Situation: A CEO is concerned about employee turnover, particularly among promising younger employees. He doesn’t know whether these employees are different from past employees, or whether it is a function of the current economy and recovery. They look like a good fit during interviews and appear to fit well with the company when they come onboard. Yet, after a few weeks or months they leave. How do you hire and retain the right people?

Advice from the CEOs:

• Ask other companies in your area whether they are experiencing the same phenomena, and what they are doing about this. Are their experiences similar? Why do they think this is happening? Have they developed successful strategies to stem the resignations?
• Conduct follow-up interviews 3 months after the employees leave. Use an independent party – or at least a neutral party within the company – to conduct the post-departure interview. While there may be a variety of reasons why individuals leave, are there similar themes in their motivations?
• Are employees being treated similarly to the way that Margery Mayer and others have discussed treating customers – are they being heard?
  • Ask and listen to their true motivations – perhaps they value the opportunity to take an extended vacation for a life experience more than they value a raise. Intel and other companies offer their employees an extended sabbatical after a certain number of years of service. The employee does with this time what he or she wants.
• Host informal beer and pizza sessions with employee groups. Keep the mood relaxed. Let them open up and complain if they so wish. It’s far better to let them air these feelings with the CEO than as buzz within the office – particularly if the see that they are being heard.
  • It is important to follow up and respond to what is heard. Employees appreciate the opportunity to be open and honest, but only if they sense that their input is producing the changes that they desire.

[like]