Reference no: EM133162727
Instructions: You are the VP of HR at a company experiencing high turnover. Read the following memo from the CHRO (Chief HR Officer) and then decide how you want to proceed. Write a proposal as a memo to the CHRO.
To: YOU, VP of HR
From: Jack Pierce, CHRO
Recently, we've lost some of our best people. Just this week, the People Analytics team provided some data based on exit interviews of 350 employees who left during the past year. I need you to help me make sense of this and come up with recommendations on how we should proceed to reduce turnover.
The data on exiting employees indicates various factors for departure:
- 60% of female employees did not feel valued by their leaders.
- 70% of employees didn't see an upward path in the company.
- 85% of female employees and 65% of male employees expressed that there were no opportunities to be mentored by managers or senior leaders.
- 68% of employees wished the company provided some tuition discount benefit for completing a Bachelors or Masters degree.
- 10% of employees wanted to bring their pets to work but were not accommodated.
- 35% of employees got better offers elsewhere (more pay and opportunities for promotion).
Based on the above data, Alexa, our CFO, thinks we should overhaul our compensation system. She cites that one-third of those who left wanted more pay! Jordan, the Chief Diversity Office, thinks we should invest in diversity training for our managers. I'm not sure how to proceed. Please give me your recommendations on how we should go about reducing turnover in the most strategic way!
Cheers,
Jack Pierce, CHRO
P.S. You know how much Alexa and Jordan are at odds with each other. When I tried to share employment trends related to the evolving psychological contract between employers and employees, Alexa complained about millennial entitlement. Jordan is convinced the turnover is gender-related. Help! We need to figure out a plan that they will both get behind.