The Real Secret to Cutting Turnover Is…
Stay Interviews are the rock for employee retention and provides the fuel for building trust. But Stay Interviews need data-driven components to measure success and see real turnover results.
Job Requirements VS “The Great Resignation”
Never in our history has HR had more opportunity to contribute to productivity. If your CEO is joining others saying attracting and retaining talent is a top challenge for 2022, every potential solution, conventional or not, must be on your list.
NBC News feature: Stay Interviews, Quest Diagnostics, and Dick Finnegan
Last Sunday after the Super Bowl, NBC New York 4 News aired a segment on Quest Diagnostics’ use of Stay Interviews to cut turnover, so far by 42%. We are thrilled to be the conduit for Quest’s success and if you watch the 3-minute video, you will quickly identify my favorite part.
Did Managers’ Engagement Drop in 2021? Gallup Says “Yes”
Manager disengagement is a major problem, a very significant obstacle to productivity. We sometimes use the term “exponential” to exaggerate some issue, some statistic, but in this case that term is a fit, knowing that the less engaged your managers are, the less engaged their teams and individual employees become.
Dilemma: Fire Poor Performers During The Great Resignation?
If you keep low performers will you lose top performers, and ultimately be left with a workforce comprised of these workers and others who just don’t care?
The Tremendous Disconnect Between “The Great Resignation” and Pay
Companies’ most frequent response to “The Great Resignation” is to raise pay. In fact, average increases rose from 2.6% to 3% during 2021 and are scheduled to raise to 4% during 2022. Let’s consult other data though, to better understand why all of this cash is having so little impact on the number of employees who are quitting their jobs.
MIT says “Toxic Culture” driving “The Great Resignation”
MIT researchers shared a new study that presents a different perspective regarding why employees are quitting their jobs in droves, and the number one reason is “toxic corporate culture”. “Toxic corporate culture” is comprised of three distinct categories and the MIT research tells us “toxic corporate culture” is…wait for it…10 times more important than compensation in predicting turnover.
10 Reasons “The Great Resignation” is the New Normal
We are now firmly in the midst of “The Great Resignation”, and the number of monthly quits have consistently exceeded their all-time highs. This gloomy picture would be incomplete, though, without looking beyond today, wondering how long the workforce clouds will stay dark. There are at least 10 reasons that forecast "The Great Resignation" as the new normal.
Annual Review: Did We Cut Turnover During The Great Resignation?
The first week of January our C-Suite Analytics team reviews how much we helped our clients the previous year. We are tough on ourselves; did we miss an idea along the way? But we also identify our successes with specific obstacles and the solutions that did work to overcome them.
Keeping Retention Goals Top of Mind
Each of you knows that nothing happens in organizations without accountability…nothing…yet my guess is fewer than 5% of global companies, large and small, actually hold someone accountable for turnover. This is why we always begin with converting turnover to dollars. It’s the turnover accountability wake-up call.