OBJECTIVE:

Data Driven Employee Engagement
and Retention Program

Situation
A large regional financial institution was expanding its footprint into new, highly competitive markets where it had little brand recognition. Their successful business model was dependent on the ability to attract and retain talent. With more than 12,000 employees, the organization was experiencing growth pains and turnover was increasing at specific points of employee tenure. The company had invested heavily in employee training, development and assimilation, having established a well regarded “corporate university”. Despite these efforts, turnover continued to increase among valued staff and recruiting was proving challenging in the new markets.

Strategy
Our analysis showed that there was no mechanism to capture the root cause of the turnover among the high-value employee groups and that there were predictable points in their tenure when they were most at risk to depart. In order to capture meaningful data and develop strategies to address the core issues, HResults designed a custom feedback process known as the “Employee Life Cycle Program”. Using a series of custom developed tools to collect both statistical and anecdotal data, we were able to focus on those factors that led to both turnover and lack of engagement in target populations. A unique feature of the process also allowed us to track specific participants throughout their career (new hire follow up, one, three, five year milestones plus exit data).

Internal HR executives were involved in all stages of design and planning. HResults, as an impartial and confidential third party, was chosen to manage the program and collected rich and candid data through a mix of interviews and surveys.

Outcomes
Through the program, data was collected on more than 20 percent of the population annually. Quarterly trend analyses were provided for defined populations and ad hoc reporting was provided on request for any group with more than three program participants.

Through the existing network of HR Managers, specific feedback was provided to line management and strategy sessions were conducted to develop plans of action. The ability to pinpoint specific groups allowed recommendations to be targeted and customized. Remedies ranged from enterprise – wide program redesigns and changes to talent acquisition processes to coaching interventions with specific managers. Measurable reductions in voluntary turnover were realized overall, and most importantly, the organization was able to manage the churn and focus retention efforts on the talent they most wanted to engage.