Metrics that Matter #2: Leadership Retention
Welcome to Metrics that Matter - our deep dive into the KPIs that power senior living. All of these KPIs are automatically calculated by Clarent and included in our KPI Library.
Time for #2 in our "Metrics that Matter" Series! Last week we looked at frontline staff retention. This week, we're calculating leadership retention > 1 year.
KPI: % of Leadership Retention > 90 Days
Why is this KPI valuable: Community leaders bring stability, experience, and expertise to your communities. If EDs and Department Heads have been in their role for >1 year, you are likely to see lower frontline employee turnover and better financial performance.
Why is this hard to calculate: First, you need to define what titles are "leadership". Next, you need to track your payroll statements and calculate the difference every 2 weeks - which employees have changed roles or left.
How we do it at Clarent: At the start of implementation we work with customers to define all the leadership titles. Next, our software automatically tracks changes in your payroll statement to calculate turnover and display this KPI.
Next steps with this KPI: If a community has a problem with leadership turnover it would benefit from support from RDOs or the home office. If lots of communities have junior leaders, it might be smart to institute a leadership training program.
Community leaders bring stability, experience, and expertise to your communities.