Proactively identify signs of potential turnover to retain employees essential to organizational success.
Retaining employees is a top priority for organizations, but turnover of key talent is common. In fact, 75% of industries report increased turnover among high-potential employees (Workday, 2024).
In addition to the financial costs of turnover, there are also intangible costs associated with losing key talent, including a loss in productivity, knowledge, and specialized skills.
Organizations often struggle to retain key talent because they lack early visibility into the employees’ unique experiences and only become aware of an employee’s intent to leave when a resignation is submitted. Without proactive strategies in place, organizations miss critical opportunities to intervene early and reduce the costs associated with unexpected turnover of key employees.
Informal flight risk assessments are subjective and lack accuracy. A clearly defined process that prioritizes data analysis, meaningful stay conversations, and human-centric insights into an employee’s experience is essential for retaining key talent and fostering a supportive environment.
Impact & Result
Proactively identifying employees’ needs and interests that influence their intent to stay or leave the organization allows HR and managers to provide tailored support that drives the retention of key talent.
A consistent and data-driven approach to assessing employee flight risk enables organizations to forecast potential future gaps in talent based on areas with higher levels of flight risk and develop plans to mitigate risk and prevent turnover.
Assessing
flight risk using not just quantitative data but also qualitative data and
in-depth stay conversations empowers managers to contribute relationship-based
insights to an employee’s experience, builds trust, and strengthens the
connection between employees and their leaders.
Research & Tools
1. Prepare to assess flight risk
Prepare to assess employee flight risk by establishing the scope of the assessment, determining the timing and relevant data to include, defining flight risk criteria, and exploring the use of technology to support assessment.
Conduct flight risk assessments by establishing HR and managers’ role in the process, analyzing and interpreting data, conducting effective stay conversations, and assigning flight risk levels.
Mitigate and monitor flight risk by developing
action plans to address flight risk employees, equipping managers to
continuously monitor flight risk employees, and consistently evaluating the
accuracy of the assessment.