartile. When Compared To Business Units In The Bottom Quartile.
Top Three Reasons Employees Are LeavingTop Three Reasons Employees Are Leaving
1) Lack of faith in the leadership or vision of the 1) Lack of faith in the leadership or vision of the companycompany
2) Concerns with the way employer/management are 2) Concerns with the way employer/management are treating peopletreating people
3) Lack of employer/management support in areas of 3) Lack of employer/management support in areas of performance review and employee developmentperformance review and employee development
Gallup OrganizationGallup Organization
30% of respondents are engaged.30% of respondents are engaged.52% are not engaged.52% are not engaged.
18% are actively disengaged.18% are actively disengaged.
Gallup OrganizationGallup Organization
Study On EngagementStudy On Engagement
TelecommuteTelecommuteAutonomyAutonomy
ProductivityProductivityAccountabilityAccountability
GuidanceGuidanceTransparencyTransparency
CompensationCompensation
Community OutreachCommunity OutreachTrust and Track Trust and Track
Screening & TrainingScreening & TrainingLearn, Grow and CompensateLearn, Grow and Compensate
Coach In The MomentCoach In The Moment
Making Retention A Long-Term Objective…Not A Short-Term Reaction
Mike Temkin
Vice President-Strategic Planning & Development
Shaker Recruitment Advertising & Communications
““Communicate Hope”Communicate Hope”“Office Communicator”“Office Communicator”
Discretionary ParticipationDiscretionary ParticipationGaming/Social Networking Gaming/Social Networking
Recognition/RewardRecognition/RewardVirtual LettersVirtual Letters
Distressed OrganizationDistressed Organization13,000 employees/6 hospitals13,000 employees/6 hospitals
Organizational OverhaulOrganizational OverhaulCommunication & CollaborationCommunication & Collaboration
Business RealignmentBusiness RealignmentMotivating Ennobling PurposeMotivating Ennobling Purpose
Consolidation/LayoffsConsolidation/Layoffs
““Fanatical Service”Fanatical Service”“Rackers”“Rackers”
Training & DevelopmentTraining & DevelopmentEmpowermentEmpowerment
The Straightjacket AwardThe Straightjacket Award
On-The-Spot-BonusOn-The-Spot-BonusNo Permission RequiredNo Permission Required
Not Just Fun Not Just Fun Not Just SupportiveNot Just Supportive
But Driven And RewardedBut Driven And Rewarded
Annual Snaggies Awards Annual Snaggies Awards Gilligan Snaggy Gilligan Snaggy
Mother Teresa Snaggy Mother Teresa Snaggy Elmer’s Glue Snaggy Elmer’s Glue Snaggy
Chris Farley Memorial Snaggy Chris Farley Memorial Snaggy
Employee DevelopmentEmployee DevelopmentUp Through The RanksUp Through The Ranks
From Loading To Driving TrucksFrom Loading To Driving Trucks75+% of 44,000 managers 75+% of 44,000 managers
Most Vice-PresidentsMost Vice-Presidents
Community First, Company Community First, Company SecondSecond
Voice of the Village – CEO/MayorVoice of the Village – CEO/MayorTown Hall MeetingsTown Hall Meetings
Open Honest CommunicationOpen Honest CommunicationClarity and FocusClarity and FocusPositive AttitudePositive Attitude
Consistent Employee Consistent Employee RecognitionRecognition
ERE Excellence In RetentionERE Excellence In RetentionNot-For-ProfitNot-For-Profit
2% Turnover vs. 37%2% Turnover vs. 37%Connection - Staff & VolunteersConnection - Staff & Volunteers
$ Cost - $11 million per year$ Cost - $11 million per yearTalent Opportunity ProgramTalent Opportunity Program
3 year / 3 phase Program3 year / 3 phase Program5 point Online & Offline Support5 point Online & Offline Support
Merger with National City Merger with National City 20% Decrease In Requisitions20% Decrease In Requisitions
Repositioned Recruiters Repositioned Recruiters Retention / Internal MobilityRetention / Internal Mobility
Proactive Talent ManagementProactive Talent Management551 People Redeployed551 People Redeployed
Saved $9 MillionSaved $9 Million
New Hire Engagement ProcessNew Hire Engagement Process“Stay Connected” “Stay Connected”
6 Month On-boarding Program6 Month On-boarding Program“REACH”“REACH”
“Reinforcing Employees To “Reinforcing Employees To Achieve Career Heights” Achieve Career Heights”
Consistent Communication Consistent Communication 6, 9, 12 and 18 Months6, 9, 12 and 18 Months
Developmental Discussion Developmental Discussion TopicsTopics
2,500 employees2,500 employees“Star Award” Program“Star Award” Program$1 million - Three Tiers$1 million - Three Tiers
1) $100 Gifts w/o Mgt Approval1) $100 Gifts w/o Mgt Approval2) $350 - $3,000 w/ Mgt 2) $350 - $3,000 w/ Mgt
ApprovalApproval3) CEO Award – Crystal Trophy 3) CEO Award – Crystal Trophy
No Tracking Of SpendNo Tracking Of SpendEmployee Engagement SurveyEmployee Engagement Survey
Community, CamaraderieCommunity, Camaraderie
““Cheers”Cheers”Tiered Peer-Recognition Tiered Peer-Recognition
ProgramProgram6,500 Employees6,500 Employees
1) Online Peer 1) Online Peer AcknowledgementAcknowledgement
2) Co-Worker Nominated 2) Co-Worker Nominated Co-Worker of the MonthCo-Worker of the Month
3) Collectively Decide 3) Collectively Decide Co-Worker of the YearCo-Worker of the Year
Acquisition Growth 6,500 to Acquisition Growth 6,500 to 14,00014,000
“Applause”“Applause”Recognition Tied To Core ValuesRecognition Tied To Core Values
Trust / Innovation / Action or Trust / Innovation / Action or Customer-Driven InitiativesCustomer-Driven Initiatives
Employment Engagement Up Employment Engagement Up 14%14%
38 employees – 8 managers38 employees – 8 managersEmployee of the MonthEmployee of the Month
Personal AcknowledgementPersonal Acknowledgement
High Employee TurnoverHigh Employee TurnoverDiscounted College DegreesDiscounted College Degrees
Online UniversityOnline University15% Reduction On Tuition15% Reduction On Tuition
FT Employee For A YearFT Employee For A YearPT Employee For 3 YearPT Employee For 3 Year
Only Lost 1 Employee In 2 YearsOnly Lost 1 Employee In 2 YearsAverage Tenure Was 4 MonthsAverage Tenure Was 4 Months
Free Career TrainingFree Career TrainingTurnover ReducedTurnover Reduced
300% in 2007 to 0% in 2009300% in 2007 to 0% in 2009
Relationships & AccomplishmentsRelationships & AccomplishmentsRe-Recruit EverydayRe-Recruit Everyday
Everyone Should Be MarketableEveryone Should Be MarketableDevelopment Is An AdvantageDevelopment Is An Advantage
THE TAKEAWAYTHE TAKEAWAY
NOT Reluctant To Offer NOT Reluctant To Offer RecognitionRecognition
NOT Waiting For Resignations NOT Waiting For Resignations
NOT Waiting For Exit InterviewNOT Waiting For Exit Interview
Set Clear, Compelling VisionSet Clear, Compelling Vision
Consistent CommunicationConsistent Communication
Support Career Growth Support Career Growth
Recognize & Reward Recognize & Reward
Support Employee Well-BeingSupport Employee Well-Being
Focus On The Long Term.
Implement Specific And Measurable Actions And Take
Steps In Areas Where The Organization Will See A Clear
Impact.
Involve All Stakeholders Involve All Stakeholders Including Top Leadership AndAnd
Clearly Communicate Their Roles. Clearly Communicate Their Roles.
Understand and Focus On Key Understand and Focus On Key Employee Segments And Critical Employee Segments And Critical
Talent.Talent.
Strengthen The On-Boarding Strengthen The On-Boarding Process.Process.
Manage The Message. Manage The Message. Contribute To The Dialogue. Contribute To The Dialogue.
Build The Expectations…Build The Expectations…The Momentum and The Morale.The Momentum and The Morale.
Mike TemkinMike TemkinVice President – Strategic Vice President – Strategic
Planning and DevelopmentPlanning and Development
Shaker Recruitment Advertising Shaker Recruitment Advertising & Communications& Communications
Mike TemkinMike Temkin
http://www.linkedin.com/in/miketemkin
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http://twitter.com/MikeTemkin
http://shakerrecruitment.ning.com/profile/MikeTemhttp://shakerrecruitment.ning.com/profile/MikeTemkinkin