0000-04_name kronos internal use only 1 welcome to the workforce institute! december 4, 2007

1Kronos Internal Use Only

Welcome to theWorkforce Institute! December 4, 2007


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


Agenda




• Lunch





• Break



• Wrap Up


Retention Discussion Goals

•Generate content for opinion article (for WFI site and to “shop” through our PR firm)

•Frame retention risk analysis tool


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


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?


Retention Risk Analysis and Mitigation

Current State:

•What is your optimal turnover

rate?

•What is your turnover risk?

•What does unplanned

turnover cost your organization?

Future State:

•Optimal turnover rate controlled

•Unplanned turnover mitigated

•Unplanned turnover costs

reduced

•Impact of best practice

interventions can be measured

Flexibility

Training

Childcare

Wages

Etc….

Best Practice Prescription

Click on cell and Ranking Your scoreuse pull downs to How important is this factor

fill in these blanks 0= not important; 5= very important

Enter your industry Financial services 0 0What is your curent turnover rate 0.75 5 1.25What is the unemployment rate in your area (30 mile radius) 0.05 5 2.5Are you the one of only a small number of local employers? Yes 5 5Are you known as a "great place to work"? Yes 5 5Do you offer

flexible work hours Yes 5 5realistic picture of the job before they start work Yes 5 5low stress environment Yes 5 5special rewards and recognition Yes 4 4cash bonuses Yes 4 4opportunity to earn more money or work more hours No 4 0transportation / near public transport Yes 3 3child and/or elder care Yes 3 3unpaid leaves of absences No 3 0jobs to friends and relatives Yes 3 3good relationships with co-workers Yes 2 2meals at work Yes 2 2open communiation Yes 2 2

Do you conduct "stay" interviews Yes 5 5conduct exit interviews No 4 0examine turnover by manager and/or department No 3 0track retention and turnover over time Yes 3 3identify top performers and track their retention Yes 3 3

Your estimated score 62.75

Your optimal score 83

Potential improvement 20.25

Tool returns your curve (take it from the Australia study)?Tool returns some prose?Can we monetize this risk?

Sample Retention Risk Calculator


Agenda




• Lunch





• Break



• Wrap Up


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.


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


Agenda




• Lunch





• Break



• Wrap Up


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


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?


We Have a Home!


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

16 comments posted in

response to the blogs


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


Research Posted


Web Metrics to Date

• 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

Monday Nov 5 Monday Nov 26


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

Managing Automation

Workforce Management x2

Chain Store Age

Boston Globe

The Slate

Progressive Grocer

Indianapolis Star

Bayou Business Review

Houma Courier

Rock Hill Herald

Milwaukee Journal Sentinel

Richmond.com

Associated Content

Management Issues


Agenda




• Lunch





• Break



• Wrap Up


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


Keep in Touch at “Members Only” Page

Shhh!The password

is “ginger”


Agenda




• Lunch





• Break



• Wrap Up


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


Agenda




• Lunch





• Break



• Wrap Up


Editorial Calendar (also on the site)

Month Content owner Topic

Jan Bernstein and Bramson

Doing well by doing good

Feb Tim Lett Using analytics to drive improved workforce performance

Mar Jeff Hunter Innovation in hourly workforce management

Apr Deb McGrath Applications of social networking in workforce management


Agenda




• Lunch





• Break



• Wrap Up


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

0000-04_name kronos internal use only 1 welcome to the workforce institute! december 4, 2007

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