Besides the small introduction, subscribers and consulting clients within this management domain have access to:
Integrate data from exit surveys and interviews, engagement surveys, and stay interviews to understand the most commonly cited reasons for employee departure in order to select and prioritize tactics that improve retention. This blueprint will help you identify reasons for regrettable turnover, select solutions, and create an action plan.
Use this tool to document and analyze turnover data to find suitable retention solutions.
The Stay Interview Guide helps managers conduct interviews with current employees, enabling the manager to understand the employee's current engagement level, satisfaction with current role and responsibilities, suggestions for potential improvements, and intent to stay with the organization.
Review best-practice solutions to identify those that are most suitable to your organizational culture and employee needs. Use the IT Retention Solutions Catalog to explore a variety of methods to improve retention, understand their use cases, and determine stakeholder responsibilities.
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Identify the main drivers of turnover at the organization.
Find out what to explore during focus groups.
1.1 Review data to determine why employees join, stay, and leave.
1.2 Identify common themes.
1.3 Prepare for focus groups.
List of common themes/pain points recorded in the Retention Plan Workbook.
Conduct focus groups to explore retention drivers.
Explore identified themes.
2.1 Conduct four 1-hour focus groups with the employee segment(s) identified in the pre-workshop activities.
2.2 Info-Tech facilitators independently analyze results of focus groups and group results by theme.
Focus group feedback.
Focus group feedback analyzed and organized by themes.
Home in on employee needs that are a priority.
A list of initiatives to address the identified needs
3.1 Create an empathy map to identify needs.
3.2 Shortlist retention initiatives.
Employee needs and shortlist of initiatives to address them.
Prepare to launch your retention initiatives.
A clear action plan for implementing your retention initiatives.
4.1 Select retention initiatives.
4.2 Determine goals and metrics.
4.3 Plan stakeholder communication.
4.4 Build a high-level action plan.
Finalized list of retention initiatives.
Goals and associated metrics recorded in the Retention Plan Workbook.
Many organizations are facing an increase in voluntary turnover as low unemployment, a lack of skilled labor, and a rise in the number of vacant roles have given employees more employment choices.
Regrettable turnover is impacting organizational productivity and leading to significant costs associated with employee departures and the recruitment required to replace them.
Many organizations tackle retention from an engagement perspective: Increase engagement to improve retention. This approach doesn't consider the whole problem.
Build the case for creating retention plans by leveraging employee data and feedback to identify the key reasons for turnover that need to be addressed.
Target employee segments and work with management to develop solutions to retain top talent.
Engagement surveys mask the volatility of the employee experience and hide the reason why individual employees leave. You must also talk to employees to understand the moments that matter and engage managers to understand turnover triggers.
As the economy continues to recover from the pandemic, unemployment continues to trend downward even with a looming recession. This leaves more job openings vacant, making it easier for employees to job hop.
With more employees voluntarily choosing to leave jobs, it is more important than ever for organizations to identify key employees they want to retain and put plans in place to keep them.
The number of HR professionals citing retention/turnover as a top workforce management challenge is increasing, and it is now the second highest recruiting priority ("2020 Recruiter Nation Survey," Jobvite, 2020).
65% of employees believe they can find a better position elsewhere (Legaljobs, 2021). This is a challenge for organizations in that they need to find ways to ensure employees want to stay at the organization or they will lose them, which results in high turnover costs.
Executives and IT are making retention and turnover – two sides of the same coin – a priority because they cost organizations money.
Employees with longer tenure have an increased understanding of an organization's policies and processes, which leads to increased productivity (Indeed, 2021).
Turnover often ripples across a team or department, with employees following each other out of the organization (Mereo). Retaining even one individual can often have an impact across the organization.
Retaining key individuals allows them to pass it on to other employees through communities of practice, mentoring, or other knowledge-sharing activities.
Improving retention goes beyond cost savings: Employees who agree with the statement "I expect to be at this organization a year from now" are 71% more likely to put in extra hours and 32% more likely to accomplish more than what is expected of their role (McLean & Company Engagement Survey, 2021; N=77,170 and 97,326 respectively).
Employee engagement is a strong driver of retention, with only 25% of disengaged employees expecting to be at their organization a year from now compared to 92% of engaged employees (McLean & Company Engagement Survey, 2018-2021; N=117,307).
However, engagement surveys mask the volatility of the employee experience and hide the reason why individual employees leave.
This analysis of McLean & Company's engagement survey results shows that while an organization's average employee net promoter score (eNPS) stays relatively static, at an individual level there is a huge amount of volatility.
This demonstrates the need for an approach that is more capable of responding to or identifying employees' in-the-moment needs, which an annual engagement survey doesn't support.
Retention needs to be monitored throughout the employee lifecycle. To address the variety of issues that can appear, consider three main paths to turnover:
Engagement drivers are strong predictors of turnover.
Employees who are highly engaged are 3.6x more likely to believe they will be with the organization 12 months from now than disengaged employees (McLean & Company Engagement Survey, 2018-2021; N=117,307).
Turnover triggers are events that act as shocks or catalysts that quickly lead to an employee's departure.
Turnover triggers are a cause for voluntary turnover more often than accumulated issues (Lee et al.).
Employee experience is the employee's perception of the accumulation of moments that matter within their employee lifecycle.
Retention rates increase from 21% to 44% when employees have positive experiences in the following categories: belonging, purpose, achievement, happiness, and vigor at work. (Workhuman, 2020).
Research shows managers do not appear as one of the common reasons for employee turnover.
Top five most common reasons employees leave an organization (McLean & Company, Exit Survey, 2018-2021; N=107 to 141 companies,14,870 to 19,431 responses).
Turnover factors | Rank |
---|---|
Opportunities for career advancement | 1 |
Satisfaction with my role and responsibilities | 2 |
Base pay | 3 |
Opportunities for career-related skill development | 4 |
The degree to which my skills were used in my job | 5 |
However, managers can still have a huge impact on the turnover of their team through each of the three main paths to turnover:
Employees who believe their managers care about them as a person are 3.3x more likely to be engaged than those who do not (McLean & Company, 2021; N=105,186).
Managers who are involved with and aware of their staff can serve as an early warning system for triggers that lead to turnover too quickly to detect with data.
Managers have a direct connection with each individual and can tailor the employee experience to meet the needs of the individuals who report to them.
Gallup has found that 52% of exiting employees say their manager could have done something to prevent them from leaving (Gallup, 2019). Do not discount the power of managers in anticipating and preventing regrettable turnover.
HR traditionally seeks to examine engagement levels when faced with retention challenges, but engagement is only a part of the full picture. You must also talk to employees to understand the moments that matter and engage managers to understand turnover triggers.
After completing this step you will have:
Employee engagement | Employee engagement and moments that matter are easily tracked by data. Validating employee feedback data by speaking and empathizing with employees helps to uncover moments that matter. This step focuses on analyzing existing data and validating it through focus groups. |
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Engagement drivers such as compensation or working environment are strong predictors of turnover. | |
Moments that matter | |
Employee experience (EX) is the employee's perception of the accumulation of moments that matter with the organization. | |
Turnover triggers | |
Turnover triggers are events that act as shocks or catalysts that quickly lead to an employee's departure. | |
Turnover triggers | This step will not touch on turnover triggers. Instead, they will be discussed in step 2 in the context of the role of the manager in improving retention. |
Turnover triggers are events that act as shocks or catalysts that quickly lead to an employee's departure. |
IT managers often have insights into where and why retention is an issue through their day-to-day work. Gathering detailed quantitative and qualitative data provides credibility to these insights and is key to building a business case for action. Keep an open mind and allow the data to inform your gut feeling, not the other way around.
Start to gather and examine additional data to accurately identify the reason(s) for high turnover. Begin to uncover the story behind why these employees join, stay, and leave your organization through themes and trends that emerge.
Look for these icons throughout step 2. | Why do candidates join your organization? | |
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Why do employees stay with your organization? | ||
Why do employees leave your organization? |
For more information on analysis, visualization, and storytelling with data, see Info-Tech's Start Making Data-Driven People Decisions blueprint.
Classify where key employee needs fall within the employee lifecycle diagram in tab 2 of the Retention Plan Workbook. This will be used in step 2 to pinpoint and prioritize solutions.
The employee lifecycle is a valuable way to analyze and organize engagement pain points, moments that matter, and turnover triggers. It ensures that you consider the entirety of an employee's tenure and the different factors that lead to turnover.
While conducting a high-level analysis of new hire data, look for these three key themes impacting retention:
Issues or pain points that occurred during the hiring process.
Reasons why employees joined your organization.
The experience of their first 90 days. This can include their satisfaction with the onboarding process and their overall experience with the organization.
Themes will help to identify areas of strength and weakness organization-wide and within key segments. Document in tab 3 of the Retention Plan Workbook.
Employees who are engaged are 3.6x more likely to believe they will be with the organization 12 months from now (McLean & Company Engagement Survey, 2018-2021; N=117,307). Given the strength of this relationship, it is essential to identify areas of strength to maintain and leverage.
If you use Info-Tech's Engagement Survey, look in detail at what are classified as "Retention Drivers": total compensation, working environment, and work-life balance.
If you use a product other than Info-Tech's Engagement Survey, your results will look different. The key is to look at areas of weakness that emerge from the data.
If you use Info-Tech's Engagement Survey, look in detail at what are classified as "Retention Drivers": total compensation, working environment, and work-life balance.
Conduct a high-level analysis of the data from your employee exit diagnostic. While analyzing this data, consider the following:
If your organization conducts exit interviews, analyze the results alongside or in lieu of exit survey data.
Determine if new hire expectations weren't met, prompting employees to leave your organization, to help identify where in the employee lifecycle issues driving turnover may be occurring.
A result where employees are leaving for the same reason they're joining the organization could signal a disconnect between your organization's employee value proposition and the lived experience.
Your employee value proposition (EVP), formal or informal, communicates the value your organization can offer to prospective employees.
If your EVP is mismatched with the lived experience of your employees, new hires will be in for a surprise when they start their new job and find out it isn't what they were expecting.
Forty-six percent of respondents who left a job within 90 days of starting cited a mismatch of expectations about their role ("Job Seeker Nation Study 2020," Jobvite, 2020).
Through focus groups, explore the themes you have uncovered with employees to discover employee needs that are not being met. Addressing these employee needs will be a key aspect of your retention plan.
Identify employee groups who will participate in focus groups:
Customize Info-Tech's Standard Focus Group Guide based on the themes you have identified in tab 3 of the Retention Plan Workbook.
The goal of the focus group is to learn from employees and use this information to design or modify a process, system, or other solution that impacts retention.
Focus questions on the employees' personal experience from their perspective.
Key things to remember:
Maintaining an open dialogue with employees will help flesh out the context behind the data you've gathered and allow you to keep in mind that retention is about people first and foremost.
Look for discrepancies between what employees are saying and doing. | 1. Say "What words or quotes did the employee use?" | 3.Think "What might the employee be thinking?" | Record feelings and thoughts discussed, body language observed, tone of voice, and words used. Look for areas of negative emotion to determine the moments that matter that drive retention. |
2. Do "What actions or behavior did the employee demonstrate?" | 4. Feel "What might the employee be feeling?" | ||
Record them in tab 3 of the Retention Plan Workbook. | 5. Identify Needs | "Needs are verbs (activities or desires), not nouns (solutions)" | Synthesize focus group findings using Info-Tech's Empathy Map Template. |
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6. Identify Insights | "Ask yourself, why?" |
(Based on Stanford d.school Empathy Map Method)
Take employee needs revealed by your data and focus groups and prioritize three to five needs.
Select a limited number of employee needs to develop solutions to ensure that the scope of the project is feasible and that the resources dedicated to this project are not stretched too thin. The remaining needs should not be ignored – act on them later.
Share the needs you identify with stakeholders so they can support prioritization and so you can confirm their buy-in and approval where necessary.
Ask yourself the following questions to determine your priority employee needs:
After completing this step, you will have:
First, select and prioritize solutions to address employee needs identified in the previous step. These solutions will address reasons for turnover that influence employee engagement and moments that matter.
Next, create a plan to launch stay interviews to increase managers' accountability in improving retention. Managers will be critical to solving issues stemming from turnover triggers.
Finally, create an action plan and present to senior leadership for approval.
Look for these icons in the top right of slides in this step.
Based on the priority needs you have identified, use the Retention Solutions Catalog to review best-practice solutions for pain points associated with each stage of the lifecycle.
Use this tool as a starting point, adding to it and iterating based on your own experience and organizational culture and goals.
Use Info-Tech's Retention Solutions Catalog to start the brainstorming process and produce a shortlist of potential solutions that will be prioritized on the next slide.
Unless you have the good fortune of having only a few pain points, no single initiative will completely solve your retention issues. Combine one or two of these broad solutions with people-leader initiatives to ensure employee needs are addressed on an individual and an aggregate level.
Target efforts accordingly
Quick wins are high-impact, low-effort initiatives that will build traction and credibility within the organization.
Long-term initiatives require more time and need to be planned for accordingly but will still deliver a large impact. Review the planning horizon to determine how early these need to begin.
Re-evaluate low-impact and low-effort initiatives and identify ones that either support other higher impact initiatives or have the highest impact to gain traction and credibility. Look for low-hanging fruit.
Deprioritize initiatives that will take a high degree of effort to deliver lower-value results.
When assessing the impact of potential solutions, consider:
It's better to master a few initiatives than under-deliver on many. Start with a few solutions that will have a measurable impact to build the case for further action in the future.
Low Impact | Medium Impact | Large Impact | |
---|---|---|---|
Large Effort | |||
Medium Effort | |||
Low Effort |
Use tab 3 of the Retention Plan Workbook to prioritize your shortlist of solutions.
Leaders at all levels have a huge impact on employees.
Support leaders in recommitting to their role as people managers through Learning & Development initiatives with particular emphasis on coaching and building trust.
For coaching training, see Info-Tech's Build a Better Manager: Team Essentials – Feedback and Coaching training deck.
For more information on supporting managers to become better people leaders, see Info-Tech's Build a Better Manager: Manage Your People blueprint.
"HR can't fix turnover. But leaders on the front line can."
– Richard P. Finnegan, CEO, C-Suite Analytics
Managers often have the most visibility into their employees' personal and work lives and have a key opportunity to anticipate and address turnover triggers.
Stay interviews are an effective way of uncovering potential retention issues and allowing managers to act as an early warning system for turnover triggers.
Sources: Richard P. Finnegan, CEO, C-Suite Analytics; SHRM
For each initiative identified, map out timelines and actions that need to be taken.
Be clear about manager accountabilities for initiatives they will own, such as stay interviews. Plan to communicate the goals and timelines managers will be asked to meet, such as when they must conduct interviews or their responsibility to follow up on action items that come from interviews.
Insight 1 | Insight 2 | Insight 3 |
---|---|---|
Retention and turnover are two sides of the same coin. You can't fix retention without first understanding turnover. | Engagement surveys mask the volatility of the employee experience and hide the reason why individual employees leave. You must also talk to employees to understand the moments that matter and engage managers to understand turnover triggers. | Improving retention isn't just about lowering turnover, it's about discovering what healthy retention looks like for your organization. |
Insight 4 | Insight 5 | Insight 6 |
HR professionals often have insights into where and why retention is an issue. Gathering detailed employee feedback data through surveys and focus groups provides credibility to these insights and is key to building a case for action. Keep an open mind and allow the data to inform your gut feeling, not the other way around. | Successful retention plans must be owned by both IT leaders and HR. | IT leaders often have the most visibility into their employees' personal and work lives and have a key opportunity to anticipate and address turnover triggers. Stay interviews help managers anticipate potential retention issues on their teams. |
Contact your account representative for more information.
workshops@infotech.com 1-888-670-8889
Info-Tech Analysts | Pre-work | Post-work |
---|---|---|
Client Data Gathering and Planning | Implementation Supported Through Analyst Calls | |
1.1 Discuss participants, logistics, overview of workshop activities 1.2 Provide support to client for below activities through calls. | 2.1 Schedule follow-up calls to work through implementation of retention solutions based on identified needs. | |
Client | 1.Gather results of engagement survey, new hire survey, exit survey, and any exit and stay interview feedback. 2.Gather and analyze turnover data. 3.Identify key employee segment(s) and identify and organize participants for focus groups. 4.Complete cost of turnover analysis. 5.Review turnover data and prioritize list of employee segments. | 1.Obtain senior leader approval to proceed with retention plan. 2.Finalize and implement retention solutions. 3.Prepare managers to conduct stay interviews. 4.Communicate next steps to stakeholders. |
Contact your account representative for more information.
workshops@infotech.com 1-888-670-8889
Activities | Day 1 | Day 2 | Day 3 | Day 4 |
---|---|---|---|---|
Assess Current State | Conduct Focus Groups | Identify Needs and Retention Initiatives | Prepare to Communicate and Launch | |
1.1 Review data to determine why employees join, stay, and leave. 1.2 Identify common themes. 1.3 Prepare for focus groups. | 2.1 Conduct four 1-hour focus groups with the employee segment(s) identified in the pre-workshop activities.. 2.2 Info-Tech facilitators independently analyze results of focus groups and group results by theme. | 3.1 Create an empathy map to identify needs 3.2 Shortlist retention initiatives | 4.1 Select retention initiatives 4.2 Determine goals and metrics 4.3 Plan stakeholder communication4.4 Build a high-level action plan | |
Deliverables | 1.List of common themes/pain points recorded in the Retention Plan Workbook 2.Plan for focus groups documented in the Focus Group Guide | 1.Focus group feedback 2.Focus group feedback analyzed and organized by themes | 1.Employee needs and shortlist of initiatives to address them | 1.Finalized list of retention initiatives |
“Our team has already made this critical project a priority, and we have the time and capability, but some guidance along the way would be helpful.”
“Our team knows that we need to fix a process, but we need assistance to determine where to focus. Some check-ins along the way would help keep us on track.”
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Jeff Bonnell
VP HR
Info-Tech Research Group
Phillip Kotanidis
CHRO
Michael Garron Hospital
Michael McGuire
Director, Organizational Development
William Osler Health System
Dr. Iris Ware
Chief Learning Officer
City of Detroit
Richard P. Finnegan
CEO
C-Suite Analytics
Dr. Thomas Lee
Professor of Management
University of Washington
Jane Moughon
Specialist in increasing profits, reducing turnover, and maximizing human potential in manufacturing companies
Lisa Kaste
Former HR Director
Citco
Piyush Mathur
Head of Workforce Analytics
Johnson & Johnson
Gregory P. Smith
CEO
Chart Your Course
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"2020 Job Seeker Nation Study." Jobvite, April 2020. Web.
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Vuleta, Branka. "30 Troubling Employee Retention Statistics." Legaljobs. 1 Feb. 2021. Web.
"What is a Tenured Employee? Top Benefits of Tenure and How to Stay Engaged as One." Indeed. 22 Feb. 2021. Accessed 22 Jun. 2021.