talent talk webinar retention key to successful recruiting

Cytiva Software, Inc.

“Retention: The Key to a Successful Recruiting Strategy”

Hosted By: David FreemanTalent Management Solutions ConsultantCytiva Software Inc.

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“ Retention: The Key to a Successful Recruiting Strategy”

What motivates the Gen Y workforce & why do they leave

Best practices ideas for retention How can you build a solid retention plan


High unemployment: 6.5%– still rising Layoffs Bankruptcies, Home Foreclosures Business Closures Declining MarketWhy worry about retention?


Unemployment rate for college graduates remains low at approximately 2%

They’ve been there, seen that Average tenure less than 2 years Gen Y’ers and their “retention deficit

disorder”


Generation Y

Generation WhY

Generation Next

Millenials

Internet Generation

Nexters

Boomlets

Nintendo Generation

.com

Generation


Approximately 80MM Gen Y workers Born between 1980 – 1994 Internet commonplace 9 out of 10 have a pc at home (according to Forrester Research)


What does a Gen Y’er expect? • Job satisfaction & acknowledgement • Expect to be challenged at work along with a high

degree of personal autonomy• Work/life balance• Communication – often and timely• Higher salaries than their predecessors• Interaction w/ key executives and an open forum

to share ideas


What does a Gen Y’er expect? (cont’d)• A clear career plan• Quick advancement and/or change in job

responsibilities/assignments• Flexible work schedules, additional PTO


What makes them different? • Not as concerned about job security • Have more of a need for self-expression• High expectations and confidence• Inability to concentrate on a single task for long

periods of time – Multi-tasking generation


How can we retain them? • Starts with the recruiting process

• Make it personal!• Establish or re-establish your employment brand• Evaluate your applicant experience• Extend a compelling offer

• Onboarding• Training• Communication• Career path planning• Mentoring


How can we retain them? (cont’d)• Performance Management

• Help the establish career goals• Regular, timely feedback• Career development, continuing education, learning

opportunities

• Maintain Work/life balance, flexibility• Recognize and reward • Maintain a modern working environment



Best Practices ideas for retention How can you build a solid retention plan


Best Practices• It’s all about the culture

• Choice • Balance • Development • Care

• Empower them- give them the ability and authority to get things done

• Treat them with respect and trust


Best Practices (cont’d)• Continual training and development• Strong performance management process• Recognize and reward accomplishments• Hire the right people in the first place


Best Practices – examples• Flexible schedules

• Flex time• Telecommuting

• Days off to recognize a job well done• Acknowledging personal milestones• Instant rewards


Best Practices – examples• Voluntary benefits programs

• 529 plans• Long-term care insurance• Pet insurance

• Computer discount and purchase assistance programs (Dell and HP)

• Regularly having fun at work• Theme days• Parties• Ice cream break

• Financial planning counseling


Establishing a retention plan• Determine what your employees want• Determine what the current climate is at your

company – reality check• Establish a written plan – involve your employees

in its development• Exit interviewing • Track your results


Determine what they want• Share the details of your project with the team• Ask them individually for ideas• Ask them in a group to brainstorm ideas• Observe them in action – pay close attention


Determine the current climate• Employee morale survey• Be honest with yourself and your management

team • Review existing feedback if available – 360

evaluations, employee hotline, etc.


Establish a written plan• Takes some courage• Set priorities based on what’s most important to

your employees based on your findings• Apply standard action plan/goal writing

techniques to your plan: S.M.A.R.T• Involve the entire management team to attain

organizational buy-in• Publish the completed plan and review regularly


Exit interviewing• Establish a guideline for exit interviews; Who?

When? How? • Good idea to use a third party• Schedule exit interview reviews


Track your results• Follow-up morale surveys• Employee observation worksheets• Plan review committee• Key performance indicators

• Retention %• Turnover % - especially voluntary turnover• Reasons for turnover• Performance Review Scores

Cytiva’s Free Webinar series

• Sourcing Talent in a Time of Scarcity • Getting the Most Out of Your Recruiting Investment • Six Steps To Implementing Performance Management

Software • Interview Techniques and Strategies for Hiring top

Performers • Retention: The Key to a Successful Recruiting Plan

Download at: www.sonicrecruit.com/company/events.htm

http://www.sonicrecruit.com/company/events.htm

“Building an Effective Referral Program to Source Quality Hires”

Cytiva Software Inc. offers a wide variety of products and services to help you get the most out of your recruiting efforts.

Talent Acquisition System• Custom career sites• Employee referral management• Career agents• Ad posting and tracking • Manager self-service• Contact management/Outlook integration• EEO/OFCCP compliance• Vendor Management Module• Onboarding Module• Hourly Recruiting System

Consulting SonicPerform Performance Management SystemTo learn more contact: David FreemanTalent Management Solutions Consultant877-775-0888www.sonicrecruit.com