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Webinar - 5 Keys for Retaining Top Talent

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A good start to improving the right kind of retention is to make sure you’re paying fairly and competitively to the market. In fact, research shows a link between fair and transparent pay practices, lower intent to leave, and overall greater job satisfaction.

Attend this webinar and learn:

-How compensation impacts retention
-The 3 truths about turnover
-The 5 keys to retaining top employees

Publicado en: Reclutamiento y RR. HH.
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Webinar - 5 Keys for Retaining Top Talent

  1. 1. bamboohr.com payscale.com 5 Keys to Retain Top Talent
  2. 2. bamboohr.com payscale.com 5 Keys to Retain Top Talent Ivan Hurtt Strategic HR Evangelist BambooHR Mykkah Herner Modern Compensation Evangelist PayScale
  3. 3. bamboohr.com payscale.com 5 Keys to Retain Top Talent Turnover & Retention Two Sides of a Coin
  4. 4. bamboohr.com payscale.com 5 Keys to Retain Top Talent Turnover The rate at which people leave your organization Retention Encouraging people to stay at your organization
  5. 5. bamboohr.com payscale.com 5 Keys to Retain Top Talent Retention Concerns
  6. 6. bamboohr.com payscale.com 5 Keys to Retain Top Talent Greater Awareness of Market Oct unemployment for college educated 25+ 2.5 % Pay boost commanded by premium skills like Scala 29 % Of employees who feel underpaid intend to leave 60 %
  7. 7. bamboohr.com payscale.com 5 Keys to Retain Top Talent Turnover Truths
  8. 8. bamboohr.com payscale.com 5 Keys to Retain Top Talent Measuring Turnover Matters Rate of Turnover = X 100 number of separations in the period average number of employees in the period
  9. 9. bamboohr.com payscale.com 5 Keys to Retain Top Talent Turnover is Not Always Bad
  10. 10. bamboohr.com payscale.com 5 Keys to Retain Top Talent Low Turnover is Not Always Good
  11. 11. bamboohr.com payscale.com 5 Keys to Retain Top Talent 5 Keys for Retaining Employees
  12. 12. bamboohr.com payscale.com 5 Keys to Retain Top Talent 1. Pay Fairly • Performance • Results • Experience • Skills • Education Differentiate* Pay *Be aware of legal restrictions
  13. 13. bamboohr.com payscale.com 5 Keys to Retain Top Talent 2. Invite Flexibility
  14. 14. bamboohr.com payscale.com 5 Keys to Retain Top Talent 3. Encourage Respect
  15. 15. bamboohr.com payscale.com 5 Keys to Retain Top Talent 4. Offer Interesting Work
  16. 16. bamboohr.com payscale.com 5 Keys to Retain Top Talent 5. Inspire Autonomy The Freedom Scale 1. Act on own; routine reporting only 2. Act, but advise at once 3. Recommend, then take resulting action 4. Ask what to do 5. Wait until told 5. 4. 3. 2. 1. adapted by Kirsi Hall from Bill Onken
  17. 17. bamboohr.com payscale.com 5 Keys to Retain Top Talent Retention Recommendations
  18. 18. bamboohr.com payscale.com 5 Keys to Retain Top Talent Develop a Comp Strategy Talent Market(s) Industry, Size, Location Competition How aggressively to pay Reward Performance Experience Skills
  19. 19. bamboohr.com payscale.com 5 Keys to Retain Top Talent Get the Facts
  20. 20. bamboohr.com payscale.com 5 Keys to Retain Top Talent Start Talking I found this report on the internet and it says I should be paid more…
  21. 21. bamboohr.com payscale.com 5 Keys to Retain Top Talent Things to Do Today • Calculate your turnover rate • Identify places with good and bad turnover in your organization • Brainstorm retention efforts that work • Shop your ideas with leaders and employees • Evaluate your comp plan – does it reinforce the right organizational messages?
  22. 22. bamboohr.com payscale.com 5 Keys to Retain Top Talent Follow BambooHR and PayScale on social media: bamboohr.com/blog payscale.com/compensation-today Thank you!
  23. 23. bamboohr.com payscale.com 5 Keys to Retain Top Talent Receive a free job posting on BambooHR’s ATS and full HRIS for one week. We will contact everyone within a few days to set this up. Questions? Receive the related eBook from PayScale 5 Keys to Retaining Top Employees: Solving Turnover Challenges. We will contact everyone within a few days to share the eBook.

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