Reinvest, Re-recruit and Re-engage: The Triple Threat to Talent Loss

Beverly Crowell
Vice President
Career Systems International
September 11, 2013
Reinvest, Re-recruit and
Re-engage: The Triple
Threat to Talent Loss
©2013 Love „Em or Lose „Em: Beverly Kaye and Sharon Jordan-Evans

 Why this is important
 Why you should care
 What you can do!

Two weeks ago, he was your top
associate…
…one week ago he
resigned.

• Exciting work, challenge
• Career growth, learning & development
• Great people
• Fair pay
• Good boss
• Recognition, valued, respect
• Benefits
• Meaningful work –making a difference
• Pride in organization, mission, product
• Great work environment, culture

• Higher profit margin
• Increased innovation
• Increased market share
• Greater net income per employee
• Lower costs
• Better asset utilization
“This is a competitive edge that is often
overlooked by most organizations.”

• Get „em in the door
• Do a survey
• Get the data
• Develop action plans
• Check off the “to do” list
• Create short-term victories
• Later wonder why…nothing really changed
“For many, engagement is defined as the survey and the tedious
action plan...not the realization that someone, somewhere may
need to change their ways.”

The Warning Signs
• Low employee engagement scores
• Increased turnover especially in first two
years of hire
• Exit interview data
• Employee complaints to HR
• Decrease in productivity or quality
• People are talking

Replacement costs for lost talent
can be:
Entry Level: 30% - 50%
Mid-Level Managers: 125% - 200%
Software Engineers: 200% - 400%
Source: “Investing in Your Company’s Human
Capital”- Jack Phillips

• Differentiating knowing from doing
• Passing the buck
• Running on empty
• Happy arrogance
• Forgetting the basics
• Assumptions
• Taking a one-size-fits all approach
• Lack of accountability and follow-thru

Getting Started
• 80% of turnover is directly related to
unsatisfactory relationships with the boss
• Most retention factors are within control of
the manager
• Employees who are ignored by their boss are
40% more disengaged vs. employees who
are criticized by their boss who are 20%
more disengaged
• Bottom line – Bosses Matter!

A 25 year study of 12 million workers in 7,000
different companies discovered:
The relationship with a manager
determines the length of an
employee’s stay.
-- The Gallup Organization

New Boss You Like
Loss Trust in Boss
Variety in Your Work
High Level of Skills
Time to Finish Your Work
36% Pay Cut
36% Pay Raise
21% Pay Raise
19% Pay Raise
11% Pay Raise
Satisfaction Dimension Equal To:
Source: Haliwell and Huang, University of British Columbia

• Selects and develops people so they grow.
• Builds relationships that breed loyalty.
• Creates a work environment that people love.

…yesterday, your competition created
an opportunity for him.
Last month he researched new business
opportunities …

• Help build relationships
– What kind of support or direction do you need from me that you
aren‟t getting? What are you getting that you don‟t want?
• Talk about the job
– How does the job measure up to what we promised so far? Where
are we on or off? How might we course correct?
• Make it match
– How can I help you get more of what you want from this workplace?
Is there anything we need to adjust?
Extend the handshake

• Know Their Talents
– Skills, Interests, Values
• Offer Perspective
– Reflect on reputations
• Discuss Trends & Implications
– Share what‟s changing in their world of work
• Suggest Several Options
– Up is not the only way
• Collaborate on a Plan
– Provide resources, support and eliminate obstacles

LATERAL ENRICHMEN
T
VERTICAL
EXPLORATORY REALIGNMENT RELOCATION

Organizations that have a “recognition culture” report
employees are:
• 5x more likely to feel valued
• 7x more likely to stay with the company
• 6x more likely to invest in the company
• 11x more likely to feel committed to their jobs.
-Bob Nelson
- Razor Suleman

• “You really made a difference by…”
• “I’m impressed with…”
• “You got my attention with…”
• “You’re doing top quality work on…”
• “You’re right on the mark with…”
• “One thing I enjoy most about you is…”
• “You can be proud of yourself for…”
• “We couldn’t have done it without your…”
• “You’ve made my day because of…”
Sentence Starters

Replacing a bad boss with a
good one increases productivity
of each subordinate’s output by
more that 10%.
- Study by the National Bureau of Economic Research,
The Value of Bosses, August 2012

 Demanding
 Lacking patience
 Blowing up
 Criticizing
 Withholding praise
 Setting impossible
deadlines
 Not listening
 Not caring
 Distrusting
 Blaming
 Breaking promises
 Giving mostly negative
feedback

It’s Easy to Be a Jerk…
If You’re
Disengaged
Yourself!

Employees are:
• 12% less likely to stay
• 13% less likely to be innovative
• 33% more likely to be frustrated with the
company‟s systems and processes
• 7% less likely to feel valued
• 6% less likely to feel recognized
Source: Sirota, „The Enthusiastic Employee‟, 2009

• What do you really love to do?
• If you went back to a position in the past that you
loved, what would it be? Why?
• What can I do to keep you?
• What would entice you away?
• What matters most?

• Managers don‟t hold all the cards.
• SatisfACTION requires action.
• The grass isn‟t always greener.
• Waiting gets you nowhere.
• Know your equity.

• Why do you need to focus on reinvesting,
re-recruiting and re-engaging your talent?
• Where and when will you start?
• How can you move it from an idea and
put it into practice?

If you are not
recruiting your best
people, you’re the
only one who isn’t!
Thank You!

Talk about what
matters most!
Email me at:
Beverly.Crowell@car
eersystemsintl.com

Reinvest, Re-recruit and Re-engage: The Triple Threat to Talent Loss

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Reinvest, Re-recruit and Re-engage: The Triple Threat to Talent Loss