Employee Retention

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WHITEPAPER
VOLUME TWO

EMPLOYEE RETENTION
REDUCING RECRUITMENT BY INCREASING RETENTION

WHITE PAPER EMPLOYEE RETENTION

EMPLOYEE RETENTION
REDUCING RECRUITMENT BY INCREASING RETENTION

DRAKE I NTERNATIONAL NORTH AMERICA

CONTACT DRAKE FOR FURTHER INFORMATION ON HOW OUR INNOVATIVE SOLUTIONS CAN CREATE A SUCCESSFUL RETENTION PROGRAM THAT WILL REDUCE YOUR STAFF TURNOVER. CALL OR VISIT

VANCOUVER•EDMONTON CALGARY•WINNIPEG LONDON•HAMI LTON OAKVILLE•MISSISS AUGA TOR ONTO•BELLEVILLE BROCKVI LLE•KINGSTON COR NWALL•OTTAWA MONTRÉAL•QUEBEC CITY MONCTON•HALI FAX PLANTATION•LOS ALAMITOS

volume two

© Drake International NA

EMPLOYEE RETENTION

Retaining your best staff is essential to your company’s performance. For managers, nothing feels better than having a productive and happy workforce who are collectively focused on the organization’s success. Drake offers valuable insight into understanding the causes of undesirable turnover. We will provide practical and actionable employee retention tactics that will have an immediate effect on improving top performing staff retention.

CONTENTS
1 :: INTRODUCTION 2 :: PEOPLE ARE VALUABLE 3 :: RECOGNIZING THE PROBLEM 4 :: SOLUTIONS A :: Top Performer Profiling B :: Orientation and OnBoarding C :: Performance Reviews D :: Career Pathing and The Two-Way Value Proposition E :: Communication and Employee Engagement F :: Morale Boosting G :: Competitive Compensation H :: Non-monetary Reward and Recognition I :: Employee Surveys J :: Exit Interviews K :: The Boomerang Effect 5 :: CONCLUSION 6 :: RETENTION CHECKLIST Look after your people and the business will look after itself.

volume two

© Drake International NA

EMPLOYEE RETENTION
1 :: INTRODUCTION Have you ever phoned or revisited a client and discovered that the person you were dealing with is no longer working for the company? It’s an unfortunate and frustrating realization. All that time – and often money – spent developing a relationship and sharing business strategies with someone you trusted went out the window. Now recall how you felt about the organization your client represented. Their reputation became unreliable, you lost faith in their business practices and you probably lost interest in working with them. So if you have felt this way about other companies, then your clients likely feel the same about yours if you have trouble retaining your top talent. For managers, nothing feels better than having a strong, successful, happy workforce in place who are mutually focused on the organization’s performance. Hiring top-quality individuals is an important task on its own, but essential to any manager’s ongoing process is a critical retention strategy. In fact, hiring does not end when the candidate has accepted the position. Advantageous initiatives and well-planned processes must be firmly in place and consistently nurtured so that employees will have reasons to remain with your company for growth to continue. Following a well developed strategy will let you reduce recruitment through retaining your top-performing talent. Obviously, you cannot hold onto all your best people, but you can certainly minimize the loss. Reducing employee turnover is a strategic and vital issue, beneficial to your company’s bottom line. It has taken considerable time and resources to attain a staff whom you are proud of – to replace them starves your organization of many essential success factors (money, overall attitude, productivity, etc.) and the company’s ultimate triumph. The intent of this whitepaper is to help you discover the importance of retaining your valuable employees and provide you with a list of solutions. 2 :: PEOPLE ARE VALUABLE Like an art collector who has spent time and research attaining that Great Master’s work which embodies the talent, skills and training of the artist, getting excellent staff requires the same passion. The collector protects the painting with superior security and environmental...
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