6 retention strategies to hold onto experienced employees
Through analysis of over 40,000 employee survey responses we uncovered what makes people stay, along with 6 strategies to improve employee retention.
Learn how to encourage your people to thrive…
and stick around.
Now more than ever, employee onboarding surveys and exit interviews are crucial to help address the causes of employee turnover and promote staff retention.
Did you know that over 40% of the global workforce is considering leaving their employer this year? And that employee’s confidence in getting an equal or better position has increased by 14%!
However, it’s not all about wages.
Employee data collected from Insync’s Alignment and Engagement Survey (AES), specifically highlighted that the key drivers of envisioning a fulfilling future at an organisation are based around investment in people and teams, followed by local leadership.
First impressions count. Our onboarding survey allows you to check how well your organisation is delivering against promises to new employees (i.e., your EVP). This is particularly important as employee expectations have changed since the pandemic.
It also provides an early measure of employee engagement, allowing you to implement time-critical strategies to address issues and concerns before employees start looking for opportunities elsewhere or decide to disengage but stay.
The true value of using Insync’s Onboarding Survey is the ability to identify your new employees’ top reasons for joining and compare their experience against these drivers.
You can also customise, remove and add items to ensure your survey is fit for your purpose and circumstances. Most importantly, our Onboarding Survey clearly identifies what attracted your new employees (benchmarked) and their experiences as it relates to recruitment, onboarding and perceived manager support.
Employee turnover impacts organisational and team performance significantly. Exiting employees take with them internal networks, institutional knowledge and specialised skills.
The true cost of replacing a high-performing employee ranges from 50% to 150% of their annual salary depending on their role.
Turnover also impacts productivity, client service, and employee wellbeing.
Understanding the causes of employee turnover, and taking corrective actions to retain your talent can have a very significant impact on lifting your organisation’s and team’s effectiveness.
Insync’s Exit Survey can be used while having an exit interview with your staff, allowing you to understand the key reasons your employees are leaving and compare their lived experience against these drivers.
You can also customise, remove and add items to ensure your survey is fit for your purpose and circumstances. Most importantly, our Exit Survey clearly identifies why employees are leaving (benchmarked) and their experiences as it relates to the following six factors:
Losing employees is a natural part of running an organisation, but losing key people at the wrong time can be disruptive and costly. Understanding why people leave is critical to manage staff turnover and improve overall employee engagement. Our exit interview questions have been developed by our own organisation psychologists and are designed to be relevant to exiting employees.
The “reasons for leaving” chart shown below, which is available in the online Entry/Exit portal, incorporates our extensive benchmark data. This gives an organisation’s exit survey data a market-wide perspective to help mitigate the reasons for leaving a job, and make more informed decisions about where to prioritise improvement efforts.
Don’t lose the talented people you’ve worked so hard to attract and develop. Encourage them to thrive within their roles and stick with you for the long-term.
Our exit surveys and interviews let you get to the bottom of why people leave your organisation, so you can reduce staff turnover, retain your employees for longer and improve organisational culture.
Our framework for understanding employee turnover includes four dimensions under your control and two dimensions that are largely outside your control.
The dimensions under your control are:
The dimensions largely outside your control are:
We seek to make a real difference to your organisation’s success by offering:
Not all surveys are created equal. Our raison d’etre (reason for being) is to help our clients improve. Our frameworks give you confidence that you are measuring the right things to drive improvements that matter.
Here at Insync, we are experts across all areas of employee relations. Aside from our onboarding and exit surveys, we also provide a compelling employee value proposition to help you recruit new employees.
Discover how this Insync client reduced turnover to save millions each year.
At every step of the way the Insync team provided outstanding support and expert advice, all delivered with a great sense of humour. I couldn't recommend the team more highly for all industry survey needs!
Through analysis of over 40,000 employee survey responses we uncovered what makes people stay, along with 6 strategies to improve employee retention.
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