“ Retention: The Key to a Successful Recruiting Strategy” Hosted By: David Freeman Talent Management Solutions Consultant Cytiva Software Inc.

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“ Retention: The Key to a Successful Recruiting Strategy” What motivates the Gen Y workforce & why do they leave Best practices ideas for retention How can you build a solid retention plan

What motivates the Gen Y workforce & why do they leave

Best practices ideas for retention

How can you build a solid retention plan

“ Retention: The Key to a Successful Recruiting Strategy” What motivates the Gen Y workforce & why do they leave Best practices ideas for retention How can you build a solid retention plan

What motivates the Gen Y workforce & why do they leave

Best practices ideas for retention

How can you build a solid retention plan

“ Retention: The Key to a Successful Recruiting Strategy” High unemployment: 6.5%– still rising Layoffs Bankruptcies, Home Foreclosures Business Closures Declining Market Why worry about retention?

High unemployment: 6.5%– still rising

Layoffs

Bankruptcies, Home Foreclosures

Business Closures

Declining Market

Why worry about retention?

“ Retention: The Key to a Successful Recruiting Strategy” Unemployment rate for college graduates remains low at approximately 2% They’ve been there, seen that Average tenure less than 2 years Gen Y’ers and their “retention deficit disorder”

Unemployment rate for college graduates remains low at approximately 2%

They’ve been there, seen that

Average tenure less than 2 years

Gen Y’ers and their “retention deficit disorder”

“ Retention: The Key to a Successful Recruiting Strategy” Generation Y Generation WhY Generation Next Millenials Internet Generation Nexters Boomlets Nintendo Generation .com Generation

“ Retention: The Key to a Successful Recruiting Strategy” Approximately 80MM Gen Y workers Born between 1980 – 1994 Internet commonplace 9 out of 10 have a pc at home (according to Forrester Research)

Approximately 80MM Gen Y workers

Born between 1980 – 1994

Internet commonplace

9 out of 10 have a pc at home (according to Forrester Research)

“ Retention: The Key to a Successful Recruiting Strategy” What does a Gen Y’er expect? Job satisfaction & acknowledgement Expect to be challenged at work along with a high degree of personal autonomy Work/life balance Communication – often and timely Higher salaries than their predecessors Interaction w/ key executives and an open forum to share ideas

What does a Gen Y’er expect?

Job satisfaction & acknowledgement

Expect to be challenged at work along with a high degree of personal autonomy

Work/life balance

Communication – often and timely

Higher salaries than their predecessors

Interaction w/ key executives and an open forum to share ideas

“ Retention: The Key to a Successful Recruiting Strategy” What does a Gen Y’er expect? (cont’d) A clear career plan Quick advancement and/or change in job responsibilities/assignments Flexible work schedules, additional PTO

What does a Gen Y’er expect? (cont’d)

A clear career plan

Quick advancement and/or change in job responsibilities/assignments

Flexible work schedules, additional PTO

“ Retention: The Key to a Successful Recruiting Strategy” What makes them different? Not as concerned about job security Have more of a need for self-expression High expectations and confidence Inability to concentrate on a single task for long periods of time – Multi-tasking generation

What makes them different?

Not as concerned about job security

Have more of a need for self-expression

High expectations and confidence

Inability to concentrate on a single task for long periods of time – Multi-tasking generation

“ Retention: The Key to a Successful Recruiting Strategy” How can we retain them? Starts with the recruiting process Make it personal! Establish or re-establish your employment brand Evaluate your applicant experience Extend a compelling offer Onboarding Training Communication Career path planning Mentoring

How can we retain them?

Starts with the recruiting process

Make it personal!

Establish or re-establish your employment brand

Evaluate your applicant experience

Extend a compelling offer

Onboarding

Training

Communication

Career path planning

Mentoring

“ Retention: The Key to a Successful Recruiting Strategy” How can we retain them? (cont’d) Performance Management Help the establish career goals Regular, timely feedback Career development, continuing education, learning opportunities Maintain Work/life balance, flexibility Recognize and reward Maintain a modern working environment

How can we retain them? (cont’d)

Performance Management

Help the establish career goals

Regular, timely feedback

Career development, continuing education, learning opportunities

Maintain Work/life balance, flexibility

Recognize and reward

Maintain a modern working environment

“ Retention: The Key to a Successful Recruiting Strategy” What motivates the Gen Y workforce & why do they leave Best Practices ideas for retention How can you build a solid retention plan

What motivates the Gen Y workforce & why do they leave

Best Practices ideas for retention

How can you build a solid retention plan

“ Retention: The Key to a Successful Recruiting Strategy” Best Practices It’s all about the culture Choice Balance Development Care Empower them- give them the ability and authority to get things done Treat them with respect and trust

Best Practices

It’s all about the culture

Choice

Balance

Development

Care

Empower them- give them the ability and authority to get things done

Treat them with respect and trust

“ Retention: The Key to a Successful Recruiting Strategy” Best Practices (cont’d) Continual training and development Strong performance management process Recognize and reward accomplishments Hire the right people in the first place

Best Practices (cont’d)

Continual training and development

Strong performance management process

Recognize and reward accomplishments

Hire the right people in the first place

“ Retention: The Key to a Successful Recruiting Strategy” Best Practices – examples Flexible schedules Flex time Telecommuting Days off to recognize a job well done Acknowledging personal milestones Instant rewards

Best Practices – examples

Flexible schedules

Flex time

Telecommuting

Days off to recognize a job well done

Acknowledging personal milestones

Instant rewards

“ Retention: The Key to a Successful Recruiting Strategy” Best Practices – examples Voluntary benefits programs 529 plans Long-term care insurance Pet insurance Computer discount and purchase assistance programs (Dell and HP) Regularly having fun at work Theme days Parties Ice cream break Financial planning counseling

Best Practices – examples

Voluntary benefits programs

529 plans

Long-term care insurance

Pet insurance

Computer discount and purchase assistance programs (Dell and HP)

Regularly having fun at work

Theme days

Parties

Ice cream break

Financial planning counseling

“ Retention: The Key to a Successful Recruiting Strategy” What motivates the Gen Y workforce & why do they leave Best practices ideas for retention How can you build a solid retention plan

What motivates the Gen Y workforce & why do they leave

Best practices ideas for retention

How can you build a solid retention plan

“ Retention: The Key to a Successful Recruiting Strategy” Establishing a retention plan Determine what your employees want Determine what the current climate is at your company – reality check Establish a written plan – involve your employees in its development Exit interviewing Track your results

Establishing a retention plan

Determine what your employees want

Determine what the current climate is at your company – reality check

Establish a written plan – involve your employees in its development

Exit interviewing

Track your results

“ Retention: The Key to a Successful Recruiting Strategy” Determine what they want Share the details of your project with the team Ask them individually for ideas Ask them in a group to brainstorm ideas Observe them in action – pay close attention

Determine what they want

Share the details of your project with the team

Ask them individually for ideas

Ask them in a group to brainstorm ideas

Observe them in action – pay close attention

“ Retention: The Key to a Successful Recruiting Strategy” Determine the current climate Employee morale survey Be honest with yourself and your management team Review existing feedback if available – 360 evaluations, employee hotline, etc.

Determine the current climate

Employee morale survey

Be honest with yourself and your management team

Review existing feedback if available – 360 evaluations, employee hotline, etc.

“ Retention: The Key to a Successful Recruiting Strategy” Establish a written plan Takes some courage Set priorities based on what’s most important to your employees based on your findings Apply standard action plan/goal writing techniques to your plan: S.M.A.R.T Involve the entire management team to attain organizational buy-in Publish the completed plan and review regularly

Establish a written plan

Takes some courage

Set priorities based on what’s most important to your employees based on your findings

Apply standard action plan/goal writing techniques to your plan: S.M.A.R.T

Involve the entire management team to attain organizational buy-in

Publish the completed plan and review regularly

“ Retention: The Key to a Successful Recruiting Strategy” Exit interviewing Establish a guideline for exit interviews; Who? When? How? Good idea to use a third party Schedule exit interview reviews

Exit interviewing

Establish a guideline for exit interviews; Who? When? How?

Good idea to use a third party

Schedule exit interview reviews

“ Retention: The Key to a Successful Recruiting Strategy” Track your results Follow-up morale surveys Employee observation worksheets Plan review committee Key performance indicators Retention % Turnover % - especially voluntary turnover Reasons for turnover Performance Review Scores

Track your results

Follow-up morale surveys

Employee observation worksheets

Plan review committee

Key performance indicators

Retention %

Turnover % - especially voluntary turnover

Reasons for turnover

Performance Review Scores

“ Retention: The Key to a Successful Recruiting Strategy” What motivates the Gen Y workforce & why do they leave Best practices ideas for retention How can you build a solid retention plan

What motivates the Gen Y workforce & why do they leave

Best practices ideas for retention

How can you build a solid retention plan

Cytiva’s Free Webinar series Sourcing Talent in a Time of Scarcity Getting the Most Out of Your Recruiting Investment Six Steps To Implementing Performance Management Software Interview Techniques and Strategies for Hiring top Performers Retention: The Key to a Successful Recruiting Plan Download at: www.sonicrecruit.com/company/events.htm

Cytiva’s Free Webinar series

Sourcing Talent in a Time of Scarcity

Getting the Most Out of Your Recruiting Investment

Six Steps To Implementing Performance Management Software

Interview Techniques and Strategies for Hiring top Performers

Retention: The Key to a Successful Recruiting Plan

Download at: www.sonicrecruit.com/company/events.htm

“ Building an Effective Referral Program to Source Quality Hires” Cytiva Software Inc. offers a wide variety of products and services to help you get the most out of your recruiting efforts. Talent Acquisition System Custom career sites Employee referral management Career agents Ad posting and tracking Manager self-service Contact management/Outlook integration EEO/OFCCP compliance Vendor Management Module Onboarding Module Hourly Recruiting System Consulting SonicPerform Performance Management System To learn more contact: David Freeman Talent Management Solutions Consultant 877-775-0888 www.sonicrecruit.com

Cytiva Software Inc. offers a wide variety of products and services to help you get the most out of your recruiting efforts.

Talent Acquisition System

Custom career sites

Employee referral management

Career agents

Ad posting and tracking

Manager self-service

Contact management/Outlook integration

EEO/OFCCP compliance

Vendor Management Module

Onboarding Module

Hourly Recruiting System

Consulting

SonicPerform Performance Management System

To learn more contact:

David Freeman

Talent Management Solutions Consultant

877-775-0888

www.sonicrecruit.com