How Losing Your Best Employees is Killing Innovation
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Human Resources Today / HR Innovators Virtual Conference - September 2016 Employees at the front lines often have better ideas for innovation than others within the business, but when they walk out the door, they take those ideas with themWant to innovate better and faster than the competition? You need to hold onto your best employees and the ideas they have. In this session we will explore how various pieces of the talent life cycle are related to retention and examine more than 20 strategies and ideas for improving retention outcomes for your business. It's not enough to want lower turnover--we need a strategy and a plan to get us there. Much of what HR and talent professionals do day-to-day is difficult to measure, but retention is one figure that executives understand well. Are you ready to keep your best employees and develop stronger engagement in your workforce? Sign-up at http://www.humanresourcestoday.com
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How Losing Your Best Employees is Killing Innovation
- 1. Innovation Buster: How Losing Your Best Employees is Killing Innovation With Ben Eubanks
- 2. About the Conference 2 Days, 6 Education-packed sessions
- 3. About Ben Eubanks Ben Eubanks Ben Eubanks is the Principal Analyst at Lighthouse Research, a firm dedicated to uncovering the trends and technologies that drive HR, learning, and talent. His research focuses on human capital innovation, strategy, and technology. In addition, Ben writes a blog for in-the-trenches HR leaders at upstartHR.com, a resource that has touched more than 650,000 lives since 2009. He also hosts “We’re Only Human,” a series on the HR Happy Hour Podcast Network focused on the intersection of technology and people in the workplace.
- 4. Innovation is the Key Business Metric
- 5. The Real Reason People Leave
- 6. 20+ Retention Ideas (Hint: get ready to take notes)
- 7. Gamify
- 8. Be a Data Geek
- 10. Be Transparent (and then some)
- 13. Make Them Cry
- 16. Focus on Talent Mobility
- 17. Destroy Performance Management Sears, SAP, others
- 18. Forget the Crazy Perks
- 20. Stay Interviews
- 22. Ask, Then Act
- 23. Follow Dan Pink’s Advice
- 24. Make it an Agenda Item
- 26. Growth > Tenure
- 27. Work on Your Story
- 28. Let’s Connect! Email: ben@upstarthr.com Website: http://upstartHR.com Twitter: @beneubanks LinkedIn: http://linkedin.com/in/beneubanks Get free guides about topics like PHR/SPHR prep, employee engagement, onboarding, and more: http://upstarthr.com/freebies/
- 29. Q&A
- 30. Don't Miss the Next Session!
Editor's Notes
- Talk about IBM study: industry convergence. What it means for us: tell Uber/Carnegie Mellon story.
- Managers think people leave for money, they actually leave for culture, job fit, manager, work environment, etc.
- Think like a scientist. Be willing to experiment, test, and pilot new ideas
- 1 Gamify-put everyone's retention rates out on a public board.
- 2 Put on your data geek hat. Target hot spots (VOANA)
- 3 Exit interviews, including online and post-departure. (digital courage)
- 4 Transparency. people want to know what is going on. Pull from transparency deck
- 5 Revisit ownership: make managers responsible for reporting retention.
- 6 Deliver high quality development. One 2015 study pointed to development opps as the #1 reason people join/stay with a company.
- 7 Realistic job previews. UnitedHealth Group shows videos of people serving patients. If you're not moved to tears, the job isn't for you.
- 8 Make it hard to get in. Lampo Group 12 interviews.
- 9 Create connections. Gallup question: friend at work. Social groups, etc. Pinnacle Pounders.
- 10 Let them leave--internally. Mature manager required. Talent mobility.
- 11 Create a performance enablement function, not a performance management/appraisal function. Help better. Can't drive only w/rearview mirror.
- 12 Glassdoor data. CEO approval ratings, benefits that matter. Not dogs at work and foosball tables. It's good insurance and retirement benefits.
- 13 Adjust your approach based on your compensation strategy. If you're lagging, expect more. If you're leading, you should expect less.
- 14 Stay interviews. Not a new concept, but still not often practiced.
- 15 CEO Save Strategy
- 16 Ask employees what's going on, and be willing to address it. 7 hidden reasons slide
- 17 Follow Dan Pink's Advice: autonomy, mastery purpose
- 18 Have leaders talk about retention often. Really often. A-little-too-much often
- CVS Caremark story. Personal story.
- 20 Make growth more important than tenure. One company I talked with last week uses a person's growth and training as a factor in their performance reviews ,because they want to evaluate the whole person.
- Freebie: Work on your story. GATR.