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 [email protected]
• Call us at 407-660-6041 ext 103
• Ask me for a complimentary copy of our Workplace America Report
© TalentKeepers
Commit. Engage. Excel.