Key Talent Turnover
Tackling The Problem
Reduce Key Talent Turnover
When a critical role (key talent) employee of your organization leaves, you not only lose valuable talent, but you also may experience a decrease in team morale, damage to client relationships, altered succession plans, and even more turnover. More startling is that studies report the turnover among key talent employees is higher than that of other employees. The tight conditions around the labor market are exaggerated further with when you’re looking for high capacity individuals for specialized roles within your organization.
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
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
These efforts reduced turnover between 11% and 34% across the included departments.