| Date post: | 15-Aug-2015 |
| Category: |
Documents |
| Upload: | roy-barker |
| View: | 14 times |
| Download: | 2 times |
Employee Retention
Strategies Part 2:Steps 6-10
Brought to you by:
Moore Diversified Services
Presented by:
Roy Barker
Presentation Date and Time:
April 30, 2015
1:00pm – 1:30pm CST
Contact Information:
Roy Barker
(817) 925-8374
Thanks For Joining Us Slightly Different Format
30 Minutes If no time for questions you may email me directly at roybarker@m-d-
s.com Please take a moment to complete the two-question survey at end of
presentation
Today’s Outline Who is Moore Diversified Services Who is Roy Barker Why Employee Retention is Important Short Recap of Steps 1-5 Critical Steps 6-10
Professional Selling: Back to Basics – May 21, 2015 1:00pm – 1:30pm CDTMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Moore Diversified Services National Full Service Boutique Consulting Firm Specializing In Senior Living and Healthcare both For Profit and Not-For-Profit 40+ Years of Experience Services Offered:
SWOT Analysis and Strategic Planning Operational Analysis/Benchmarking Marketing Analysis, Mystery Shopping, and Tactical Planning Employee Turnover Analysis and Retention Strategies Investment/Financing Advisory Services Lender Due Diligence Market/Financial Feasible Studies and Proformas Key Metric Monitoring “Shared Executive” Retainer Agreements MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM
ROY BARKER [email protected]
Roy Barker, Director-Special Projects Over 15 years in the industry with MDS Education
BBA – Finance MS Gerontology – Long Term Care, Housing, and Services for the Aging Pursuing MS – Marketing and MS – Industrial and Organizational
Psychology Service
Dallas Area Agency on Aging Advisory Board Former Volunteer Long Term Care Ombudsman State of Texas Member Senior Living Round Table – Dallas and Boston
Specialties Operations Marketing Employee Retention Training/Coaching
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Why Worry About Employee Retention?
Every time you lose an employee, your business incurs the costs of advertising for finding
and training new employees.
Employee turnover also has intangible costs, including an impact on employee morale and
the inefficiencies inherent during the “break-in” period as the new employee adjusts to your
way of doing things.
Preventing employee turnover saves you money and helps you operate more efficiently.
The task of keeping an employee for the long haul begins on the employee’s first day of
work.
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Facts About Employee Turnover Lower engaged employees 4 times more likely to leave
Wages/Salary typically don’t make the top 5 reasons
80% of employees are “pushed out”, i.e. management
Only 20% are “pulled out”, lured with better job/wages
Employee Retention is clearly in managements’ hands
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Cost of Employee Turnover
Average Turnover Costs Entry Level Employee, $7,500 Management Employee, 100%-125% of salary Executive Employee, 200% + of salary Technical Employee, 400% of salary
Turnover Rates Assisted Living, 45% A lot of Communities operate at 100% and some 300% - 500%
Risk ManagementMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Recap Steps 1-5 Initial Screening – Don’t skip the in-depth diligence
Orientation – Go the extra step to get off to a great start
Job Specific Training – Every company/function can be different
Providing a Mentor – Select for attitude and job performance
On-Going Training – Invest in your employees like……MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Employee Retention Steps 6-10
• Create Opportunities for Advancement
• Challenge Employees
• Praise Employees
• Develop an Awesome Company Culture
• Really Get to Know Your EmployeesMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Create Opportunities For Advancement
An investment in your employees and your company, encourage promotion from within
Provide career counseling, self assessment and career management tools
Provide access to behavioral assessment tools such as Myers-Briggs and DISC
Provide employee training for future assignments as well as current job duties
Provide executives and managers training on developing relationships and coaching
Encourage pursuit of formalized education and tuition plans
Define career paths and requirements, don’t have artificial internal barriersMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Challenge Employees Set the stage by providing all employees the bigger picture
Give temporary managerial responsibility to appropriate employees
Cross train identified employees in other departments besides their own
Give one-off projects of substance to suitable employees in development
Align daily routine with strategy initiatives
Solicit ideas from employees, include on committees
Appreciate efforts, allow room for risk, learning, success, failure, and growth MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Praise Employees Be proactive, look for the good, not just the bad
Be clear and specific about event when delivering praise, not generic
Deliver sooner rather than later, time will dilute praise
Sincerity is a must, employees will see right through a con-job
Small rewards mean just as much, if not more
Make the praise public, in front of peers, when possible
Refrain on the constructive but………MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Develop an Awesome Company Culture
Clarify, communicate, and live your company mission, vision, and values
Stay focused on customer satisfaction and service
Be generous with praise, rewards, and compensation….make it fun
Take on community projects dear to employees’ hearts
Cultivate the feeling of family with customers and employees
Make sure integrity is at the top of the company want list
MANAGEMENT HAS TO LIVE THIS EVERYDAY!!!!MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
REALLY Get to Know Your Employees
Go beyond name, rank, and serial number
Find out what's important to each employee personally
Hold “stay interviews” to gather workplace intelligence
Host gatherings off premise and outside of work hours
Be:VisibleEngagedApproachableGenuineMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM
ROY BARKER [email protected]
10 Critical Steps To Increase Employee Retention
1. Initial Screening
2. Orientation
3. Job Specific Training
4. Provide a Mentor
5. On-Going Training
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
6. Create Opportunities for Advancement
7. Challenge Employees
8. Praise Employees
9. Develop an Awesome Company Culture
10. Really Get to Know Your Employees
Increasing Employee Retention
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Make your company an employer of choice,
not an employer of last resort!
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
Join me for our next webinar
“Professional Selling: Back to Basics”
May 21, 2015, 1:00pm–1:30pm CST
Questions or Comments?If you have questions or comments
Please feel free to email or call Roy Barker at:
(817) 925-8374
Also, please complete the two-question survey following presentation. Thank you!
MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]
![Employee Retention-[].docx](https://static.documents.pub/doc/80x56/563dba50550346aa9aa48ae6/employee-retention-wwwstudents3kcomdocx.jpg)
