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Retention Analytics: Data to Guide Retention Strategies
How important is the retention of key talent for you? Employee retention is described by 73% of the executives in a major TalentKeepers study as “very important” or “extremely important”
as a critical business issue tied directly to their organization’s ability
to achieve its business results. If those who said it’s “important” are
included, the number jumps to 90%.
Yet, one of today’s biggest business problems is little understood by
most business leaders. While most organizations at least track overall
turnover, few generate detailed data on its causes, costs, consequences
or the key drivers of employee retention and engagement.
Turnover impacts productivity, customer satisfaction, employee
morale and more. Do you know why people join, stay and leave your
organization? Can you describe what must be done to significantly
improve retention? |
Employee turnover is the
silent killer of business
productivity. Yet most
leaders know little about
why people join, stay and
leave their organization,
or the best ways to
improve retention. Like
every business problem,
sound solutions come
only from reliable data.
Retention Analytics
provides the information
you need to craft and
monitor your strategies. |
Turnover impacts productivity, customer satisfaction, employee
morale and more. Do you know why people join, stay and leave your
organization? Can you describe what must be done to significantly
improve retention?
TalentKeepers’ Retention Analytics measure and report the impact
of three critical factors that contribute to turnover and the degree of
influence those factors have on employees’ decisions to join, stay or
leave. These are:
Organizational factors: Pay, benefits, policies, programs, and other
aspects of the organization that affect a team member’s likelihood to
stay or leave.
Job factors: Aspects of the job itself, like training, schedules, the
environment and tasks which affect a team member’s likelihood to stay
or leave.
Leader factors: Practices or behaviors the immediate leader is
exhibiting which affect a team member’s likelihood to stay or leave the
organization.
Retention Analytic Tools
TalentWatch™
TalentWatch is a 12 minute employee survey that allows your organization to look at
the stability of your workforce and evaluate the three factors attracting, keeping and
driving talent away. It also allows you to measure:
- Risk of turnover
- Changes in employee satisfaction
- The influence of organization, job and leader factors on why people stay and leave
- The ability to segment all results by individual leader or any organizational demographic
- Results can be filtered by performance, tenure and other variables
- A free-response section generates relevant and timely data on the most important and
immediate reasons people stay or are considering leaving, allowing pre-emptive action
to initiate retention actions
Added benefits include:
- A Retention Analytics dashboard
- Global benchmark data
- Detailed reports are immediately available online enabling timely review and action
PartingWords
PartingWords is an exit survey that will uncover the true reasons why your team
members leave your organization. Like TalentWatch™, the survey questions will fall into
the categories of organization, job and leader factors.
PartingWords also asks if team members would consider rejoining the organization
if their concerns were addressed. The survey takes approximately 8 minutes to
complete. Team members can complete it on-line by following simple login procedures.
Comprehensive Reports for TalentWatch™
and PartingWords
Detailed reports as well as summary reports are available for TalentWatch and
PartingWords that guide informed decisions and actions to attack turnover and track
progress, ROI, and the impact of all of your retention efforts. Reports include:
- Individual team
member reports
- Group team reports
- Organization reports
- Filtered reports by performance level, tenure,
etc.
Employee turnover is a business problem that requires reliable data to guide
investments, strategies and tactics. No one can help you more than
TalentKeepers, the
global leader in employee retention solutions.
RetentionTrack: A New Reporting and Analytics Tool from TalentKeepers®
RetentionTrack is the newest and most advanced data
reporting tool available from TalentKeepers®. Detailed
reports can now be translated into charts, graphs and
other displays that synthesize and communicate a wide
range of retention analytics.
RetentionTrack lets you capture and display a wide
variety of metrics that are generated by RetentionWorks®,
TalentKeepers® award-winning employee
retention system, plus your organization-specific
turnover and retention data. The combined information
can be quickly displayed for quick action, executive
briefings or presentations.
What can RetentionTrack do for you?
This valuable metrics tool can:
-
Present a dynamic, real-world view
of turnover data and related RetentionWorks® metrics
with periodic data refreshes
-
Provide a graphic display of
retention activities for at-a-glance understanding
and quick action
-
Unite data, in a single display,
from various RetentionWorks® tools with your unique
performance measures, key indicators, turnover data,
and more, allowing you to see a complete, team,
department or multi-department picture.
To learn more and to order Retention Analytics, contact us at:
RetentionSolutions@TalentKeepers.com |
