Organizational Overview

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Welcome To
Retaining Winning Talent
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Expected Outcomes

• Retaining Winning Talent will
• Increase the likelihood that you will retain your
  top performers
• Improve your ability to generate discretionary
  effort from your employees
• Increase your ability to exceed your teams
  business objectives

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Workshop Overview
Why Worry About Retention?
Whos at Risk?
Identifying Retention Strategies Tactics
Surfacing Employee Retention Needs
Creating a Retention Plan For Your Team
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Why Worry About Retention?

• An Exercise
• Take a card (either a Question or Answer)
• Find a participant with the appropriate match to
  your card
• Introduce yourself to your partner
• Name
• Current Job/Responsibilities
• of Direct Reports
• Length of tenure with company
• Be prepared to introduce yourself to the group
• With your partner read the Q A out loud to the
  group

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Converging Turnover Drivers
Turnover
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Cost of Attrition

• Implications of Attrition are
• Lost Productivity of Departing Employee
• Lost Productivity Due to Vacancy
• Lost Productivity of New Employee
• Lost Productivity of Co-workers Manager
• Employee Processing Costs

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A Familiar Tale
Employee Retention
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• Reasons To Stay or Leave Your Organization

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Whos At Risk?

• Criteria for Selecting Key Direct Reports
• Is critical to your goal achievement
• Would be very difficult to replace if they quit
• Typically does more work than others
• This persons work is typically of higher quality
  than others on the team

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Selective Retention

• Top to Bottom
• Top Performers
• Fully Competent
• Functionally Adequate
• Wrong Job

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Retention Continuum
Defection
Retention
Early Warning Signals
Commitment
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Attrition Triggers

• Macro Triggers
• Downsizing/Reorganization
• Reduction in Stock Price
• Merger/Acquisition
• Industry Up/Down Turn
• Location Change
• Sr. Management Change
• Company-wide Pay or Benefits Reduction

• Micro Triggers
• End of Project
• Project Cancellation
• Respected Manager or Employee Leaves
• Bonus or Options Exercise Date
• Passed Over for Promotion

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The Ripple Effect
YOU
Co-Workers
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The Ripple Effect
YOU
Co-Workers
Other Departments
The Company
The Customer
Market Perception (EPS)
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Job Factors Activity

• Part 1. Individual
• Read aloud each Job Factor Card.
• Complete a dual rating for yourself for each
  factor.
• Determine how each factor affects your daily
  motivation, your desire to go to work and do your
  best
• Not how you think others would rate the factor
• Not how it would influence your decision to take
  a new job
• Do NOT discuss as a group
• Pay attention to the phrase, over a short period
  of time

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Job Factors Activity
Example Benefits
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Job Factors Activity

• Part 2. Team
• At your table, discuss each factor. Each person
  should state his.her overall rating for each
  factor either a Motivator or a De-motivator.
• As a group, come to consensus for each factor
• In general, does the group see this factor
  as more of a Motivator or De-motivator?
• Post the Job Factor cards on the flipchart in the
  appropriate column. (Make sure the Job Factor
  titles on each card are showing).

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Job Factors Activity

• Part 3. Team
• For all job factors, decide if factor is
• More Controlled by the Manager, or
• More Controlled by the Company
• Mark an M for the Manager or C for the
  Company on each card posted on the flipchart.

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STARS Model Data Sources

• Data collected from
• 12,000 managers
• 43,000 direct reports

• Managers from organizations in many industries
• High Technology
• Telecommunications
• Pharmaceuticals
• Biotechnology
• Healthcare

• Wholesale
• Publishing
• Financial Services
• Distribution

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STARS Model

• HIGH STARS scores are associated with
• High employee satisfaction with the company
• High employee satisfaction with their job
• High employee satisfaction with their boss
• Lower levels of employee work-related stress

• LOW STARS scores are associated with
• Low employee satisfaction with the company
• Low employee satisfaction with their job
• Low employee satisfaction with their boss
• Higher levels of employee work-related stress

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STARS Model
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STARS Model
election
S
eam Effectiveness
T
dvancement Development
A
ecognition
R
uccess
S
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Surfacing Employee Retention Needs

• Thank employee and reinforce value of having the
  discussion.
• Ask questions to identify whats most gratifying
  and most frustrating about current projects, work
  assignments, and/or work in general.
• Listen for specifics (especially STARS related
  information), paraphrase, and test for themes
• Ask for and suggest ideas on how you can help and
  support the employee going forward.
• Decide what actions you both will take and set a
  follow-up date.

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Surfacing Employee Retention Needs Practice

• In small groups of three, each lead an employee
  discussion.
• Manager Role Practice asking questions to
  unearth motivation opportunities and issues for
  one STARS area
• Employee Role Prepare to discuss one STARS area
  be yourself
• Observer Role Take notes and lead feedback
  debrief
• Take 10 minutes per round
• 7 min for practice, 3 min for feedback
• Rotate roles and start new round

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Responding To An Early Warning Signal

• Thank the employee for the meeting and explain
  the purpose of the meeting.
• Refer to an early warning signal and probe to
  determine if it represents a deeper concern(s).
• Summarize the response from the employees
  perspective and, if necessary, ask additional
  questions to clarify concerns.
• Ask for and suggest ideas for addressing
  concerns.
• Decide what actions each of you will take to
  address concern(s), and set a follow-up date.
• Thank the employee for being candid, and
  reinforce the mutual value of the business
  relationship.

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Responding To An Early Warning Signal Practice

• In small groups of three, each lead an early
  warning discussion.
• Manager Role Practice asking questions to
  identify what is causing the Early Warning
  Signal agree on the signal that was observed
  before the practice
• Employee Role Be realistic disclose information
  only as you would if you were the actual employee
• Observer Role Take notes and lead feedback
  debrief
• Take 10 minutes per round
• 7 min for practice, 3 min for feedback
• Rotate roles and start new round

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Personal Retention Action Plan Completion

• Strategies and Actions for Teams
• Identify at least 2 actions you will take with
  your entire team
• Include a completion date

• Strategies and Actions for Individuals
• Identify at least 1 action you will take for each
  employee listed
• Include a completion date

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Action Planning Intact Team

• Part One Individual Action Plan Review
• Each team member briefly shares highlights and
  themes from his/her Action Plan

• Part Two Team Priorities Recommendations
• Identify retention issues and themes facing team
• Prioritize top issues and themes
• Identify initial ideas to address top priorities
• Determine next steps and set follow-up dates

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Blue Sky Activity

• What could we do at this organization to
  improve employee engagement retention?
• At your table
• Identify as many Blue Sky ideas as possible for
  the area assigned your group. List on a
  flipchart. (10 minutes)
• Select one high-impact plan and develop it.
  Create an action plan to implement the idea. List
  on a flipchart. (10 minutes)
• Share your action plans and expected
  organizational impact with the large group.

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Action Planning Peer Review

• Briefly share your Action Plan
• Have your partner provide feedback to you on your
  plan
• Schedule a follow-up date 6-8 weeks from today to
  check-in on actual progress with one of your
  partners

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Where To Go From Here

• Implement Personal Retention Action Plan
• Actions to take with individual team members
• Personal actions you will take
• Complete Action Plans for remaining team members
• Review Retention and Development Toolkit for
  ideas
• Follow-up on Blue Sky ideas, as appropriate
• Other ideas

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Welcome To
Retaining Winning Talent