So many times when we ask our clients what they are measuring In HR, we hear, "Turnover." I think turnover (some are now using the term retention) is a very good metric IF you analyze the data correctly.
We see a trend in our practice, where managers are looking for "root causes" regarding workplace issues. Turnover is no different. When you report turnover numbers to management, they want to know three things:
- Who is leaving?
- Why are they leaving?
- What can we do to retain them?
To answer those questions we need to get out our detective equipment and start digging. Instead of looking at turnover for the entire enterprise or by department, go a few steps further. Investigate turnover by:
- Engagement scores
By taking a more granular approach to analysis, you will find out some amazing information. For example, what if you looked at your high performers and your most highly engaged employees and found that turnover is 20% for that group? After, panic sets in, then you need to start understanding WHY they are they leaving. This requires looking at qualitative data like exit interviews, focus group data, managerial interviews, etc. The goal is CAUSATION so that you can make improvements to the work experience.
Age, is another interesting data slice. With four generations in our workforce it is interesting to look at turnover by traditionlists, boomers, Xers, and Yers.Get out your magnifying glass and happy analyzing!