Retaining essential talent is critical to business success and organizations benefit when they realize that retention is an outcome; not a strategy unto itself. Increasing staff retention includes understanding (1) how attraction and recruiting initiatives lay the foundation for retaining talent (2) the importance of an onboarding experience that promotes engagement and productivity (3) the impact of cultural assimilation, socialization and relationship building, and (4) the manager/leader’s responsibility for providing a high-feedback/high-touch work environment.
6. Robin Schooling, SPHR!
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@RobinSchooling!
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@SilverZebras!
HR strategist | consultant!
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HR blogger!
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HRSchoolhouse.com!
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SilverZebras.com!
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The Top 100 Most Social !
Human Resources Experts On Twitter!
Huffington Post (2013)!
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developing integrated HR & Talent Management strategies for business success!
7. swing baby swing!!
photo credit: Snoop Dogg via InterscopeGeffenAM; Elvis via wikimedia commons !
8. the scoop…!
• why it matters!
• the foundation of talent attraction and acquisition!
• the importance of onboarding!
• cultural assimilation!
• organizational socialization!
• the leader’s role!
11. the numbers!
• US workforce expected to grow 4.4% (2013 through
2017)!
• average worldwide turnover (through 2018) - from
20.6% to 23.4%!
• company with 10,000 employees? turnover costs for
entry-level workers = $17.3 million!
Hay Group; Centre for Economics & Business Research; Human Capital Institute !
12. the numbers!
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• Quits in the private sector declined during the
recession:!
• 2.7 million in December 2007!
• 1.5 million in September 2009 (low) !
• BUT…since the trough the number of quits has
increased by 46% - 2.3 million in February 2014!
• Annual quits rose in 2013 for fourth consecutive year!
Bureau of Labor Statistics - UD DOL (April 8, 2014)!
13. the numbers!
16% of annual salary for high-turnover, low-paying jobs!
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20% of annual salary for mid-range positions <some as high as 50% - 70%> !
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Up to 213% of annual salary for highly educated executive positions!
SHRM Research; Center for American Progress!
14. intangible? … or just
untracked?!
onboarding costs!
ALL hiring costs!
ramp time to productivity!
effect on other employees!
training costs!
cultural impact!
customer impact!
21. the search!
(your favorite method?)!
• employee and peer referrals (33%)!
• customers, suppliers, former colleagues (27%)!
• social media (15%)!
• human resources (12%)!
• recruiters (8%)!
Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
22. the interview!
(what’s your approach?)!
• let conversation flow (33%)!
• focus on skills and job knowledge (25%)!
• focus on unique interests and competencies (16%)!
• focus on personality (9%)!
• structured questions (7%)!
Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
23. the selection!
(the no. 1 factor in process?)!
• the interview (42%)!
• gut feeling for fit with company culture (30%)!
• recommendation from peer/co-workers (13%)!
• experience on CV/resume (5%)!
• references (2%)!
Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
24. 96.9% of candidates with a positive
experience would refer someone to
an organization !
(or apply again themselves)!
2013 CandE Awards (North America); Talent Board !
46,000+ candidates and 122 companies!
why it matters…!
25. what’s a bad experience?!
• cumbersome application process!
• company didn’t acknowledge receipt of application!
• job didn’t match what was advertised (interview)!
• company rep not knowledgeable!
• company did not notify candidate of final outcome!
what else?!
28. strategic onboarding!
• 13% higher rate of new hire performance goals met!
• 19% higher rate of new hire engagement!
• 19% higher rate of new hire retention!
Aberdeen Group (2011)!
29. culture! connection!
clarification!compliance!
“the process of helping new hires adjust to !
social and performance aspects of their jobs quickly
and smoothly”!
Talya N. Bauer; Onboarding New Employees: Maximizing Success
(SHRM Foundation) !
30. • the basics!
• make 1st day special!
• formal & consistent!
• participatory!
• use technology!
• engage stakeholders!
• “onboarding milestones”!
• review and adjust!
what should you do?!
37. formal vs.
informal!
fixed vs. !
variable !
serial vs.
disjunctive!
Organizational
Socialization!
sequential vs.
random!
collective vs.
individualized!
investiture vs.
divestiture!
John Van Maanen and Edgar H. Schein
42. and also consider…!
• compensation and benefits!
• flexibility (telecommuting, schedules, etc.)!
• challenging work assignments!!
• development opportunities/clear career path!
• “stay” interviews!
what else?!
