Asking people why they’re planning to stay is a far more powerful question than asking why they’re leaving
Asking people why they’re planning to stay is a far more powerful question than asking why they’re leaving. You get valuable data as well as the opportunity to give a powerfully positive message. We want you here.
What would be YOUR reason to stay?
HR can build a strong narrative with this. First, capture the cost of a regrettable leaver. A reasonable estimate for a manager or specialist is >200% salary, ref McKinsey and Gartner – contact me for the research references – they’re persuasive.
Then, calculate the total cost of all your leavers. Big numbers get business leaders’ attention. (This number should be on a company’s P&L, and in business leaders’ bonus targets, but that’s another story).
Next, use whatever data you have – engagement, leaver and stayer – to identify those ‘magic’ ingredients that your employees value.
There will be an investment, no doubt, that’s needed to work on getting more of those ingredients into your mix. They’re not magic, in fact, they’re just sensible, and most will be related to how people are led and managed.
The number you come up with, e.g. for some development for your leaders and managers, will be nowhere near as high as the cost of attrition.
I realise that this probably sounds obvious. However, it isn’t in the natural DNA of HR people to justify actions, causes and their consequences financially.
Enabler HR International have tried and tested approaches that deliver better understanding of how your people connect with and remain fulfilled, whilst driving your business’s success through their whole career – see Employee Research for more information.
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