Thursday, May 30, 2013

Employee turnover spiraling out of control?

Employee turnover is like spiraling stairs

How effective is your organisation right now at attracting and retaining talent?

Let’s use a scale of 1 to 10:

1 Really ineffective

5 Not great but doing some things well

10 Really effective

Not sure yet where your organisation belongs?

We’ll give you some insight into what a ‘Highly ineffective retention organisation’ looks like – that’s a 1/10 on our scale.

So, what does a 1/10 look like? An organisation is highly ineffective at retaining talent if it…

Loses lots of new recruits
Loses a disproportionate % of high performers
Loses an increasing % of all staff
Experiences increasing grievances
Fields increasing customer complaints
Records increasing compliance breaches
Sees an increase in staff sick leave
Records increases in safety problems
Loses staff for 70%+ ‘Push’ factors #
Low Retention Index (our measure of intended tenure)
Has vacancy days increasing
Pays higher recruitment costs
Attracts lower calibre recruits
Faces higher wage demands
Doesn’t know who its high value employees are
Doesn’t have a retention strategy
Fails to train its managers in retention skills
Fails to make managers accountable for retention
Doesn’t collect join/stay/quit data
Has a negative Net Promoter Score+

Want to improve your employee turnover & effectiveness at retaining talent? We would be happy to help.

Call Retention Partners on 1300 73 8371

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