Please Don't Go: The top retention drivers for employees
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The document analyzes employee engagement within new tech companies, emphasizing the significance of various metrics beyond job satisfaction, including motivation and commitment. It details a study of 60,000 employees from over 100 companies, finding that strong leadership, effective communication, and opportunities for development are key drivers of engagement. The findings suggest that higher engagement correlates with better retention and a positive company culture.
Please Don't Go: The top retention drivers for employees
- 1. Please Don’t Go New York 2015
- 2. 2015 New Tech Data
- 3. DEFINING ENGAGEMENT We use 5 different questions to try and understand this: Recommendation, Motivation, Pride, Present & Future Commitment + around 45 additional questions (on average) to try and understand what aspects of the workplace and culture have the biggest impact on how engaged different teams or groups are More than just job satisfaction or feeling happy at work Broader than single metrics such as eNPS (Employee Net Promoter Score) “The level of connection, motivation and commitment a person feels for the place they work”
- 4. PUTTING IT TOGETHER ENGAGEMENT Recommendation Motivation Pride Present Commitment Future Commitment Key Outcome Index Other factors measured that may impact Engagement Company Confidence Service & Quality Innovation Leadership Management Communication & Collaboration Feedback & Recognition Work & Life Social Connection Teamwork & Communication Enablement Learning & Development
- 5. THE DATA 60,000 people from 100+ new tech companies
- 6. ANATOMY OF A ‘NEW TECH’ COMPANY 500 84% 40% Average number of Employees Survey response rate Average annual employee growth 90% have less than 1,000 employees Footnote: minimum is set to 25 employees The top 10% are growing 100%+ per year The top 5% are growing 200%+ per year ~75% surveys had 80% response rate or higher $130M* 8YRS Average total funding Years since founded Ranging from 1.5M to 1B+# *This is a trimmed average to remove the influence of extreme outliers #Based only on companies with known funding and not including unfunded companies ~90% have existed for less than 5 years
- 7. 2014 VS 2013 Would recommend Hooli as a great place to work Motivated to go beyond what they would elsewhere Proud to work for Hooli Not thinking about looking for a job elsewhere Can see themselves still at Hooli in two years’ time Engagement Score 87% 58% 58% 70%58% 86%83% 73% 75% 70% 71% 89%
- 8. NEW TECH VS OTHER INDUSTRIES Would recommend Hooli as a great place to work Motivated to go beyond what they would elsewhere Proud to work for Hooli Not thinking about looking for a job elsewhere Can see themselves still at Hooli in two years’ time Engagement Score 87% 58% 61%58% 73% 83% 70% 65% 57% 71% 80% 53%
- 9. WHAT IMPACTS ENGAGEMENT? LEADERS JOB PEOPLE OPPORTUNITIES CAREERORGANIZATION TEAM LEADERS INNOVATION SUCCESS IMPACT VISION ROLE FAIRNESS COMMUNICATION MISSION REWARDS
- 10. 2015 HIGHEST IMPACT ON ENGAGEMENT Gap between New Tech and Other companies Confidence Resources Communication People Matter Development +8% +9% +7% +10% +11%
- 11. THE IMPACT ON ENGAGEMENT Open and honest two-way communication Leaders that demonstrate people are important to the company’s success 64% 64% 78% 77% Scores for companies scoring higher and lower on the top drivers of Engagement Hooli seen as a great place to develop Having confidence in the leaders at Hooli Company effectively directs resources (funding, people and effort) towards company goals ence in the leaders at Hooli 64% 63% 64% 79% 78% 79%
- 13. COMMITMENT IS A REALITY CHECK 87% 83% 70% 58% 58% Are proud to work at their company Would recommend as great place to work Are motivated to go above and beyond Are focused on staying where they are for now Can still see themselves in same company in 2 years
- 14. OUR BENCHMARK DATA STAYING INTENTION Present Commitment Future Commitment Key Outcome Index Other factors that may impact whether someone intends to stay Company Confidence Service & Quality Innovation Leadership Management Communication & Collaboration Feedback & Recognition Work & Life Social Connection Teamwork & Communication Enablement Learning & Development
- 15. TOP 5 DRIVERS OF INTENTION TO STAY Confidence in the leaders Company seen as a great place to develop Good career opportunities in the company Happy with current role relative to what was described to them Company effectively directs resources to company goals
- 16. Q & A
- 17. AND PEOPLE OFTEN ACT