Articles Archives - Page 7 of 21

Calculating Turnover’s Highest Cost: Lost Productivity

July 10, 2023
Richard Finnegan
Articles

Part of calculating the monetary cost of turnover for your retention efforts includes placing a dollar value on lost productivity, which is more complex, but more important than many of the direct costs we usually think of when we lose employees.

Is Your Turnover Priority for Your Highest-Paid or the Most Frequent?

June 27, 2023
Richard Finnegan
Articles

Turnover Priority: Highest-Pay or Highest Rate Positions?

If we can safely presume high pay equals most essential then there are at least 11 jobs in healthcare that are more important to retain than nurses who traditionally have a high rate of turnover. Yet the higher-paid workers almost never receive a Stay Interview or an assessment of their likelihood to stay.

From SHRM23 Las Vegas: Is It Pay?

June 20, 2023
Richard Finnegan
Articles

When employees seek support regarding any of their daily employee needs, their supervisor is their go-to source. First-line supervisors drive no less than 50% of turnover and 70% of engagement. Research and data support that if the boss is seen as trustworthy, the number of reasons to leave diminish significantly, including leaving for pay.

Change One Performance Meeting to a Stay Interview for Retention

May 30, 2023
Richard Finnegan
Articles

If improving employee engagement and retention is top of your priority list, consider changing just one Employee/Manager meeting to a Stay Interview where employees talk about their needs, not their performance.

The Labor Shortage Wake-Up Chart is Here

May 22, 2023
Richard Finnegan
Articles

It’s likely that in the next few months our national workforce data (open jobs and unemployment) will get closer to “normal”, but the data is painfully clear, that we will not have enough workers to fill our open jobs for a long time. So says the Census Bureau which has released a chilling chart.

Young Workers’ Job Tenure Remains the Same: Short

Learning that the tenure for young workers’ didn’t get even shorter during “The Great Resignation” raised an internal alarm. How could it be that with so many open jobs that those young workers who stray so frequently didn’t stray even more?

The High Cost of Lowering Standards for Retention in the Military, and More

When it comes to the US Marines, US Air Force, and national pharmacy chains, retention is faltering due to lowering standards instead of building trust.

From Stagnation to Success: You Can Improve Employee Engagement

April 24, 2023
Richard Finnegan
Articles

Gallup’s ongoing reporting shows that engagement has stayed the same for years, long before the pandemic, through “The Great Resignation”, and shows no signs of improving in the future. But there is a way you can move engagement from stagnation to success starting right now and I have proof it works.

Preventing Surprise Resignations With Stay Interviews

April 18, 2023
Richard Finnegan
Articles

In a Forbes article, a manager shares the story of losing a top employee unexpectedly. The question arises as to why this happened, but by the time it's asked, it's already too late. This scenario is all too familiar for many managers who have experienced employees leaving without warning.

The Best Data Chart to Cut Your Turnover

April 6, 2023
Richard Finnegan
Articles

The key to cutting turnover is leader accountability and the key to holding individual leaders accountable is to have robust retention data. When individual managers are responsible to input retention data and the reports are used for accountability, it communicates that retention accountability is real and they should forecast carefully, build stay plans to increase retention, and most importantly achieve their retention goals.