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EMPLOYEE RETENTION PROGRAM TEAM FAST & FRIENDLY Julie Gondek, Laura Cardno, Jasmine Berry, Anna Brown, & Melissa Harrington

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Employee Retention ProgramTEAM FAST & FRIENDLYJulie Gondek, Laura Cardno, Jasmine Berry, Anna Brown, & Melissa Harrington

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Percent of Fortune 500 companies use mentor programs

Percent of learning is informal

Percent increase in retention with increased employee engagement

DID YOU KNOW?

#P.A.C.E.Potential Acknowledgement & Career Enhancement Who does this program effect?New Hires & existing pacesetters/all-starsWhat is the objective of PACE?Create mentors, nurture leadership, & encourage growthHow will PACE be implemented?Through a mentorship matching softwareWhat will PACE do for Nordstrom?Improve employee retention & grow the company

#Retain New Employees

Encourage Growth

Nurture Leadership

P.A.C.E.What will it do for Nordstrom?

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P.A.C.E.Pace-setters making pace-setters _Gail Terry

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Monica BakerMentee

Gail TerryMentor

#Nordstrom Retention AnalysisStrengths:BenefitsCommissionOpen-door Policy

Opportunities:BenefitsCommissionOpen-door PolicyIncentivesTeam bondingReverse Mentoring

Weaknesses:CompetitionDisregarding resourcesStagnant in positions

#P.A.C.E.What willdo for employees?Mentors:Additional benefitsCompensation in pay for lost time on the floor.Creates leadership on the floor.Helps create and maintain goals.Fosters healthy on floor relationshipsRefreshes veteran knowledge.Heightens level of ownership

Mentees:Promotes career growth.Enables mentee to succeed.Improves the bottom line.Helps establish goals & a plan to achieve them.Gives mentee an on floor confidant.Gain knowledge of Nordstrom culture Opportunity to grow Mentees business.

#Additional benefits for MentorsBenefits will compensate for lost time on floorAdditional go to person outside of managementCreates friends not enemies Enforcing all Nordstrom resources Helps mentors & mentees create & maintain goalsMentor bonuses & mentee career growthFosters healthy on floor relationshipsRefreshes knowledge

P.A.C.E.What willdo for Nordstrom?KNOWLEDGETRANSFER

Short-term & long-term learningShortened learning curveEnhances ProductivityAccess to range of peers to share skills & promote learning

CAREER & LEADERSHIP DEVELOPMENT

Acknowledges leadersExposes talentLeverages internal resourcesSpreads knowledge & practices of Nordstrom cultureEnhances networking & interpersonal skills

DIVERSITY & REVERSE MENTORING

Stimulates innovation & creativityCultural inclusiveness & awarenessTwo-way learningNew hires share fresh ideas with veteransVeterans share knowledge with new hires.

#P.A.C.E.Whats next?How can Nordstrom accomplish this program?

Mentor matching software that:Matches mentors & menteesSchedules MeetingsRecords in-depth metricsShares information with DM & HR

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P.A.C.E.SoftwareMentor Matching

Style-flexPersonality testStrengths test

Scheduling

Meetings based on work schedulesEver 2 weeks for first 60 daysMonthly after 60 days

In-depth metricsSales goalsScorecard/SPHAppointments

Information Sharing

Meeting documentationMentor & Mentee surveysShares feedback with DM & HR.

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RetainPromoteKnowledge Transfer and Reverse MentoringEngagement Development P.A.C.E.

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