Request a Call from our Workforce Experts
TACKLING THE PROBLEM
Reduce Leadership & Management Turnover
When critical employees leave your organization, you not only lose valuable talent, but you also may experience a decrease in team morale, damage client relationships, alter succession plans, and create even higher talent turnover. More startling is that studies report that employee turnover among key talent is higher than that of other employees. Most often this turnover is isolated to leadership and management, who are in key positions. However, there are other situations such as healthcare where the key talent is the nursing staff for instance, and reducing turnover there is just as important. The war for talent is real, and employers must take steps to reduce key employee turnover.
How We Reduce Key Talent Turnover
To address and prevent attrition in this part of your population, intentional studies with key talent former and current employees should be conducted to understand this employee group’s preferences, turnover risk and or reasons for leaving. Work Institute’s approach to reducing critical role turnover can include a combination of on-site, live telephonic and web-based interviews with your key talent. Using our Voice of the Employee approach across all data collection methods, we allow these key talent current and former employees’ most pressing issues and likes to be emphasized. The power in the specificity of the data provides a clear picture of what these team members value about the organization and what things should be or could have been addressed to increase the likelihood they would stay with the organization for a longer period. After identifying the specific strengths and opportunities, our workforce experts work with you using the data to inform specific intervention(s) to improve your key talent’s perceptions around crucial areas. Pulse surveys are conducted post-study to ensure the changes are having the desired effects.
The Proof: Retaining Key Talent in Healthcare
Cincinnati Children’s Hospital identified five of their divisions that required more specialized nurses and had higher turnover rates than other parts of the organization. The specificity of Work Institute’s data informed multiple interventions including:
- Building out a nursing career ladder
- Partnering with local university to provide increased tuition assistance
- Strategically removing several poor nurse managers
- Realignment of some personnel to ensure adequate supervision
- Revamped the orientation & onboarding processes
FAQ: Key Talent Turnover
Q1: What is management turnover?
A: Management turnover refers to leaders or managers leaving an organization. High turnover among leadership can disrupt teams, affect morale, and increase costs.
Q2: Why is reducing leadership turnover important?
A: Losing managers and key employees can damage client relationships, hinder succession planning, and contribute to broader workforce attrition.
Q3: How can organizations reduce turnover among key talent?
A: By understanding leaders’ priorities, conducting exit interviews, improving onboarding, offering career development, and implementing targeted engagement strategies.
Q4: What is a key talent retention strategy?
A: Key talent retention strategies include career ladders, tuition assistance, enhanced supervision, and tailored onboarding programs for high-value employees.
Q5: How do you measure success in reducing management turnover?
A: Success can be measured by lower turnover rates, improved employee satisfaction scores, increased engagement, and the retention of critical employees.