Description should include
- retention strategies
- enhanced insurance packages
- employer contributions to retirement savings
- educational and professional development opportunities
- bonuses and raises
- employee stock ownership plans
- childcare or eldercare assistance
- alternative (e.g., flexible, remote) work schedules
- paid time off
- termination strategies
- maintain current documentation of employee’s performance
- consult with higher management
- review employee’s personnel file
- organize and prepare script and resources for the exit interview
- determine any items the employee must return to the company and any passwords that must be changed upon termination
- prepare the termination letter
- consult legal counsel as needed
- invite a witness to sit in on the exit interview
- document the exchange.
Process/Skill Questions:
- Why is it important to have an employee retention plan?
- How does professional development support employee retention and improve productivity for the company?
- How do childcare programs improve employee attendance, productivity, loyalty, and retention?
- How is money spent on employee retention actually an investment?
- How should one evaluate an employee retention plan?
- What is the purpose of an exit interview?