Tag Archives: Turnover

What’s Wrong With Retention Bonuses? Pretty Much Everything

In 30 years, I have yet to see a retention bonus retain, let alone motivate, anyone. – Kate D’ Camp, former VP of HR at Cisco Let’s face it: only a few people voluntarily spend any time thinking about the use of employee retention bonuses (ERBs). I wouldn’t either, except for the fact that a majority of major firms use them instead …

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Stay Interviews: an Essential Tool for Winning ‘the War to Keep Your Employees’

The complete guide on how to use stay interviews to improve retention Many firms use exit interviews to find out why employees are leaving their jobs. Unfortunately, asking an employee on their last day “why are you leaving?” doesn’t provide useful information in time to prevent the turnover. A superior approach that I’ve been recommending for over 20 years is …

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Performance Turnover

The Cost of Turnover may be higher than you think Performance Turnover Try using “Performance Turnover”, a measure I developed in our retention work, in lieu of the traditional turnover calculation. We have used it in a variety of configurations but it works something like this. Start with the assumption that losing a “Hi-Per’s” (High Performing Employees) is three times as bad as …

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The Right Way To Measure Turnover

When the economy turns around next year, retention will almost instantly go from being a non-issue to a major issue. But because most HR departments currently miss the boat when it comes to measuring and reporting turnover, they are likely to compound the increased turnover problem by underreporting turnover and the impact of turnover on the organization. That’s why I …

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What is the Ideal turnover rate

There are many opinions about what is the “ideal” turnover rate. Here is how a CEO might look at it. Voluntary turnover should be zero for the top 10% of our best performers.Turnover should be 100% for the bottom 10% (our Worst performers).Voluntary turnover should be zero for the key jobs and key competencies that we have identified.Our voluntary turnover should be 10% or …

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