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. There are also costs associated with disengagement and a lack of commitment that affects 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
Coaching and Mentoring
Introducing and Using the MBTI
Moving Up: Developing Leaders for Multiple Levels within Your Organization
Behavioral Interviewing to Find the Best Fit
Mastering the Art of Providing Feedback
Time Management Basics
Best Practices in Business Etiquette
Avoiding Sexual Harassment