Employee Retention Checklist

Developing and using an employee retention checklist reduces staff turnover, saves money and leads to business success.

According to "Fortune," the ability to attract and retain talented employees is a reliable predictor of organizational success. In addition, retaining valued employees saves money. Human resources consultant William Bliss estimates that replacing an employee can cost up to 150 percent of the person's annual salary and benefits. Developing and implementing an employee retention checklist saves money and supports business success.

Investigate the Turnover Situation

Before a problem can be resolved, it must be defined to determine its nature and scope. How many employees are leaving? Are employees with specialized skill sets, such as computer engineers, leaving? Are resignations more common in one department than in other areas of the company?

Find out why employees are leaving. Many employers assume that workers leave for better pay and benefits. But employees leave for many reasons and identifying those reasons is the first step to addressing them. Conduct exit interviews or ask resigning employees to complete a questionnaire. Use the investigation results to develop an employee retention plan.

Improve Managers' People Management Skills

Employees leave managers, not organizations, according to authors Marcus Buckingham and Curt Coffman. So helping managers improve their employee management skills is essential to employee retention. Identify managers who are effective at retaining employees and have them provide classes or coaching sessions for other managers. Create a managers' community network where they can ask questions and share ideas.

Facilitate Employee Development

Recognize high-performing employees and give them the opportunity to shine by having them share their knowledge with coworkers. Set up a buddy system in which a new worker is paired with an experienced worker who introduces him to the company and coworkers and teaches the new person the correct work processes. Both employees benefit from this buddy system.

Work with each employee to create an individual development plan. Ask each employee what she likes and dislikes about her job and what she would like to be doing in the organization in two years. Create a realistic development plan with specific action steps and milestones the employee will meet. Monitor progress through regular one-on-one meetings.

Give Employees a Voice

Whenever possible, give employees a voice in decision making. Allow them to determine the best way to complete their work in the context of the overall work flow process. Conduct regular employee attitude and satisfaction surveys, communicate the results and use them to improve the work environment. Set up a grievance process so that employees can resolve problems without leaving the organization.

Apply the Golden Rule

The Golden Rule applies in business. Workers want to be treated fairly with courtesy and respect. They want to know that their managers know and care about them as individuals and not just as assets or full-time equivalents (FTEs). Give workers the tools and training they need to do their jobs. Give managers the information they need when they need it so they can share it with their employees. Meet regularly with employees both as a team and individually. Listen carefully to what they say and respond honestly. Provide constructive feedback regularly, and be open to employee ideas and suggestions.

References

• "Fortune": Winning the War to Keep Top Talent, Stein, N., 2000
• The Advisor: Cost of Employee Turnover, Bliss, W., 2010
• Goliath: Managing Staff Turnover and Retention. 2005
• "First Break All the Rules"; Marcus Buckingham and Curt Coffman; 1999
• Employee Retention Strategies: The Manager's Retention Checklist, 2011
• CIPD: Employee Turnover and Retention, 2010