Do you have a plan in place to reduce your employee turnover rate? If not, you should consider using this survey template to help you get started. Retaining employees is crucial for any business and can be challenging to do well. With the right tools and resources, though, it’s definitely possible.
This employee retention plan template will help you gather information from your employees about what they value most in their job and what might cause them to leave. Use the data to create an employee retention plan that meets the needs of your workforce.
What Is an Employee Retention Survey, and What Are the Benefits of Conducting One?
Most organizations recognize the importance of employee retention. After all, it costs far less to keep an existing employee than to hire and train a new one. But what many organizations don’t realize is that effective employee retention begins with understanding what motivates employees to stay with a company. This is where an employee retention survey can be beneficial.
By regularly surveying employees, organizations can gain valuable insights into what factors are most important to them. Companies can then use this information to create employee retention strategies that will help improve retention rates. In addition, by conducting regular surveys, organizations can identify potential problems early on and take steps to address them before they lead to turnover.
The Different Types of Employee Retention Surveys That HR Professionals Can Use
As an HR professional, you know that employee retention is essential to the success of your organization. But what are the best ways to gauge employee satisfaction and identify potential problems? One way is to conduct regular employee surveys. While there are many types of employee feedback surveys, each with its advantages and disadvantages, here are four of the most popular:
- Engagement surveys: An employee engagement survey is typically shorter than other employee surveys and focuses on specific areas such as job satisfaction, motivation, and commitment. One advantage of employee engagement surveys is that they can provide insights into how employees feel about their jobs and whether they’re motivated to stay with the company. However, engagement surveys may not be comprehensive enough to identify all potential retention issues.
- Exit interviews: Businesses conduct exit interviews with employees who have already decided to leave the company. They can be extremely helpful in identifying specific retention problems, but they only provide information about employees who have already decided to leave. As a result, they may not give a complete picture of employee satisfaction.
- Stay interviews: Businesses hold stay interviews with employees who are still with the company and seem to be at risk of leaving. They usually focus on specific factors that may influence an employee’s decision to stay or go, such as job satisfaction, compensation, and work/life balance.
- Pulse surveys: Pulse surveys are shorter, more informal surveys that are administered on a regular basis, typically once per month or quarter. They focus on a specific topic, such as engagement or job satisfaction, and usually take only a few minutes to complete. Pulse surveys can be an effective way to identify potential retention problems early on and take steps to address them before they lead to turnover.
Employee Retention Plan Survey Design
When designing a survey aimed at improving employee retention, it’s crucial to keep a few things in mind:
- Make sure the survey is anonymous. Employees should feel comfortable sharing their honest opinions without fear of retribution.
- Keep the survey short. Shorter surveys encourage employees to get involved and provide honest feedback.
- Include open-ended questions. Open-ended questions allow employees to share their thoughts and feelings in their own words.
- Ask specific questions. General questions such as “How satisfied are you with your job?” can be challenging to answer and don’t provide much helpful information. Instead, ask specific questions about different aspects of the job.
How to Analyze and Interpret the Results of a Survey
Conducting a survey is only the first step in gathering valuable data. When the survey is complete, it’s essential to take the time to analyze and interpret the results correctly. This can be a complex task, as there are many factors to consider. However, some basic steps can help ensure an accurate analysis.
First, check for errors in the data.
This includes things like incorrect responses or responses that are out of range. Next, sort and organize the data to make it easy to interpret. Then analyze and interpret the results. This may involve identifying patterns or trends, comparing the results to other data sets, or performing statistical analyses.
Employee Retention Plan Template
Use these employee retention plan template questions to create your employee retention survey.
- How likely are you to recommend the company to a friend or family member?
- What is the primary reason you stay with the company?
- What do you like most about your position?
- Do you feel your work/life balance is acceptable?
- Do you feel you are paid a fair wage for your work?
- Do you think your job is secure?
- Do you feel your position effectively uses your skills?
- Do you feel that your job is challenging and interesting?
- Are working from home and remote work options important to you?
- Is there anything else you would like to tell us about your job or the company?
Take Action to Improve Employee Retention
After analyzing the results of your employee retention survey, it’s time to create an employee retention plan. This may involve changing company policies, implementing new programs or professional development training initiatives, or simply holding more stay interviews. The goal is to identify the root causes of retention problems and take steps to address them.
By doing so, you can improve employee retention and create a more positive work environment for everyone. When employees experience high levels of job satisfaction and feel valued by their employer, they are more likely to stick around.
Employee Retention Is a Big Issue for Businesses Today
Retaining employees is a focus for many companies, especially since the costs of recruiting and training new employees is significant. Plus, the loss of institutional knowledge and productivity that comes with high turnover rates can be devastating.
It costs money to hire and train new employees, but it can also lead to a loss of productivity and decreased morale among the remaining staff. The cost to the company culture can be so high that it even outweighs the benefits of hiring better-qualified employees. As a result, businesses need to take steps to reduce employee turnover.
Use HourWork To Reduce Employee Turnover
One way to improve employee retention is to use HourWork. HourWork empowers businesses to:
- Dramatically expand their hiring pool by contacting former applicants and employees on a mass scale
- Automate check-ins with new employees to improve onboarding and improve retention
- Get real-time data on which employees are at risk of leaving
- Conduct pulse surveys across the entire company to identify retention issues early
- Reduce recruiting and training costs
Does your business have an employee retention plan? Get in touch to discuss your hiring and retention needs.