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Key Talent Turnover
Tackling The Problem
Reduce Key Talent 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. The war for talent is real and employers must take steps to reduce key employee turnover.
How We Reduce Key Talent Turnover
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.