Retention Excellence: Measuring and Minimizing Turnover for Customer-facing Employees

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"Retention Excellence: Measuring and Minimizing Turnover fro Customer-facing Employees"

Study Overview
Executives managing hourly employees often face operational inefficiencies from high employee turnover. Companies in all industries use benchmark metrics to evaluate and optimize employee retention and accelerate workforce productivity. This 28-page slide presentation reveals turnover rates for customer-facing full-time and part-time employees segmented by retail, financial services and other industries. It graphs employee turnover in the following three categories: Internal movement (employee changes positions within the company); Voluntary external turnover (employee chooses to leave the company); Involuntary turnover (employee is terminated by the employer). The document also includes best-in-class retention programs and methods used at leading companies today.

Key Findings

This research document provides personnel managers with metrics to assess internal workforce productivity and retention programs most used and most effective. Select key findings from this research include:

1. Turnover rates are typically higher for part-time employees than for full-time employees. For example, involuntary turnover is on average 34% for part-time and 23% for full-time workers.
2. For full-time employees, turnover rates are highest for voluntary external turnover. For part-time workers, involuntary turnover is reported the highest among participants.
3. Flexible work hours, special rewards & recognition and cash bonuses are the best retention methods for part-time workers; for full-time employees, company benefits, increased opportunity and pay-raise incentives rank the highest in retention effectiveness.

Methodology
The benchmark study was conducted on behalf of Best Practices, LLC's Business Excellence Board.

Industries Profiled:
Financial Services; Banking; Retail; Service; Transportation; Telecommunications; Energy; Utilities; Manufacturing; Health Care


Companies Profiled:
Washington Mutual; Commerce Bank; Bank of America; Direct Wireless; Carolina First Bank; Flight Centre Limited; AAFES; Hancock Bank; Citizens National Bank; Kleenmaid; National City; Union Bank of California; Saybrook Capital; American Commercial Security Services; Verizon; AmeriGas Propane; USAA; Art Van Furniture; Sprint; CoBiz Inc.; Qualex; Credit Clearing House; Old Mutual Group; FAL; Krispy Kreme Doughnut Corp.; Family Dollar; First Data Corporation; HCS; Inc.; PETCO

Cover Page	Benchmark Class
Survey Overview	Sample Page 1

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