How to Find and Keep Good Employees

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How to Find and Keep Good Employees
Unger Associatesdunger1019_at_aol.com
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Agenda

• Discuss importance of finding and keeping good
  employees
  
• Explore potential sources of labor
• Provide tools or checklists to assist you
• Brainstorm incentives for retaining employees

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Employee Strategy

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Employee Turnover Costs

• Normally represents 2.5 times annual salary
• the Academy of Management Executives,
• 1998 Volume 12, No. 1

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Employee Turnover Costs

• Direct
• Advertising
• Labor
• Training
• Severance

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Employee Turnover Costs

• Indirect
• Quality of Customer Service
• Quality of Work
• Lost Productivity
• Learning Curve

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• How to Find Good Employees

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The Hiring Survival Checklist

• Have you defined who makes a good employee?
• How familiar are you with selection laws and
  hiring procedures?
  
• How much does it cost to hire someone new?

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The Hiring Survival Checklist

• How much does it cost to replace an employee?
• Do you develop or refine vacant job
  descriptions?
  
• Do you consider the versatility of candidates?

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The Hiring Survival Checklist

• Are you promoting your business?
• Have you analyzed the sources of your
  applicants?
  
• Have you discovered your competitors secrets of
  hiring?
  

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Recruiting Plan

• Considerations
• What are the benefits of using the same / similar
  advertising?
  
• What is the expected turnover?
• Who are your applicant pools?
• Whats the best approach to use?
• What is the timeline to fill the vacancy?
• What will the recruiting cost?

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Budgeting for Recruiting

• Average cost to hire a professional - 5,000
• Average cost to hire trades / unskilled worker -
  700
  
• Advertising, recruiting firms, etc.

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What are Some Sources of Labor?

• Senior Workers
• Individuals Returning to Workforce
• Retired or Exiting Military
• Individuals with Disabilities

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• How to Keep Good
• Employees

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Why Do Employees Leave?

• Career Opportunities
• Job Fit

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Why Do Employees Leave?
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How to Develop and Retain Employees

• In your table group
• Brainstorm creative incentives and techniques to
  keep employees.
  
• Write your ideas on post-its (one per post-it)
• Place post-its on wall chart
• Select a person from your table group to share 2
  3 ideas with everyone.
  
• Time 5 minutes

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Orientation Program
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Effective Orientation Program

• What is the purpose?
• What are the benefits?

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New Employees Length of Time to Achieve
Productivity

• Clerical 6 - 8 weeks
• Professionals 16 - 20 weeks
• Executives 26 weeks
• (2003 Survey Mellon Learning Curve Research
  Survey)

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Orientation Program

• Owner/Manager/Supervisor Checklist
• Provide new employee general information and
  complete paper work
  
• Familiarize new employee with benefits and
  compensation
  
• Provide an introduction to company / business /
  job and conduct a tour
  
• Provide a buddy, mentor or coach
• Provide training

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Orientation Program

• New Employee Checklist
• Review employee handbook
• Work with a buddy or mentor
• Review key policies and general administrative
  procedures
  
• Attend building/office tour
• Review job information
• Become familiar with your job area and equipment

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• Far and away, the best prize that life offers is
  a chance to work hard at work worth doing.
  
• --- Theodore Roosevelt