Are you concerned about retaining your valuable talent?
Do you want to proactively identify and manage flight risk within your organization?
Look no further! Our Employee Flight Risk Management Excel Template is here to help you effectively analyze, identify and strategize your employee retention.
This simple yet powerful 9-box matrix method of assessing flight risk employees can be a game changer for your employee retention and work force planning strategies.
Let us first understand what is flight risk analysis and why is it important.
Flight risk analysis is a systematic approach to assess and predict the likelihood of an employee leaving the company at any given time.
Identifying employees that are at risk of leaving and taking necessary action in due time is critical for a myriad of reasons:
- Early Intervention and Retention:
- By identifying potential flight risks in advance, HR professionals can implement targeted strategies to engage, motivate, and support at-risk employees. This may involve offering development opportunities, providing recognition and rewards, or addressing underlying concerns promptly.
- Cost Savings:
- Flight risk analysis helps organizations optimize their resources by focusing retention efforts on employees most likely to leave.
- Strategic Workforce Planning:
- By understanding which employees are at a higher risk of leaving, organizations can develop targeted succession planning and ensure a smooth transition of critical roles. This approach to workforce planning helps maintain business continuity.
- Improved Employee Engagement:
- Proactively addressing flight risks and mitigating the same demonstrates an organization’s commitment to developing and sustaining its valuable workforce. This, in turn, boosts employee morale, productivity, and loyalty to the organization.
Features of Flight Risk Management Excel Template
- Customize the axes levels as per your needs.
- Customize the 9 grid names for risk assessment based on your organization’s requirements.
- The dashboard is an elegant 9-box grid matrix that categorizes employees based on their flight risk scores.
- Instantly identify employees positioned in each grid box, providing a quick overview of flight risk distribution across your workforce.
- Simple data entry
- All it takes is a few simple data-entry steps in Excel to get your very own flight risk matrix.
- Fully Automated
- View the flight risk matrix which is fully automated and instantly created with the input data, within minutes!
How to use the template?
There are just three simple steps involved in creating your flight risk management matrix:
1. Customize your 9 box in Settings sheet:
To analyze flight risk, we need to understand the probability of an employee leaving the organization. Along with this, another important factor to consider is what will be the impact of an employee leaving. That is, for an entry-level job, the impact of loss for that employee is less since those are non-critical roles.
The template gives the flexibility to customize the names and descriptions for each grid as well as the axes levels as per your organization’s needs. This is entered in the Settings sheet of the Excel template.
2. Enter employee data:
This is a straightforward step, where you’ll have to enter the employee details. The column headers are self explanatory, as shown here:
Along with this, enter the probability of leaving and the subsequent impact in the X and Y axis columns, respectively. Once these values are entered, the template automatically calculates the Grid Box in which the employee falls under.
3.View the 9-box matrix for flight risk analysis.
Once all the data is entered, the flight risk management matrix is automatically populated in the dashboard sheet.
The first page has the 9-box grid visual with the counts and % of employees in each of the 9 Boxes, where the “Critical flight risk” employees can be easily identified and proper mitigatory actions can be initiated.
This view gives an easy understanding of your work-force’ spread based on the probability of their leaving and the subsequent impact.
The following visual shows the % of employees in each box and this is easier to see the composition of employees in your organization.
The second page in the dashboard allows us to visually see employees in each box of the 9-box grid to identify the flight-risk employees and take preventive measures.
You can export the visuals into a PDF and share. They are also set up to be print-friendly if you need to print them.
Apart from this, if you need to view the list of employees in each grid, select the grid name from the drop-down at the far left of the dashboard: the list of employees in that grid is automatically listed.
This is how you can have your own customized 9 box grid Flight Risk Management for your organization within minutes!