Doug Brown: The Cost of Losing Employees

Doug Brown has had a varied career and has worked in different positions for various companies.

In the year 2000, he started a small business to help his kids gain experience in the business world.

This small venture grew, and he ran an organization for over a decade that was primarily focused on employee engagement surveys.

During this time, he gained a wealth of knowledge about the concerns and challenges employees face in their work careers.

He found that there are three common categories that almost all employees seek in their careers - employee engagement, employee experience, and career development. If these three core elements are not met, there is an increased risk of losing employees.

Doug believes that managers play a critical role in meeting these elements, and without them, there is a higher risk of losing employees.

As an expert in reducing employee turnover and absenteeism, Doug equips business owners and senior executives with the tools to identify key retention risks, understand the impact of high turnover rates, and implement effective solutions.

In this episode Doug shares insights on employee retention. He stresses the importance of retaining high-performing employees and the role of managers in achieving this. He highlights the impact of personal and emotional drivers on employee career decisions and delves deeper into the "great resignation" phenomenon.

We also discuss the tools to assess employee engagement and the costs of turnover.

Overall, the episode emphasizes the importance of prioritizing employee experience to maintain a skilled workforce and improve customer relationships.

Key Takeaways

Labor shortages and the importance of retaining high-performing employees
Leadership studies and the role of managers in retention
Two tools for assessing retention: Tension Risk Analyzer and Business Case Calculator
Personal and emotional drivers that influence employee career decisions
The "great resignation" and its impact on work-life balance and commutes
The impact of employee retention on customer experience and operational efficiency
Unique needs of different industries and workforces
The three core focuses of strong employee retention

Timestamps

[00:00:39] Employee experience, retention, and engagement discussed.

[00:04:24] "Career varied, started small biz, surveyed employees - 3 retention factors: engagement, experience, career."

[00:09:28] Emotions drive decisions in work and life.

[00:15:39] Pandemic causes career reflection and resignations.

[00:18:31] Great resignation pushed people over the edge.

[00:25:28] Retention relies on understanding employees' needs.

[00:29:47] Employee experience affects customer experience tremendously.

[00:32:42] Poor employee transition may cost industry dearly.

[00:36:33] Tools for retention: risk analyzer, ROI calculator.

Quotes

Employee Retention: "Those 3 categories are the real cause of employee retention. And those 3 categories are; employee engagement, employee experience, and career development."

The Importance of Employee Engagement Drivers: "It's not always the price tag on the car that drives your decision. It's the emotions of getting into the new vehicle that you're excited about and you look forward to."

Challenges of Employee Transition: "Most companies only give maybe 3 weeks notice...it's not enough time...you also have to remember that you're sometimes losing relationships...so it can be a very difficult period."

Connect with Doug

LinkedIn - https://www.linkedin.com/in/douglas-brown-b3740825a/

Website - https://manage2retain.com/

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scienceofcx@gmail.com

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