USING BIG AND LITTLE DATA TO RECRUIT THE RIGHT CANDIDATE FOR

EVERY POSITION

IQPC Workshop - September 16, 2013

© Dr John Sullivan

1www.drjohnsullivan.com or Johns@sfsu.edu

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Dr Sullivan’s background

• Fast Company Magazine called me… the “Michael Jordan of Recruiting”

• Staffing.org once called me… “The father of HR Metrics”

• A VP of HR recently called me… “The Darth Vader of HR”

Take your pick!

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Topics for today

1. A shortcut to sourcing and hiring quality prospects2. A quick introduction to the current state of metrics3. Some basic definitions and goals 4. Selecting the right metrics5. Benchmark firms6. My recommended recruiting function metrics7. The best data-driven processes for improving

recruiting8. The future direction of recruiting9. If time permits… some data-driven retention tips

Please feel free to interrupt at any time with questions or

comments

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“Using data to find the right candidate for every position” means… focusing on referrals

and boomerangs

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Shortcut – Let’s cut to the chase…

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What source is #1 in volume and new hire quality

Source effectiveness /quality of hire

1. Employee referrals

2. Large job boards

3. Niche job boards

4. Temp to perm

5. Recruiters

6. Trade media

7. Staffing services

8. College recruiting

9. Career fairs

10. Co-op education

11. Mass media

12. Military

Source: staffing.org 2011

Source popularity Volume

1. Referrals 28.0%

2. Job boards 20.1%

3. Career site 9.8%

4. Recruiter initiated 9.1%

5. College 6.6%

6. Rehires 4.3%

7. Social media 3.5%

8. 3rd party 2.8%

9. Print 2.2%

10. Temp to hire 2.1%

11. Career fairs 1.9%

12. Walk-ins 0.8%

Source: CareerXroads 2012

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Use referrals to get 50% of your hires

The best firms are now reaching 50% of all hires Referral applicants are high quality - they found

referrals were 39% of applicants but 61% of all hires (Jobvite)

Top performers make the best referrals Refer “for the team”… not the $ Make sure the employee has seen their work Make sure their work and skills are superior ID “who beats you” and “who you learn from”

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Lesser known “quality of hire” sources

Other “quality of hire sources

1. Top performer referrals2. Boomerang re-hires3. Professional event recruiting4. Award winners5. Contest winners 6. Grad assistants7. Successful interns

Source: DJS

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Use boomerang re-hires to get 16% of your hires

At DaVita boomerangs are 16% of all hires and at Yahoo they are up to 14%

Boomerangs are a known quantity

Begin the relationship during off-boarding”

Use an alumni group to continue the relationship

Boomerang re-hires

“You’re always welcome here” e-card + alumni group

With referrals and boomerangs making up 2/3 of your hires…

Now let’s see how data can help you find the remaining 1/3

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Why today a good time to finally conquer analytics and big data

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Part 1

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What % of CEO’s are confident in HR metrics?

Only 12% of CEO’s are confident on the quality of Human Capital metrics

13AICPA survey 2012

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What is HR best at? Worst at? (KPMG)

BTW - How do you know for sure that your function is having a major business impact!

If your function is directly impacting the business…

it will be written up in the annual report

How often does your recruiting function appear? 15

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Why today is an ideal time to act on analytics

Opinions and past experience don’t change behavior, metrics are required if you expect to be “listened to” while sitting in your “seat at the table”

We live in a VUCA world that is difficult to understand without metrics

“Big data” and data / evidence based decision making are all the rage with executives

Firms like Google have already demonstrated what can be done in HR

Other industries (Moneyball) and functions have already developed an analytics model that HR can follow

New technologies and research are available >

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This recent HBR report quantified the importance of HR metrics

Connecting Workforce Analytics

to Better Business Results 2013

The study can be accessed at:

www.sumtotal.com http://talent.sumtotalsystems.com/WebRes-Connecting-Workforce-Analytics-HBRReport_0813.html?source=SEARCH_WP_TM_HBRReport_0813&pi=TM%20-% 20Complete%20TM

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HBR data supports the connection between using analytics and workforce effectiveness

Among firms that report a moderate or a high degree of success in creating a productive workforce

95% are advanced analytics users

80% are moderate analytics users

Only 5% of advanced analytic users report that

they are ineffective in leveraging their workforce

Source: Connecting Workforce Analytics to Better Business Results by HBR 2013

Introduction

Let’s make sure we are all on the same page… with some

definitions and goals

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Part 2

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A few quick definitions…

so that we are all on the same page

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Some quick simplified definitions

1.Metrics – the process of measuring and reporting a result or output

2.Historical metrics – measures that focus on reporting things that have already occurred

3.Workforce Analytics – a set of integrated capabilities (technologies, metrics, data and pro cesses) to measure, analyze, identify trends and to improve workforce performance

4.Real-time metrics – reporting or monitoring metrics that cover what is happening now in order to improve current decisions

5.Predictive metrics – using past and current data to forecast and model upcoming problems/opportunities

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Some quick simplified definitions

6. A scorecard – results listed on a 1 sheet (Balanced)

7. A dashboard – an array of metrics, that in a single view, covers all of the key functional measures

8. “Why” metrics – a process for identifying why things happen in Talent Management

9. Showing revenue impact – converting standard HR metrics to their dollar impact on revenue

10. An algorithm – a formula /equation that accurately directs talent actions (who to hire?)

11. Index – a combination of metrics converted to a single number for ease of comparison (i.e. Dow Jones)

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Some quick simplified definitions

12.Business Intelligence (BI) – information for improving business decisions

13.Big data in recruiting – huge, changing and complex data sets that… can’t be easily analyzed using traditional software (Recruiting Big Data – Sales leads/ credit, LinkedIn, Facebook, Professional association or website membership lists, DOL labor supply reports etc.)

What are the 6 primary goals or purposes of metrics?

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Reports or opinions do not change behavior

1. They drive action – metrics influence managers and employees so that they change their behavior

An example - how Google uses data to influence “All people decisions at Google are based on data

and analytics” “Even when people don’t want to believe that

they’re underperforming, it’s hard to dispute years' worth of numbers”

“For most people, just knowing that information causes them to change their conduct” >

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What are the 6 primary goals for metrics?

2. Improved decisions – metrics improve the

accuracy and the $ impact of the talent decisions

made by managers / HR in “fact driven HR”

3. They tell you “what is working” – metrics tell

you what is working, what is not working and

why for continuous improvement purposes

4. Increased funding and executive support –

metrics cause executives to better fund HR

because metrics reveal the business impact it has

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The 6 primary goals of metrics

5. They prepare you for the future – metrics reveal

trends and they can alert you on upcoming

problems / opportunities so that you can act in

time

6. They help you better allocate resources –

metrics tell leaders which programs produce the

highest value, so that they can shift resources

towards the areas with the highest ROI

An effective HR function identifies and focuses its resources on activities that increase profit (BCG)

28Source: BCG/WFPMA - From Capability to Profitability: Realizing the Value of People Management, 2012

Which TM functions have the highest impact on profit?

Mid and lower impact HR functions

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How to select high impact metrics

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Part 3

How many metrics do you need?

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You need metrics in each of these 4 areas

1.One for every major program goal – Ex. new hire on-the-job performance and retention rate

2.One for every major improvement area – Ex. increase the diversity rate, cut offer rejects etc.

3.One for every major executive budgeting decision criteria – ID and gather information to meet each of the executive funding criteria

4.Data for assessing process ROI - use data to calculate the ROI and then shift resources to the recruiting processes with the highest ROI

What does a great strategic metric looked like?

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There are 6 categories that should be covered in the metrics for assessing an entire HR program

1.Quantity (Volume) Number hired

2.Quality (Error rate) Performance on the

job

3.Time (On time or the time to complete) Time to fill

4.Money (Cost or revenue generated) Cost per hire ($9k)

5.Satisfaction (Of the users) Hiring mgr.

satisfaction

6.Comparison number Aver. CPH is $4k

QQTMSC Recruiting example

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What does a strategic action metric looked like?

There are 2 basic categories of action metrics“So what metrics” – when you see them you think

either “so what” or “that’s interesting” but you take no action (The average new hire had a GPA of 2.8)

“OMG” metrics – the topic causes you to read them and seeing significant variations up or down causes you to take immediate action (i.e. because of it’s $ impact on corporate revenue) An example >

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A simple OMG recruiting metric

This year there were 210 position vacancy days in loan officer positions at this Midwestern bank

Last year they had only 110 vacancy days, before the CFO cut the recruiting staff by 20% (The root

cause)

$5000 is the lost revenue for each day that a loan officer position is vacant

Rev impact – $500,000 loss per year if we take no action ($5,000 loss per day X 100 additional excess vacancy day)

The savings from the 20% recruiter cut was only $200,000 (a minimum $300,000 net loss)OMG!

One final strategic action metric example for advanced users

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The very best strategic OMG action metrics include these 10 elements?

1. It shows its impact on corporate goals (revenue)2. It quantifies that goal impact in dollars3. It is reported where it will be seen by executives4. It shows the “near future” trend line5. It includes several comparison numbers (last

year’s, the average and the best in the firm, the average and the best in the industry)

6. It includes “real-time” current data7. It identifies the root cause of the problem8. Highlights the effective actions & their success rate9. It includes the cost of doing nothing or delaying10.It drives immediate action

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An example of an OMG metric display

HR metric – Time to fill (TTF)

This months' TTF = 90 daysProjected TTF = 112 days (Up 22%)

Last year’s TTF = 78 days TTF Trend (Up 22%)

Best in the industry = 29 days (We are 61 days behind)

Cause – Mgr.'s workload is slowing interview schedulingAction required – Cut interview delays with after hour video interviews – minimal cost and a 87% success rate

Accountable individual – Pam Tyne, staffing manager

Rev. impact of no action

- $4.1 million Corp goal: Time to Market

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Provide “drop-down” menus for detailed information

Provide instant access to “in depth” information Time to fill (up 22 %)

• Consequences of slow TTF• Reasons for slow TTF• TTF data for your unit• Definition of TTF• Formula for time to fill• Which jobs take the longest • More recommended actions

Drop-down menu

Run your cursor over the metricand you see this drop-down menu

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How do I decide

which metrics to use?

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Let the CFO be your champion

Don’t select your HR metrics in isolation… instead… let the “king of metrics” guide you

1.Work with the CFOs / COO office to determine

what they consider to be strategic metrics

2.Let the CFO / COO select the final ones (3x5

cards)

3.Also consider letting the CFO present/ report

your metrics

An illustration >42

The smartest thing I ever did in HR…

“I hired the assistant comptroller to do my HR metrics”

I had zero funding arguments after that because:

1. They were credible because the CFO and others

trusted who did them

2. The metrics used the language and the format

that the senior leadership could understand

3. They included no “soft” metrics or language43

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Who are the benchmark firms to learn from?

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Who are the benchmark firms to learn from?

Benchmark firms for recruiting metrics

1. Google

2. DaVita

3. Sodexho

4. Deloitte

5. CACI

6. Marriott

7. Tata

A Google example >

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Example The “data driven” approach at Google

Algorithm (Google oxygen) to define leader

behaviors, to identify leaders and to fix bad ones

Algorithm for predicting who will leave /retention

Algorithm for predicting hiring success and what

doesn’t work

Algorithm for increasing interaction,

collaboration and innovation (length of the cafe

line)

Algorithm to increase hiring, promotion and

retention of women

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The best benchmark comparison data sources

Staffing.org - this group narrowly focuses on recruiting http://www.staffing.org/productsandservices.asp

PWC - Saratoga - this arm of the consulting firm have been doing benchmark metrics (including recruiting) for years http://www.cfodirect.pwc.com/CFODirectWeb/Controller.jpf;jsessionid=L0GbF5LXMM72QtvnF7W72n2nD21WnGzx8T

NxbGGjByJh9Xz05Dxd!-552653960?ContentCode=MSRA-7XXJQD&ContentType=Content

The Recruiting Roundtable -- this members only group includes some of the largest corporations, it specializes in sharing recruiting best practiceshttps://rr.executiveboard.com/Public/PDF/Driving_Business_Decisision_with_Metrics.pdf BNA - this publishing firm has been doing a broad HR benchmarking survey for years http

://www.bna.com/special/hrpromo/?gclid=CJPHiYeo658CFSEbawod8iHUcQ

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Other good comparison data sources in recruiting

CareerXroads - they rank both sourcing channel usage and the leading corporate websites www.careerxroads.com Best Practices, LLC - focused on the pharmaceutical, biotech, medical device and health care industries http://www3.best-in-class.com/bestp/domrep.nsf/pages/96DEB3761738BDE485257026006CD495!OpenDocument

NACE - this association focuses on college recruiting http://www.naceweb.org/Research/Recruiters/2009_Recruiting_Benchmarks_Survey.aspx

The Hackett Group - this consulting group does a lot of work with government agencies http://www.thehackettgroup.com.au/solutions/benchmarking.jsp

APQC - this benchmarking group periodically does some private benchmarking studies with top companies www.apqc.org

CLC - this membership group does periodic "gold books" covering HR best practices and benchmark firms http://recruiting.hr.toolbox.com/research/

My 14 recommended strategic metrics for recruiting

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Part 4

A list of metrics to choose from

Strategic recruiting goals and their metrics

Note: Strategic metrics cover the functional actions and programs that have a measurable impact on

corporate goals

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9 revenue impact recruiting measures

1. The total dollar impact of great recruiting on the business this year – this number is the sum of the $ results from the following 8 rev. metrics

2. Performance of the hire – the % of improvement over average on the job performance ratings (or performance appraisal) after 6/12 mths. (Value - % of improvement multiplied by the average revenue per employee)

C-Level executives rated new hire quality as the #1 most important HR performance metric, out of 20 metrics Source: Staffing.org - Impress the CEO survey

This metric also reveals the best source and assessment approach

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Revenue impact recruiting measures

3.New hire failure rate – % of new hires in key jobs had to be terminated or asked to leave (Cost – the # of bad hires multiplied by times the cost of a bad hire – 1X salary)

4.Voluntary turnover of new hires - the % of new hires that voluntarily quit within their 1st year (Cost - the # of voluntary turns multiplied by the replacement costs and the lost revenue until they are replaced)

5.The number of “vacancy days” – after a position is vacated, the number of vacant days in key and revenue-generating positions (Cost – the average revenue

generated each day multiplied by the number of vacant days)

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Revenue impact recruiting measures

6. Number of not-filled positions – the number of key positions that were not filled by recruiting (Cost – the number of not filled days multiplied by the average revenue per employee per day)

7. The number of positions not filled by “need date” – the number of days after the “need by date” that key positions were filled (Cost – the number of vacant days after the need date multiplied by the average revenue per employee per day)

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Revenue impact recruiting measures

8. New hire “time to productivity” TTP – because quality hires are productive almost immediately, the average time it takes for new hires to meet the minimum output standard (Value – the average reduction in days that it takes to reach minimum productivity multiplied by the revenue per employee per day)

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Revenue impact recruiting measures

9. Project delays and missed strategic opportunities as a result of weak recruiting - because on time project completion has a direct impact on revenue, the loss must be estimated (Cost: this “project delay metric” is calculated by surveying project managers on a quarterly basis to identify if any projects have been negatively impacted by weak recruiting and the cost of those delays)

The cost of missed opportunities should also be included

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5 quality of hire recruiting measures

10.High level diversity hires – because diversity reduces errors and increases innovation, the % of diverse hires in exempt an executive level positions

Plus these: On-the-job performance of new hires Voluntary turnover rate New hire failure rate Time to productivity

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2 competitive advantage recruiting metrics

11. Give away/ take away ratio - the # of employees in key jobs that we “poach” from a competitor firm… compared to the number that they “poach” from us

12. Employment brand strength – a strong external employer brand results in a larger number of applicants, so track the number of applications received each year (Google 2 mil, Yahoo 600k), track the % of improvement or compare it to last year’s total or to the number that top competitors receive

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2 additional strategic recruiting metrics

13.Percentage of innovators and game changers hired - if your goal is to hire more innovators and purple squirrels, survey hiring managers 6 months after a hire and ask them whether the work of this individual qualifies them as an innovator

14.Manager & new hire satisfaction survey – the % of key managers, new hires in key jobs and applicants that are satisfied with the hiring process

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Tactical metrics that should be calculated but… not reported to executives

Note: Tactical metrics are for internal functional use for continuous improvement and resource allocation

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High impact tactical recruiting metrics

1. % of new hires from quality sources – because using quality sources results in better quality hires… track the % of applicants for key jobs that came from top sources (usually employee referrals and boomerang rehires)

2. The quality of those not-hired – because a great hiring process doesn’t “miss” hiring top applicants, measure the % of superstar applicants that were not hired, and the # of “exceeds qualifications” that were “not hired” from target firms

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Lower impact tactical metrics

These other tactical recruiting metrics are good for identifying efficiency and effectiveness problems

1. Offer acceptance rates

2. Interview to hire rates

3. Quality of applicants

4. Recruiter req. loads

5. Time to fill (vs. filled by need date)

6. Cost per hire

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For advanced users…

Let’s look at some predictive recruiting metrics

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Predictive recruiting metrics

Predictive metrics to consider Upcoming internal hiring needs – what new skills

will be needed and in which jobs and regionsLabor market competition - will there be a

surplus or shortage of labor in key jobs and regions, which will change the difficulty of hiring top talent (the unemployment rate)

Competitor hiring – which talent competitor firms will be hiring, and in what positions, which firms are likely to be losing top talent for us to recruit? >

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Predictive recruiting metrics

Predictive metrics to consider Changing candidate expectations – what will be

the changing expectations of our target candidatesOur future employer brand image – will it be

getting better or worse relative to our competitorsIndividual talent availability – what exceptional

individuals will likely become available as a “talent opportunity”

Acqui-hiring possibilities – which “high talent” small firms will be available for purchase or merger

Data-driven processes for recruiting top candidates

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Part 5

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What is the best data-driven process for finding and selling top candidates?

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Conduct market research on how they look

Step #1 – Understand their job search process You must accurately understand how top

candidates look for a job today! Identify the most common approaches… by

interviewing new hires during onboarding and asking them to outline how they went about their job search

Realized that active job seekers use a different search approach than “not-looking” prospects

Obviously your recruiting approach must “match” their job search process

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Conduct market research… on what they want

Step #2 - You must precisely know what candidates care about in a firm… and a job You can’t assume that you know, instead you

must use market research surveys (among your own employees and applicants) to compile a list of the factors that top candidates demand in a firm (i.e. a great product)

Also identify what they look for in a great job (i.e. a great manager)

Put information covering these firm and job factors in your branding messages and in your job postings

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Conduct market research on where they read

Step #3 – Where would they read about your firm Before prospects can become interested in a job,

they have to read / hear information that attracts them to the firm

So, unless your firm is extremely well-known, you must 1st understand where potential prospects would see, read and hear information about your firm (including general recruiting and employer branding messages as well as product information)

Use surveys of new hires or hold focus groups at professional meetings to identify those places where prospects would read company information

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Conduct market research on where they would see a job posting

Step #4 – Where they would see a job posting Survey applicants, new hires and current

employees to identify the specific places where active candidates would most likely see one of your job posting (Niche job boards, Monster etc.)

Step #5 - How could they hear about an opening? Because most “not-looking” prospects don’t

frequently visit job posting sites, you may learn that prospects find out about job openings through their social network or employee contact as a result of your employee referral program

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Once individuals are called in for an interview…

Step #6 – You must identify interviewee’s “job acceptance criteria” You can’t successfully “sell” a candidate during

the interview process unless you know their personal criteria for accepting a job

You should also identify “dealbreaker” issues Either ask them to fill out a simple sheet or ask

them directly during their 1st interview You want to make sure that they realize that your

firm and job meets most of their criteria by providing them with relevant information throughout the interview and offer process

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Step #7 - Survey new hires to find the best sources

Identify the high impact sources during onboarding

1. Tell us the primary source that made you aware of our firm. Was there a secondary source?

2. Tell us the primary source that made you aware that we had this job open. Was there a secondary source?

3. What was the final trigger that convinced you to formally apply?

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Step #8 - Survey new hires to find out what worked

Identify “what worked” during onboarding1. List the key selling points you heard during the

interview process that convinced you to say yes?2. List the factors that made you less sure about

saying yes?3. What parts of the recruiting process worked best

for you and why? What were the worst parts and why?

4. If you could change one thing about the recruiting process, what would it be?

5. Tell us why you quit your last 2 jobs (For retention use)

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Data can reveal the failure points in your

entire recruiting funnel

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Look at the number and quality of candidates that make it through each hiring step

Branding provides sufficient name recognition

Sourcing attracts the right number of applications

The recruiter resume screen leaves quality prospects

Managers approve the candidate slates

Finalists are selected

% of offers accepted

Goal 45% know firm Actual 47% know

Goal 1,000 apps a wk.Actual 1,200

Goal 38% passActual 40.4% quality apps.

Goal 75% approval &33% are diverseActual 23% / 3% women

Goal finalists are selected 90% of the time & 30% are diverseActual 30% / 1% diverse

Goal 85% accepted / 30% womenActual 85% / 1% women

The future direction of recruiting metrics

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Part 6

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Highlighting the future direction of HR metrics

Metric leaders must move in this direction

1. HR must adopt a data based decision model which follows the approach already taken by every other major business function… as well as sports (Moneyball) and the film industry

2. Link people management actions to business results and quantify their revenue impacts

3. Calculate the ROI for HR programs

4. Calculate the cost of delay and doing nothing

5. Provide fewer but more impactful metrics

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Highlighting the future direction of HR metrics

HR must move in this direction

6. Shift away from “ last year” metrics

7. Shift to real-time data for managers so that they can make better people management decisions

8. Move towards predictive analytics for alerts, if-then scenarios and modeling

9. Provide a range of workable solutions to the problems that metrics identify

10.Tie your metrics to rewards

11.HR must learn to hire those with analytics skills

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HR must move in this direction

12. Provide internal & external comparison numbers13. Do “why” research to identify the causes of

problems14. HR must embed its metrics in standard financial

reports to increase their visibility15. Calculate the performance differential between

top and average performers in the same job, to justify focusing on top performers (5% - 26%)

16. Small business must adopt them because of lean budgets and small size magnifies the impact… And government needs them because of increased scrutiny

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End of recruiting metrics

Any additional questions?

A data-driven approach to retention

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Part 6

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Retention is the #1 problem over the next 10 years

A SHRM/economist survey showed that execs care about retention

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A data-driven approach to retention

7 key retention principles to remember1. Most retention processes are not data-driven2. Companywide retention actions that equally

impact all employees have a low success rate / ROI3. Prioritize jobs and key employees because you

can’t (and don’t want to) keep everyone4. It takes a “career impact event” to trigger leaving5. Everyone has a unique set of reasons for leaving,

so you need a personalized retention plan6. The #1 reason for leaving is generally under their

manager’s control

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Retention must be a data-driven approach

Identify “why” employees have left

1.Identify general causes of turnover – develop a process for identifying the general causes of turnover in the past (summarizing all exit interviews)

2.Identify the turnover causes for key individuals that left – develop a process for accurately identifying the specific causes why a targeted individual actually left (use post-exit interview with the ex-employee or “buy” offer letters)

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Data-driven retention

Identify “why” individual current employees might leave “Why do you stay?” interviews, also ask “What

factors would cause you to begin consider leaving?”

Why did you quit your last 2 jobs? (Ask during onboarding)

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Data-driven retention

Identifying “who” is at risk of leaving?

Develop a process for identifying “who” (which individual employees) are most likely to leaveThe process might include external approaches:A search of the web for resumes Blind recruiter calls… to see who respondsA dry search by a headhunter to see who is desirable

Run blind ads to identify who is applyingSuddenly speaking at conferencesThey extensively update their LinkedIn profile

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Google identify these precursor factors

Google uses an algorithm to spot internal patterns Employee reviews Promotion history Pay history Employee surveys Peer reviews (360 degree) Employee training Leadership meetings

They look for employees who “feel underused”

The retention actions of firms usually don’t match the reasons why employees leave

Why employees leave

1.Better comp/benefits $2.Coaching programs 3.Mentoring programs 4.Tuition reimbursement $ 5.Stock options $6.Profit-sharing $7.Flexible hrs./schedule8.Retention bonuses $Only 2 of 6 causes are met

Most common offerings

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1.Career advancement2.Pay/benefits $ 3.Lack of job fit4.Management/environ5.Flexible scheduling6.Job security

1 of 6 is $

Sources: Gallup 2006 Sources: OI Partners 2012

Top performers stay for different reasons

An average worker wants these things… (Homer Simpson)

1. Doing the best work of your life

2. Proud of their impact

3. Great managers

4. Opp. to innovate/ take risks

5. Learn rapidly / be challenged

6. Choice of projects

7. Make decisions

8. Implement ideas

9. Input into schedule/ location

10.Work with top co-workers

Top performers want “well managed” factors… (LeBron/ Messi)

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1. Guaranteed pay

2. Exceptional benefits

3. Security

4. Time off with pay

5. No surprises/ predictable

6. Seniority matters

7. Equal treatment

8. Minimize risk and stress

9. Work/ Life balance

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Retention metrics

High business impact retention metrics

1. The cost of turnover

2. The forecasted turnover rate for next year

3. The % of employees that are “at risk” of leaving

4. Performance turnover (Top performers count more)

5. Regrettable turnover

6. High revenue impact turnover

7. Key position turnover

8. Key individual turnover

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Retention metrics

High business impact measures to consider

9. Where the turnover goes

10.Hard to replace turnover

11.Preventable turnover

12.Involuntary turnover

13.Innovator, a game changer and pioneer turnover

Present this list to senior executives and ask which ones they consider the most important to report

JohnS@sfsu.edu 93

Did I make you think?