Why Talent Mobility is King of Retention

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Why Talent Mobility is King of Retention

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Housekeeping Sponsor Speaker Defining Talent Mobility Key Trends Overview Research and Data Practical Advice Case Studies Q&A

ONAGENDA

the

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HOUSEKEEPING Grab Tab Audio Mode How to ask a Question

This program is being recorded.You can download the recording at http://www.recruitingwebinars.com/

TIPS FOR USING YOUR CONTROL PANEL.

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MATT CHARNEY

SPEAKER

Principal Analystlhra.io

@beneubanks

Ben Eubanks

Likes• HR/recruiting• Research• Running• Reading• Being a dad (x4) Dislikes

• Celebrities• Jeggings• Seafood• Snark for the

sake of it

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Build, Buy, or Borrowtal-lint mō-bil-i-tee (noun) talent practice of using employee talent where it is needed in conjunction with where the employee wants to go (see also: awesome recruiting practices)

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Talent Mobility=Recruiting Gold Easier to recruit. (#1

demand of Millennials: career dev opps)

Easier to retain (less recruiting, more golf or whatever)

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TRENDS

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It’s the trends, babyThe average career path:

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It’s the trends, babyPeople want control of their own work/career.

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It’s the trends, babyGig economy—workers are taking on additional tasks because they want the challenge, the money, or both.

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It’s the trends, babyIt’s getting harder to source and recruit high performers in some industries.

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It’s the trends, babyWe have like 287% disengagement according to some made up statistics.

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RESEARCH

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My Pet HypothesisMillennials and other workers want development because that’s what they have been sold in the hiring process.

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Glassdoor Says89% of Glassdoor users are either actively looking for jobs or would consider better opportunities.

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Gallup Says93% of workers that took a new job did so outside their company.

Also, the primary reasons employees look for change is to have the chance to expand their knowledge and use their strengths.

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i4cp SaysTalent hoarding is bad for business.

High-performance organizations are more than twice as likely to prioritize the movement of talent, while low-performance organizations are 2.5 times more likely to say the movement of talent doesn’t matter.

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Deloitte SaysHigh performing companies have a complex and powerful set of processes which facilitate and enable such mobility to take place rapidly and effectively.

It’s about organizational adaptability to challenges.

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My Favorite Behavioral Scientist SaysPeople are 2x as productive when they feel their work has meaning beyond the task at hand. (Dan Ariely)

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RolePoint Says

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But People Say…

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PRACTICAL QUESTIONS + ADVICE

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Why Not Prioritize Internal Sourcing? But… we’ll risk upsetting

employees if they aren’t chosen

But… managers don’t want us snatching their talent

But… our workforce won’t be diverse enough

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Talent Mobility>SuccessionJust like innovation can be a very employee-driven approach, talent mobility is more powerful than succession because it’s powered by the affected individuals.

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Understanding Talent Inventory Take stock of your talent. Who can grow into the role? Who could flex and take it on? What are your toughest fills? How

could internal talent bridge the gap?

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Success Requirements Culture Process Maturity

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Dangers of Only Hiring ExternallyDangers of hiring outside and demotivating qualified internal candidates

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Why Recruiters are Best Suited

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Pro Tip on CultureRemove the stigma of indicating interest in other roles. (This isn’t a bad thing unless it’s your first week on the job. In that case, shut up and get to work.)

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CASE STUDIES

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Kapost Tours of Duty Ask: what do employees see as path? “Living conversation that is always

evolving.” “It’s not just a desk and a paycheck—it’s a

commitment to getting me where I want my career to go.”

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World Bank Group Talent Marketplace Started as an L&D initiative Hiring freeze Key shift: treating staff as corporate

citizens, rather than as proprietary resources with sole allegiance to their respective units.

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Hootsuite CEO backing It’s beyond leveling up. It’s about

expanding into new skills and territory. Stretch assignments: 90 day period, 1

day per week. Reduced job duties. Learning plans from both managers.

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Bechtel Key practice: finding A players and moving

them around every 2-3 years as a development strategy.

Ex: the Chemical Engineer/HR Manager One of Bechtel’s biggest draws for candidates

is this opportunity to grow through exciting assignments in different areas of the country (or the world).

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Chipotle Pre-Talent Mobility: 52% store manager turnover Post-Talent Mobility: turnover for salaried

managers dropped to 35%; dropped for hourly managers a whopping 64% (111% down to 47%).

Manager development incentives: bonuses of $10,000 for managers develop new managers

Paid out $1+ million in people development bonuses in 2010.

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US Security Associates It is a key aspect of the culture to promote these

trusted positions from within, and as a result, the average tenure of senior level managers is 10+ years in position.

For example, one employee started as a uniformed officer and was recently promoted to Vice President. This employee began his security career 20 years ago and has risen through the ranks from Training Manager to Operations Manager, Branch Manager, District Manager and Vice President of National Accounts.

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Tata Consultancy Services Tata Consultancy Services believes in

grooming employees internally to take up leadership roles.

The CEO, CTO and CFO all joined TCS as trainees.

Employees are encouraged to share career aspirations.

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Actionable Takeaways Verily I say unto thee:

Seek first thine own talent Coach thy managers Find/collect data to support

thy approach (success of internal vs external fills)

Go forth and conquer!

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YOU’VE GOT QUESTIONS. WE’VE GOT ANSWERS.

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@beneubanks Ben Eubanks

Want more?

Email ben.eubanks@lhra.io for a summarized version of the case studies covered in this webinar.