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Retention Risk Analysis Playbook

A retention risk analysis is a four step process that organizations can use to: 1) determine which employees would have the highest impact if they left and identify retention risks, 2) survey employees on retention drivers like compensation, growth opportunities, and culture, 3) compile a risk matrix mapping impact vs. risk, and 4) develop an action plan to retain critical talent. The analysis helps predict turnover, mitigate skills gaps, and identify retention strategies.

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457 views6 pages

Retention Risk Analysis Playbook

A retention risk analysis is a four step process that organizations can use to: 1) determine which employees would have the highest impact if they left and identify retention risks, 2) survey employees on retention drivers like compensation, growth opportunities, and culture, 3) compile a risk matrix mapping impact vs. risk, and 4) develop an action plan to retain critical talent. The analysis helps predict turnover, mitigate skills gaps, and identify retention strategies.

Uploaded by

diki more sari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Playbook

Retention Risk
Analysis
What Is a Retention Risk Analysis?

When we talk about retention in the field of human resources, we are


referring to an organization’s ability to retain its employees.

Retaining talented employees is critical to the success of an organization.


However, higher levels of employee turnover have become the norm as talent
nowadays is more mobile and seeks organizations that align with their career
ambitions, goals, and values.

A retention risk analysis will help you to:

● Predict the likelihood of an employee leaving their role.

● Analyze the potential impact on the team and identify


potential skills gaps.

● Identify strategies to retain critical talent.

● Develop a retention action plan.

This process should be implemented at a set frequency


(e.g., six months or annually) and consists of four steps:

Determine high versus low impact retention


1.
risk.

2. Conduct a retention drivers survey.

3. Compile a retention risk matrix.

4. Draw up a retention action plan.


Completed by HR
Completed by team manager
professional
High vs. Low Impact Turnover Risk | Survey

The first step of a retention risk analysis is to determine the potential


impact of different employees leaving the organization. This step also
helps identify where to focus resources and time so that you can work on
the highest priorities first.

To evaluate the impact an individual’s work contributions


have on the business, you can focus on these questions:

● Are their skills in high demand in the market?

● Do they possess knowledge that is critical and


valuable for the organization?

● Do they play an important role in achieving


company goals?

● Would it be difficult to replace this employee?

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Completed by team
manager

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Retention Risk Drivers | Survey

When you are assessing the likelihood of an employee leaving your


organization, there are important drivers that you need to consider in
order to identify possible risks.

The following drivers are measured to determine retention risk:

● Compensation and benefits

● Relationship with leadership

● Relationship with the team

● Opportunities for growth and development

● Recognition and praise

● Organizational culture and values

● Meaningful work

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manager

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Retention Risk Matrix | Template

The retention risk matrix helps visualize the impact of turnover in an


organization. By placing the employees in the matrix according to the
score they obtained in the high vs. low impact of turnover risk survey and
the retention risk drivers survey, you can easily identify the highest areas
of retention risk aligned to the highest impact for the organization.

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Completed by HR

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Retention Risk Report | Template

After gathering information and performing an analysis of turnover risk in


the company, including how each particular case would impact the REMINDER

business, prepare a report to share with management and other Make sure that you keep this information
stakeholders. In this report, your findings are listed and the next steps confidential and do not share the report
are suggested. beyond the stakeholders that need to
participate in the exercise.

Reports allow management to:

● Easily access and review all relevant data.

● Improve the decision-making process.

● Make informed decisions.

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Completed by HR

1 2 3 4

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