Q: What indicators should Tony Martel put into a dashboard for the CEO? How can this help the turnover problem?
1. Summary
Using Employee attendance, engagement, and satisfaction as indicators with their training and role, we can properly assess the turnover problem.
2. Supporting Argument
The company wants to ensure “long lasting relationships with clients” and cannot do that due to turnover. Turnover for 2015 is 7% hire externally than the year before, with 2016 already at a total of 55.4% and on the way to being over 60% for the following year.
Evaluate trainings – see their effectiveness due to the high investment.
Marianne (HR Management Committee) “We definitely need to find solutions! Money Cash Flow Inc. invests nearly $9 million a year in training. And the data shows that new employees stay for just three or four months on average. Yet the company had invested in bringing all those people on board”
New employees are integrated quickly, with meeting their colleagues on day one, getting their expectations, and presentations on company policies and procedures. Day two they start their formal training that is composed of modules that lasts three weeks. “Due to lack of time and co-operation on the part of operational managers, it is not always easy for agents to fit in all this training.” There are 5 modules, with two being 35 hours, one 21 hours, and the last two each lasting 7 hours.
Check-in with employees on a quarterly basis on engagement and satisfaction (and attendance) to address issues
Reasons for leaving stem around too much work, lack of autonomy, micromanaging, lack of creativity, and finding better opportunities.
3. Supporting Evidence
4. Caveats & Potential Problems
New recruits are not interested in their jobs or their clients, but only in getting promoted quickly; this can be an issue when HR is having difficulty attracting and retaining the desired employee and these indicators won’t make a difference in how this can help the turnover problem when the issue itself stems from the selection hiring process.
Improving their selection process for hiring by specifying their desired employee profile, as their current employee profile is fairly general
36% of employees leave due to stress-related issues; this can be an issue as there are many external factors causing employee stress that these indicators cannot predict and fix. (i.e., marital problems, mental health, financial debt, etc.).
Provide resources and support for an employees’ well-being such as counseling, therapy, and/or financial support programs to reduce external stress.
These indicators are not backed by studies on its effectiveness to determine potential turnover; could be costly to use these indicators as ways to improve turnover problem when it has not been tested for credibility that these indicators relate to the turnover problems at all
Run validity test to make sure there is correlation between indicators and turnover
5. Assessment Plan
