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How to Retain Your Employees and What to Do if You Lose Your Star Player

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How to Retain Your Employees and What to Do if You Lose Your Star Player Presented by: Confidential and Proprietary © Glassdoor, Inc. 2008-2015 © 2015 Robert Half International Inc. All rights reserved. An equal opportunity employer M/F/Disability/Vet.


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Webinar Tips for Attendees You can connect to audio using your computer’s microphone and speakers. Or, you may select “Use Telephone” after joining the Webinar. All lines will be muted to avoid background noise. You can ask questions at any time by typing them into the Questions Pane.


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The Speakers Alison Hadden Director of Brand Strategy, Glassdoor Paul McDonald Senior Executive Director, Robert Half


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By the way, I’m leaving.


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What We’ll Cover Why good employees quit 5 signs an employee is considering leaving Creating a “disaster plan” Q&A Winning strategies for engaging and retaining employees


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Why Good Employees Quit *Source: Bureau of Labor Statistics **Source: Glassdoor Employees are feeling more confident in the job market than they have in nearly 6 years U.S. unemployment rate was 5.6% in December – the lowest level since June 2008 Nearly 3M jobs were created in 2014 “Quit rate” has stayed near a post-recession high of 1.8% for 7 consecutive months JOB SEEKERS ARE CONFIDENT** THE JOB MARKET IS GOOD*


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Survey Says … Source: Robert Half CFOs and Workers Agree: Employees Most Likely to Quit Over Salary


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5 Signs an Employee Is Considering Leaving Disengagement and behavioral changes Sudden interest in career development Asking for information about previous projects Decreased interaction with managers A new, more formal wardrobe 1 2 3 4 5


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5 Signs an Employee Is Considering Leaving 1 Disengagement and behavioral changes More errors and missed deadlines Disengagement in meetings Change in level of socialization with colleagues Lower productivity


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2 5 Signs an Employee Is Considering Leaving Was the person previously unconcerned with advancement? Is the person expressing frustration over a lack of development opportunities? Sudden interest in career development


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3 5 Signs an Employee Is Considering Leaving Is there a sudden interest in company statistics or past successes? A sign the employee is doing a resume update or preparing for a review, or is it a sign of an active job search? Asking for information about previous projects


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4 5 Signs an Employee Is Considering Leaving Has the worker stopped checking in with you regularly? Do you feel your employee is purposely avoiding you? Decreased interaction with managers


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5 5 Signs an Employee Is Considering Leaving Dressing up can be a sign your employee has a job interview A new, more formal wardrobe


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The Disaster Plan YOUR STAR EMPLOYEE JUST QUIT. WHAT DO YOU DO NOW? Stay calm Conduct an exit interview Use temporary help to fill the gap Communicate with staff Use your talent pipeline Address the workplace issues Develop succession plans


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Don’t overreact The dangers of extending a counteroffer Remember, not all exits are bad STAY CALM


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CONDUCT AN EXIT INTERVIEW Really listen to the answers Someone other than the employee’s direct manager should conduct the interview Questions to ask Why are you leaving? What did you enjoy most about the job? What would have convinced you to stay? Would you consider working for the company again? How did you find your new job? Don’t wait until the last day to conduct an exit interview


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FIND TEMP HELP Use a contract or temporary professional in the short term Fills the immediate need Gives you time to conduct a thorough search for a new hire Temporary worker could eventually be converted to full time


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BE CANDID WITH STAFF Don’t keep your remaining staff in the dark Keep the team updated on plans for finding a replacement and moving forward Should you share the person’s reasons for leaving?


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USE YOUR TALENT PIPELINE Expect that someone is going to leave, and be prepared for it Source: CareerBuilder Half of HR managers said they have open positions for which they can’t find qualified candidates 46% said hard-to-fill positions remain open for more than a quarter of the year If you don’t have a pipeline, an experienced recruiter will


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ADDRESS WORKPLACE ISSUES Follow up on information from the exit interview Have recent exit interviews revealed any trends? What can you change to keep your employees engaged and invested?


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DEVELOP SUCCESSION PLANS Have replacements in mind for key players on your team and start training them Develop junior employees’ skills so they’re ready to be promoted when you have a surprise opening The departure of a star player can be an opportunity for another


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Strategies for Retaining Employees Winning employee engagement tactics to retain talent: Offer competitive salaries Know what matters most Track employee sentiment Communicate clearly Focus on career development Recognize great work


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Offer Competitive Salaries Know what your people are worth Remember, insufficient pay is the top reason good employees leave What are competitors paying? Are your keeping pace? Glassdoor: glassdoor.com/salaries Robert Half Salary Guides: roberthalf.com/salary-guides


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What Matters Most [Glassdoor member survey results]


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Track Employee Sentiment Keep tabs on how your employees are feeling to understand what matters Where can your firm improve?


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Engage Your Employees Encourage organizational transparency Communicate openly and honestly Encourage employees to post reviews of the company on Glassdoor


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Focus on Career Development Provide defined career paths and promote from within Offer assignments and projects that enable employees to put their skills to use Provide training and education opportunities Conferences Online learning Lunch-and-learns Mentoring programs


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Recognize Great Work Regularly check in with employees Don’t wait until it’s time for annual reviews Acknowledge a job well done, at both the individual and team level In-person thanks can be powerful


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Questions?


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How to Retain Your Employees and What to Do if You Lose Your Star Player Presented by: Confidential and Proprietary © Glassdoor, Inc. 2008-2015 © 2015 Robert Half International Inc. All rights reserved. An equal opportunity employer M/F/Disability/Vet.


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