What's to Come? Talent Management Post Recovery

Talent Management

What’s to Come? Talent Management Post Recovery

WELCOME TO

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Presenter

Elaine LeesVP of Talent Management

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• Real-time Economic Forecasts

• Phased responses to the Recession

• New “Normal” Post Recession

• Talent Focus areas for 2010

This Webinar will Cover

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Survey: Where Have You Been?

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Survey: When Do You Expect A Rebound In The Economy?

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What’s to Come: The Economy

Recession

Desirable, but unlikely

More probable

Less probable

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Phase 1: Reactionary Talent Focus Areas

• Limit Salary Increases• Adjust variable pay• Decrease recruiting• Limit expenses related to cars, travel, etc• RIF• Voluntary Exit Plans• Voluntary Salary or labor time reductions (furloughs)• Non voluntary Salary or labor time reductions• Cease external contractors/increase contractors and renegotiate fees• Change benefit plan design or components• Freeze training, educational assistance

Typically done quickly… without complete information about employee performance and capabilities

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What worked yesterday won’t work for tomorrow

How radically have you acted already? Did that action have the desired effects? What worked, and what didn’t?

Challenged to balance cost effectiveness with longer term needs of the business.

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“New” Normal Post RecessionEnvironmental

• Continued flux in world markets

• More government interaction

• Healthcare reforms

• Higher “normal” unemployment

• Demographic trends

• Significantly changed employment

deal

• Shortage of specialized skill sets

Implications for Talent

• Operating in uncertainty is “normal”

• Cost and economic factors continue to

dominate

• Must balance short term with longer

term talent investments or growth

stunted when markets improve

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What’s to Come for Your Business

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What’s to Come for Your Business

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Survey Response: Where are you?

Defense------------------------------------Offense------------------------------Dominance

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“New” Normal: Key Talent Management Focus Areas for 2010

• Agility

• Segment Talent

• Scenario Based Workforce Plans

• Employee Engagement

• Trust = Transparency

• Leadership capabilities

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Agility

• Be ready to make real time decisions

– Use facts rather than perceptions

– Be prepared for contingencies

– Design the organization or the organizational

processes with flexibility in mind.

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Segment the Workforce

Value to the

Organization

Performance

Exceptional High Average Low

Mission Critical

Core

Necessary

Non-necessary

Provide development, rewards, opportunities for individual and organization

At risk: coach for performance, train for core role or manage out

Training for mission critical roles

Divest. Seek alternative sourcing

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Scenario Based Workforce Plans

• Build agility and flexibility in managing workforce costs and capabilities

• Build workforce plan with multiple contingencies– Hiring cycles will need to be shorter – Organizations will increasingly rely on narrowly-focused teams

to bring products and projects to completion, rather than organizing those tasks into defined full-time roles.

– The use of a contingent workforce figures to be a common solution, but only for organizations that are able to understand this source of talent in ways that are different from their management of regular workers.

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Employee Engagement :The “New” Deal

• Elements of employment deals will change (competitive base stays)

• Explore other engagement drivers to keep employee passions high and working productively– Significance– Influence– Belonging– Learning/Growth

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Trust =Transparency

• Rebuilding trust after the crisis is most critical.

• Frequent, open, honest communications build trust

• The good, the bad and the ugly news creates credibility

• Decisions based on facts, evidence

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Refresh Leadership Capabilities

• Alignment and buy in.• All leaders need to be equipped to lead:

– Critical thinking around complex issues

– Decision making in spite of risk/uncertainty

– Change-able

– Collaborative, communicative

– Displays personal engagement – drives others

• 10-20-70 Rule of Training

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Workforce Solutions You’ll See in 2010

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Phase 2: Rocky Road Talent Activities

• Retention

• Talent Attraction – rebranding

• Major moves in business unit alignments

• Recalibrate jobs and supporting compensation strategy

• Focus on employee satisfaction

• Review performance management approach

• Focus on employee efficiencies (through structural, environmental changes, processes, work flow)

• Improve knowledge transfer (anticipation of turnover, retirements)

• Investment in leadership- segmented toward strategy and critical skills

• Continue effective communications

Key= Justification that ties to growth strategy since cost are still important

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Phase 3: New Reality Talent Activities

Integrated Talent Management Strategies that are geared for growth and agility:

• Strategic Workforce Planning: who to retain, hire, train

• Flexible responsive staffing

• Refined performance management, metrics and skill definitions

• Retention strategies than integrate pay and total rewards unique to the

company (not easily duplicated)

• Pay, development and career programs tightly linked

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Review

• Response in 2010 depends on what phase your business is in

• Careful spending will remain but must be balanced with future people investments

• Welcome to the new “normal”

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Contact us at:

Generator Groupelaine@generatorgroup.net

503-542-4577

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Thank You…And Best Wishes For “V

Shaped” 2010