Welcome to the
Workforce Institute!
December 4, 2007
Kronos Internal Use Only
1
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
2
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
3
Retention Discussion Goals
• Generate content for opinion article (for WFI site
and to “shop” through our PR firm)
• Frame retention risk analysis tool
Kronos Internal Use Only
4
Hourly Retention Discussion – Operating
Assumptions
• That for most hourly workers, the job is a means to
an end
• Hourly workers aren’t looking for self actualization
• Hourly workers generally don’t identify with their
work
• The implementation of retention strategies is
different for hourly than salaried
Kronos Internal Use Only
5
Retention Discussion Questions
– Who are the best-in-class companies for hourly workers?
(and why?)
– Are the best in class hourly employers also leaders in
their category; i.e. can we make the case that best
practice retention = better organizational performance?
– How can employers calibrate retention strategies for
hourly workers when there is seasonality to their labor
needs?
– Are there public-private initiatives that employers should
know about that factor into the retention equation
(WOTC, training programs, etc.?)
– Other questions we should be asking?
Kronos Internal Use Only
6
Retention Risk Analysis and Mitigation
Best Practice
Prescription
Current State:
•What is your
optimal turnover
rate?
•What is your
turnover risk?
•What does
unplanned
turnover cost your
organization?
Future State:
Flexibility
•Optimal turnover
rate controlled
Training
•Unplanned
turnover mitigated
Childcare
•Unplanned
turnover costs
reduced
Wages
Etc….
Kronos Internal Use Only
•Impact of best
practice
interventions can
be measured
7
Sample Retention Risk
Calculator
Click on cell and
use pull downs to
fill in these blanks
Ranking
Your score
How important is this factor
0= not important; 5= very important
Enter your industry
What is your curent turnover rate
What is the unemployment rate in your area (30 mile radius)
Are you the one of only a small number of local employers?
Are you known as a "great place to work"?
Do you offer
flexible work hours
realistic picture of the job before they start work
low stress environment
special rewards and recognition
cash bonuses
opportunity to earn more money or work more hours
transportation / near public transport
child and/or elder care
unpaid leaves of absences
jobs to friends and relatives
good relationships with co-workers
meals at work
open communiation
Financial services
0.75
0.05
Yes
Yes
0
5
5
5
5
0
1.25
2.5
5
5
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
No
Yes
Yes
Yes
Yes
5
5
5
4
4
4
3
3
3
3
2
2
2
5
5
5
4
4
0
3
3
0
3
2
2
2
Do you conduct "stay" interviews
conduct exit interviews
examine turnover by manager and/or department
track retention and turnover over time
identify top performers and track their retention
Yes
No
No
Yes
Yes
5
4
3
3
3
5
0
0
3
3
Your estimated score
Your optimal score
Potential improvement
Tool returns your curve (take it from the Australia study)?
Tool returns some prose?
Can we monetize this risk?
62.75
83
20.25
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
9
Revisit Our Goals
The mission of the Kronos Workforce
Institute is to identify important human
capital management issues that affect
productivity and organizational performance,
and to empower organizations to more
effectively address these issues
through education and research.
Kronos Internal Use Only
10
Recap of Our June Meeting
• Presented Kronos story for context-setting, including
culture, 5 year vision
• Got buy-in regarding the mission
• Group discussion
– How can workforce management practices drive an
organization’s operational excellence?
– Identify potential research and education initiatives for
the Institute to pursue
• Established year one content and research priorities
Kronos Internal Use Only
11
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
12
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
13
What We Must Do to Build Our Reputation
• Publish case studies, white papers,
benchmarking standards, meeting proceedings
and articles that express unique points of view
• Create a dedicated digital presence to house
Institute output and create a dialogue
with interested parties
• Continue publishing directed research similar to
our work with Harris Interactive
• Publish primary research conducted by Kronos
Scientists
Kronos Internal Use Only
14
Metrics
• Are we producing content?
• Are we raising our profile?
• Does the press approach us as thought leaders?
• Are we getting traffic, visits, links to the website?
• Are we getting comments and feedback?
• What are our ratings with search engines?
Kronos Internal Use Only
15
We Have a Home!
Kronos Internal Use Only
16
History of Blogs: 15 Blogs; 3 Guest
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Welcome – October 2, 2007
Old home week at HR Tech
Infotriever is a fickle friend
GUEST – Bernstein: Is the job market healthy or sick?
Scenes from an Italian restaurant
Perspective and Randy Pausch
The Red Sox and the meaning of work(life)
Scouting for leaders
Balancing work and family – What makes the Best Places different?
GUEST- Ain: Competing for talent at Kronos
Not everything that happens in Vegas should stay in Vegas (KronosWorks)
GUEST – Giovannelli: Veterans at work
When Black Friday comes
Are books and readers a thing of the past?
Retaining hourly workers
Kronos Internal Use Only
16 comments
posted in
response to the
blogs
17
Articles Posted
• Supporting Our Troops and Our Employees
• The Challenge at Hand: Balancing Work and Family. What Makes “The
Best Places” Different?
• A CFO’s Guide to Creating a High Performance Organization
• Working in America: Absent Workforce Survey Highlights
• Absenteeism - The Bottom-Line Killer
• Winning Customer Loyalty with a Demand-Driven Workforce
• A New Business Imperative: Managing the 21st Century Workforce
• Demand-Driven Workforce Management: Gaining a Competitive
Advantage from Your Most Strategic Asset
• Recruit, Reward, Retain: A Look at Strategic & Operational Issues in
Building the Right Workforce
Kronos Internal Use Only
18
Research Posted
Kronos Internal Use Only
19
Web Metrics to Date
Monday Nov 5
Monday Nov 26
• For 30 days ending Nov 26:
• 910 visits; 739 unique
• 2,510 pageviews – typically the home page,
blog, toolkit, advisory board, and “about us”
• 75% of traffic comes from referring sites like
kronos.com and links; 10% from search
engines like Google. They are searching on
“workforceinstitute”.
Note: this doesn’t count visits from inside the Kronos VPN
Kronos Internal Use Only
20
Other Metrics to Date
• WFI-sponsored C-level event at KronosWorks:
– 38 registrants, 30 attendees
• 5 press releases (4 surveys, 1 announcement)
• 5 briefings (Workforce Management, HR World,
Boston Globe, The Manufacturer, Human Resource
Executive)
• 1 bylined article (Jan 2008, Workspan)
• 16 mentions in the press
SHRM Online
The Slate
Rock Hill Herald
Managing Automation
Progressive Grocer
Workforce
Management x2
Indianapolis Star
Milwaukee Journal
Sentinel
Chain Store Age
Bayou Business
Review
Boston Globe
Houma Courier
Kronos Internal Use Only
Richmond.com
Associated Content
Management Issues
21
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
22
How You Can Help
• Set up your RSS feed
• Promote the WFI and the website to your network!
• Do a guest blog
• Submit a comment
• Submit a proposal for research, articles
Kronos Internal Use Only
23
Keep in Touch at “Members Only” Page
Shhh!
The password
is “ginger”
Kronos Internal Use Only
24
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
25
Candidate Projects
• Impact Of Reading and Technology Literacy on
Employee Recruiting, Selection, and Retention
Practices
• What onboarding and training factors influence
retention rates of hires in the hourly workforce?
• Differences in the attraction, selection, and
retention of field workers by generation
Kronos Internal Use Only
26
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
27
Editorial Calendar (also on the site)
Month
Content owner
Jan
Bernstein and Doing well by doing good
Bramson
Tim Lett
Using analytics to drive improved
workforce performance
Feb
Mar
Apr
Topic
Jeff Hunter
Innovation in hourly workforce
management
Deb McGrath Applications of social networking in
workforce management
Kronos Internal Use Only
28
Agenda
• Introductions and welcome new members
• Kronos Executive Overview
• Panel discussion on employee retention: issues and tools
• Lunch
• Revisit the goals of the Workforce Institute
• Discuss what have you been working on the past 6 months that is relevant to our
goals as an institute
• Review our progress to date, metrics
•
•
•
•
Discuss strategies for increasing the visibility of and audience for our output
Break
Pick a primary research project for 2008.
Expand the editorial calendar into the next 12 months
• Wrap Up
Kronos Internal Use Only
29
What’s Next
• Expand our website content with existing material
• Break new ground with new content
• Post new surveys
• What else in the short term?
• Meet in May or June
Kronos Internal Use Only
30
Kronos Internal Use Only
31