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Why Retention begins (but doesn't end!) with Recruiting
- 1. Why retention begins (but doesn’t end) with recruiting! Robin Schooling, SPHR ! @RobinSchooling! LMGMA Annual Conference! April 2014 !
- 3. –Irving Berlin! “Popular music is popular because people like it.” !
- 5. –Kurt Cobain! "We're so trendy we can't even escape ourselves." !
- 6. Robin Schooling, SPHR! ! @RobinSchooling! ! @SilverZebras! HR strategist | consultant! ! HR blogger! ! HRSchoolhouse.com! ! SilverZebras.com! ! The Top 100 Most Social ! Human Resources Experts On Twitter! Huffington Post (2013)! ! ! developing integrated HR & Talent Management strategies for business success!
- 7. swing baby swing!! photo credit: Snoop Dogg via InterscopeGeffenAM; Elvis via wikimedia commons !
- 8. the scoop…! • why it matters! • the foundation of talent attraction and acquisition! • the importance of onboarding! • cultural assimilation! • organizational socialization! • the leader’s role!
- 10. why it matters…part 1!
- 11. the numbers! • US workforce expected to grow 4.4% (2013 through 2017)! • average worldwide turnover (through 2018) - from 20.6% to 23.4%! • company with 10,000 employees? turnover costs for entry-level workers = $17.3 million! Hay Group; Centre for Economics & Business Research; Human Capital Institute !
- 12. the numbers! ! • Quits in the private sector declined during the recession:! • 2.7 million in December 2007! • 1.5 million in September 2009 (low) ! • BUT…since the trough the number of quits has increased by 46% - 2.3 million in February 2014! • Annual quits rose in 2013 for fourth consecutive year! Bureau of Labor Statistics - UD DOL (April 8, 2014)!
- 13. the numbers! 16% of annual salary for high-turnover, low-paying jobs! ! 20% of annual salary for mid-range positions <some as high as 50% - 70%> ! ! Up to 213% of annual salary for highly educated executive positions! SHRM Research; Center for American Progress!
- 14. intangible? … or just untracked?! onboarding costs! ALL hiring costs! ramp time to productivity! effect on other employees! training costs! cultural impact! customer impact!
- 15. why it matters…part 2!
- 17. who are you?! who do people think you are?!
- 18. why it may not matter! censored! photo credit: Jim Marshall!
- 19. image of Robert Johnson (1935) via wikipedia!
- 21. the search! (your favorite method?)! • employee and peer referrals (33%)! • customers, suppliers, former colleagues (27%)! • social media (15%)! • human resources (12%)! • recruiters (8%)! Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
- 22. the interview! (what’s your approach?)! • let conversation flow (33%)! • focus on skills and job knowledge (25%)! • focus on unique interests and competencies (16%)! • focus on personality (9%)! • structured questions (7%)! Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
- 23. the selection! (the no. 1 factor in process?)! • the interview (42%)! • gut feeling for fit with company culture (30%)! • recommendation from peer/co-workers (13%)! • experience on CV/resume (5%)! • references (2%)! Sam Bacharach (Cornell University & Bacharach Leadership Group) 2013 - survey of Inc. 5000 firms!
- 24. 96.9% of candidates with a positive experience would refer someone to an organization ! (or apply again themselves)! 2013 CandE Awards (North America); Talent Board ! 46,000+ candidates and 122 companies! why it matters…!
- 25. what’s a bad experience?! • cumbersome application process! • company didn’t acknowledge receipt of application! • job didn’t match what was advertised (interview)! • company rep not knowledgeable! • company did not notify candidate of final outcome! what else?!
- 26. how can you make it better?!
- 27. onboarding!
- 28. strategic onboarding! • 13% higher rate of new hire performance goals met! • 19% higher rate of new hire engagement! • 19% higher rate of new hire retention! Aberdeen Group (2011)!
- 29. culture! connection! clarification!compliance! “the process of helping new hires adjust to ! social and performance aspects of their jobs quickly and smoothly”! Talya N. Bauer; Onboarding New Employees: Maximizing Success (SHRM Foundation) !
- 30. • the basics! • make 1st day special! • formal & consistent! • participatory! • use technology! • engage stakeholders! • “onboarding milestones”! • review and adjust! what should you do?!
- 31. culture!
- 33. how does stuff really get done?! photo credit: Paramount/Getty Images!
- 34. what are the components of your culture?! • vision! • values! • practices! • people! • story/narrative! • environment! what else?!
- 35. – me! “Retention should be the outcome; ! not the strategy.” !
- 36. socialization! photo: Getty Images via Wiki Commons!
- 37. formal vs. informal! fixed vs. ! variable ! serial vs. disjunctive! Organizational Socialization! sequential vs. random! collective vs. individualized! investiture vs. divestiture! John Van Maanen and Edgar H. Schein
- 38. how will ! you ! encourage! socialization?!
- 41. performance management! • honesty…authenticity…transparency! • set clear expectations and provide timely feedback! • recognize and reward! • respect and value individuals…and their contributions!
- 42. and also consider…! • compensation and benefits! • flexibility (telecommuting, schedules, etc.)! • challenging work assignments!! • development opportunities/clear career path! • “stay” interviews! what else?!
- 43. photo credit: Pennie Smith!
- 44. what do you see?! photo credit: Chalkie Davies (1979)!
- 45. what do you hear?!
- 46. Robin Schooling, SPHR robin@silverzebras.com! LinkedIn.com/in/RobinSchooling ! Thank You!!