As an employee retention speaker and employee retention expert, I am often invited to facilities to get acquainted with the organization so I can customize a program I am delivering for a client. When wandering about, I like to look for charts, measurements and other factual indicators of how the organization is doing. When I see no charts, I immediately start to wonder if the organization has a handle on their business. If they don’t have some basic measurements on sales, on time deliveries, customer complaints, etc., I can virtually guarantee they are not tracking their employee turnover.
When I ask the question, “What is your turnover?” and I get “well it’s around X but we’re not sure.” What? Are you serious. Employee turnover may be costing you more than warranty returns and you don’t know or don’t even measure it much less know what it is? Amazing as it sounds, that is often the case. Many organizations have no clue what their turnover is; much less try to do anything about it. Those organizations that I see tracking and drilling down into the data, examining and slicing and dicing it in different ways are usually doing pretty well when it comes to their employee retention or, at the very worst, it is not out of control.
If you are a CEO, VPHR or any senior level person reading this, the beginning of the year is a great time to start building that data. Start now! I even recommend going back and reconstructing the prior year in January so you have some baseline to compare to. Why? It will probably scare you to death or shock you when you see the numbers. It might cause you enough anxiety or anger so you decide to do something about it. When that occurs, you are ready to start acting.
It’s the start of the year. Get off your duff and start tracking your employee retention numbers as part of your employee retention strategies for 2017. After all, how can you know where you are going if you have no clue where you currently are?