The Manager’s Role in Employee Retention

The Manager’s Role in Employee Retention Tuning In To Employee Expectations

Teleclass Agenda # 2 • Setting the Stage • The Case for Employee Retention • Myths About Keeping Great Employees • Manager’s Role is Paramount • The 12 Gallup Workplace Statements • Managing Work Expectations -Transforming Attitudes Self-Assessment

If employees would: work hard be loyal give their all Employer would give: a job for life a home away from home regular salary increases good chance for promotion “Old Contract” # 3

Manager’s Role in Employee Retention # 4 • 1980-90’s Downsizing Environment • Career Development was “trashed” • 2000’s Job Seeker’s Paradise • Career Development is “hot” • Economic Growth • Unemployment less than 6%

Manager’s Role in Employee Retention # 5 • Changing Demographics • Shrinking of 25-34 year old labor pool • 82% of senior executives in Federal government eligible for retirement • Downsizing had negative impact on employee loyalty

Manager’s Role in Employee Retention # 6 • 2000’s organizational challenge • Aggressive business environment • Sustaining competitive advantage • How does organization distinguish itself in competitive market? • Way to differentiate from fierce competitors • More dependent on top performers • Reliant on human assets to survive

Manager’s Role in Employee Retention # 7 • Retention • keeping desirable employees • Attrition • loss of personnel • Career Planning • bottom-up view of right people in right place • Succession Planning • top-down view of right people in right place

A Case for Employee Retention # 8 • Most managers think about retention when its too late--after the resignation • Long-term organizational strategy will not be accomplished if attrition is common • Has a domino effect both within and outside of organization

A Case for Employee Retention cont’d # 9 • Factors within control of managers are most frequent reasons for departure • People don’t quite companies- they quit managers • Compensation a “distant” factor • Best retention intervention is not a single point resolution

Critical Findings # 10  Loss of productivity • by departing employee (ROAD program) • learning curve for replacement • office incidentals • multiply costs by number of employees who leave in one year

Critical Findings # 11  Data from exit interviews typically fails to surface REAL cause of attrition problems. • Possible retribution • Embarrassed of real reason • Chance of mis-diagnosing critical factors

Critical Findings # 12  Average manager fails to take personal responsibility for employee’s departure. • Ignore factors within their control • Typically point to external factors • Managers need awareness training • Managers need tools to meet personal accountability to retain

Critical Findings #13  Only time manager thinks about retention is when employee departs. • Managers attempt to talk departing employees out of leaving (“big mistake”) • Tie retention to critical organizational activities--integral to success • Treat career planning as an on-going priority • Be proactive

Critical Findings #14  Departure of valued employees can have a ripple effect on internal customers • Transition to new employee must be well managed • Regular changes indicate organizational instability

Critical Findings #15  Certain degree of attrition is positive • Monitor retention and attrition rates • Note unusual organizational factors • Must employee correct strategies • workplace learning is now a strategy

Critical Findings #16  Must have a career development system • Important that employee expectations are uncovered and discussed • Must involve all levels in retention

Reference Material # 17 • Managing Work Expectations - Transforming Attitudes • Inscape Publishing • First, Break All the Rules by Buckingham & Coffman • Simon & Schuster

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The Manager’s Role in Employee Retention