Assess Employee Retention Risks


20200524 risk ass

It has been said that your most valuable asset walks out of the doors every single day and you can but hope they come back the next day – your employees!

Keeping employees from leaving a company could be as simple as engaging with them, including them, helping them develop new skills and listening to their ideas. While that sounds deceptively simple, not every leader finds it easy to act when they hear that advice.

Get the facts

Before taking action it is almost always a good idea to get the facts first. Do we have an issue? If so, where are we most at risk? In the case of employees the questions may be – who may be most at risk of leaving the company and what can I (as manager/supervisor/coach) do to avoid that?

The self audit list below may be a good place to start assessing how much anyone on your team may be tempted to leave your team or the company.

Self Audit template

Completing the checklist requires you to answer yes or no to a series of statements as they would apply to each employee on your team. Once you have completed the assessment, add up the numbers of “no” answers you have for each employee and use the Score guide at the top of the page to determine whether each employee would be in the low, medium or high risk from an employee retention perspective.

The next risk to assess, is the impact it would have on your project or team if that particular employee decided to leave. Look at each employee (each column) and consider the unique skills and talents that he or she brings to the project and rate the impact that his/her (unplanned) voluntary departure could have – low, medium or high.

Map it

Where to start? Map the answers from the self audit sheet onto the graphic below. The risk that each employee could decide to leave on the horizontal access and the impact on the project, in case that employee did leave, on the vertical axis.

Then write down the names of employees that would be in the “green zone” vs the “yellow zone” vs the “orange zone”.

The orange area requires immediate and high focus, the yellow zone does require focus, but less so. The green zone requires maintenance. Do not assume that because a retention risk is low today it would stay that way for years. Many talented employees get calls and offers from other companies and recruiters all the time! This means you should never stop reminding them why you are happy that they are on your team! And don’t only tell them, show them! Celebrate milestones and successes, recognize them in meaningful ways and show them how working with your team or company is the right long-term strategy for them. Make sure you offer them advantages towards their overall life goals, their career goals, their work-life balance goals etc.

Take action

Once you know where to focus, use the last worksheet as a checklist for areas where you can lower the risk that someone may consider leaving the team.

Use one checklist per employee and make sure that you have conversations with each employee about the areas where you either did not know the answers (looking at the self-audit worksheet) or you have not said anything to an employee about a particular area.

When it doesn’t work

Sometimes employees will leave for reasons you could neither foresee nor control and though it may negatively impact your team or project, you would need to hire someone else or promote someone else into the role that had become vacant. Make sure you are always developing several employees on your team to take on more tasks and responsibilities. A good pipeline of developing leaders is your best strategy for growth and also for voluntary employee turnover. Parting on good terms when valuable employees leave always leaves the door open for their potential return in the future.

Using this focused approach to assess your employee retention risk exposure does not guarantee that valued employees will not leave. it is simply a prudent way to keep an eye on your biggest assets, employees, and it supports the process of taking timely actions to lower those risks.

Change Management – Getting senior management onboard


change-mgt-overview-blog-pic

Before any organizational change is launched there has to be meetings with executives and senior leaders to ensure alignment around the reason(s) and main principles of the change initiative. Meeting objectives would also typically include getting their support for executing change activities and to help them understand expectations of them as executives and senior leaders during the change period and beyond.

The downloadable slide deck (above) can be used as a basis for creating your messages to senior leaders and executives. The slides helps to explain how change will likely impact the organization and the people plus explaining how leaders can help by being role models and also by actively addressing resistance and other signs of low engagement in those around them.

Use this resource as optional examples to help communicate the specific messages that makes sense for the change management initiative that you may be leading and the meeting participants/audience that you will be facing.

Here are the steps I would suggest you follow:

  1. Be clear on the reasons that your change initiative need to be implemented and how the changes will improve on status quo. (Business case or burning platform)
  2. Did you get executive buy-in from one or more sponsors before your presentation? (Highly recommended – in fact, do not proceed until you have it!)
  3. Consider the presentation you will be doing – who will be there? What do they know and what do you need them to know, understand and do once they leave the presentation?
  4. What impact will the planned changes likely have on the employees at your company and how do you think your targeted audience can help and should act/behave given the change process and desired outcomes?
  5. Review the slides in the resource I am sharing and determine if any of them could help you and support the messages that you would like to communicate to the audience that you will be facing.

Of course these slides are not going to substitute the preparation work you need to do before starting a change initiative, but they may be helpful to use as background or to explain some of the specific change management aspects that may be of particular importance to your audience.

Organizational Strategy Framework


framework final

Setting a strategy for an organization requires a focus on aspects internally and external to your organization. Once you have set your strategic growth targets you would need to look at how you need things to change internally to support those growth targets. You may want to set your signs on improving profitability, increasing organizational effectiveness or moving leadership behaviors closer to your values and vision for the organization.

The resource I am sharing can help you align some of the most important internal aspects with your strategy to improve your chances of successfully executing on the strategy.

Most organizations are able to successfully navigate through the process of setting a strategy. Many organizational leaders find execution and implementation of the strategy the hardest part to achieve. I believe this is mostly because internal aspects that are needed to support the strategy are not always taken into account in the execution plan.

The framework (See download option above) and questions to address in each case help you by acting as a checklist. Reviewing the execution plan, this list will help you consider how to engage, involve, and inform stakeholders in the process. It helps ensure that every aspect of your execution plan reinforces your strategic objectives leading to a better implementation plan.

The areas to ensure alignment are:

  1. Company values and culture
  2. Leadership (behavior and mindset)
  3. Workforce capability
  4. Organization structure
  5. Organization processes
  6. Systems (Automation)
  7. Performance Management and Metrics

The sequence would always be to first select a strategy you would like to pursue with the organization and then use this resource to plan the implementation portion of the activity.

Setting strategies is often an iterative process as changes from inside or outside of companies require an adjustment in approach. Remember to check the impact of further changes on the same checklist (see above) to ensure you maintain the strategy alignment.

HR Function checkup – Feedback from internal customers


In the same way that companies would approach external customers to gather their views on what is going well and what needs improvement (customer satisfaction), the HR function should reach out to its internal customers to find out how satisfied they are with the services and support that they receive. It is true that there are more than one model for HR service delivery, but that does not change the fact that it is wise to gather feedback on the services and support that you do provide given the structure and focus for HR in your company.

The HR function is often guilty of focusing its developmental and improvement efforts exclusively on helping other departments and neglects using those same skills and expertise to improve the HR function as a whole and developing the people who deliver the HR services to others.

HR Function – Feedback Survey

This survey can help you gather the information you need from your internal customers to help you identify specific areas of excellence in HR and also those areas where improvement may be needed. When improvement is needed it will often imply additional training and development of some HR representatives (HRBPs or Generalists) and may also  include communicating the HR vision and goals more clearly within the HR function. Remember to recognize and reward those who were part of delivering excellent services when you review the survey results.

Tips:

  • Add comment fields next to scores if you want to be certain to capture specific comments about the scores.
  • Do be sure to provide survey participants with feedback on the outcome of the survey and the actions that you plan to take as a result of the survey. This motivates participants to continue providing you with valuable feedback in the future.
  • Create an action plan and communicate that clearly within the HR function so that everyone understands which areas you plan to address and how you plan to do that. It may help to set specific metrics around your planned improvements to make it easier to report progress.
  • Regularly update stakeholders – internal to the HR function and those who are internal customers in your company – on the progress of improvement efforts as you implement the post-survey action plan.
  • Remember to celebrate successes (milestones and outcomes achieved) and be prepared to add additional actions to your plan in cases where your improvement efforts are not reaping the results you had planned for.

Having a standard survey which you use ever year gives the opportunity to track the progress in specific questions over time and helps with trend analysis and showing % improvements over time.

Succession Plan Template


succession

Ambitious leaders are always looking for ways to develop talented direct reports who could possibly take over the baton when the leader gets promoted. Planning ahead to make sure that tomorrow’s leaders are developed today is called Succession planning. People retire, people leave their role and, new roles are created during reorganizations and restructuring efforts. All of these scenarios may create the need for someone else to take over in a leadership role and the question becomes… do you have anyone available internally who is promotion-ready?

This is the reason why it is important to keep a track of the key roles you have in your organization and also keep an eye on those who could potentially fill the role should it unexpectedly become vacant.

Continue reading “Succession Plan Template”

Communication Plan


writing plan

Whenever you plan to make changes to a system, a process, a strategy or generally change the environment that people work in you will need to communicate. Specific messages need to be scripted and planned to help communicate the change that is coming, why things are changing and how things are progressing with the change initiatives.

Stakeholders in the change process could have different information needs and messages will need to take that into consideration. Identifying stakeholder groups starts by making a list of the groups of people who would be affected by the change. Think about functions, think about geographic locations, think about management levels, think about people outside your company who may be affected, think about vendors or partner companies.

Communication messages could be intended to explain why things have to change, what is going to change, when and how it is going to change, how the change is going (progress update) and what (if anything) people need to start doing, stop doing or what should change in the way they have acted in the past.

Continue reading “Communication Plan”