Articles tagged 'retention'

Rewards & Recognition

What’s a Lapel Pin? A Recognition Award That Millennials Just Don’t Get

123RF Stock Photo

I had coffee with a group of friends last Sunday morning. One friend is a 25-year-old who works at one of the well-known Silicon Valley high tech companies.

We were all talking about our lives — kids, jobs, dogs — and I brought up the fact that I had been in Las Vegas recently for business.

I told them that a colleague and I had been there working with a company on their Service Awards program. Prior to our meeting, we walked through the facility asking workers how they felt about the company’s service anniversary awards program and what rewards they had received recently. Read more…

Recruiting and Staffing, Talent Management

3 Things to Help Hold on to Recent College Graduates

123RF Stock Photo

In many ways, recent college graduates are the perfect candidates to hire. They’re young, fresh, and willing to learn.

However, they also come with a problem: Most recent grads don’t stay with an organization very long.

A new study by America Employed found that 77 percent of franchises surveyed said they expected new graduates to leave within a year. This can be frustrating to hiring managers, who have to continuously find new talent, as well as being costly for the organization (they’re constantly having to onboard and train, and high turnover hurts productivity). Read more…

Talent Management

Hiring Wisdom: Why You Need to Be Doing Retention Interviews

From istockphoto.com

A retention interview is not a performance appraisal; it is not about how the person is doing his or her job. It is not a job satisfaction or employee engagement survey.

A retention interview is about what the company is doing (or not doing) that frustrates their top performers.

If you’d like to create your own retention interview, here are a few pointers to keep in mind: Read more…

HR Insights, HR Management

Five Critical Priorities HR Can’t Afford to Ignore in 2015

123RF Stock Photo

How employees get their work done has changed remarkably quickly; unsurprisingly HR needs to change, too

Anyone who works in a global company doesn’t need to be told that their job has changed enormously in the past few years.

Even if their job title – and sometimes their job description – remains unscathed, the number of people they work with, the amount of information they use to make decisions, their day-to-day tasks, and the technology they use have all changed quicker than at any time in their careers. Read more…

Talent Management

CEOs Focus on Talent Shortages, But the Key is Engagement & Retention

talent management

In the last couple of years, leaders have been compelled to look to a new asset group — their workforce — to provide the company with the same productivity and financial gains they’ve experienced from leveraging hard assets and operational systems.

It seems obvious that people are at the heart of every aspect of running a business, and are therefore in the best position to positively impact outcomes, but that perspective has only recently begun to make its way into leadership training or business publications.

CEOs tell me managing talent is at the top of their agenda and research bears this out. According to PwC’s annual global CEO Survey, 83 percent of the CEOs surveyed from 69 countries plan to change their firm’s talent management strategy and for 31 percent those changes will be major. Read more…

Compensation, Rewards & Recognition

Retention and Reward: Struggling With the Consequences

Illustration by Dreamstime

Employee retention is a double-edged sword.

According to Merriam Webster, in addition to being a sword with two sharp edges, this is defined as something that can have both favorable and unfavorable consequences.

That’s about right. Read more…

HR Management, Talent Management

5 More Ways to Tell If an Employee Is Looking to Leave

123RF Stock Photo

Second of two parts

As I noted yesterday (in 5 Ways to Identify an Employee Who Is Ready to Quit), employee turnover is always an important issue, but most managers are unaware of the fact that overall, turnover rates went up 45 percent last year.

I’m predicting that they will go up at least 50 percent this year, so individual managers should be aware of the precursors or warning signs that can indicate that an employee is considering looking for a job so they can act before it’s too late.

If you approach the problem systematically, you can successfully identify which individual employees are likely to quit with an accuracy rate of over 80 percent.

Yesterday, I listed the Top 5 ways to tell if an employee may be getting ready to leave. Here are five more: Read more…

HR Management, Talent Management

5 Ways to Identify an Employee Who Is Ready to Quit

Employee-Retention

First of two parts

There are few things that are more shocking to a manager then to have one of their top-performing employees suddenly quit on them.

Some managers have described it as the equivalent to a “kick in the gut.” It is a shock not only because losing a key employee will damage your business results, but also because managers hate surprises, and as a result, they frequently wonder how they missed the signals that this person was going to leave.

Employee turnover is always an important issue, but most managers are unaware of the fact that overall, turnover rates went up 45 percent last year. Read more…

Talent Management

The Path to Success: 8 Little Secrets to Getting Promoted

Job promotion

It’s never too early to carve out your path to success.

Start to think, act, and communicate like a leader to get the promotion you ultimately want. Even if you’re still several levels away from your dream promotion, there are numerous ways you can get on the path of your dreams, claims Amy Gallo.

In her Harvard Business Review article, she provides tips for doing just that. Read more…

Recruiting and Staffing

Hiring Wisdom: Make Sure You Don’t Let the Great Ones Get Away

From istockphoto.com

Unemployment is coming down and, even if it weren’t, great employees always have their choice of employers.

Case in point: I got some great service at a restaurant in the Indianapolis airport the other day. Molly was over the top.

I took a moment to ask her if she liked working at the airport. She told me she had moved to town three weeks earlier and had started the job just a week ago. Read more…