Recorded Webinar

Transcript

[00:00:00] Bola Akinola: Welcome. Thanks for joining us today. So wonderful to have you all with us. I think we'll go ahead so we can maximize your time in this space with our founder and CEO Ben Brooks as we talk about the shockingly high cost of employee turnover. My name is Bola and I am hosting today's session. I'm joined by our amazing founder and CEO, Ben Brooks, and also by our super producer, Helen, and Helen is going to walk you through some steps on the best ways to engage today.

[00:00:28] Bola Akinola: Helen. Hello, everyone.

[00:00:30] Helen Fong: Sounds good. Hi, everyone. As Lola mentioned, my name is Helen. I'm joining you from San Francisco, California. And what I'd like to do is introduce you to some of the tools that we'll be leveraging for interaction. You started using the first one already. So we're using the chat feature. We also have the questions feature turned on. So you're welcome to send questions to to our speakers throughout today's session. So feel free to leverage that button at the bottom of your zoom screen as well.

[00:00:58] Helen Fong: The session is being recorded [00:01:00] and PILOT will share this information with you via email afterwards. So back over to you, Bola.

[00:01:08] Bola Akinola: Wonderful. All right. So as we continue, just quick introduction, a little bit of a deeper dive into our founder and CEO, Ben Brooks. He's one of HR Executives top 100 HR Tech Influencers, as well as being the author of HR Executives Coach's Corner, where he gets an opportunity to share insights and give some amazing advice on the dynamic business landscape and looking at how HR professionals can maximize the impact that they have on businesses, right? We look to Ben Brooks as a pillar of the HR industry. As I mentioned, he is our founder. He is the CEO and sole investor in PILOT. And PILOT is well known as an award winning virtual employee development and group coaching program, right?

[00:01:50] Bola Akinola: Throughout Ben's career as an HR executive and as a private CEO and executive coach, Ben has been a driving force in helping [00:02:00] other HR professionals avoid needless turnover. He's also a really active advocate for DEI diversity, equity, and inclusion, having served on the board of directors for Outserve, which helped to repeal the don't ask, don't tell law.

[00:02:14] Bola Akinola: And he co founded an LGBTQ ERG employee resource group at his previous management consulting firm. If you don't follow Ben Brooks on LinkedIn, if you don't follow Ben Brooks on Twitter, you are missing an opportunity to get to know one of the most dynamic and knowledgeable HR influencers around. And today we have him here all to ourselves and he's going to share with us thoughts and ideas around the shockingly high cost of employee turnover. We are welcoming Ben. Just a little bit more about PILOT. PILOT is a really amazing, comprehensive, virtually accessible group coaching and employee development program. It's set up to make sure that managers, that leaders, that all team members have an opportunity to [00:03:00] take a look at feedback, at their workability, have opportunities to reflect a little bit more and gives opportunities for cross coaching and skilled mentoring.

[00:03:08] Bola Akinola: And if we take a look at our next slide, you can just see some of the wonderful organizations that we've had an opportunity to work with, upon whom we've had an impact, who've of course had an impact on us. Next slide, please. And some of the amazing benefits of working with PILOT, one of which is making you feel amazingly powerful in the workplace.

[00:03:29] Bola Akinola: So that's Ben. That's Ben's organization. We are going to dive into some Q& A right now. Is that OK with you, Ben?

[00:03:36] Ben Brooks: Bola, thank you for such a great intro to PILOT and me making me blush. I put in the chat, I was a little like I'm like, oh, gosh, cringing a little bit about hearing myself, from someone else's voice.

[00:03:46] Ben Brooks: But it's very generous. And so this is like, a lot of webinars, you put it over on one side of your screen, your email box, and you're eating your salad and all that eat your salad, but we want you here and it's a lot of fun and we learn a lot together.

[00:03:58] Bola Akinola: What a great opportunity.

[00:03:59] Bola Akinola: [00:04:00] Okay, so we're gonna throw some questions at you so you can share some info with us all right away. That's the first question right there, right? What's the state of turnover in our labor market today?

[00:04:10] Ben Brooks: What we're seeing out there, is that, we have this unique thing where, turnover is still a problem even though the economy has been a little bit rocky, and some people are like, are we having a recession or not?

[00:04:19] Ben Brooks: Inflation's gone down now six months in a row. jobs reports are looking better, but yet the media folks, a lot on tech layoffs. And there have been tech layoffs, but relative to tech hiring over the last three years, tech employment is way up and average salaries are super high compared to where they were two or three years ago.

[00:04:37] Ben Brooks: So even after the layoffs, right? Tech is way ahead, but the problem is that most organizations are still struggling to find and keep good talent. If you have turnover, it ends up being a big headache, which we're going to talk about, costing that so you can do something about that today.

[00:04:54] Ben Brooks: And the number one priority for HR is retention, because even as people are getting laid off and [00:05:00] things like that, and the economy is cooling a little bit. it's still hard to find good people. So I'm going to ask you to put a plus one in the chat. If you at your organization are still, having unfilled roles or not enough talent or maybe not enough capable managers, right?

[00:05:17] Ben Brooks: Is this a challenge that even though the economy has been a little bit rocky or cool or maybe pre recession or recession ish, You're still having labor shortages or insufficient skills or unfilled roles, those sorts of things. Evan had put turnover and frontline customer service roles as difficult.

[00:05:34] Ben Brooks: For sure, Evan Plummer, thank you for that. So a lot of you, absolutely. So this is the thing that it's a bit rare. If you remember the, if you're in the workplace, in the, financial crisis in 08 we saw that, the economy was down, right? Stock market, GDP, all these other, things were way down.

[00:05:48] Ben Brooks: And, and then labor was also abundant, right? Because all these people got laid off and it was this big challenge. But the weird thing is the economy's down a little bit, but stock market's up. NASDAQ had its best month in [00:06:00] January since like in 20 years. So it's like this very weird thing where we've got like things pulling up and going down all at the same time, but organizations are realizing this is a big challenge.

[00:06:10] Ben Brooks: And thanks for the data here. We've got, 33 percent was the voluntary turnover rate across all industries from the Bureau of Labor Statistics for last year. for 2021 rather. So big, great resignation year, but we saw a lot of that continue to last year and continuing this year.

[00:06:26] Ben Brooks: Right now we're in bonus season for many industries people waiting for that check on a particular day and then they're gone. So this is a big challenge. And then, the increase that Gartner, a big research, firm found that 20 percent increase since pre pandemic, right? So this is a structural change that if you were to think about modeling your turnover over time, you have a certain team of recruiters and training, et cetera, based upon an expected turnover.

[00:06:51] Ben Brooks: But if it goes up significantly, the thing, the model breaks down, right? This is where like airlines have all these troubles with labor and other industries are having [00:07:00] troubles. And and then, the cost of replacing someone, we're going to talk about that more, but it's usually a multiple or a percentage of the total annual compensation of the employee.

[00:07:10] Ben Brooks: So if you have an $80,000 employee and it's a 50% cost of annual comp, if they quit, the organization's cost is about $40,000. Now, in some organizations, it's harder to recruit, it takes longer to train and onboard, and I started my career in the defense industry. I had to get a Department of Defense secret clearance.

[00:07:29] Ben Brooks: The clearance process alone is 10,000 or 15,000. So if you have turnover and you lose someone with the clearance, you add that on top of it. So the turnover at Lockheed Martin was definitely over a hundred percent of cost. So if I had made 80,, there was 80 to replace me, right. And then still pay the next person 80 behind me.

[00:07:45] Ben Brooks: And again, this is costing businesses in the United States, according to Gallup, another great research organization. All of this is cited by the way, in the slides and great job Liz on that work with us are at a marketing. A trillion dollars is the cost to businesses. And this [00:08:00] is essentially waste, right?

[00:08:01] Ben Brooks: Because this isn't turnover, voluntary is the key word. Voluntary, right? When we have a riff or we fire someone for performance, it's involuntary. The employee didn't choose. And some of that turnover is good. In particular, if it's a low performer that we haven't been able to get to through training and feedback to the right levels, we want to cycle those folks out of our organization.

[00:08:20] Ben Brooks: But volunteer when you got someone great like Bola or Helen on your team, you don't want to lose, these magnanimous women on your team or men or anyone else, because they know a lot, they care about the organization. It's a critical thing.

[00:08:34] Bola Akinola: Thank you so much for that. I'm seeing Audrey says in chats she'd done some, the DOD Department of Defense for 17 years before moving into non profit and these numbers are staggering, right? And speaking of some costs and numbers and things, let's take a look at the next slide. We have an opportunity to ask you a question in poll form, and we'd love for you to respond in chat.

[00:08:54] Bola Akinola: Is there a specific metric that you use to calculate the cost of turnover in [00:09:00] your organization, right? Let us know in chat. if there is a particular metric that you all use. Ben went through quite a few of them, right? Looking at onboarding costs or the costs for getting people cleared, salary, those kind of things.

[00:09:15] Bola Akinola: Are there specific areas where you look to calculate the cost of turnover? We'll be watching the chat for that because that's good information for us. And good information to address. Yep. Coming through. Training and certifications. Yeah. Those investments in people.

[00:09:31] Ben Brooks: Yeah. Mike talks about revenue, right?

[00:09:32] Ben Brooks: Imagine you have a firm where you do billable hour work and you lose 20% of your staff. Well, you have 20% fewer billable hours. because you don't have people that you can bill, right? So your revenues can go down based on your industry, based upon just not having people to do the work. Think about, construction crews and people doing, trades work, that have been oversubscribed.

[00:09:56] Ben Brooks: There's organization, you wait a long time or you lose the business. [00:10:00] Training and certifications. Tammy mentions that that's okay. We got to get somebody trained at, our proprietary thing or unique thing, or they got to be licensed in this industry. We have to do that.

[00:10:11] Ben Brooks: Dean says rule of thumb used here 30%. Increase in workload, loss productivity, and train cost. And we'll talk, Dean, my guess is that that rule of thumb is well thought out and probably that percentage needs to even go up. And so that we'll talk more about that.

[00:10:24] Ben Brooks: Louise, 2x salary usually covers total cost of losing an employee. And Louise, that's I think that's a, that's probably more accurate in terms of overall for many industries. If you, we'll talk about the kind of hidden costs that are a little harder to track in your P& L. But we'll talk about more of that in this webinar today.

[00:10:42] Bola Akinola: Thank you for some of these responses, giving us an opportunity to look at them and address them. Let's take a look at our next question for Ben, right? So just looking back at one of the stats that we had before, how does it cost 50 to 200 percent of annual comp when an employee quits?

[00:10:58] Bola Akinola: How does that work [00:11:00] out?

[00:11:00] Ben Brooks: Let's just think simple math. We'll assume like a hundred thousand dollar person, right? Most of the time, when we think that 50 to 200%, we're thinking about the things on the top of the water there, hiring, training, and onboarding. Okay. So you've got a finance manager, you've got a product person, you've got someone in operations, you got someone in sales, they make a hundred thousand dollars, right?

[00:11:20] Ben Brooks: They issued their letter of resignation. You're bummed about it. You're not able to keep them. You have to then post direct, get a job approved, like it takes money even internally, get the requisition approved, go through finance, right? You, you gotta then, work with an outside recruiting firm, use your recruiting team, maybe pay for, paid posting, maybe have assessments.

[00:11:41] Ben Brooks: All the time, all the people that interview an interview process isn't free because if managers have to go interview 10 different candidates and they spend two hours each candidate in multiple rounds and things, all of a sudden you got half a week that was put into hiring that they could have been doing something else.

[00:11:56] Ben Brooks: Okay, then we hire them. Oh, we got background checks. So we got this. So we have to [00:12:00] onboard new benefits. We have to send them new computers. We've got to buy them new this. We got to did it, right? Build, get a new building badge, right? All these things are cost money and they add up. Oh, then we have to train them.

[00:12:10] Ben Brooks: Oh, we got to train them on this. We got to get the licensing, the certification. Oh, we have to onboard them. When someone is new, right, the FNG, the freaking new guy or gal they, they're not as good. They don't know what you might hire an experienced hire from a competitor.

[00:12:22] Ben Brooks: They still got to figure out your system or your process or your culture. So I'd love, by the way, in the chat, there's a in talent management, there's a thing called time to competency. It's like the amount of time, typically in months, could be in days or years even, but typically in months. The time from when they're hired to when they get to a meets expectation.

[00:12:40] Ben Brooks: Think of a three out of five on a performance management scale. What do you think the average, for your organization, how many months does it take for a new hire to get to really humming at expectation, right? They're like a, so we've got 12, we've got 6 to 8, 12. I'd love to [00:13:00] hear from more, 12.

[00:13:01] Ben Brooks: Six, because it takes a while, right? It's not like they're not being professional or not adding some value, but you think of, a brand new salesperson, a product manager, a knowledge manager, someone in operations, someone in IT, six, nine, twelve, three, six, nine, twelve.

[00:13:16] Ben Brooks: Depends on the position, and Mary, I might have you dimensionalize, what kind of positions are you having the highest turnover and how long does that take, right? Because if it's a position that's one month time to competency versus six. There's different costs. We go back one slide real quick.

[00:13:28] Ben Brooks: So the other things to consider are everything else that's below the water. Oh, we have to hire, train, and onboard, but we also have quality issues because the customer that that person took care of now has no one taking care of them, or they knew all this stuff because they worked here for six years, or all of a sudden we look bad because, we've got a big exodus and it's in the news.

[00:13:49] Ben Brooks: Or someone's glass door review is negative, the customers are unhappy. We gotta do emergency cover. Oh my gosh, we lost those people. We had to bring in a staffing agency and bring in temps or contractors. So we [00:14:00] gotta pay consulting firms to do the work our staff usually does. That just adds to the cost.

[00:14:06] Ben Brooks: Now, the onboarding cost, what I'll mention too is if it takes, let's just say. six, right? A lot of you are nine or 12. I'm just going to even be conservative and say you got six months. You're paying someone's salary as if they're at standard, right? The market comp for a role is assuming they're at a satisfaction level of performance, but there's a ramp period.

[00:14:27] Ben Brooks: So what you're basically doing is overpaying or paying more than what you're getting for until they get to time to competency. So if I have a hundred thousand dollar person and it takes them 12, 000, 12 months to get time to competency. I'm going to pay that 100, 000. I'm going to, maybe I'm going to get 50, 000 in value as an organization.

[00:14:45] Ben Brooks: So when you have people churn that's the evidence is like great, and use the emojis, by the way, if you got reactions, thoughts, if you think of this differently if you've got a different metric, this is a collaborative community that we're building here. But we want to get your wisdom here.

[00:14:58] Ben Brooks: But this is the part where [00:15:00] we never bring all the costs together because the customer churn is in a different part of your budgets and P& L than the quality, which is a different part than the training, which is in a different part than the brand or the staffing coverage. But when you put it all together and think about it as an organization as a whole, that's an entrepreneurial mindset, I like the eyes there as well.

[00:15:19] Ben Brooks: So Helen, can you take us to the next slide?

[00:15:27] Ben Brooks: It gets worse, folks. Boy, is this getting expensive. So we've got the managers and what are they dealing with? So we think about HR and what's HR's challenge in all of this, but then you've got the managers. So you've got, this amazing manager here, somebody quits, what does she do? Oh crap, please stay.

[00:15:47] Ben Brooks: Let me counter this. What did they give you? Let me see if I can match it. Let me see if I can do better. Just give me a couple of days, right? That's a scramble because then she's got to call her boss and HR and finance and have late night calls. A lot of [00:16:00] stress, right? Then they're going to say, oh my gosh, we're missing this person now.

[00:16:03] Ben Brooks: Who's going to cover their work? Okay. Bola, do a little bit more here. Helen, do a little bit more here. Ben, do a little bit more here. That's a cost, right? The scramble, stress. Then they got to go recruit and interview. We know what that, oh, we got to meet all these candidates and they get, resumes and they got to sort those and they got to schedule and they got to reschedule and they got to follow up and they're getting people reaching out to them on LinkedIn and they're doing this and they're that and people are referring internally and they're, That's a lot, right?

[00:16:26] Ben Brooks: Calibrating scores, etc. Then it's like, oh, we got to get them started, got to give them an offer letter, we got to get them to sign, we got to negotiate the start date, oh, they need to move the start date, and blah, blah, blah, blah, blah. We got to spend six or 12 months getting them to competency.

[00:16:41] Ben Brooks: Think of how stressful that is for that manager. Then what happens to managers? They quit too. So a smaller domino hits the bigger one, and they all wipe out. And they're not as good as managers of taking care of the rest of their employees. They're less apt to have the patience or the app appetite [00:17:00] for development conversations.

[00:17:02] Ben Brooks: Or to be thoughtful, or to drive culture, because they are scrambling, plugging holes, and bailing water. Really costly and painful to your managers. And a lot of HR, we rag on our freaking frontline managers, and we need better managers and stuff. Let me tell you, being a manager is a hard job.

[00:17:20] Ben Brooks: And turnover makes it harder. So we got to cost that in as well.

[00:17:26] Ben Brooks: P. Simmons put a comment in by, whether they're up to competency or not, there's an expectation that will be raised when the next review comes around. Even better, right? Oh my gosh, we paid a hundred, and we only got fifty, and oh, by the way, now they expect to make a hundred and five or a hundred and ten, and are they going to even get to a hundred, right?

[00:17:41] Ben Brooks: So that's a, that makes the math even worse, that's a great comment. Keep these coming, right? Padma, talks about the incubation cost. And then you also look at Gusto's research. Employees don't really hit their peak productivity, according to HR people, just like y'all, until [00:18:00] year three.

[00:18:01] Ben Brooks: That kind of makes sense, right? If you've worked in an organization, especially a bigger organization, year one, you're like figuring out who the players are and how things get done. And, you think you're on top of it, and you're not, and people come and they go, and you realize what's a real priority versus what's not.

[00:18:15] Ben Brooks: Year two, you start to really deliver. Year three, you're humming. You know how to get something approved. You know what's real and what's not. You know what the right expectation levels are. The relationships are there. You're trusted. And so if employees are churning in year two or year one, you're also not getting, because ideally you want to put 100 in compensation and you want to be getting 150, right?

[00:18:37] Ben Brooks: And then give that back in development and career opportunities, right? And it's not that the employee is like working more hours and you're sweating them or breaking their back. That's not what we're saying. It's that with knowledge, we get better at things. I wasn't that great at cooking. I got, and then the pandemic came and then I got a lot of cycles of cooking.

[00:18:53] Ben Brooks: And all of a sudden I was cooking the crap out of my dinners, right? I just was like boom, right? Cause I got more cycles. So my productivity [00:19:00] of cooking and how quickly I could prepare a meal. And the quality of that meal went up with less effort, right? That's compounding the experience that we miss out on when employees leave quickly and in any job, it could be in sales and ops and product, compliance, technology, you name it.

[00:19:19] Ben Brooks: And then Meredith says most turnover happens by 18 months, right? So in that case, Meredith extra expensive. We're adding to the cost that, wow, we never even got to peak productivity. Think about it, a customer relationship, right? Think, imagine if Netflix, you've lost leader and you advertise to people and you get someone to be a subscriber.

[00:19:36] Ben Brooks: Netflix is not counting on you being a subscriber for 18 months. Right? The way that they make money is you just grab her over time, right? And then you're on AutoBill and it's efficient, right? There's a churn for software or subscription businesses is that, you saw Netflix's subscribers didn't grow one quarter.

[00:19:52] Ben Brooks: They went down, I don't know, a couple, a hundred thousand out of like 230 million. The stock freaking tanked, right? Went down like 30 or 40 percent [00:20:00] because it was like, oh, this starts to blow up the model of the productivity.

[00:20:05] Bola Akinola: Some really interesting thoughts in the chat. Lindsay even brought up the recruiting process where, recruiters are now offering incentives for people to come and interview, right?

[00:20:14] Bola Akinola: And then each other's looking at exit interviews and them not really working for us if we don't use them. Yeah, these are great.

[00:20:22] Ben Brooks: And Audrey mentioned, compression, right? Where you're overcompensating new hires. This happened a lot later, 2020, 2021. You had a project manager and usually pay 70 for those.

[00:20:31] Ben Brooks: And all of a sudden you need to pay 95 because the market's crazy. And all of a sudden your economics and your whole model was based on 70, 000 project managers. Now you have a 95,000 manager or project manager who's at 50 percent to competency because it takes them 6 or 12 months to get there. So your economics just completely blow up, right?

[00:20:51] Ben Brooks: And and then also you have pay equity issues internally, right? You're more experienced people that are in better work are getting paid less, right? None of us feel good about that. [00:21:00] So there's implemented stay interviews is what Mary says, right? Get feedback before.

[00:21:05] Ben Brooks: Absolute best practice, absolutely super rare, what Mary's doing in her organization. So Mary, if you have any detail about how you're doing that, I'd love to have you put that in the chat. You know, Hell, if I got your name, right? Hell Torres mentions, doing exit interviews was worthless if we don't do anything about it.

[00:21:22] Ben Brooks: Imagine Netflix subscribers keep, churning and they get all this feedback and I'm like, Oh, like there's not enough nature videos or something like that, and then they know let the content team know that they need to have more nature videos or we're going to lose customers. So that feedback loop is really important.

[00:21:39] Ben Brooks: So let's go to the next slide.

[00:21:43] Ben Brooks: Now the other, so we've got, remember, there's the hiring, training, and onboarding, the iceberg, that's expensive, and that's the traditional cost of termometric. Then we've got the managers. Oh my gosh, they got heartburn, right? They have got their, they're getting that peps that they see out, because they're, their TUMs, they're taking, they got a big old, that, [00:22:00] you know, that triangle plastic can of TUMs, kind of chalky, right?

[00:22:03] Ben Brooks: The pop, yellow plastic pop, right? They're just taking TUMs all the time. Now we've got the peak productivity that the organization misses out on the team, your customers. And then there's the employees, the remaining employees. So you got to figure that there's a cost for them too. So Bola and Helen and I are on a team and someone quits our team, right?

[00:22:22] Ben Brooks: We got to pick up their work. Okay. So that burns us out. We're doing more work for the same reward. Then, Oh, we got the fricking new person coming in. Okay, great. Oh Hey, Hey, Billy. Hey, Joaquin. Hey, Maria, whoever it is. They come on the team, we gotta train them. Oh, that's extra. I gotta do my job now, and I'm doing coverage, and that person's not the competency, and I gotta do this, right?

[00:22:43] Ben Brooks: And then I'm thinking, am I a sucker for staying here? All these people are leaving. They're all going over here and doing this. There's something wrong with me that I'm staying, right? So they get doubt about this, right? And then the last one is that they're also sad. This is the thing we don't talk a lot about in [00:23:00] HR, but we should.

[00:23:01] Ben Brooks: Grief. You lose a pet, you're mourning, right? You were used to that pet. You were used to walking that dog or feeding the cat or checking on the fish or the parakeet, whatever it is. Look, your colleagues aren't a lot different, right? They may not be a family member, but we can still have grief for, every day I sat next to Darlene or every day I had a meeting with so and so or this and that, or like we would go on business trips together, or they were the person when I needed some help or feedback or perspective, when I was freaking out, I would send them a Teams message or a Slack.

[00:23:34] Ben Brooks: So they cost your employees something too. Their employee experience and their engagement goes down when there's turnover. So I'd love to put in the chat, if you, do you talk about, the manager and the employee impact in the cost of turnover? I put a yes or a no, maybe, or a little, maybe, yes, no, maybe.

[00:23:51] Ben Brooks: Are you, yes, we talk about manager cost and employee cost internally with turnover, or no, we don't, or maybe. Let's [00:24:00] drop some yes, no's and maybe's in there. Most organizations don't, by the way. So if you are, you're on the leading edge.

[00:24:06] Ben Brooks: Some yeses, some noes, or not enoughs, right?

[00:24:13] Bola Akinola: Got a good, legitimate mixed bag.

[00:24:16] Ben Brooks: Yep. Yeah. And Lindsay says everyone deals with grief and hardships differently. Some people talk about it, some people compartmentalize or they bury it, right? Some people freak out, there's, I saw something the media is so stupid with HR terms, right? But the latest one was rage applying.

[00:24:32] Ben Brooks: Where you're pissed off at work and you just get on LinkedIn I'm applying for jobs, I'm applying for jobs, right? That's like our panic applying, and that's where recruiters hate is like, oh my gosh, someone just lit up and applied for 90 jobs here, right? So that's a thing that can also happen when employees think, wow, two of our team of six just quit this week, right?

[00:24:52] Ben Brooks: That will be at the dinner table at their house. They will be talking about the team and it will seem chaotic, [00:25:00] right? If a sports team, right? If the Eagles all of a sudden had, like a couple of their key players or any other players, right? Just all of a sudden, get out of the sport or, ask to be traded or take time off.

[00:25:10] Ben Brooks: We wonder what's going on with the Eagles.

[00:25:16] Ben Brooks: Let's go to the next slide.

[00:25:21] Ben Brooks: I'm going to have Bola check out some of these comments because there's so many good things. And what I love about this webinar right now is that y'all are adding to the conversation, right? Your own perspectives, right? It's, this is where we want to create, with PILOT, a collaborative HR community because there's a limit to what I know or what Bola and Helen knows or what Liz knows.

[00:25:38] Ben Brooks: We want to really add to the knowledge base here and get these various perspectives. So this surprisingly high cost of employee turnover. When you add the traditional stuff, hiring, training, onboarding, plus all the shadow costs under the iceberg, then you add the manager, right?

[00:25:52] Ben Brooks: Like, four of them thumbs out, right? Then you have the missed productivity where they're out the door before, before they ever got into flow. And [00:26:00] then you add the burned out team members that are, people are dropping like flies or jumping off the ship, right?

[00:26:05] Ben Brooks: You've heard all the terms ends up being, we're essentially burning money, right? This is really, so that's where some people were like, it's actually 200 percent of total comp. That's probably closer to the real cost when you add all of this in, because you could actually put a price on these things. You could actually do some estimation or use some studies or some benchmark that this does have real costs.

[00:26:30] Bola Akinola: Yeah. I'm looking at before, before we move on to this poll, we're going to get some information from you. I'm just looking at some of these comments in the chat and they are gold. Mary has shared a structure for how her organization sets up some really tactful check ins, right, to make sure that folks are getting what they need and creating an atmosphere for it, which is really under thought of, if you will.

[00:26:54] Bola Akinola: So that's wonderful to get that kind of honest feedback by asking honest questions. And Meredith's explanation is, I [00:27:00] think, stellar as well. When one person leaves, one rotten apple affects the rest, right? Even if it's not on purpose, right? But that's the leave behind, right? These are great.

[00:27:12] Ben Brooks: Mary's question number two. What can we do to make your job better? So it's one thing to ask that in an engagement survey. And you get a thousand people or 10, 000 people and you get some aggregated result. It's a different thing for me to say, yo, Bola, what can I do to make your job better?

[00:27:32] Ben Brooks: It forces Bola to be self aware and to think and to be part of the solution, because you can just be like, oh, it sucks around here, or I'm not happy. Right? Imagine being in a relationship, romantic relationship, I'm just not happy. And the other person's okay what would make you happy?

[00:27:46] Ben Brooks: Right? And so it's some work to do on the employee's side to be a little bit more specific. Oh, I need a little more flexibility. Or, seems like we never make priorities around here. And so I'm half assing everything I really need. Things with clearer [00:28:00] priorities and expectations set.

[00:28:01] Ben Brooks: So like a great example. Like what Mary's talking about there. You don't need to buy a system to do that. This is a process, right? Even asking, and this is I think the thing about retention in these conversations. Number five, Mary put in there, when was the last time you thought to about leaving our company and why?

[00:28:18] Ben Brooks: It just allows instead of being like, you would never think of leaving the company. I was like no. I'm super happy here. Like get real. Everybody thinks every once in a while about this and maybe they never have, but open the space to say, you know what I did. And it was when everybody left early one day and I had to work till 11 o'clock and no one did their parts.

[00:28:39] Ben Brooks: And it reminds me of being in school and doing a group project and I had to do all the work, and I hate that feeling. That's how my whole school experience was. I'm not doing that.

[00:28:48] Bola Akinola: Yeah, this is great opening the space like you said Ben and that's what Mary ended with like setting up the environment so that people can feel comfortable really answering those questions.

[00:28:58] Bola Akinola: Wonderful. Thank you for [00:29:00] sharing that. So we have a poll. This is a poll poll. We'd like for you to answer the question once again, around the cost of employee turnover, but this is really thinking about does your leadership team, does your executive team really understand, right? And I saw one or two people put that in the chat that maybe leaders do or don't, but what are your thoughts?

[00:29:19] Bola Akinola: We'd love some stats here.

[00:29:21] Ben Brooks: And look at the effort full cost. Remember, like there's the iceberg, there's the manager, there's the productivity, and then there's the employee grief and questioning and doubt. That's the whole cost.

[00:29:36] Bola Akinola: Yeah. Keep those coming, please. See those numbers going up as far as people participating.

[00:29:42] Bola Akinola: We have about not quite 65 percent of you would love some more responses here to whether or not you think your executive team understands the full cost of employee turnover. More thoughts? And it looks like no, it's coming out ahead.

[00:29:58] Ben Brooks: Okay. All right. Let's see those [00:30:00] results.

[00:30:00] Ben Brooks: Oh, wow. So we've got 62 percent no and 24 percent maybe. So only, one or two out of 10 organizations are a yes. And even some of the people that said yes in the chat said yes, but we don't talk about it enough or have a specific enough and

[00:30:16] Ben Brooks: And Nicole says in the chat they see the financial but not the human impact.

[00:30:20] Ben Brooks: And I think Nicole my challenge to you would be quantify the human impact, right, because executives think in numbers. And so what is the grief is human impact. But what is grief do oh, that means. Less engagement, less productivity, more absenteeism, quality issues, being checked out, less ownership, those sort of things we can start to put some directional numbers on it.

[00:30:45] Ben Brooks: So if you're feeling bad that your organization doesn't have this figured out, you're in good company. We got hundreds of people on this webinar working on this together. I worked in the corporate world, senior vice president of HR at a 5 billion company, and [00:31:00] we didn't have this figured out either. So now when we say Oh my gosh, we've got to do something about, attrition and involuntary.

[00:31:07] Ben Brooks: Well, you know what? Yes. But when we do something, what we typically do is rather than say, Oh, you quit. Oh, crap. Okay. I'll go hire someone else. We say, Oh, no, I'm going to do something about that. I'm going to stop the tide from coming in. I'm going to, I'm going to keep, I'm going to save Bola, I'm going to give her a counter.

[00:31:23] Ben Brooks: What does it take when on a Wednesday at 1237 PM, you have someone resign and they give you their two or three weeks notice? and you've got to give them a counter to increase their pay or change their role or give them a different title or that's not something that happens quick and so for it to happen quick you're on calls with your boss's boss and finance and you got to call in some favors and bulldoze some people and then let's just say you do counter and they do accept 50 percent this is an insane stat 50 percent who accept [00:32:00] the counter offer start looking for a new job again in two months Two months.

[00:32:05] Ben Brooks: So you wouldn't give them a 15 or 20 percent raise or all this stuff. And I would imagine from our anecdotal experience, this is true, right? When people want to leave and we beg them to stay and we pay them more money, we're paying them more and they're still pissed off. But they're willing to be pissed off for a little bit more.

[00:32:23] Ben Brooks: It's not like they're like happy, right? And they are resentful that they had to get it to the brink of leaving to feel valued or appreciated or get what they want. Think of a relationship, you have a threatened to leave. And then that's when they get their attention. You're like, oh, wait, this is what it takes.

[00:32:40] Ben Brooks: And we're also training our employees by the way, that that's how they'll get what they want in an organization is to threaten the most severe thing, which would be to leave. which isn't a very healthy self advocacy dynamic in an organization.

[00:32:57] Ben Brooks: One day notices.

[00:32:57] Ben Brooks: Wow. And that stinks.

[00:32:59] Bola Akinola: [00:33:00] Yep. And yes, you're able to give them what they want or what they need in the moment, but you have in the back of your mind that they're still going to leave soon.

[00:33:06] Bola Akinola: You're still working with that. The next question then around all of this is what can we do, right? How do we then get employees to stay? Better yet, I love this, how do we get them to want to stay?

[00:33:20] Ben Brooks: Dana made a great point. Unless it's a pay issue, a pay increase really won't help.

[00:33:24] Ben Brooks: And the thing with pay is we think it's all about pay and it's all about pay. McKinsey and Peer Research Center last year and had research career development and not feeling they're advancing and not growing is the reason people leave. Now, pay is in there. And if you've got someone that's got really below market comp, or they don't understand their comp, pay is the thing you need to address.

[00:33:52] Ben Brooks: Typically, the reason that people are leaving from the data here is its lack of advancement and [00:34:00] development. So, advancement could be a vertical promotion. It could be a new project or a new challenge. It could be a new territory, a new thing to manage. But there's also growth, right? Am I getting feedback?

[00:34:10] Ben Brooks: Is Bola at the end of this webinar getting challenged, being celebrated for what she did great, but also seeing how she can take it to the next level? One of our values of PILOT is striving. We talked about striving, kind of this, relentless pursuit of kind of getting better and in excellence. And by the way, if you ever want to see a copy of the PILOT values, we're happy to share them.

[00:34:30] Ben Brooks: You can just email [email protected] or put your, put it in the chat here that you want to see the values. We can send those to you. But the data, right? We know, it's not this sort of mystery. If you look at an engagement survey, or an exit interview, you often don't get the best data. In particular, if your exit interviews are done while they still work at the company, there is a lot of incentive to not blow up the place.

[00:34:49] Ben Brooks: People say, Oh, I just found another opportunity. Well, it's not really good data, right? They're typically, you either get someone who's really disgruntled and they were going to completely [00:35:00] drag and trash the place or their manager, and that is a separate issue. Or you get a majority of people who are overly polite because they're smart, because they're still on the payroll, or they might need an employment reference in the future, or they might need something else.

[00:35:15] Ben Brooks: And so you don't get the data, but the data from these surveys gives a better sense. I was at Lockheed Martin when we had people, but we did exit interviews with a third party company, so it wasn't HR, and it was three weeks after people left, and we paid them for their time, and we got much better data.

[00:35:31] Ben Brooks: They got a cooling off period, and so this data you can leverage to know that development is a challenge that makes people say, I'm out of here.

[00:35:42] Bola Akinola: Just calling attention really quickly. Our amazing director of marketing Liz has asked if you want to know more about our values and about what PILOT can do to help you with all of this, just go ahead and type values into the chat space.

[00:35:55] Bola Akinola: Thanks, Liz.

[00:35:56] Ben Brooks: We got five cool values, VITOS, V I T O S, so you can learn what [00:36:00] all the VITOS are, including Vibrant and Striving and some others. We're happy to share those and and give those away. Absolutely. Go to the next slide. Poll time!

[00:36:11] Bola Akinola: Another poll for you. Do you have data in your organization that tells you why people are leaving your company?

[00:36:16] Bola Akinola: So we've seen some people stepping into this a little early, right? Looking at exit interviews, looking at, how to leverage them, making sure that we use them effectively. So do you have data that tells you why people are leaving your company? This is a great question. Keep those answers coming in.

[00:36:34] Bola Akinola: Coming in quickly. I like it.

[00:36:35] Ben Brooks: And Marianne asked a question about slides being available. Yes, we're recording and slides. I'm glad it's good info for you. Absolutely. About all of that. .

[00:36:43] Bola Akinola: We'll close the poll in 5, 4, 3, 2, 1. Let's take a look at the results.

[00:36:55] Ben Brooks: So look, the majority of you have some [00:37:00] sense of why people are leaving.

[00:37:03] Ben Brooks: Because if we're just sitting there it's a mystery. Right? What do we do? And then what we do is often the thing that's the most feasible, which is typically to throw money. But to Dana's point, if someone is having issues because they don't have fair expectations, or they need flexibility, or they want better feedback.

[00:37:19] Ben Brooks: or they want variety or they want stability, right? They want a freaking strategy or a plan. They want clear communication or they want to be treated with dignity, right? This is the railroad workers, right? And they were going to strike. They're like, look, I don't have stability. I don't know when I'm going to freaking work.

[00:37:36] Ben Brooks: You call me and I'm supposed to be on a train in four hours and I'm gone for three days. I can't even manage my life, take care of my kids, go to the doctor, right? That would be data about why people are leaving, and you can change that if you change your scheduling system.

[00:37:50] Bola Akinola: And thank you to those of you who are answering a little bit more completely in the chat space, right?

[00:37:55] Bola Akinola: So Lindsay said, yes, we have that data, assuming employees are being honest, right? [00:38:00] About during performance reviews and check ins. And then Mike asks legitimately what tools are available to determine honestly, honesty, right? In the feedback space.

[00:38:09] Ben Brooks: And I'll say, Mike, around that, that, doing surveys where you aggregate the data, and if employees understand how it's used, that it's not going to say that Mike Kennedy said X, right. But the way at, you let them understand the math, the methodologies, but importantly, you also make sure that they know that their responses are being read and the data is being shared with executive management.

[00:38:27] Ben Brooks: And you do something about it because the, you typically have employees. If they're scared of being let go, everyone's going to fill out an engagement survey and say they're super happy. When there's layoffs, engagement goes up, but it's not that people are more engaged if they don't want to be seen as a naysayer or negative because they don't want to be let go.

[00:38:45] Ben Brooks: Very common. If you've seen that in your career, put a plus one in the chat but very common. And the other thing is that you want to create the conditions. You often get better feedback in a one to one dynamic with psychological safety established. So with PILOT, we teach managers about having career conversations, and it's [00:39:00] this EARS model, E A R S, just like these two.

[00:39:02] Ben Brooks: So you want to be a little bit less hippo and more elephant, you want to listen more in those conversations, the first E in the EARS model is establish. You have to establish psychological safety, establish intent. This isn't this accusatory, BOLA. So you're, you think you're better than this place?

[00:39:17] Ben Brooks: It's not a great way to get honest feedback. Saying like Bola do you ever think about Mary's questions are great ways. The individual connection and the trust in the relationship often might get you the best feedback. It's a little less scalable, but it's far more effective.

[00:39:32] Ben Brooks: Let's go to the next slide. Okay, so we got to band together. We've got to get HR, the executive team, and managers, because turnover can't be just one person's effort. It's a team approach. And if we're burning all this money, because it's costing HR a lot of money, it's costing the business a lot of money, or the organization, it's costing managers a lot of pain and suffering, and it's causing employees a lot of strife and burnout, [00:40:00] right?

[00:40:00] Ben Brooks: If we had a thing if this was a public health emergency, right? Who might call it an epidemic, right? Think of like fentanyl and, oxy and overdoses and things like that. It's an epidemic and you can't just be like, oh we're going to do this one thing with paramedics or firefighters.

[00:40:17] Ben Brooks: Like, no. What's like this also ties to people not having jobs. This also ties to people being lonely. This also ties to mental health. This also helps ties to border security, like it becomes multifaceted, right? When you have a nubby problem and retention is a nubby problem.

[00:40:32] Ben Brooks: So you can't do this without in bringing on your co sponsors, right? If this was the Congress, we said the State of the Union this week, you've got to pass legislation, right? The best legislation is bipartisan. You get people from different groups coming together to align on a thing. Very powerful.

[00:40:48] Ben Brooks: right? So you got to get people to realize why it's in their interest to do this as well. Now, where do you start? Okay, you know why they're leaving, most of you. [00:41:00] You build the business case based on all the data we showed you and all the financials, but then what do you do? If you've got a 10,000 person workforce, that's a challenge.

[00:41:09] Ben Brooks: That's a challenge to say we're going to do a retention strategy for 10, 000 people. Maybe not in year one. I'm a pragmatist. So what would you do to say, of the 10, 000, like a heat map, where do we focus, right? Given epidemics, like, where are the people that we can either help the most or that need the most help, right?

[00:41:30] Ben Brooks: You might look at it that way. So this could be your exit interview, your talent review, your turnover, your absenteeism, productivity, week management. Okay. Engagement scores that will help you figure out, oh my gosh, we've got a turnover issue at people that are at level three. We got a turnover issue when people hit two and a half years, they get the itch.

[00:41:47] Ben Brooks: We see a ton of turnover after two and a half years. We got a turnover issue in the southeast region or the northwest region, right? So that's where, you want to look and use the data to say, let's target a group [00:42:00] because you're not going to have endless resources. I have never met an HR person that says, I am fat, dumb and happy with this budget.

[00:42:06] Ben Brooks: I am swimming in money, right? I'm like a pig in mud. We don't see that in HR. We always have limited resources. Organizations have limited resources. So we have to prioritize our efforts. And when you use data, you get out of the, pissing contest on a Zoom or Teams or in a conference room.

[00:42:24] Ben Brooks: This or that, or we say here's what the data shows. Do we believe the data? If not, we need to look at that. But then it all of a sudden is less of what Bola wants. Or what Ben wants, and it's more what the organization needs to do.

[00:42:39] Ben Brooks: Thank you, AC, by the way, for your comments as well.

[00:42:42] Ben Brooks: And David, right? Hey, David's got a great thing about asking why and digging deeper, right? More work. Now, the big thing is do you people see a dead end, right? Look at the person on the left. They're at a dead end. They're down an alleyway, right?

[00:42:56] Ben Brooks: They're in there at a dead end. When people are at a dead end, they [00:43:00] get out, they turn around, they leave, or think about someone that's vibrant. They're excited about the future. Maybe they're shopping for groceries. I don't know. But but you've got someone who's excited and there's possibility, right?

[00:43:09] Ben Brooks: They have ingredients for their career. They can make something. That's what's fun about being at Whole Foods or the grocery store or Wegmans or wherever you shop Safeway, you know? is that you get to think about the future. There's something you can do. There's a lot in the cover, right? And careers are, like, ingredients.

[00:43:24] Ben Brooks: There's so much you can do, but if you're always used to just cooking chicken breast and broccoli, you don't always realize there's more you can do. So the best way is to grow and challenge employees, right? When people say, how was work today, honey? Or roommate, or friend, or sister, or brother. You want them to be like, a great day at work is typically not boring, disconnected, lounge show, struggle bus, goat rope, like all the things people might say.

[00:43:52] Ben Brooks: It's, hey, I got recognition. I was challenged. I learned something new. I'm working on this exciting new project. I got to present [00:44:00] at the meeting. I got some great feedback. Thank you. I feel like I'm learning something new, right? Thinking about people blossoming where they are. Go to the next slide. And to do this, to challenge and grow people, you often need to invest in development programs, right?

[00:44:19] Ben Brooks: PILOT is a way you can do that, but there's a lot of other ways you can do that. You can build them, you can buy them, you can partner with folks on that, but employees, if they're saying, I'm not growing, and if your managers aren't that great at growing employees, Just saying to managers, you better grow your employees is not really going to make you successful.

[00:44:37] Ben Brooks: So you have to think about, okay how do we skill up our managers? How do we have employees take more ownership for their career and their career development? And by the way, sometimes that's a tough message to hear internally because employees are like, well screw you, aren't you doing something? But in reality, we have to have employees be more self directed and own more of their careers.

[00:44:52] Ben Brooks: Sometimes that's an easier message when it comes from an outside party. When we say it at PILOT and we're positioned as their, group coaching and career [00:45:00] development thing, they're like, that's a great point. You're really helping me think differently. And wow, you're really stretching my paradigm here.

[00:45:06] Ben Brooks: When they hear it from their manager HR, it's like, oh, well, why aren't you doing this? And it gets very personal. So sometimes the messenger matters, but if you have the data from the engagement, most of you said, you know why people are quitting. And if it's aligned with development or feedback or getting the resources they need to advance their career, which it often is in most engagement surveys.

[00:45:25] Ben Brooks: You learn something and you do something becomes a powerful, feedback loop. Wow, y'all are really clear about what you need, and we're doing something about it, but it can't be overspending a year designing an employee career development program that you're going to get next year.

[00:45:42] Ben Brooks: Because they're just going to quit, they're not going to wait a year. So you've got to be fast on this. It's often buying something is better than building it from scratch and even more efficient, because you want to get it out there, quick. OKR was mentioned in the chat, objective and key result and the objective is a high level statement and the key result is a [00:46:00] measurable milestone that you got there, so you might have an objective to reduce employee turnover and the key result is to move turnover, involuntary turnover, or voluntary from 20 to 10 percent. That's how an objective and a key result work together. Bola?

[00:46:13] Bola Akinola: So here's an opportunity to read more. And get some great information that Ben has provided, right? So if you go ahead and grab this this code, give you more information around making sure that you're set up to ask for things successfully, right? Get buy in.

[00:46:31] Bola Akinola: Get some more research information, right? So the title of this ebook is how to buy HR tech, getting started with strategy, right? So here's your -

[00:46:39] Ben Brooks: link in the chat too. So if you're not a QR code person, you're like, Oh my goodness, I'm not at a restaurant. I don't want to do this. Fine.

[00:46:45] Ben Brooks: Go to the chat. There's a link there too, but this is a free resource that you can share. You can share this with your fellow HR colleagues or people in finance or operations. And so this is something you can share and it's from a reputable organization, HR executive, right? They don't [00:47:00] let us publish anything.

[00:47:00] Ben Brooks: They edit the crap out of it. They hold us to account, we're saying, hey, go develop employees and invest in a program. You're like, okay, that's nice advice. Then how do I do that? We got the how to guy right here. Go to the next slide and thank you Danielle, for the compliment. Audrey, it sounds like you're a frequent flyer with PILOT, so we like that keep coming back.

[00:47:18] Ben Brooks: But we've gotta teach employees how to water their own brown grass. Right? You talk about employees, talk about the grass is greener, right? We fetishize and fantasize around things that are new. New romantic partners, new friends, new houses to live in. Why do you think people are on Zillow all the time?

[00:47:35] Ben Brooks: We always think it's going to be new. And then, you know what? We buy that house and we're like, oh my god, the furnace and the freaking roof. All of a sudden, the fantasy isn't so great. Jobs are no different than that, right? You always think of what could be great about it. And then 60 or 90 days in, you're like the culture around here, or what it takes to get an approval.

[00:47:54] Ben Brooks: I don't even have a frickin corporate card yet. I, I can't even book a conference room. So what we [00:48:00] want to help employees do, their chances of success are much higher. in transforming the job they already have. That's what PILOT helps employees do, right? We started the company, we've got this product called the Job Renovator.

[00:48:10] Ben Brooks: You literally renovate your own job. It's like remodeling your own house. We do that incrementally over six months and employees, it's not radically different where you're in finance, all of a sudden you're in philanthropy. That's not what we're talking about. We're talking about the things that affect where, whether people take the call from the recruiter or accept the job versus people saying, no, I really like my organization and it's getting better and I feel like there's a lot of, growth or potential.

[00:48:31] Ben Brooks: We got to teach employees this paradigm. You don't just blow it up. You don't just walk away, right? This is much more in the marriage counseling space than this is in the Tinder space, right? Recruiting is Tinder, right? PILOT and development programs are coaching, are therapy, are, mentoring.

[00:48:48] Ben Brooks: All of that is about getting better and working with what you already got, which is really key. Let's go to the next slide.

[00:48:55] Bola Akinola: Another great opportunity in our last polling opportunity, right? We want to know, are you feel [00:49:00] prepared to ask for budget and resources? To help prevent attrition.

[00:49:05] Ben Brooks: So we just costed this thing.

[00:49:06] Ben Brooks: Oh my gosh, this is fricking expensive. That's your takeaway. Holy cow, this is expensive. Oh, we need to do something about it. Great. We need to develop people we know they'll leave. They're not getting developed. Okay, I'm gonna read the HRE thing. Okay, I gotta go ask for money now. Can I go ask for money headcount, vendor spend it involvement Internal comms bandwidth?

[00:49:28] Ben Brooks: Yes. No. Maybe yes. No. Maybe yes. No. Maybe yes, no maybe. Love it. Thanks y'all for making me blush with all these compliments. Dean got 40 percent of the ask rate, which is 40 percent more than where you started, right? But also you need to make sure that you're only delivering 40 percent of what you promised.

[00:49:46] Ben Brooks: Now that's the key thing. It's like, okay, great. It's like, you're going to get a, you're not getting a foot long, right? You're getting a four inch sandwich. And so that's a key thing when you're not getting all of it to hold that boundary. Let's go to the next. Let's look at the results.

[00:49:58] Bola Akinola: Let's look at that. Yeah, [00:50:00] real quick. So some people feel ready. Hey.

[00:50:04] Ben Brooks: So we got some more articles about making that ask, right? And asking for budget. So you can always email us for those connect with our team. We've got more resource articles about how to do this, how to make that ask. Yeah. 50 percent of you are either a no or a maybe.

[00:50:18] Ben Brooks: And maybe the yes, you want to sharpen so you get that 40 to a 60 or an 80 or a 100,

[00:50:23] Bola Akinola: yeah, definitely. If you want some more resources, information, want to connect with us, please put a plus one. In the chat space. Great. We want to see, we want to know to get back to you and make sure that we set you up for success.

[00:50:35] Ben Brooks: Let's go to the next slide.

[00:50:36] Ben Brooks: All right, so Smokey the Bear, right? Only you can prevent unwanted employee attrition. You know, we need leaders here. HR needs to be leaders, right? And this is not pretty. People don't get into HR. People get into HR for typically a reason. They want to have an impact, care about people.

[00:50:54] Ben Brooks: They want to have an impact. They want to help drive the organization, the results, the performance, the strategy, the business. [00:51:00] This is, this is not an easy profession to be in, right? There are easier jobs at our company. We probably could all agree with that. This can be a career making thing.

[00:51:08] Ben Brooks: If you figure this out, you'll have a lot of opportunities in HR in your own company, and you'll have a lot of opportunities in the future. Because you can say, hey, I'll turn the tide on, attrition, and it saved us a ton of money, and we improved our employee experience to boot. NDEI typically.

[00:51:23] Ben Brooks: Let's go to the next slide.

[00:51:24] Bola Akinola: All right. So excited to have been with you today. Again, drop a plus one in chat or go right ahead and grab this scan code. One of several ways to make sure that we get back in touch with you and you stay in communication with us. Get on Twitter, get on LinkedIn, follow Ben.

[00:51:42] Bola Akinola: So many insightful posts during the course of the day, you will see how much it adds to your day and on behalf of our amazing producer, Helen, our supermarket, our supermarket, our marketing director.

[00:51:55] Ben Brooks: Supermarketing director. You saw the vegetables and that woman was holding the vegetables. We got you in Whole [00:52:00] Foods.

[00:52:00] Ben Brooks: You're in Whole Foods right now. You're on Trader Joe's.

[00:52:03] Bola Akinola: Yeah. And of course, on behalf of our amazing CEO and founder Ben Brooks, we thank you for spending time with us today. I want to make sure before everyone goes that we address all questions.

[00:52:17] Ben Brooks: And I got a bonus ask, right? Since I'm, since we're talking about asking for something, I'm going to model advocacy.

[00:52:23] Ben Brooks: I would love to know for feedback your biggest takeaway or one of the biggest. The thing you take away, like one sentence, one word, like you just spent an hour with us. We covered a ton of information. We're so passionate about this, but what is the thing when you leave and you have to summarize this down to a tweet, a bullet point, a sentence, a word, what is that thing?

[00:52:45] Ben Brooks: This is helpful feedback for Helen and Bola and Liz and myself.

[00:52:50] Ben Brooks: The under the water, the cost. Okay. Cost of turnover, right?

[00:52:54] Bola Akinola: I think there's a SHRM question.

[00:52:57] Ben Brooks: Yeah, we don't have professional development credits yet. We're [00:53:00] working on that. So unfortunately, we don't but I promise you worth every bit of business and we're working on that as well. We got a relationship with SHRM.

[00:53:06] Ben Brooks: Below and above water, right? What can we do better for you? Together. Reasons for turnover. Confirmation of cost. That's a critical issue. Lost revenue. Yeah. More about when they leave is impacted more about than an empty space, right? Finally have a sense of what a true cost of turnover is, which is great, Scott.

[00:53:24] Ben Brooks: We're working on some calculators. We're actually going to debut a calculator pretty soon. So if you just put in the chat the word calculator, we can send that to you or work with you to give you a chance to actually put some of your own numbers in. Average comp and turnover cost. We're actually going to build a whole calculator.

[00:53:40] Ben Brooks: So I'm giving you a little of a preview. I'm a little rogue right now. My team's probably going, oh crap, it's not ready. We're working on it. It's not going to be tomorrow, but we can put you on the waiting list. for it to be the first access to the calculator and we'll set up a time to walk you through it.

[00:53:52] Ben Brooks: So you can have the numbers and you can go to finance with your own data and we'll do that. So just put the word calculator in the chat [00:54:00] for those of you who stayed on as a bonus opportunity. Because again, we're trying to use benchmarks and you might say, Hey, the cost of turnover at our organization is 50%, not a hundred.

[00:54:07] Ben Brooks: That'll be in the calculator. So you can actually change those variables. The average cost is this. We use your assumptions. So then it's believable math for your industry. So if you want early access, I'm giving this to you, early access. This is especially, we didn't plan this, so I'm going totally rogue, but just know you're lucking out, right?

[00:54:27] Ben Brooks: This is what happens when you stay a little bit after the show, right? Good things happen, right? So this is the after the show. I will just mention a couple other things, right? Using the data to quantify the true costs, time to competency, right? That seems like a big one. It wasn't even fully in the deck.

[00:54:42] Ben Brooks: That may be something we want to add in the future. Thank you. Things we take for granted, right? Ripple effect, hidden cost, right? Eat the frog and quantify the numbers, right? And get to the C suite. All right. quantifying, right? Miss the half first half's a reason. So Fred, we'll have the recording in [00:55:00] the deck for you as well.

[00:55:01] Ben Brooks: Seems like a lot of you are interested in the calculator, so we'll make sure that we get you first access. We'll probably have you walk through with one of our team members some of the numbers so we can get you the output and just make sure that you understand the math because it's important if you're going to go show math to someone else in your organization, that you feel comfortable.

[00:55:17] Ben Brooks: Understanding the numbers and how it's calculated, because then you'll really be this data driven HR leader and the strategic seat. And so we'll have one of our colleagues actually help you with this, which I think will be really a great partnership, quick conversation, and you'll have an output. You won't have to become a spreadsheet genius because not everyone's super great with all of that.

[00:55:35] Ben Brooks: We got some spreadsheet geniuses on our side. They're building a repeatable thing. Just know that this is, it sounds like there's a lot of energy, but again, I've not offered this to anyone ever before. So you literally are the - this is the secret list you're on. So if you've got other colleagues that you'd like to have on the secret list, you can email us at [email protected]. So someone put [email protected] in the chat. [00:56:00] That's another great place where you can email us and we can put you on the list or a colleague, you can say, Hey, I know my colleague, Sarah, I work at Panera and she works at Enterprise Rent a Car and we're both in St. Louis. Great.

[00:56:10] Ben Brooks: Introduce us so we can get her that as well or him or whoever that might be. But but this is something that we've been working on. We're excited because that's what the research said to us was, boy, everyone's yeah, this is conceptual. But I never have a number. And then everyone just complains that the number isn't right.

[00:56:25] Ben Brooks: So we want to start to have you get a number, which may not be perfect, but it's going to be directionally correct. And then that number, you can say, we got to do something, right? I can't have an HR budget that's shrinking. If you want me to address turnover, I can't keep my head count flat, right? We can't do all this stuff.

[00:56:43] Ben Brooks: And oh, by the way, we're already spending the money. We're just wasting it rather than investing it. It's an expense. rather than investment. We want to get in front of that. Oh, Danielle's already meeting with Jeff. Jeff is fantastic, one of our great partnership professionals and has worked, at, LinkedIn and Glint and a bunch of other organizations, knows [00:57:00] HR well.

[00:57:00] Ben Brooks: Josh, one of our other professionals, knows HR from multiple companies as well. Leighton, you're going to maybe hear from as well. Leighton is one of the most delightful people you'll talk to. He's a friendly, So you can just answer his call if you hear from him, he's a real nice guy and a real smart guy.

[00:57:14] Ben Brooks: But yes any last questions we can answer. We're wrapping up but Ray asked about the recording Ray we will get the recording out and then Vicki put in the live Q& A that she'd like the the calculator. I'll just put Vicki's name in the chat so we've got it in our record.

[00:57:34] Bola Akinola: Thank you all so much.

[00:57:36] Ben Brooks: Yeah, vibe check. How we feel like, drop an emoji or feeling on the way out. That's your, that's now we have to get you on to the rest of your day. So like emoji, emojis or feelings, where are we at? What's your color? What's your sports team, right? We got, oh, we got the emoji crew here.

[00:57:50] Ben Brooks: Oh, all right. I gotta get a little closer. My, these are a little tiny on the screen. Make sure there's not the skull, the skeleton or anything like that, or coffin. I don't want that, Wow. It gets greens. I've just got my favorite colors. Green hearts. I [00:58:00] love that. More requests for that calculator. Ray wants the calculator as well.

[00:58:04] Bola Akinola: Yeah, that calculator is going to be clutch for everyone. Thank you all so much for being with us today. Yeah, we appreciate your energy. You're listening and we'll be in communication really soon. Stay in communication with us. Follow Ben on LinkedIn on Twitter.

[00:58:18] Ben Brooks: We share a lot.

[00:58:18] Ben Brooks: We got, the nephews are up there on Twitter today. I just put them up. So if you want to see the Ben Brooks NY, Ben Brooks NY is my, my we'll put it on the, maybe the last slide here for a future thing, but on Instagram and Twitter, if you want that, but LinkedIn is where we share a lot of the career resources.

[00:58:31] Ben Brooks: So you'll see, future webinars, talks, articles, et cetera. And we'll help you with that. So but yeah thanks everyone.