Talent Retention that Works

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A short presentation for business leaders who want practical ways to stop losing talented people. From Omnicor - Evidence Based Organisational Development Solutions

Text of Talent Retention that Works

  • 1.Keep your best peopleA talent retention approach that worksfrom OmnicorOrganisation Development Solutions

2. Do you know which of your workers really are talented?What are the forces holding or repelling your best people in each unit?What percent of your best talent is vulnerable to poachingHow is that percentage changing over time?Where are your key areas of talent instability? Who are your best managers of talented people?How skilled are your managers at retaining their talented people? Who is poaching your key talent? What outside forces are seducing people away from your business?What internal forces are pushing good people away from your business? 3. If you dont have answers to these questionsyou might be in for trouble when the post-recession upswing causes your best people to review their career options www.omnicor.eu 4. Talented people join good brands and thenthey leave poor managers 5. If having talented people is important to your businessShouldnt you be giving your managers detailed, specific knowledge about what theyre doing well or badly about managing talent?Shouldnt you train your managers to be more alert and skilled?Shouldnt you nurture the talent management skills of your leaders? 6. Of course your answer is yes to all of these issues but you are under pressure to deliverall kinds of results and the fact is that the fewtalent retention tools you have arent specific,arent trackable and arent working. 7. At Omnicor we have developed a unique setof services to Give you a precise view of who is talented or has the potential to be.Create a map of talent stability/vulnerability in your firm & sub-units. Identify the success strategies of your best talent-managers.Identify specific behaviours your weak talent-managers must change.Deliver fact-driven, high-impact small-group training with managers.Monitor and adapt your talent engagement results. 8. Moderately engaged groupHighly engaged group Disengaged group 9. Is it good that youve only got a 10% annualstaff turnover?Well no!not if its your talented people leaving! 10. Who do you need to retain? 11. What is talent in your business..Personally driven to succeed Remarkable skillsetHigh social & organisational reading Higher than most intellectual capacityLoyal to the mission, project or leader more than the firm Disproportionate value contribution High potential to derail Makes more out of available resources May be perceived as arrogant, destructive, selfishDemands strong and clear leadership Views the firm as a resource providerTough on intellectual non-equals 12. Why committed and lion-hearted people leave 13. Summary Talent Engagement FactorsOrganisational Push Factors:How your business & management actively undermines theengagement of good employees.Factors include, inappropriate boundaries between employeesand the organisation and the degree to which talented employeescan find personal fulfillment in their careers.Plus talented employees demand to work inTeams that reflect their personal values getthis wrong and theyll be gone 14. Summary Talent Engagement FactorsTalent MagnetismThetalentstickiness ofyourorganisation.Once talent is engaged, these factorsunderscore the value employees experiencein their careers.Examples include the degree of personal-organisation values alignment, and thedegree to which talented people are excitedby membership of productive teams. Alsohow prestigious is your brand? Can peoplebe proud of their employer? 15. Summary Talent Engagement FactorsTalent Investment and Development:To what extent your talented people feel you are investingin their growth.High potential employees develop,through formal and informal training opportunities andstretch activities.This factor also measures the degree to which talent iscelebrated and recognized in the organisation. Examplesinclude formally recognizing achievement, and the extent towhich talent is developed through emphasizing the impactit makes on an organisations success. 16. Summary Talent Engagement FactorsIndependenceYour talented employees want to function moreautonomously than most, and they require independenceand freedom from being managed.This factor includes elements such as the freedom frommicro-management and the ability to choose ones own wayof working within the organisation. 17. We have developed a set of tools that work togetheror individually to give your business a leadingadvantage over your competition on the issue of the talent challenge. 18. Four tools for effective talent management1. Talent Assessment3. Manager as Talent Firewall -Assess your people to spot the talent- Training and the potential hidden acrossUse the data to train your managers your business. Talent is not thehow to defend the organisation same as performance it is against unnecessary talent loss. defined according to your Use the evidence to provide business vision and values as wellmanagers with the motivation, as individual performance knowledge and the specific skills they need2. Online Talent Engagement Survey 4. Online Exit SurveyUse our online Talent EngagementUse our Online Exit Survey to track and Survey every eight months tolearn from every person who discover and track your leaves, to find out the truth about disengagement risks, by why you lost them and to provide a companies, divisions andlaser specific source of data for managersaction and training 19. And the cost?The total annual cost to use all four elements together across your whole business is less that the cost of losing one senior, talented person!Use this process company-wide to manage yourtalent retention risk and to save millions! 20. jashton@omnicor.eufor a no obligation conversation about how to manage your companys talent retention risk