Build Engagement in your Multi-Generational Workforce with ......Build Engagement in your...

Build Engagement in your

Multi-Generational Workforce

with Stay Interviews

SunCoast HR

2016 On the Cutting Edge Conference

April 21, 2016

© TalentKeepers

Workplace AmericaSM

Longest running research study of

Employee Engagement and Retention Trends

Our Agenda

The Power of Stay Interviews

Understanding Gen Y

Job and Career Issues

Impact of the Leader

Ideas into Action

Do your leaders REALLY know what their team members are thinking?

-4.00%

-3.00%

-2.00%

-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

Sept Oct Nov Dec

Re

ten

tio

n C

han

ge

Financial Impact of Stay Interview ImplementationSept - Dec 2012 vs. Sept - Dec 2013

Region

ROIIndustry Cost

Estimate

Company Pilot Site $194,651

Projected Region Savings $1,518,220

*Cost per lost employee based on industry estimate = $8,780.

Average0.65%

Average-0.24%

Pilot Site

Case Study Customer Service RepPilot Site N=547

Biggest Reason New Hires Leave within 12 months of Employment (excluding pay)

Biggest Reason Employees with More Than One

Year Tenure Leave (excluding pay)

Case Study

Stay Category Themes

1 CareerGrowth/Advancement,Knowledge

2 Coworker Enjoy/Love the People, Team

3 LeadershipLike Management, Dedication and Vision

Leave Category Themes

1 Pay General Compensation, Pay

2 CareerLittle Opportunity to Grow, No Promotion

3 Leadership Undervalued, Communication

72%

Stay Leave

Who Is Who? Generation Born Other Names Characteristics

Traditionalist 1925-1945 Ancients, Silent Generation, Greatest Generation Veterans

Discipline, commitment, loyalty, significant knowledge legacy

Baby Boomers

1946-1964 Boomers, Beat Generations, Hippies, Me Generation

Hard working, relationship oriented, competitive

Generation X 1965-1981 X’ers, Baby Busters, MTV Generation

Independent, flexible, motivated best by new challenges

Generation Y 1982-1998 Millennials, Internet Generation, iGeneration

Raised with technology , confident, comfortable in a multicultural environment, goal-directed

The Generation GapsTraditionalist Baby

BoomerGeneration

XGeneration

Y

Outlook Practical Optimistic Skeptical Hopeful

Work Ethic Dedicated Driven Balanced Ambitious

View of Relationship

Self Sacrifice Mutual Benefit

Reluctant Inclusive

Perspective Civic Minded

Team Oriented

Self Reliant Civic Minded

Is Gen Y really that different?

Most racially diverse with 43% non-white, 38% are bilingual & 35% were born outside the US

83% Sleep with their cellphones

55% have shared a “selfie” compared to 9% of Boomers

The Stay Interview CLEAR Connections

1. Creates open dialog and mutual understanding

2. Amplifies leaders’ understanding of team diversity

3. Identifies team members’ role in retention

4. Speeds assimilation of new team members

5. Establishes dialog on career aspirations

6. Cuts early tenure turnover and improves retention

7. Identifies desired leadership skills

Stay Interview Benefits

Building CLEAR Connections

Strategy Spotlight

8 minute questionnaire: • Asks what attributes an employee values most in

a career, their leader, and their engagement and recognition preferences

• It is not an assessment of anyone, and is notanonymous

The employee’s leader learns what attributes are most important to each team member. This information forms the basis for an initial Handshake Meeting.

Strategy Spotlight

An “Open” or Non-Anonymous Survey

17

A structured one-on-one meeting that focuses on the preferences of employees and interests of the leader; establishes a mutual commitment to engagement, performance and retention

The Handshake Meeting

Strategy Spotlight

Monday, August 22, 2014 10:04 PM EDT

Guides Leaders through each team member’s preferences.

Personalized Discussions are most impactful

Strategy Spotlight

Train Leaders to Effectively Facilitate the Discussion

Stay Interview Themes

• Sensitive: We care about you

• Support: We will support you in your efforts

• Success: We are committed to your success

• Stay: We want you to be here for a long time

#1 Ask employees about their career aspirations and goals

A perceived lack of job and career growth

is a strong driver of leave decisions

Career Preferences by Generation Case Study

Gen Y Gen X Boomers

1Career Opportunities

Financial Worth Financial Worth

2 Financial Worth Work Fulfillment Work Fulfillment

3Professional Growth

Well-Being Well-Being

4 Well-BeingProfessional Growth

Professional Growth

5 Work FulfillmentCareer Opportunities

Stability

6New Experiences

StabilityCareer Opportunities

7 Stability New Experiences New Experiences

Most

Important

“P” = Performance

“I” = Image

PIE Model: Performance, Image and Exposure are the key ingredients in the success of career development.

Predominately the responsibility of the leader

Dual responsibility for the employee and leader

Responsibility of the employee to succeed with the leader’s coaching

“E” =Exposure

Who is Responsible for Career Development?

# 2 Building Employee / Leader Relationships

In TalentKeepers 2015 Workplace America national

survey of over 800 respondents,

Building Trust

is one of the top three leadership initiatives that would most benefit their

organization.

Leadership Preferences by Generation

Gen Y Gen X Boomers

1 Trust Builder Trust Builder Trust Builder

2 Retention ExpertTalent Developer & Coach

Talent Developer & Coach

3High Performance Builder

Retention Expert Communicator

4Talent Developer & Coach

CommunicatorHigh Performance

Builder

5 CommunicatorHigh Performance

BuilderRetention Expert

6 Flexibility Expert Flexibility Expert Talent Finder

7 Climate Builder Climate Builder Flexibility Expert

Case Study

Most

Important

# 3 “I’d really like to thank you

for your outstanding work.”

Engagement Preferences by GenerationCase Study

Gen Y Gen X Boomers

1In Person (80%)

In Person (60%) In Person (67%)

2 Emails (6%)Phone Calls (19%)

Phone Calls (16%)

3Phone Calls (6%)

Team Meetings (11%)

Team Meetings (9%)

4Team Meetings (6%)

Emails (5%) Emails (5%)

5Conference Calls (3%)

ConferenceCalls (5%)

Conference Calls (2%)

Most

Preferred

# 4 Recognition

Preferences

Recognition Preferences by GenerationCase Study

Most

PreferredGen Y Gen X Boomers

1 In Person (48%) In Person (44%) In Person (63%)

2Email or Letter (19%)

Email or Letter (27%)

Email or Letter (21%)

3Team Announce.(16%)

Phone Call (11%) Phone Call (7%)

4 Lunch (12%)Team Announce. (11%)

Lunch (7%)

5 Phone Call (4%) Lunch (8%)Team Announce. (2%)

Group Data Guides Strategy

• Helps organizations see how preferences vary across groups

• Determines leadership training and career planning needs of groups

• Raises awareness of diversity of needs among individuals and groups

• Repeat FirstFit after 18-24 months to keep the information fresh and communication open

• Be aware of changes in employees

• Be proactive in scheduling a stay interview

• Prepare for the conversation

• Plan to discuss employee’s key preferences

• Goal is to build the relationship between employees and their leaders

• Track meetings and ensure accountability

Execution is the Key

The Stay Interview ProcessTake Proactive Control of Engagement & Retention

Gather CLEAR Data on Team Members

Proactively schedule a Stay Interview “Handshake Meeting”

Ensure post-interview follow-up actions are addressed

Track and monitor progress on engagement and retention

Follow-through on commitments and revisit “stay” topics as appropriate

Energize Your Workplace!

Increase Your Impact – We can show you how.

• Become a Member of TalentKeeperswww.TalentKeepers.com

• Email us at solutions@TalentKeepers.com

• Call us at 407-660-6041 ext 103

• Ask me for a complimentary copy of our Workplace America Report

© TalentKeepers

Commit. Engage. Excel.