Creating an effective work force by recruiting the right employees is just the start for business owners/managers. Next, you need to keep them. While this may sound logical, many, if not most, SME’s overlook this important component in their HR strategy.
Having an effective staff engagement and retention plan can help strengthen a team’s motivation and loyalty. Not only will it help a business attract and retain the very best people, the business will also benefit from increased efficiency and a satisfying, preferred work environment.
Conversely, any key staff turnover, costs a business disruption, money, time and productivity.
Businesses need to come to terms with what drives both retention and what it means for an individual employee.
The Career Monitor process has been designed to bridge the gap in a clear and quantifiable way.
WHAT IS THE CAREER MONITOR?
The Career Monitor is an exclusive process used by HRM Strategic Solutions to interview your employees.
Highly impactful, insightful and practical, it is designed from real research on 10,000 employees in businesses since 2008 and includes critical impact questions.
It offers much more than a standard interview, it asks a series of open questions and ratings of the business and of themselves.
Career Monitor Summary Report
Tailored to fit your business, it provides an individual report as a risk and opportunity analysis for an individual employees circumstance.
You and your employee will be armed with specific information to gain a clear perspective on what is impacting the employee at both job and organisational level.
An additional benefit is that you will also identify critical issues with a risk factor rating within 3, 6 and 12-month time frames.
WHY BUSINESSES USE IT
The incentive for businesses to conduct Retention Interviews is high:
It provides clear guidelines on retaining individual employees
It assists employees to own how they can contribute to the business
It provides a report with areas and priorities to work on
It provides an individual's risk rating which can be collated with a total organisational risk rating
WHY EMPLOYEES WANT IT
There are many motivations for an individual to monitor their career. Am I on track with expectations, is my environment helping me to succeed, am I at my best to build my future?
Am I maximising what I know and what I can do? After all there is no better career building activity to do than to do a great job today. Self monitoring is a powerful and non threatening way for employees to own their career.
But what if there are trust issues, either between the manager or the employee?
For these organisations, using the Career Monitor builds trust as it is a consistent, quantifiable method, facilitated by a HRM Strategic Solutions, clearly showing employees that the employer is making an investment in them.
The Career Monitor is a critical component to a Retention Interview. The design enables multiple uses from the one process. Here are just a few:
Pre exit analysis
Key employee retention program
Annual survey as part of a HR Plan
TO FIND OUT MORE ABOUT THE CAREER MONITOR:
For background information on the development of this initiative from the HR Coach Research Institute, see the White Paper: “Business Case for Retention”