This document discusses using metrics and data to improve recruiting. It recommends focusing on referrals and boomerang re-hires, which can provide 2/3 of hires. Referrals are the top source for volume and quality of hires. Boomerang re-hires, or former employees who are rehired, can provide up to 16% of hires. The document outlines selecting strategic metrics in key areas like programs, processes, and budgets. It recommends benchmarking top firms like Google that use algorithms and data to inform people decisions. The presentation provides examples of strategic "OMG metrics" that identify issues, impacts, causes, and recommended actions to drive immediate improvement.
2. 2
Dr Sullivan’s background
• Fast Company Magazine called me… the
“Michael Jordan of Recruiting”
• Staffing.org once called me… “The father
of HR Metrics”
• A VP of HR recently called me… “The
Darth Vader of HR”
Take your pick!
3. 3
Topics for today
1. A shortcut to sourcing and hiring quality prospects
2. A quick introduction to the current state of metrics
3. Some basic definitions and goals
4. Selecting the right metrics
5. Benchmark firms
6. My recommended recruiting function metrics
7. The best data-driven processes for improving
recruiting
8. The future direction of recruiting
9. If time permits… some data-driven retention tips
4. Please feel free to interrupt
at any time with questions or
comments
4
5. “Using data to find the right
candidate for every position”
means… focusing on referrals
and boomerangs
5
Shortcut –
Let’s cut to the chase…
6. 6
What source is #1 in volume and new hire quality
Source effectiveness /quality of hire
1. Employee referrals
2. Large job boards
3. Niche job boards
4. Temp to perm
5. Recruiters
6. Trade media
7. Staffing services
8. College recruiting
9. Career fairs
10. Co-op education
11. Mass media
12. Military
Source: staffing.org 2011
Source popularity Volume
1. Referrals 28.0%
2. Job boards 20.1%
3. Career site 9.8%
4. Recruiter initiated 9.1%
5. College 6.6%
6. Rehires 4.3%
7. Social media 3.5%
8. 3rd party 2.8%
9. Print 2.2%
10. Temp to hire 2.1%
11. Career fairs 1.9%
12. Walk-ins 0.8%
Source: CareerXroads 2012
7. 7
Use referrals to get 50% of your hires
The best firms are now reaching 50% of all hires
Referral applicants are high quality - they found
referrals were 39% of applicants but 61% of all
hires (Jobvite)
Top performers make the best referrals
Refer “for the team”… not the $
Make sure the employee has seen their work
Make sure their work and skills are superior
ID “who beats you” and “who you learn from”
8. 8
Lesser known “quality of hire” sources
Other “quality of hire sources
1. Top performer referrals
2. Boomerang re-hires
3. Professional event recruiting
4. Award winners
5. Contest winners
6. Grad assistants
7. Successful interns
Source: DJS
9. 9
Use boomerang re-hires to get 16% of your hires
At DaVita boomerangs are 16% of all hires and at
Yahoo they are up to 14%
Boomerangs are a known quantity
Begin the relationship during off-boarding”
Use an alumni group to continue the relationship
15. BTW - How do you know for sure that your
function is having a major business impact!
If your function is directly impacting the business…
it will be written up in the annual report
How often does your recruiting function appear? 15
16. 16
Why today is an ideal time to act on analytics
Opinions and past experience don’t change
behavior, metrics are required if you expect to be
“listened to” while sitting in your “seat at the table”
We live in a VUCA world that is difficult to
understand without metrics
“Big data” and data / evidence based decision
making are all the rage with executives
Firms like Google have already demonstrated
what can be done in HR
Other industries (Moneyball) and functions
have already developed an analytics model that
HR can follow
New technologies and research are available >
17. 17
This recent HBR report quantified the importance of
HR metrics
Connecting Workforce Analytics
to Better Business Results
2013
The study can be accessed at:
www.sumtotal.com
http://talent.sumtotalsystems.com/WebRes-Connecting-Workforce-Analytics-HBRReport_0813.html?source=SEARCH_WP_TM_HBRReport_0813&pi=TM%20-%20Complete%20TM
17
18. 18
HBR data supports the connection between using
analytics and workforce effectiveness
Among firms that report a moderate or a high degree
of success in creating a productive workforce
95% are advanced analytics users
80% are moderate analytics users
Only 5% of advanced analytic users report that
they are ineffective in leveraging their workforce
Source: Connecting Workforce Analytics to Better Business Results by HBR 2013
20. 20
A few quick definitions…
so that we are all on the same page
20
21. 21
Some quick simplified definitions
1.Metrics – the process of measuring and reporting a
result or output
2.Historical metrics – measures that focus on
reporting things that have already occurred
3.Workforce Analytics – a set of integrated
capabilities (technologies, metrics, data and pro-cesses)
to measure, analyze, identify trends and to improve
workforce performance
4.Real-time metrics – reporting or monitoring
metrics that cover what is happening now in order
to improve current decisions
5.Predictive metrics – using past and current data to
forecast and model upcoming problems/opportunities
22. 22
Some quick simplified definitions
6. A scorecard – results listed on a 1 sheet (Balanced)
7. A dashboard – an array of metrics, that in a single
view, covers all of the key functional measures
8. “Why” metrics – a process for identifying why
things happen in Talent Management
9. Showing revenue impact – converting standard
HR metrics to their dollar impact on revenue
10. An algorithm – a formula /equation that
accurately directs talent actions (who to hire?)
11. Index – a combination of metrics converted to a
single number for ease of comparison (i.e. Dow Jones)
23. 23
Some quick simplified definitions
12.Business Intelligence (BI) – information for
improving business decisions
13.Big data in recruiting – huge, changing and
complex data sets that… can’t be easily
analyzed using traditional software (Recruiting
Big Data – Sales leads/ credit, LinkedIn,
Facebook, Professional association or website
membership lists, DOL labor supply reports etc.)
24. What are the 6 primary goals or purposes of
metrics?
24
25. 25
Reports or opinions do not change behavior
1. They drive action – metrics influence managers
and employees so that they change their behavior
An example - how Google uses data to influence
“All people decisions at Google are based on data
and analytics”
“Even when people don’t want to believe that
they’re underperforming, it’s hard to dispute years'
worth of numbers”
“For most people, just knowing that information
causes them to change their conduct” >
26. 26
What are the 6 primary goals for metrics?
2. Improved decisions – metrics improve the
accuracy and the $ impact of the talent decisions
made by managers / HR in “fact driven HR”
3. They tell you “what is working” – metrics tell
you what is working, what is not working and
why for continuous improvement purposes
4. Increased funding and executive support –
metrics cause executives to better fund HR
because metrics reveal the business impact it has
27. 27
The 6 primary goals of metrics
5. They prepare you for the future – metrics reveal
trends and they can alert you on upcoming
problems / opportunities so that you can act in
time
6. They help you better allocate resources –
metrics tell leaders which programs produce the
highest value, so that they can shift resources
towards the areas with the highest ROI
28. An effective HR function identifies and focuses its
resources on activities that increase profit (BCG)
28Source: BCG/WFPMA - From Capability to Profitability: Realizing the Value of People Management, 2012
Which TM functions have the highest impact on profit?
32. 32
You need metrics in each of these 4 areas
1.One for every major program goal – Ex. new
hire on-the-job performance and retention rate
2.One for every major improvement area – Ex.
increase the diversity rate, cut offer rejects etc.
3.One for every major executive budgeting
decision criteria – ID and gather information to
meet each of the executive funding criteria
4.Data for assessing process ROI - use data to
calculate the ROI and then shift resources to the
recruiting processes with the highest ROI
33. What does a great strategic metric looked like?
33
34. 34
There are 6 categories that should be covered in the
metrics for assessing an entire HR program
1.Quantity (Volume) Number hired
2.Quality (Error rate) Performance on the job
3.Time (On time or the time to complete) Time to fill
4.Money (Cost or revenue generated) Cost per hire ($9k)
5.Satisfaction (Of the users) Hiring mgr. satisfaction
6.Comparison number Aver. CPH is $4k
QQTMSC Recruiting example
35. 35
What does a strategic action metric looked like?
There are 2 basic categories of action metrics
“So what metrics” – when you see them you think
either “so what” or “that’s interesting” but you take
no action (The average new hire had a GPA of 2.8)
“OMG” metrics – the topic causes you to read
them and seeing significant variations up or down
causes you to take immediate action (i.e. because
of it’s $ impact on corporate revenue) An example >
36. 36
A simple OMG recruiting metric
This year there were 210 position vacancy days
in loan officer positions at this Midwestern bank
Last year they had only 110 vacancy days, before
the CFO cut the recruiting staff by 20% (The root cause)
$5000 is the lost revenue for each day that a loan
officer position is vacant
Rev impact – $500,000 loss per year if we take no
action ($5,000 loss per day X 100 additional excess vacancy day)
The savings from the 20% recruiter cut was only
$200,000 (a minimum $300,000 net loss)
OMG!
38. 38
The very best strategic OMG action metrics
include these 10 elements?
1. It shows its impact on corporate goals (revenue)
2. It quantifies that goal impact in dollars
3. It is reported where it will be seen by executives
4. It shows the “near future” trend line
5. It includes several comparison numbers (last
year’s, the average and the best in the firm, the
average and the best in the industry)
6. It includes “real-time” current data
7. It identifies the root cause of the problem
8. Highlights the effective actions & their success rate
9. It includes the cost of doing nothing or delaying
10.It drives immediate action
39. 39
An example of an OMG metric display
HR metric – Time to fill (TTF)
This months' TTF = 90 days
Projected TTF = 112 days (Up 22%)
Last year’s TTF = 78 days TTF Trend (Up 22%)
Best in the industry = 29 days (We are 61 days behind)
Cause – Mgr.'s workload is slowing interview scheduling
Action required – Cut interview delays with after
hour video interviews – minimal cost and a 87% success rate
Accountable individual – Pam Tyne, staffing manager
Rev. impact of no action
- $4.1 million Corp goal: Time to Market
40. 40
Provide “drop-down” menus for detailed information
Provide instant access to “in depth” information
Time to fill (up 22 %)
• Consequences of slow TTF
•Reasons for slow TTF
•TTF data for your unit
•Definition of TTF
•Formula for time to fill
• Which jobs take the longest
• More recommended actions
Drop-down menu
Run your cursor over the metric
and you see this drop-down menu
42. 42
Let the CFO be your champion
Don’t select your HR metrics in isolation…
instead… let the “king of metrics” guide you
1.Work with the CFOs / COO office to determine
what they consider to be strategic metrics
2.Let the CFO / COO select the final ones (3x5
cards)
3.Also consider letting the CFO present/ report
your metrics
An illustration >
42
43. The smartest thing I ever did in HR…
“I hired the assistant comptroller to do my HR
metrics”
I had zero funding arguments after that because:
1. They were credible because the CFO and others
trusted who did them
2. The metrics used the language and the format
that the senior leadership could understand
3. They included no “soft” metrics or language
43
45. 45
Who are the benchmark firms to learn from?
Benchmark firms for recruiting metrics
1. Google
2. DaVita
3. Sodexho
4. Deloitte
5. CACI
6. Marriott
7. Tata
A Google example >
46. 46
Example
The “data driven” approach at Google
Algorithm (Google oxygen) to define leader
behaviors, to identify leaders and to fix bad ones
Algorithm for predicting who will leave /retention
Algorithm for predicting hiring success and what
doesn’t work
Algorithm for increasing interaction, collaboration
and innovation (length of the cafe line)
Algorithm to increase hiring, promotion and
retention of women
47. 47
The best benchmark comparison data sources
Staffing.org - this group narrowly focuses on recruiting
http://www.staffing.org/productsandservices.asp
PWC - Saratoga - this arm of the consulting firm have been
doing benchmark metrics (including recruiting) for years
http://www.cfodirect.pwc.com/CFODirectWeb/Controller.jpf;jsessionid=L0GbF5LXMM72QtvnF7W72n2nD21WnGzx8T
NxbGGjByJh9Xz05Dxd!-552653960?ContentCode=MSRA-7XXJQD&ContentType=Content
The Recruiting Roundtable -- this members only group
includes some of the largest corporations, it specializes in
sharing recruiting best practices
https://rr.executiveboard.com/Public/PDF/Driving_Business_Decisision_with_Metrics.pdf
BNA - this publishing firm has been doing a broad HR
benchmarking survey for years
http://www.bna.com/special/hrpromo/?gclid=CJPHiYeo658CFSEbawod8iHUcQ
48. 48
Other good comparison data sources in recruiting
CareerXroads - they rank both sourcing channel usage and
the leading corporate websites www.careerxroads.com
Best Practices, LLC - focused on the pharmaceutical,
biotech, medical device and health care industries http://www3.best-
in-class.com/bestp/domrep.nsf/pages/96DEB3761738BDE485257026006CD495!OpenDocument
NACE - this association focuses on college recruiting
http://www.naceweb.org/Research/Recruiters/2009_Recruiting_Benchmarks_Survey.aspx
The Hackett Group - this consulting group does a lot of
work with government agencies
http://www.thehackettgroup.com.au/solutions/benchmarking.jsp
APQC - this benchmarking group periodically does some
private benchmarking studies with top companies www.apqc.org
CLC - this membership group does periodic "gold books"
covering HR best practices and benchmark firms
http://recruiting.hr.toolbox.com/research/
50. A list of metrics to choose from
Strategic recruiting goals and their metrics
Note: Strategic metrics cover the functional actions
and programs that have a measurable impact on
corporate goals
50
51. 51
9 revenue impact recruiting measures
1. The total dollar impact of great recruiting on
the business this year – this number is the sum of
the $ results from the following 8 rev. metrics
2. Performance of the hire – the % of improvement
over average on the job performance ratings (or
performance appraisal) after 6/12 mths. (Value - % of
improvement multiplied by the average revenue per employee)
C-Level executives rated new hire quality as the
#1 most important HR performance metric, out
of 20 metrics Source: Staffing.org - Impress the CEO survey
This metric also reveals the best source and assessment approach
52. 52
Revenue impact recruiting measures
3.New hire failure rate – % of new hires in key jobs
had to be terminated or asked to leave (Cost – the #
of bad hires multiplied by times the cost of a bad hire – 1X
salary)
4.Voluntary turnover of new hires - the % of new
hires that voluntarily quit within their 1st year (Cost
- the # of voluntary turns multiplied by the replacement
costs and the lost revenue until they are replaced)
5.The number of “vacancy days” – after a position
is vacated, the number of vacant days in key and
revenue-generating positions (Cost – the average revenue
generated each day multiplied by the number of vacant days)
53. 53
Revenue impact recruiting measures
6. Number of not-filled positions – the number of
key positions that were not filled by recruiting
(Cost – the number of not filled days multiplied by the
average revenue per employee per day)
7. The number of positions not filled by “need
date” – the number of days after the “need by
date” that key positions were filled (Cost – the
number of vacant days after the need date multiplied by
the average revenue per employee per day)
54. 54
Revenue impact recruiting measures
8. New hire “time to productivity” TTP – because
quality hires are productive almost immediately,
the average time it takes for new hires to meet
the minimum output standard (Value – the
average reduction in days that it takes to reach
minimum productivity multiplied by the revenue
per employee per day)
55. 55
Revenue impact recruiting measures
9. Project delays and missed strategic
opportunities as a result of weak recruiting -
because on time project completion has a direct
impact on revenue, the loss must be estimated
(Cost: this “project delay metric” is calculated by
surveying project managers on a quarterly basis
to identify if any projects have been negatively
impacted by weak recruiting and the cost of those
delays)
The cost of missed opportunities should also be
included
56. 56
5 quality of hire recruiting measures
10.High level diversity hires – because diversity
reduces errors and increases innovation, the % of
diverse hires in exempt an executive level
positions
Plus these:
On-the-job performance of new hires
Voluntary turnover rate
New hire failure rate
Time to productivity
57. 57
2 competitive advantage recruiting metrics
11. Give away/ take away ratio - the # of employees
in key jobs that we “poach” from a competitor
firm… compared to the number that they “poach”
from us
12. Employment brand strength – a strong external
employer brand results in a larger number of
applicants, so track the number of applications
received each year (Google 2 mil, Yahoo
600k), track the % of improvement or compare it
to last year’s total or to the number that top
competitors receive
58. 58
2 additional strategic recruiting metrics
13.Percentage of innovators and game changers
hired - if your goal is to hire more innovators and
purple squirrels, survey hiring managers 6 months
after a hire and ask them whether the work of this
individual qualifies them as an innovator
14.Manager & new hire satisfaction survey – the
% of key managers, new hires in key jobs and
applicants that are satisfied with the hiring
process
59. 59
Tactical metrics that should be calculated but…
not reported to executives
Note: Tactical metrics are for internal functional use
for continuous improvement and resource allocation
59
60. 60
High impact tactical recruiting metrics
1. % of new hires from quality sources – because
using quality sources results in better quality
hires… track the % of applicants for key jobs
that came from top sources (usually employee
referrals and boomerang rehires)
2. The quality of those not-hired – because a great
hiring process doesn’t “miss” hiring top
applicants, measure the % of superstar applicants
that were not hired, and the # of “exceeds
qualifications” that were “not hired” from
target firms
61. 61
Lower impact tactical metrics
These other tactical recruiting metrics are good
for identifying efficiency and effectiveness
problems
1. Offer acceptance rates
2. Interview to hire rates
3. Quality of applicants
4. Recruiter req. loads
5. Time to fill (vs. filled by need date)
6. Cost per hire
63. 63
Predictive recruiting metrics
Predictive metrics to consider
Upcoming internal hiring needs – what new skills
will be needed and in which jobs and regions
Labor market competition - will there be a
surplus or shortage of labor in key jobs and regions,
which will change the difficulty of hiring top talent
(the unemployment rate)
Competitor hiring – which talent competitor firms
will be hiring, and in what positions, which firms
are likely to be losing top talent for us to recruit?
>
64. 64
Predictive recruiting metrics
Predictive metrics to consider
Changing candidate expectations – what will be
the changing expectations of our target candidates
Our future employer brand image – will it be
getting better or worse relative to our competitors
Individual talent availability – what exceptional
individuals will likely become available as a “talent
opportunity”
Acqui-hiring possibilities – which “high talent”
small firms will be available for purchase or
merger
66. 66
What is the best data-driven process for finding
and selling top candidates?
66
67. 68
Conduct market research on how they look
Step #1 – Understand their job search process
You must accurately understand how top
candidates look for a job today!
Identify the most common approaches… by
interviewing new hires during onboarding and
asking them to outline how they went about
their job search
Realized that active job seekers use a different
search approach than “not-looking” prospects
Obviously your recruiting approach must
“match” their job search process
68. 69
Conduct market research… on what they want
Step #2 - You must precisely know what
candidates care about in a firm… and a job
You can’t assume that you know, instead you
must use market research surveys (among your
own employees and applicants) to compile a list
of the factors that top candidates demand in a
firm (i.e. a great product)
Also identify what they look for in a great job
(i.e. a great manager)
Put information covering these firm and job
factors in your branding messages and in your
job postings
69. 70
Conduct market research on where they read
Step #3 – Where would they read about your firm
Before prospects can become interested in a
job, they have to read / hear information that
attracts them to the firm
So, unless your firm is extremely well-known, you
must 1st understand where potential prospects
would see, read and hear information about
your firm (including general recruiting and employer
branding messages as well as product information)
Use surveys of new hires or hold focus groups at
professional meetings to identify those places
where prospects would read company information
70. 71
Conduct market research on where
they would see a job posting
Step #4 – Where they would see a job posting
Survey applicants, new hires and current
employees to identify the specific places where
active candidates would most likely see one of
your job posting (Niche job boards, Monster etc.)
Step #5 - How could they hear about an opening?
Because most “not-looking” prospects don’t
frequently visit job posting sites, you may learn
that prospects find out about job openings through
their social network or employee contact as a
result of your employee referral program
71. 72
Once individuals are called in for an interview…
Step #6 – You must identify interviewee’s “job
acceptance criteria”
You can’t successfully “sell” a candidate during
the interview process unless you know their
personal criteria for accepting a job
You should also identify “dealbreaker” issues
Either ask them to fill out a simple sheet or ask
them directly during their 1st interview
You want to make sure that they realize that your
firm and job meets most of their criteria by
providing them with relevant information
throughout the interview and offer process
72. 73
Step #7 - Survey new hires to find the best sources
Identify the high impact sources during onboarding
1. Tell us the primary source that made you aware
of our firm. Was there a secondary source?
2. Tell us the primary source that made you aware
that we had this job open. Was there a secondary
source?
3. What was the final trigger that convinced you to
formally apply?
73. 74
Step #8 - Survey new hires to find out what worked
Identify “what worked” during onboarding
1. List the key selling points you heard during the
interview process that convinced you to say yes?
2. List the factors that made you less sure about
saying yes?
3. What parts of the recruiting process worked best
for you and why? What were the worst parts and
why?
4. If you could change one thing about the
recruiting process, what would it be?
5. Tell us why you quit your last 2 jobs (For
retention use)
74. 75
Data can reveal the failure points in your
entire recruiting funnel
75
75. 76
Look at the number and quality of candidates that
make it through each hiring step
Branding provides sufficient
name recognition
Sourcing attracts the right
number of applications
The recruiter resume
screen leaves quality
prospects
Managers approve
the candidate slates
Finalists are
selected
% of offers
accepted
Goal 45% know firm
Actual 47% know
Goal 1,000 apps a wk.
Actual 1,200
Goal 38% pass
Actual 40.4% quality apps.
Goal 75% approval &
33% are diverse
Actual 23% / 3% women
Goal finalists are selected
90% of the time & 30% are
diverse
Actual 30% / 1% diverse
Goal 85% accepted / 30% women
Actual 85% / 1% women
77. 78
Highlighting the future direction of HR metrics
Metric leaders must move in this direction
1. HR must adopt a data based decision model
which follows the approach already taken by
every other major business function… as well
as sports (Moneyball) and the film industry
2. Link people management actions to business
results and quantify their revenue impacts
3. Calculate the ROI for HR programs
4. Calculate the cost of delay and doing nothing
5. Provide fewer but more impactful metrics
78. 79
Highlighting the future direction of HR metrics
HR must move in this direction
6. Shift away from “ last year” metrics
7. Shift to real-time data for managers so that they
can make better people management decisions
8. Move towards predictive analytics for alerts, if-
then scenarios and modeling
9. Provide a range of workable solutions to the
problems that metrics identify
10.Tie your metrics to rewards
11.HR must learn to hire those with analytics skills
79. 80
HR must move in this direction
12. Provide internal & external comparison numbers
13. Do “why” research to identify the causes of
problems
14. HR must embed its metrics in standard financial
reports to increase their visibility
15. Calculate the performance differential between
top and average performers in the same job, to
justify focusing on top performers (5% - 26%)
16. Small business must adopt them because of lean
budgets and small size magnifies the impact…
And government needs them because of
increased scrutiny
82. 83
Retention is the #1 problem over the next 10 years
A SHRM/economist survey showed that execs care
about retention
83. 84
A data-driven approach to retention
7 key retention principles to remember
1. Most retention processes are not data-driven
2. Companywide retention actions that equally
impact all employees have a low success rate / ROI
3. Prioritize jobs and key employees because you
can’t (and don’t want to) keep everyone
4. It takes a “career impact event” to trigger leaving
5. Everyone has a unique set of reasons for leaving, so
you need a personalized retention plan
6. The #1 reason for leaving is generally under their
manager’s control
84. 85
Retention must be a data-driven approach
Identify “why” employees have left
1.Identify general causes of turnover – develop a
process for identifying the general causes of
turnover in the past (summarizing all exit
interviews)
2.Identify the turnover causes for key individuals
that left – develop a process for accurately
identifying the specific causes why a targeted
individual actually left (use post-exit interview
with the ex-employee or “buy” offer letters)
85. 86
Data-driven retention
Identify “why” individual current employees
might leave
“Why do you stay?” interviews, also ask “What
factors would cause you to begin consider
leaving?”
Why did you quit your last 2 jobs? (Ask during
onboarding)
86. 87
Data-driven retention
Identifying “who” is at risk of leaving?
Develop a process for identifying “who” (which
individual employees) are most likely to leave
The process might include external approaches:
A search of the web for resumes
Blind recruiter calls… to see who responds
A dry search by a headhunter to see who is desirable
Run blind ads to identify who is applying
Suddenly speaking at conferences
They extensively update their LinkedIn profile
87. 88
Google identify these precursor factors
Google uses an algorithm to spot internal patterns
Employee reviews
Promotion history
Pay history
Employee surveys
Peer reviews (360 degree)
Employee training
Leadership meetings
They look for employees who “feel underused”
88. The retention actions of firms usually don’t match
the reasons why employees leave
Why employees leave
1.Better comp/benefits $
2.Coaching programs
3.Mentoring programs
4.Tuition reimbursement $
5.Stock options $
6.Profit-sharing $
7.Flexible hrs./schedule
8.Retention bonuses $
Only 2 of 6 causes are met
Most common offerings
89
1.Career advancement
2.Pay/benefits $
3.Lack of job fit
4.Management/environ
5.Flexible scheduling
6.Job security
1 of 6 is $
Sources: Gallup 2006 Sources: OI Partners 2012
89. Top performers stay for different reasons
An average worker wants these
things… (Homer Simpson)
1. Doing the best work of your life
2. Proud of their impact
3. Great managers
4. Opp. to innovate/ take risks
5. Learn rapidly / be challenged
6. Choice of projects
7. Make decisions
8. Implement ideas
9. Input into schedule/ location
10.Work with top co-workers
Top performers want “well
managed” factors… (LeBron/ Messi)
90
1. Guaranteed pay
2. Exceptional benefits
3. Security
4. Time off with pay
5. No surprises/ predictable
6. Seniority matters
7. Equal treatment
8. Minimize risk and stress
9. Work/ Life balance
90. 91
Retention metrics
High business impact retention metrics
1. The cost of turnover
2. The forecasted turnover rate for next year
3. The % of employees that are “at risk” of leaving
4. Performance turnover (Top performers count more)
5. Regrettable turnover
6. High revenue impact turnover
7. Key position turnover
8. Key individual turnover
91. 92
Retention metrics
High business impact measures to consider
9. Where the turnover goes
10.Hard to replace turnover
11.Preventable turnover
12.Involuntary turnover
13.Innovator, a game changer and pioneer turnover
Present this list to senior executives and ask which
ones they consider the most important to report