How to Retain Your Employees and What to Do If You Lose Your Star Player

transcript

Click to edit Master title styleClick to edit Master title style

How to Retain Your

Employees and What to Do

if You Lose Your Star Player

Presented by:

Webinar Tips for Attendees

You can connect to audio using your

computer’s microphone and speakers.

Or, you may select “Use Telephone”

after joining the Webinar.

All lines will be muted to avoid

background noise.

You can ask questions at any time by

typing them into the Questions Pane.

The Speakers

Alison HaddenDirector of Brand Strategy,

Glassdoor

Paul McDonald Senior Executive Director,

Robert Half

By the way,

I’m leaving.

What We’ll Cover

Why good employees quit

5 signs an employee is considering leaving

Creating a “disaster plan”

Winning strategies for engaging and

retaining employees

Why Good Employees Quit

*Source: Bureau of Labor Statistics

**Source: Glassdoor

Employees are feeling more

confident in the job market than

they have in nearly 6 years

U.S. unemployment rate was

5.6% in December – the lowest

level since June 2008

Nearly 3M jobs were created in

“Quit rate” has stayed near a

post-recession high of 1.8% for

7 consecutive months

JOB SEEKERS

ARE CONFIDENT**

THE JOB MARKET

IS GOOD*

Survey Says …

Source: Robert Half

Bored with their job

Lack of recognition

Overworked

Unhappiness with management

Limited opportunities for advancement

Inadequate salary and benefits

CFOs Employees

CFOs and Workers Agree:

Employees Most Likely to Quit Over Salary

5 Signs an Employee Is Considering Leaving

Disengagement and behavioral changes

Sudden interest in career development

Asking for information about previous projects

Decreased interaction with managers

A new, more formal wardrobe

1 Disengagement and behavioral changes

More errors and missed deadlines

Disengagement in meetings

Change in level of socialization with colleagues

Lower productivity

Was the person previously unconcerned

with advancement?

Is the person expressing frustration over a lack

of development opportunities?

Sudden interest in career development

Is there a sudden interest in company statistics

or past successes?

A sign the employee is doing a resume update or

preparing for a review, or is it a sign of an active

job search?

Asking for information about previous projects

Has the worker stopped checking in with

you regularly?

Do you feel your employee is purposely

avoiding you?

Decreased interaction with managers

Dressing up can be a sign your employee has

a job interview

A new, more formal wardrobe

The Disaster Plan

YOUR STAR EMPLOYEE JUST QUIT.

WHAT DO YOU DO NOW?

Stay calm

Conduct an exit interview

Use temporary help to

fill the gap

Communicate with staff

Use your talent pipeline

Address the

workplace issues

Develop succession plans

Don’t overreact

The dangers of extending a

counteroffer

Remember, not all exits are bad

CONDUCT

AN EXIT

INTERVIEW

Really listen to the answers

Someone other than the employee’s direct

manager should conduct the interview

Questions to ask Why are you leaving?

What did you enjoy most about the job?

What would have convinced you to stay?

Would you consider working for the company again?

How did you find your new job?

Don’t wait until the last day to conduct

an exit interview

Use a contract or temporary professional

in the short term

Fills the immediate need

Gives you time to conduct a thorough search

for a new hire

Temporary worker could eventually be

converted to full time

CANDID

Don’t keep your remaining staff in the dark

Keep the team updated on plans for finding a

replacement and moving forward

Should you share the person’s reasons

for leaving?

USE YOUR

TALENT

PIPELINE

Expect that someone is going to leave,

and be prepared for it

Source: CareerBuilder

Half of HR managers said they have open

positions for which they can’t find qualified

candidates

46% said hard-to-fill positions remain open for

more than a quarter of the year

If you don’t have a pipeline, an

experienced recruiter will

ADDRESS

WORKPLACE

ISSUES

Follow up on information from

the exit interview

Have recent exit interviews revealed

any trends?

What can you change to keep your

employees engaged and invested?

DEVELOP

SUCCESSION

Have replacements in mind for key players on

your team and start training them

Develop junior employees’ skills so they’re ready to

be promoted when you have a surprise opening

The departure of a star player can be an

opportunity for another

Strategies for Retaining Employees

Winning employee engagement

tactics to retain talent:

Offer competitive salaries

Know what matters most

Track employee sentiment

Communicate clearly

Focus on career development

Recognize great work

Offer Competitive Salaries

Know what your people

are worth

Remember, insufficient pay

is the top reason good

employees leave

What are competitors

paying? Are your keeping

– Glassdoor:

glassdoor.com/salaries

– Robert Half Salary Guides:

roberthalf.com/salary-guides

What Matters Most

[Glassdoor member survey

results]

Track Employee Sentiment

Keep tabs on how your

employees are feeling to

understand what matters

Where can your firm

improve?

Engage Your Employees

Encourage organizational

transparency

Communicate openly and

honestly

Encourage employees to

post reviews of the company

on Glassdoor

Focus on Career Development

Provide defined career

paths and promote from

within

Offer assignments and

projects that enable

employees to put their skills

to use

Provide training and

education opportunities

– Conferences

– Online learning

– Lunch-and-learns

– Mentoring programs

Recognize Great Work

Regularly check in

with employees

– Don’t wait until it’s time for

annual reviews

Acknowledge a job well

done, at both the individual

and team level

In-person thanks can

be powerful

Questions?