|
Employee Retention Surveys
Gain Information and Insight for Decreasing Employee Turnover
and Becoming an Employer of Choice
While some employee turnover may be healthy for your organization, excessive employee turnover can be very costly. High employee turnover levels are usually a sign of dissatisfaction with one or more aspects of working for a company, including ineffective management/leadership, inadequate compensation/benefits, lack of development and/or career opportunities, and other contributing factors.
Employee retention surveys can be conducted companywide, or in select business units with high turnover.
The high costs of excessive employee turnover include:
- Recruiting costs of replacement employees
- Training and development costs of replacement employees
- Lower performance/productivity levels of new employees (learning curve costs)
- Negative impact on customers while replacement employees are not yet in place and when new replacement employees are not yet fully trained/proficient
- Negative impact on employees that have to cover for staffing shortfalls due to employee turnover
- Reputation for high employee turnover impacts ability to attract and hire high performing employees
- Company's marketplace reputation is hurt by high employee turnover
Types of Quantisoft Employee Retention Surveys
- Exit interview surveys
- Feedback/opinion surveys of former employees
- Employee satisfaction/engagement surveys with a particular focus on employee retention
Employee Retention Survey Metrics
Employee retention surveys provide a wealth of information and insight regarding why employees are thinking of leaving or are actually leaving your company. Acting on this information and insight, your company can significantly reduce unwanted employee turnover, generating a strong payback on the surveys and bottom line results.
Depending on your industry and the products and services your company sells, employee turnover metrics include these and other criteria driving employee retention:
- Communications effectiveness
- Support/treatment from managers
- Recognition received from management
- Work environment
- Effectiveness of sales performance feedback and mentoring
- Satisfaction with sales compensation and benefits plans
- Satisfaction with career opportunities
- Clear understanding of job
- Job is what was promised when hired
- Clear expectations for job performance
- Availability/effectiveness of training and development
- Company culture
- Empowerment
- Receptivity to employees' ideas
- Satisfaction with the job and company
- Satisfaction with company direction
- Likelihood of staying with the company for the foreseeable future
- Willingness to recommend your company for employment
Benefits of Quantisoft's Employee Retention Surveys
Quantisoft's employee retention surveys generate significant bottom-line benefits and a very strong payback:
- Gain insight for attracting new employees and retaining existing employees
- Reduce costly employee turnover
- Increase "employer of choice" status
- Increase effectiveness of managers
- Improve the recruiting/hiring process
- Avoid hiring employees that are not likely to be successful
- Eliminate obstacles impacting employee performance
- Improve communications with employees
- Identify drivers of employee turnover companywide and by business unit and other demographics -- then make changes based on employee feedback
- For retention surveys of former employees, learn why they left your company and what they like better at their new company
- Gather ideas for running your business more effectively
|