Empower Employee Progress with Top Annual Review Templates for Success

April 14, 2023 - 10 min read

Wrike Team

Annual employee reviews are essential to the growth and success of a company. They provide valuable insight into performance, strengths, and areas for improvement. Moreover, they allow managers to identify goals and expectations for the upcoming year.

However, the process of conducting annual reviews can be time-consuming and challenging. To make this process more efficient, many companies use review templates that enable them to provide structured, consistent feedback.

In this article, we will discuss the importance of annual employee reviews, the key components of an annual review template, four effective sample templates, and how to customize yours to your company’s liking.

Boost your company's growth by implementing impactful annual employee reviews using Wrike's advanced project management tools. Embrace systematic feedback generation and create custom templates with a 14-day free trial of Wrike.

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The Importance of Annual Employee Reviews

Annual reviews are crucial as they help both employees and managers evaluate performance objectively. They offer an opportunity for constructive criticism and feedback to help employees capitalize on their strengths and overcome their weaknesses. Furthermore, annual reviews can also provide insights into how team members can improve their performance to meet organizational goals while fostering a culture of transparency and openness.

Boosting Employee Morale and Engagement

Annual reviews help to boost morale and engagement, as well as productivity levels.

For example, an employee may have been struggling with a particular task but was afraid to ask for help. During the review, the manager can show they care by providing assistance and resources to help the team member overcome the challenge. Doing so helps to foster an atmosphere of openness and transparency, where teammates can feel free to discuss areas where they need additional support.

Another way annual reviews boost morale and engagement is by recognizing and rewarding employees for their hard work. A positive review can include praise for a job well done, which can motivate employees to continue performing at a high level.

Identifying Strengths and Areas for Improvement

Effective annual reviews should identify an employee’s strengths and areas for improvement. This feedback allows them to identify their areas of expertise and work towards developing those that require improvement. Additionally, it enables managers to recognize employees who have the potential to take on more responsibility or move up the ranks, making succession planning more straightforward.

For instance, an employee may have excellent communication skills and work well in a team. The manager can recognize this strength and assign them to lead a project that requires these skills. This benefits the employee by providing them with a leadership opportunity and helps the company by ensuring the project's success. On the other hand, managers can also provide resources and support to assist team members struggling with time management, as this would boost their confidence.

Setting Clear Goals and Expectations

One of the key benefits of annual reviews is that they provide an opportunity to set clear goals and expectations with employees. By clarifying expectations, team members can focus on what is most important in their roles and what is expected of them to achieve success. This can serve as a motivator, helping your team members work towards and achieve defined goals with their personal growth and the success of the company in mind.

During the review, the manager can work with the employee to set specific goals. The purpose is to set goals that are realistic and achievable and ensure that the employee has a clear understanding of job expectations.

Moreover, setting clear goals and expectations can help the company achieve its objectives. If the company is looking to increase sales, the manager can set a goal for the employee to generate a specific amount of revenue in the next quarter.

Key Components of an Effective Annual Review Template

A well-designed annual review template affirms that the process is fair and consistent across the organization. It also provides a structured approach to performance management, which helps to align employee goals with organizational objectives. Here are some of the key components of an effective annual review template:

Employee Self-Assessment

An employee self-assessment is a valuable tool that allows employees to reflect on their performance and growth within the organization. It encourages team members to take ownership of their professional development and identify areas where they can improve.

During the self-assessment, employees can reflect on their accomplishments, challenges, and areas for improvement. They can also evaluate their manager's performance and suggest ways to improve the working relationship. This feedback can help managers understand their employees' perspectives and make adjustments to their management style where necessary.

Manager's Assessment

The manager's assessment is another critical component of the performance review process. It serves as a chance for them to provide honest, specific, and actionable feedback on performance and any areas for improvement.

Managers should review performance against the goals and objectives set at the beginning of the year. They should also consider the employee's contributions to the team and the organization as a whole.

Goal Setting and Performance Metrics

Goal setting and performance metrics are necessary parts of an effective review template. These components help to motivate team members and allow them to feel in control of their work. Simultaneously, they allow management opportunities to coach where needed and an efficient way to track progress and measure success over time.

It’s recommended for managers to work with employees to set goals for the upcoming year, essentially creating a roadmap to success. Remember to align these goals with the organization's objectives and the individual person’s career aspirations. You can track goals using project management software tools like Wrike. With an online project management tracker, OKR tracking becomes automated and real-time project progress becomes effortless.

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Professional Development Opportunities

An effective performance review must also include professional development opportunities. It should allow employees to suggest ideas for potential training or development opportunities, as companies should emphasize a focus on ongoing learning and development. By offering insights into future growth opportunities, employees can feel more engaged and committed to the company's future ambitions.

While in the review process, managers should discuss potential development opportunities with employees, such as training programs, mentoring, or job shadowing. In the long term, employees can reach their full potential and contribute more effectively to the organization.

Top Annual Review Templates for Success

Creating an effective review template can be challenging. To help you get started, here are four top annual review templates for success:

The Balanced Scorecard Approach

The balanced scorecard approach is a methodology that measures an organization's performance from a strategic perspective. Here, managers create objectives and key performance indicators (KPIs) for individual employees that align with organizational goals. By doing so, the review template is uniquely aligned with the company's ideal outcomes and contributes to employee growth in the organization's desired target areas.

For example, if a company values customer satisfaction, an employee's KPIs may include customer feedback and retention metrics.

The 360-Degree Feedback Model

The 360-degree feedback model utilizes insights from managers, peers, customers, and other lines of management. By incorporating suggestions from other perspectives into employee reviews, immediate managers gain a more holistic perspective of the behavior, skills, and knowledge they may reflect in their job. Receiving feedback directly from those whom they interact with daily also helps employees gain more self-awareness regarding possible areas of improvement.

A peer may critique an employee's communication skills, while a customer may offer insights into their product knowledge and responsiveness. This allows for a more comprehensive view of an employee's performance and can lead to more targeted development plans.

The Management by Objectives (MBO) Method

The MBO method is a performance management technique that focuses on setting and achieving annual goals through collaboration between managers and employees. In an MBO review, managers and employees work together to create personalized objectives for the year that are measurable and achievable.

Employees may set a goal to improve their project management skills, aligning with the company's objective to increase efficiency and productivity. By working collaboratively with their manager, the employee can create a plan to achieve this goal, including attending training sessions or shadowing a more experienced colleague.

The SMART Goals Framework

The SMART goals framework is a rigorous tool that improves goal-setting techniques for both managers and employees. Recall that SMART goals are Specific, Measurable, Attainable, Relevant, and Timely. This technique ensures that objective setting is transparent for both employees and managers and adds structure and accountability to the goals and objectives. By adhering to these principles, employees are more able to track progress, and managers can motivate employees to achieve greater performance more effectively.

Instead of setting a general goal to "improve communication skills," an employee may set a SMART goal to "increase the number of successful sales calls by 10% in the next quarter by improving active listening skills and asking open-ended questions." This approach provides a clear and measurable objective that both the employee and manager can track and evaluate.

Customizing Your Annual Review Template

Aligning with Company Culture and Values

Customizing review templates makes alignment with the culture and values of the organization much easier. By taking these attributes into account, the review process is tied to the goals of the company, creating a sense of shared understanding and buy-in. This customized approach also helps managers reflect upon the company's values in their feedback to employees, reinforcing commitment to those values within the review process.

Incorporating Employee Feedback

In order to make the review process more effective, it is essential to incorporate feedback from employees themselves. Management should regularly seek this feedback as it can help tailor review policies to individual employee needs. It can also allow for a more nuanced perspective on how to deliver effective and motivating suggestions for better results.

Adapting to Different Roles and Departments

It's important to keep in mind that the process of conducting annual reviews can vary depending upon the role and department of individual employees. Team leaders may require a different template or specific areas focused on that may not be useful for staff within a different department. Therefore, companies should always create templates that can fit specific needs to align with the organizational mission and vision.

Empowering Employee Progress with Top Annual Review Templates for Success

Effective annual review templates are essential in empowering employee progress. By providing a structured and effective review process, they help employees understand their strengths and areas for improvement, motivate them to perform at the highest level, and align employee goals with the company's mission and vision.

Annual reviews also provide a framework for honest and constructive feedback. This encourages teams to work towards meeting performance objectives, improving quality and productivity, and developing their professional potential. By leveraging the top review processes and customizing them to your team's needs, you can create a more engaged and motivated workforce that empowers progress and moves your business forward.

Enhance your team's growth and performance with strategic annual review templates crafted in Wrike's advanced platform. Begin your free trial now to facilitate productive discussions and continuous development that drives success.

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Note: This article was created with the assistance of an AI engine. It has been reviewed and revised by our team of experts to ensure accuracy and quality.

Wrike Team

Occasionally we write blog posts where multiple people contribute. Since our idea of having a gladiator arena where contributors would fight to the death to win total authorship wasn’t approved by HR, this was the compromise.

#leaders #Human Resources

Leadership 10 min read

The Ultimate New Employee Onboarding Template for a Smooth Start

Starting a new job can be an overwhelming experience for any employee. From learning new faces and names to getting up to speed with company policies and procedures, the first few days on the job can have a significant impact on their overall experience with the company. That's where effective onboarding comes in. In this article, we'll cover the importance of onboarding, the key elements of a successful onboarding template, how to customize a plan to meet your company's unique needs, and best practices for implementation. Transform your new employee onboarding process with Wrike's intuitive work management tools. Craft bespoke onboarding templates and optimize every step of the way with a 14-day free trial of Wrike. Try Wrike for free Understanding the Importance of Effective Onboarding Effective onboarding goes far beyond simply introducing new hires to their coworkers and giving them a tour of the office. A well-structured onboarding process can set the stage for a positive and productive work experience, while a haphazard or nonexistent process can have the opposite effect. During onboarding, new employees should be given a comprehensive overview of the company's mission, values, and culture. This will help them understand how their role fits into the bigger picture and what they can do to contribute to the organization's success. Additionally, new hires should be introduced to their team members and given the opportunity to ask questions and get to know their new colleagues. The benefits of a well-structured onboarding process Here are some benefits of having a strong onboarding process: Increased productivity and efficiency: When new employees have a clear understanding of their roles and responsibilities, they are better equipped to get up to speed and start contributing to the company as quickly as possible. They can start making a positive impact on the company's bottom line sooner, which can help to justify the investment in their training and development. Improved employee retention: Employees are more likely to stay with an organization that has invested in their success from the start. By providing new hires with a supportive and engaging onboarding experience, companies can help to build a sense of loyalty and commitment among their employees. This can reduce turnover rates and save money on recruitment and training costs. Higher employee satisfaction: Starting a new job can be stressful, but an effective onboarding process can help ease some of the anxiety that new hires may feel. By providing them with the information and resources they need to succeed, companies can help new employees feel more confident and empowered in their roles. The impact of onboarding on employee retention and satisfaction The first few weeks on the job are critical to establishing a positive employee experience. This means that companies that invest in their onboarding process are more likely to retain their top talent and build a strong, loyal workforce. A good onboarding experience can also have a positive impact on employee satisfaction. When new hires feel supported and valued by their employer, they are more likely to be engaged and motivated in their work. This can lead to higher levels of job satisfaction, which means better performance and productivity in the long term. Key Elements of a Successful Onboarding Template Now that we've established the importance of onboarding, let's take a closer look at the key elements that should be included in any effective onboarding template. Preparing for the new employee's arrival The onboarding process begins long before the employee's first day on the job. Assign someone to reach out and confirm their start date and time. Parking or transportation information should also be provided, along with any necessary paperwork or instructions. This will help new employees feel prepared and excited to start their new role. Also, think about sending a welcome email or package to the new employee prior to their start date. This could include a welcome letter from the CEO, company swag, or other small gifts to make the new employee feel welcomed and valued. First-day essentials On the employee's first day, make sure to treat them like a priority. Assign a point of contact to greet and guide them through the onboarding process. This could include a tour of the office, introductions to key team members, and an overview of company policies and procedures. Organize a welcome breakfast or lunch for the new hire to meet their new colleagues and start building relationships. A positive way to “break the ice” can help new team members feel more comfortable and connected to their colleagues from the outset. Setting clear expectations and goals New employees should have a clear understanding of their roles and responsibilities, as well as the goals they need to achieve in order to be successful. Setting concrete expectations and goals helps instill confidence in their abilities and an understanding of how they fit into the bigger picture; this can be done through an individual meeting with the new team member’s manager. Providing necessary resources and support New hires will need access to certain tools and resources to do their jobs effectively. Make sure they have everything they need in terms of technology, equipment, and training to get started. Assign a mentor or buddy to answer any questions they might have and provide support as needed. Create a training schedule for the new employee to ensure they receive all necessary training in a timely manner. This serves as an opportunity for them to ask clarification questions, which could reduce the likelihood of mistakes or misunderstandings in the future. While you could outline this process in excel or in a written format, you can make the process much easier through the implementation of a project management tool like Wrike. To illustrate some of Wrike’s capabilities, here's a snapshot of how projects are managed using a Gantt chart. Using a workflow like this can be particularly useful in planning and visualizing the onboarding process timeline. Try Wrike for free Ongoing communication and feedback Remember that the onboarding process shouldn't end after the first week or two on the job. Regular communication and feedback are critical to providing a supportive framework that encourages new employees to achieve their goals. Schedule regular check-ins to provide feedback, answer questions, and address any concerns new employees may have. Creating a Customized Onboarding Plan Since each company has unique needs, consider the following steps when customizing your onboarding process: Assessing your company's unique needs Prior to crafting your plan, assess your company's current onboarding process, especially the strengths and areas for improvement. Also consider taking the time to evaluate your organization’s culture and values, as well as the specific needs of each role within the company. If your company culture values collaboration and teamwork, you may want to incorporate team-building activities into your onboarding process. Alternatively, if your company is fast-paced and deadline-driven, you may want to focus on time management and prioritization skills. Tailoring the onboarding process to different roles Not all onboarding processes are created equal. Different roles within the company may require different training or resources. Tailor the onboarding process to meet the specific needs of each role, ensuring that new hires will have the skills and knowledge they need to succeed. If you're onboarding a salesperson, you may want to focus on product knowledge and sales techniques. On the other hand, if you're onboarding a software developer, you may want to emphasize coding best practices and software architecture. Incorporating company culture and values Effective onboarding goes beyond simply teaching new hires the nuts and bolts of their job. It should also include an introduction to the organization's culture and values, as this aids employees in understanding what makes the company unique and how they can contribute to its success. One way to do so is to have new teammates meet with key stakeholders within the company. This could include the CEO, department heads, or other senior leaders. These meetings can help new employees understand the company's values and goals, as well as their role in achieving them. Another way involves having new hires participate in team-building activities. These activities can help them feel like part of the team and understand how their role fits into the larger picture. Best Practices for Implementing Your Onboarding Template Here are some best practices to consider when implementing your customized onboarding template: Assigning a dedicated onboarding mentor or buddy Setting up a mentorship program or buddy system serves as an excellent way to provide ongoing support and guidance to new employees. In addition, there is potential for a more seamless integration into the company and fostering a sense of connection with colleagues. For instance, the mentor or buddy can help answer questions, provide guidance, and offer support throughout onboarding. This person should be someone who is knowledgeable about the company culture, policies, and procedures. They should be approachable and available to help the new hire navigate any challenges or concerns that may arise. The onboarding mentor or buddy can also help the new hire build relationships within the company. They can introduce the new employee to colleagues and facilitate introductions. Encouraging team-building activities and socialization Creating opportunities for new hires to get to know their colleagues and build relationships can help ease the transition into a new job and foster a positive company culture. Hosting team-building activities or social events, such as team lunches, happy hours, or volunteer events, can be fun and engaging, while also providing new team members with a chance to connect with their colleagues on a more personal level. Regularly evaluating and updating your onboarding process Onboarding should be an ongoing endeavor. Regularly evaluate your process to identify areas for improvement and make updates as needed. Gather feedback from new hires to better understand their experiences and identify areas for improvement. This feedback can be collected through surveys, focus groups, or one-on-one conversations. Use this valuable feedback to make updates to your onboarding procedures, such as adding new training modules, adjusting the length of the onboarding period, or incorporating new team-building activities. By following these key elements and best practices, your organization can create an effective onboarding process that sets new hires up for success and contributes to overall employee satisfaction and retention. Give your new hires a seamless onboarding experience with tailor-made onboarding templates in Wrike. Start your free trial today and accelerate the integration of new talent, promoting a motivated workforce. Try Wrike for free Note: This article was created with the assistance of an AI engine. It has been reviewed and revised by our team of experts to ensure accuracy and quality.

Leadership 7 min read

A Guide to Transition Plans

In a constantly evolving job market, change is inevitable. Whether it’s a career change, retirement, relocation, or business shift, transition is a part of life. A well-structured transition plan can simplify the daunting task of making a big change. In this article, we will explore how to develop a successful transition plan. Understanding the importance of a transition plan Transition planning is a crucial component for achieving success in any life change situation. Without a plan, you may find yourself floundering or struggling to adapt. A good plan helps you navigate your transition confidently with a clear and simple roadmap. Benefits of a well-structured project transition plan Having a transition plan offers immense benefits. It makes you feel more in control, reducing anxiety and uncertainty. This, in turn, can help you to stay focused, leading to increased productivity, improved time management, and reduced stress levels. Furthermore, a transition plan can help you to identify potential roadblocks and challenges before they become significant issues. This will keep you on track to achieving your goals. Identifying the need for a project transition plan A project transition plan is important for professional, personal, or business goals. Knowing this from the beginning can help you prepare for the future. It’s important to identify areas in your life that require a plan for change. These areas may include switching careers, changing relationships, or setting personal goals. Keep in mind that a transition plan is not set in stone and may require adjustments along the way. However, having a plan in place can provide you with the foundation and structure you need to navigate through any life change with confidence. Use Wrike to start a project transition plan Trying to keep all the task planning and tracking in your head or on a spreadsheet can raise anxiety and lower productivity. Remember that there are tools to quickly track, see, and start getting your transition plan in motion. Wrike is one of them. Assess your current project transition situation Next, set aside time to evaluate your current situation. Assess your strengths, find weaknesses, and improve through self-reflection, assessment tools, or feedback from mentors or colleagues. Doing all of these can help you gain an understanding of yourself, your current situation, and how others may perceive you. When self-reflecting, think about your personal and professional goals, values, and motivations. Consider what you enjoy doing, what you’re good at, and what you find challenging. When assessing yourself, try using tools like personality tests, skills assessments, and career aptitude tests to evaluate your strengths and weaknesses. Ultimately, you should use your strengths and work on your weaknesses for an easier transition period. When looking for feedback from trusted mentors or colleagues, ask for an honest opinion regarding your strengths and weaknesses, and listen carefully to what they have to say. Identify areas for improvement Once your areas to improve upon are identified, consider learning new skill sets, finding a mentor, or seeking professional development opportunities. Brainstorm the skills and knowledge you need to succeed in your desired career or life change. You could take courses or attend workshops to develop these skills. You could also look for opportunities to gain experience in areas where you need improvement, such as volunteering or taking on new responsibilities at work. Finding a mentor can also be a valuable way to identify areas for improvement. A mentor can provide you with guidance and advice, especially if they have experience in your desired career or life change and are willing to share their knowledge and expertise with you. Set realistic goals and expectations Maintain focus and ensure a smooth transition with realistic goals and expectations. Take the time to identify what you want to achieve, and set a timeline for achieving it. Break your goals down into smaller, actionable steps, and track your progress along the way. It is also important to celebrate your successes and learn from your failures. Remember that transitions take time and that setbacks are a normal part of the process. Be patient with yourself, and keep your focus on your goals. With hard work and perseverance, you can achieve the life change you desire. Try Wrike for free Develop a clear vision for the future This is a crucial step towards achieving success in any area of life. It will assist you in creating a vision that is not only achievable but also aligned with your core beliefs and priorities. Define your desired outcomes This step allows you to define success on your own terms. Then you can create a roadmap that will guide you toward achieving your goals. Remember to keep your outcomes specific and measurable. This will help you track your progress and make adjustments along the way. It’s also important to consider any potential challenges or obstacles that may arise and have a plan in place to overcome them. Establish a timeline for your transition Timelines help you plan for factors such as finances, personal development, and accountability. Avoid rushing the process, as it can lead to burnout. At the same time, try not to take too long, since it is a gateway to procrastination and loss of motivation. Align your vision with your values and priorities Alignment is a key ingredient in the recipe for long-term success and fulfillment. Reflecting on your values and priorities makes it easier to add in any necessary adjustments and ensure that your goals are sustainable and fulfilling. Create a detailed action plan A comprehensive action plan is the final step to implementing a successful transition plan. This is an essential part of the process, as it keeps everybody on track and addresses problems before they become overwhelming for your team. Break down your goals into manageable steps This helps things fit together smoothly and makes the transition less stressful. It will also create opportunities for you to celebrate your progress incrementally. If your goal is to transition your business to a new software platform, you can break it down into smaller steps, like researching different software options, selecting the best one for your business, training your employees on how to use it, and implementing it. Assign responsibilities and resources This ensures that everybody involved in your transition knows their role — what to do and when to do it. Setting out the necessary parameters like budgets and personnel is a great way to map out your transition. Establish transition plan milestones and deadlines This enables you to measure progress and establish the necessary adjustments to keep you on track to meet your goals. If your objective is to transition to a new software platform within six months, you can establish milestones at the three-month and six-month marks. Conclusion A well-structured transition plan provides a clear roadmap to achieving your goals effortlessly, while an unorganized plan can lead to confusion, frustration, and stress. By understanding the importance of a transition plan, identifying the need for one, assessing your current situation, developing a clear vision, and creating a detailed action plan, you can achieve the life, career, or business transition of your dreams. Follow this guide, and you will be well on your way to transitioning with ease and grace. Master the art of effective transitions by building a seamless transition plan with Wrike’s dynamic work management platform. Begin your free trial now and ensure smooth, well-executed changes within your organization. Try Wrike for free Note: This article was created with the assistance of an AI engine. It has been reviewed and revised by our team of experts to ensure accuracy and quality.

Leadership 10 min read

Employee Retention: The True Cost of Losing Your Best Talent

How do you spot a great manager? It’s someone who fosters a culture of productivity and excellence. Someone who’s fun to work with, and connects with their teammates on a personal level. Someone who knows how to inspire and lead their team to success. In short, someone who makes people want to show up — and stay. Low turnover on your team may make you feel like a successful manager. After all, if you only lose a handful of people on your team each year, you must be doing something right. But what if that high employee retention rate is actually a negative—an indication that you’re failing to challenge employees and creating a culture of complacency? What if the few people you’re losing are actually your best and brightest? Employee turnover already costs US companies $160 billion a year. Replacing an employee can set your company back as much as 2x their annual salary. And with high performers delivering approximately 400% more in productivity than the average employee, losing even a few of your star workers can have an astronomical impact on your bottom line. Not only do high-performers cost more to replace, new research by SAP and Oxford Economics shows that less than half of them are satisfied with their jobs, and 1 in 5 say they're likely to leave in the next six months. Source: HBR It’s time to redefine successful employee engagement and retention. There are many questions to consider when it comes to employee retention, especially when using professional services to hire: are salaries direct costs for professional services firms? Do professional services have to provide proof of workers' compensation? Let’s examine the true cost of losing an employee, beyond the obvious hiring expenses, and uncover the real reasons high-performers and high potentials leave their jobs. Got $13 Billion? The Real Cost of Employee Turnover According to the US Labor Department, the number of Americans who quit their jobs is now the highest it’s been in nearly a decade: 3.1 million people voluntarily left their jobs in January 2017. That employee turnover is expensive. From advertising and recruiting to training and lost productivity, costs add up quickly for organizations that fail to actively invest in their workforce. Hiring costs: Between advertising open positions, screening applications, and interviewing candidates, the recruiting process alone represents a significant expense for companies. It costs $4,000 and takes 52 days on average for US businesses to fill an open position, to the tune of $13 billion a month. Onboarding costs: On average, businesses spend the equivalent of six to nine months of an employee’s salary to locate and train their replacement, not including valuable time spent by management and supervisors during on-the-job training. Lost productivity: These "soft costs" are trickier to quantify, but still have a significant impact on a business' bottom line. New hires simply aren't as productive as the person they’re replacing, and may take a year or two to get to that level. Not to mention potential errors made by new employees who are unfamiliar with your company's processes, tools, and policies. Poor engagement: When a teammate leaves, the rest of your employees are bound to wonder why, and may even consider leaving as well. This ripple effect can lead to a significant uptick in disengaged employees, which costs US companies up to $550 billion a year in lost productivity. To put these figures in more relatable terms: for a salaried worker earning $60,000 a year, your company will likely spend $45,000 to replace them. Warning Signs Someone is Ready to Quit Just as a poker player's “tell” hints at the content of their hand, a team member's behavior can tip you off that they're looking to leave. A new study by researchers at Utah, Florida, and Arizona State Universities defines a set of 13 “pre-quitting behaviors” that managers can use to identify those at risk for turnover—and possibly intervene in time to convince them to stay. These behavioral cues include: Decreased productivity A reticence to commit to long-term timelines Dampened enthusiasm for the organization’s mission Less willingness to act as a team player Stereotypical signs of an employee's impending departure, like wearing a suit to a casual office or a sudden rise in the number of doctor's appointments, did not show as strong a statistical correlation with employees who quit soon after. Researchers have also found that job hunting jumps by 6% around an employee’s work anniversary, increases 12% around birthdays, and spikes to 16% around non-work-related gatherings like school reunions, when people are more inclined to reevaluate the state of their life goals. With these figures, it’s tempting to accept employee turnover as a fact of life. But many of the reasons employees quit are surprisingly simple, even for high performers, and managers who fail to ask why their workers want to go may be needlessly losing people who are costly to replace. The New Employee Retention Model While competitive pay and benefits packages remain an important part of the equation, it’s no longer enough to retain your top talent. Recent years have brought about a significant shift in the employee/employer relationship dynamic: today’s young professionals expect to work for many companies over the course of their career, and require a sense of purpose and personal growth at each stage. This shift belies a need for a new employee retention model that begins with hiring, and extends to creating an enriching work environment. Effective employee retention strategies start with hiring the right person. One of the most common reasons people leave their jobs within the first 12 months is a poor fit, so don’t oversell the position to candidates. Be honest about what the job really entails and how success will be measured. Lori Goler, Global Head of People at Facebook, shares her favorite interview question with The Wall Street Journal: "'On your very best day at work when you go home and you think, I have the best job on the planet, what did you do that day?' I want to be sure that whatever job or role the person is coming into is something that has a lot of whatever that is in it. That is how you get someone to play to their strengths from the very beginning." Job fit isn’t the only thing to consider when hiring; culture fit is more important than ever. Millennials now represent over half of today’s workforce, and the who of their daily work matters to them just as much as the what. They want to work alongside people they like and enjoy collaborating with. And if they’re not finding that at your company, they’ll look for it somewhere else. So how do you create that culture of camaraderie? In an article published on LinkedIn Pulse, Josh Bersin, founder of Bersin by Deloitte, urges managers to apply Maslow’s Hierarchy of Needs when cultivating a vibrant workplace culture that meets high-performing employees' expectations. Once people are “safe” (paid well) they want their work to be meaningful, apply to their personal skills and interests, to feel appreciated, and to work for a company they're proud of. Recognition and rewards remain an important and practical way to create a positive culture, so raises, promotions, and public recognition for your star employees are critical to keeping them engaged. As Jean Martin and Conrad Schmidt explain in an article for Harvard Business Review, “Even employees who haven’t been dubbed high potentials work harder in a place where good things happen to those who deserve them.” While public recognition remains a key element of a thriving company culture, high performers also require more frequent feedback and recognition from their own managers. 50% of high performing employees expect at least a monthly sit down with managers, but only 53% say they are getting the feedback they want from their superiors. Busy managers must make the time for frequent one-on-ones with their top team members, or risk them feeling that they're under-appreciated or stagnating in their careers. Another crucial aspect of a company culture that retains high performers is that of ongoing education—which is not only a benefit for your workers, but good for your organization. High-performers and high potentials represent future company leadership, and that process should start early in their careers. But it’s no longer enough to send people to conferences, workshops, or 3-day certification programs. Today’s top employees demand continuous learning opportunities, delivered through innovative platforms that fit their individual schedules. Ongoing education must be woven into the everyday priorities and schedules of your best performers. Even managers with limited funds for training can frame new projects and assignments as learning opportunities to keep high performers engaged. Implementing all of the above employee retention ideas doesn't guarantee that you'll retain your top talent, however. At the end of the day, people simply won’t stay with a company where they feel stuck. Even after controlling for factors like pay, job title, and industry, a study conducted by Glassdoor found that workers who stay longer in the same job without a title change are significantly more likely to move to another company for the next step in their careers. Keeping your best employees means giving them clear paths to advancement, and acknowledging them as future leaders early on. One large company profiled by Glassdoor solves this problem by giving high achievers access to exclusive online discussion boards, led by the CEO, that are centered around the company’s most pressing challenges. High achievers share their solutions and volunteer for new assignments, which not only ups transparency and involvement, but gives the executive team a direct line to the company’s rising stars. Solutions to Employee Turnover Companies are now experiencing a shift towards what Deloitte terms the “new organization,” characterized by highly empowered teams and workers. To retain top employees and stay competitive, companies must go beyond traditional engagement strategies like competitive pay and benefits packages. Smart managers will recognize the need to create an engaging workplace based on a strong learning culture, and define a new model of leadership and career development for their teams. As Josh Bersin writes, "High-performing companies serve their employees just as well as they serve their customers."

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