Would you believe managers can lower employee turnover simply by asking how they can help? Stay interviews have been shown to reduce turnover by more than 20%, preventing high performing employees from jumping ship. How? By building trust between managers and employees. In this webinar you'll learn: Study data that drives home the importance of supervisor effectiveness Specific stay interview tools including questions to ask, data to record, and potential solutions The four required skills leaders must learn to make their interviews successful

2. Presenting Today
Dick Finnegan
CEO
C-Suite Analytics
@Dick_Finnegan
Follow along on Twitter: #BizWebinar @BizLibrary
Krista Brubaker
Content Marketing Specialist
BizLibrary
kbrubaker@bizlibrary.com

3. www.bizlibrary.com/free-trial
BizLibrary helps organizations succeed by improving the way employees learn.

5. Who Is C-Suite Analytics?
Bring broad reach working with scores of
US Companies and across 6 continents,
with targeted retention techniques for
many industries
Business-driven by translating
turnover %s and survey scores to
the language of CEOs which is
Dollar$
Improved retention 20-70% based
on our founder’s top-selling,
industry-changing books…
Endorsed by Chief Executive Magazine, Consulting
Magazine, and BusinessWeek which said, “Offers fresh
thinking for solving the turnover problem in any
economy”

6. Today’s Map
• The Power of Stay Interviews
• First-line leaders roles in engagement &
retention
• Building trust is essential competency
• The Stay Interview Tool-Kit
• Bonus: What makes people happy?

7. The Power of Stay Interviews
A Stay Interview is a structured discussion a leader conducts
with each individual employee to learn the specific actions
she must take to strengthen that employee’s engagement and
retention with the organization
Stay Interviews…
Bring information that can be used today
Focus on individual employees including top performers
Put managers in the solution seat

8. Structured
Five defined questions
that will help you to yield
needed information
Stay Interviews are always conducted
by each employee’s immediate
supervisor in order to build trust
Leader

9.  Reduce Cost of Turnover
 Improve Employee Engagement
 Improve Revenue & Profitability
Dollars

10. U.S. Voluntary Quit Percentages,
Post-Recession…U.S. Bureau of Labor Statistics
Young U.S. workers
will hold 10-14 jobs
by age 38

11. Engagement Stuck…per Gallup/Deloitte
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
ENGAGED
NOT ENGAGED
ACTIVELY
DISENGAGED
US spends
$1.53 billion
each year to
improve
engagement

12. CEO, our turnover
is 12% and the
benchmark is 20%
OR
CEO, our turnover
is 12% and it’s
costing us $2.2 MM
each year
TRUE
BUT ALSO TRUE
CEOs Want Worthless Benchmarks

13. How Much More Do Engaged Employees Produce?
Gallup: 22% more profitability/lower
turnover (TO)/higher earnings per share
(EPS)
GPTW Institute: 20% more
productivity/lower TO/higher EPS
Hewitt: % engaged correlates with higher
shareholder returns (S/H)
Kenexa: double S/H returns
WorkUSA/Watson Wyatt: 26% more
revenue per employee

14.  Reduce Cost of Turnover
 Improve Employee Engagement
 Improve Revenue & Profitability
Goals

15. Retention Programs are driven
from the side like town hall
meetings, employee
appreciation week, newsletters
Business Accountabilities are
driven by executives from the top
like sales, service, quality, & safety
86% of the time
Are Your Engagement & Retention Efforts Driven by…
Accountabilities Programs

16. Poll Question #1
How do you solve engagement &
retention?
With Accountabilities
With Programs

17. “If you have a turnover problem, look first to your
managers”… Gallup
Employees stay for managers first and co-workers
second… salary.com
Employees’ levels of engagement higher when their
supervisors had higher levels of engagement… DDI
“When employees stay, it is because of their
immediate managers”… National Education
Association
Employees who stay primarily for their supervisors
stay longer, perform better, and are more satisfied
with their pay…TalentKeepers
Supervisor’s Impact on Engagement & Retention

18. The Real Power of Supervision
A global consulting firm interviewed 1,000 recently-quit
employees and asked about pay, benefits, development,
advancement and relationships with supervisors… and found
supervisor relationships influenced all other opinions,
concluding…
“Offering a higher salary or
developmental/advancement
opportunity may not be enough to
retain employees”

19. First-Line
Supervisors’
Impact on
Engagement
Data per Gallup

20. The Incredible Power of
Accountability & First-Line
Retention Goals
Strategy A
Group of hospitals
“solved” nurse turnover
with onsite child care &
flexible scheduling
Strategy B
Outlier hospital
assigned retention
goals to managers and
reported progress
monthly
One Year Later: “A” turnover % identical,
“B” down 41%, saved millions of $s

21. Introducing the Power Of…

22. Why Was Your Best Boss
Your Best Boss?
And Why Was Your Worst
Boss Your Worst Boss?

23. The Fortune Top 100, 2012 - 2016
“ Baby bonding bucks…100,000 hours subsidized massages…subsidized
wash & fold…virtual doctor visits…3 prepared organic meals a day…artisan
tea & coffee…onsite oil changes/haircuts/spa truck/bike repair truck…nap
pods…volunteers to Ghana & India…7-acre sports complex…horseshoe
pits…free eyebrow shaping”

24. “Two-thirds of a company’s score is
based on the results of the Great
Place To Work’s Trust Index Survey”
“Any company can be a great place to
work. Our approach is based on the major
findings of 20 years of research – that trust
between managers and employees is the
primary defining characteristic of the very
best workplaces.”
The Great Place to Work Institute

25. Building Trust 1-1 Builds Profits

26. One Big Lesson Learned
It’s not what you give
them, it’s how you treat
them…and first line
supervisors most
influence employees’
relationships with
managers, colleagues,
and duties
And MUST build trust
Insanity: Doing the same thing
over and over again and
expecting different results

27.  Reduce Cost of Turnover
 Improve Employee Engagement
 Improve Revenue & Profitability
Stay
Interviews

28. The Power of Stay Interviews
A Stay Interview is a structured discussion a leader conducts
with each individual employee to learn the specific actions
she must take to strengthen that employee’s engagement and
retention with the organization
Stay Interviews…
Bring information that can be used today
Focus on individual employees including top performers
Put managers in the solution seat

29. 3 Stay Interview Success Stories
Novo 1 Call Centers
Agent turnover down 20%
Florida Hospital Zephyrhills
All turnover down 37%
Nurse turnover down 70%
Burcham Hills Retirement
Community
Nurse turnover down 70%
100% retention first 180 days

30. Top-down, Cascading Implementation
Stay Interview Process Key Ingredients
Executives
w/ Managers
Managers w/
Supervisors
Supervisors
w/ Ind.
Contributors
Time

31. Stay Interview Process Key Ingredients
Conducted by supervisors vs. HR
Separate from Performance Review
Repeat at least 1X/yr for all existing
employees / 2 times a year for new hires
Script opening, questions, probes, closing
Create individual Stay Action Plans
Managers Forecast Retention
Top-Selling SHRM-Published
Book in History

32. Stay Interview 5 Questions
(1) To Build Trust & (2) Gather Data
1. When you travel to work each day,
what things do you look forward to?
2. What are you learning here?
3. Why do you stay here?
4. When was the last time you thought
about leaving our team? What
prompted it?
5. What can I do to make your
experience at work better for you?

33. Poll Question #2
In Stay Interviews, what do employees ask
for the most?
More pay
Development
Work/life balance
Better work processes
Promotions

34. What Do Employees Ask For The Most?
Better work processes!
Please eliminate this report/improve
equipment/get others to be more accountable
Employees most want to be more productive &
eliminate sacred cows

35.  Reduce Cost of Turnover
 Improve Employee Engagement
 Improve Revenue & Profitability
Forecast

36. Managers Forecast Retention
Likely to leave in a 6 months or less
Might leave in 6 – 12 months
Likely to stay greater than 1 year
Can be changed at any time if new information

37. Retention Forecast “HeatMap”
Leader:
Rodriguez
Perf
Rating/
5 Hi, 1
Lo
Green
1+ yrs
Yellow 6-12
Months
Red 0-6
Months
Retention
Plan
Kim Johnson 4 Provide mentor
for…
Burt Brown 5 Develop skills for
possible
promotion to…
Cindy Stone 3 Pleased with
current role &
circumstance
Ralph
Jimenez
2 Coaching for
performance

38.  Reduce Cost of Turnover
 Improve Employee Engagement
 Improve Revenue & Profitability
Accountability

39. “A” turnover % identical,
“B” down 41%, saved millions of $s
The Incredible Power of Accountability &
First-Line Retention Goals
Group of hospitals
“solved” nurse turnover
with onsite child care &
flexible scheduling
STRATEGY A
Outlier hospital assigned
retention goals to
managers and reported
progress monthly
STRATEGY B
one year
later…

40. The Power of Retention Accountability
MANAGER RETENTION GOALS
YTD ACTUAL
TURNOVER %
COST OF
TURNOVER
Bob Jones All T/O 15% 13% $105,378
1st Yr T/O 5% 3% 31,254
Sue Michaels All T/O 15% 10% $71,598
1st Yr T/O 5% 5% 49,560
Ray Murphy All T/O 15% 22% $221,369
1st Yr T/O 5% 11% 88,321

41. How To Build Stay Plans
 Development
 New Role/Promotion
 Pay

42. Subject Probes Solutions
Development If you could learn about
one additional topic
related to your job, what
would that one topic be?
How do you learn best? By
reading? Listening?
Observing? Doing?
How can I know that our
plan is working, that you
are learning what we both
want you to learn?
Assign a mentor for a
specific number of hours
each week for a specific
period of weeks
Ask employee to identify
relevant books and websites
Recommend internal
and/or external courses

43. Subject Probes Solutions
New Role/Promotion Tell me the perfect job for
you
Why is that job so
appealing to you?
What SKILLS do you have
that qualify you for that
job? What SKIILLS would
you have to build?
Ask employee to meet
with/shadow incumbent
and report back on 5 most
important SKILLS
Give employee specific
feedback on her SKILL levels
and SKILLS needed
Build plan to develop
SKILLS via mentoring,
coursework, and feedback

44. Subject Probes Solutions
Pay How much money do you
think you should be
making?
What actions do you see
that you can take to
increase your pay?
What SKILLS can you build
that would make you more
valuable to our company?
Check employee’s pay
against same-performing
peers to verify it is right
Design development plan
that is targeted toward a
different role for more pay if
employee has talent to
qualify
Ensure employee knows all
incentive opportunities that
might provide shorter-term
rewards

45. Vado Stay Interview ToolKit Contents
1. Introduction to the Stay Interview
2. Preparing to Conduct Stay Interviews
3. Essential Stay Interview Skill #1: Listening
4. Essential Stay Interview Skill #2: Taking Notes
5. Essential Stay Interview Skill #3: Probing
6. Essential Stay Interview Skill #4: Taking Notes
7. Managing the Stay Interview
8. Developing A Stay Plan
9. Closing & Moving Forward
10 – 12. Avoiding Stay Interview Traps

46. Gallup’s 100 Year Commitment
Surveying citizens of the world to learn what brings
most happiness over 100 years. So far the answer is
which…
a. Good health?
b. A good job?
c. Love and respect from others?
d. Money for needs and more?
e. Better life for your children?

47. Poll Question #3
Which is the greatest driver of global
happiness?
Good health
A good job
Love and respect from others
Money for needs and more
Better life for your children

48. Gallup’s 100 Year Commitment
a. Good health
b. A good job
c. Love and respect from others
d. Money for needs and more
e. Better life for your children

49. Feel free to contact me…
DFinnegan@C-SuiteAnalytics.com
LinkedIn Profile:
https://www.linkedin.com/pub/dick
-finnegan/6/874/a71
Speaker video:
http://c-
suiteanalytics.com/solutions/keynot
e-speaking/

50. Questions?

51. Stay Interviews Toolkit
12-part eLearning course
from Vado
1. Introduction to the Stay Interview
2. Essential Stay Interview Skill #1: Listening
3. Essential Stay Interview Skill #2: Take Notes
4. Essential Stay Interview Skill #3: Probing
5. Essential Stay Interview Skill #4: Taking Responsibility
6. Preparing to Conduct Stay Interviews
7. Avoiding Stay Interview Preparation Traps
8. Managing the Stay Interview
9. Avoiding Stay Interview Meeting Traps
10. Developing a Stay Plan
11. Avoiding Stay Interview Post-Interview Traps
12. Closing and Forecasting

52. Leadership Fundamentals
7-part video course
7-part video course
1. Introduction to Leadership
2. Leadership Throughout the Organization
3. What is Leadership?
4. Styles of Leadership
5. Management vs. Leadership
6. Traits of Successful Leaders
7. How Leaders Get Followers

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