Retention: Keeping the Keepers
Studies have shown that over the last 25 years, the average cost for losing one employee is one times his/her yearly salary (PriceWater-houseCoopers). For example: a company with 400 employees who earned $36,000 per year and had a 15% turnover is looking at a cost of $2,160,000.00 per year. Costs associated with disengagement and a lack of commitment affect the bottom line. How much of an effort or contribution will someone make who’s dissatisfied and leaving the company and how much are they affecting the morale of others?
Imagine what the cost would be if your company were larger and your turnover rate were even higher, as we are seeing in many industries today. This workshop will offer you solutions and best practices that have repeatedly reduced turnover by more than 50%.
This course includes the following topics:
Measuring the Value of Retention
• Determining the cost of disengagement and the loss of good employees
• Using new management tactics to lower turnover percentages
• Taking steps today that will make a difference
• Measuring and assessing your efforts
• Obtaining stakeholders’ input
Targeting Individual Needs
• Providing objective assessments and feedback
• Ensuring targeted development and career planning
• Uncovering the missing ingredient employees need
• Understanding the employee’s perspective
• Realizing generational differences and providing motivation to reach employees of all ages
Establishing Effective HR Policies
• Developing the right plan to reduce turnover, with multiple programs and solutions to reduce
costs
• Finding the truth behind why employees leave
• Creating coaching and mentoring programs to reduce turnover
• Using succession planning strategically
• Understanding how much difference money will make
• Putting in place non-pay best practices for reducing turnover ratios
• Discovering the early signs before it’s too late
Additional Leadership and Interpersonal Skills courses:
Leadership Communication
Developing Leaders for Multiple Levels within Your Organization
Coaching and Mentoring
Behavioral Interviewing to Find the Best Fit
Retention: Keeping the Keepers
Mastering the Art of Providing Feedback
Building and Managing Teams
Introducing and Using the MBTI
Effectively Managing Meetings
Time Management
Best Practices in Business Etiquette
Managing conflict