Key Talent Turnover
Tackling The Problem
Preventing Key Talent Turnover
When a high performing member 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 high potential (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 Help
To address or prevent attrition in this part of your population, intentional studies should be conducted to understand this employee group’s preferences as well as turnover risk. Work Institute’s approach to reducing key talent 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 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 addressed to increase the likelihood that they would stay with the organization for a longer period.
After identifying the specific strengths and opportunities our workforce experts will work with you to use the data to inform specific interventions 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.