Half day open training even held in Toronto, Ontario.

1. All you need to know about employee
retention and minimizing attrition
by Toronto Training and HR
August 2015

2. CONTENTS
3-4 Introduction
5-6 Definitions
7-8 Types of turnover
9-10 Stay interviews
11-15 Exit interviews
16-17 Talent retention strategies
18-20 Retention strategies in a laboratory setting
21-22 Employee retention and employee commitment
23-24 Costs incurred due to high turnover
25-26 Intangible rewards that are powerful retention tools
27-28 Ways to retain different generations
29-31 An effective orientation program
32-33 Training to aid retention
34-35 Career development and retention
36-37 Skilled managers and retention
38-42 Retaining talent after a merger or acquisition
41-42 Support from employers for skills training
43-45 Case study-healthcare workers in rural areas
46-48 Problems resulting from low retention
49-50 Conclusion, summary and questions
Page 2

3. Page 3
Introduction

4. Page 4
Introduction to Toronto Training
and HR
Toronto Training and HR is a specialist training and
human resources consultancy headed by Timothy Holden
10 years in banking
15 years in training and human resources
Freelance practitioner since 2006
The core services provided by Toronto Training and HR
are:
Training event design
Training event delivery
HR support with an emphasis on reducing
costs, saving time plus improving employee
engagement and morale
Services for job seekers

5. Page 5
Definitions

6. Definitions
• Employee retention
• Turnover
• Attrition
Page 6

7. Page 7
Types of turnover

8. Types of
turnover
• Involuntary
• Voluntary
Page 8

9. Page 9
Stay interviews

10. Stay
interviews
• Typical questions
Page 10

11. Page 11
Exit interviews

12. Exit
interviews
1 of 4
• Definition
• Purpose
• When should they be
done
Page 12

13. Exit
interviews
2 of 4
Questions
• The organization
• Management
• Job profile
• Development
• Typical questions
• Beginning
• Middle
• End
Page 13

14. Exit
interviews
3 of 4
• Rate the job
content
• Rate the work
environment
• Rate the
manager
• Rate the
professional
development
Page 14

15. Exit
interviews
4 of 4
• Exit checklist
Page 15

16. Page 9
Talent retention strategies

17. Talent
retention
strategies
• Incentives
• Norms and values
• Coercion
• Recruitment of new
professionals
• Knowledge
management
Page 10

18. Page 16
Retention strategies in a
laboratory setting

19. Retention
strategies in a
laboratory
setting 1 of 2
• Define the institution
• Explain the structure
and systems
• Foster relationships
with colleagues
• Define roles and
responsibilities
• Specify job standards
and contributions
• Discuss the informal
organization
Page 19

20. Retention
strategies in a
laboratory
setting 2 of 2
• Pay attention to
performance
management
• Emphasize career
development
• Accentuate professional
development
• Create a positive climate
• Highlight and explain
the political culture
• Develop metrics and
generate feedback
Page 20

21. Page 21
Employee retention and
employee commitment

22. Employee
retention and
employee
commitment
• Loyalty
• Hiring and selection
• Compensation and
social benefits
• Grievance handling
Page 22

23. Page 23
Costs incurred due to high
turnover

24. Costs incurred
due to high
turnover
• Separation cost
• Replacement cost
• Training cost
• Vacancy cost
Page 24

25. Page 25
Intangible rewards that are
powerful retention tools

26. Intangible
rewards that
are powerful
retention tools
• Meaningfulness
• Choice
• Competence
• Progress
Page 26

27. Page 27
Ways to retain different
generations

28. Ways to retain
different
generations
• Traditionalists
• Baby Boomers
• Generation X
• Millennials
Page 28

29. Page 29
An effective orientation
program

30. An effective
orientation
program 1 of 2
• Offer information in
manageable chunks
• Think through the
process from the new
hire’s point of view
• Develop a new-hire
buddy system
• Have regular check-
ins
• Customize the
approach
Page 30

31. An effective
orientation
program 2 of 2
• Create a welcoming
atmosphere
• Present the big picture
• Provide opportunities
for immediate
contributions
• Briefly re-interview for
hidden talents
• Evaluate the process
Page 31

32. Page 32
Training to aid retention

33. Training to aid
retention
• Formal programs
• Self-directed training
• Coaching and
mentoring
• Job aids
• Conferences,
workshops or
memberships
Page 33

34. Page 34
Career development and
retention

35. Career
development
and retention
• Job enrichment
• Job rotation and
cross-training
• Lateral moves
Page 35

36. Page 36
Skilled managers and
retention

37. Skilled
managers
and retention
• Present the data
• Offer leadership
training or
information
• Hold managers
accountable
• Supply resources
Page 37

38. Page 38
Retaining talent after a
merger or acquisition

39. Retaining talent
after a merger
or acquisition
1 of 4
• Identify retention
candidates as early in
the process as
possible
• Recognize that
money is necessary
but insufficient, to
create the emotional
connections to the
new organization that
ultimately prove a
stickier bond over
timePage 39

40. Retaining talent
after a merger
or acquisition
2 of 4
• Remain flexible within
the confines of a
well-defined and
consistent retention
strategy and process
Page 40

41. Retaining
talent after a
merger or
acquisition
3 of 4
A retention checklist
• Understand the retention
risks inherent in deals
• Develop a clear retention
strategy
• Identify the right people to
target
• Know what you want to
accomplish
• Don’t rely solely on money
• Be clear and committed to a
set of guiding principlesPage 41

42. Retaining
talent after a
merger or
acquisition
4 of 4
A retention checklist (cont.)
• Use retention agreements
as an important
component of a retention
strategy
• Implement the strategy as
early in the deal as
possible
• Remember that people can
leave for reasons unrelated
to the deal
Page 42

43. Page 43
Case study-healthcare
workers in rural areas

44. Case study-
healthcare
workers in rural
areas 1 of 2
• Typical directions of
travel for Vietnamese
doctors
• Push and pull factors
for health workers in
rural China
• Motivational factors
related to employee
retention
Page 44

45. Case study-
healthcare
workers in rural
areas 2 of 2
• Regulatory initiatives
• Financial incentives
• Professional and
personal support
• The Zambian Health
Workers retention
scheme
Page 45

46. Page 46
Problems resulting from
low retention

47. Problems
resulting
from low
retention
1 of 2
• Difficulty in maintaining high
quality professional
standards
• Rising costs of recruiting and
hiring replacement people
• People with skills and
knowledge leaving to work in
other, non-technical areas
such as IT
• Putting intellectual capital at
risk
Page 47

48. Problems
resulting
from low
retention
2 of 2
• Decreased employee
satisfaction
• Reduced quality, resulting in
reporting errors
• Disruption of ongoing
customer relationships
• Rising payroll costs due to
necessary overtime
expenses to fill the
employment gap
Page 48

49. Page 49
Conclusion, summary and
questions

50. Page 50
Conclusion, summary and
questions
Conclusion
Summary
Videos
Questions