How Can I Stop Talented People From Walking Out The Door2

How can I stop talented people from walking out the door?

Presented by

Marion Stone

Is it a problem…?

Cost (recruitment, training) Morale Loss of skills Loss of productivity Impact on customer relationships Impact on brand

The answer is …

1. Know who your talent is

2. Understand what motivates your staff

3. Become an ‘employer of choice’

Build a plan to address the gaps

1. KNOW WHO YOUR TALENT IS

“Talent consists of those individuals who can make a difference to organisational performance either through their immediate contribution or in the longer term by demonstrating the highest levels of potential”

Talent Management, CIPD, June 2007

What to do?

Understand the business strategy & culture Identify your Key Talent Groupings

Understand the business strategy

VISION

STRATEGY VALUES

BUSINESS UNIT/ TEAM &

INDIVIDUAL OBEJECTIVES

BEHAVIOURS (Competencies)

E.g. Taking Initiative, Customer Service

Identify your Key Talent Groupings

Roles that are business critical to achieving the strategy - they deliver product and services

Not only high potentials and managers – look at ‘organisational capability’ which is more inclusive

2. UNDERSTAND WHAT MOTIVATES YOUR STAFF

Attitudes to work have shifted significantly in the last 50 years. Understanding these shifts is vital in understanding how to attract and retain the different generations.

Employee Needs

Organisation Needs

What to do?

Understand the needs Take actions according to your findings

The Generations

GROUP BORN CURRENT AGE STATUS

‘Baby Boomers’ 1945 – late 60’s 40ish – 63 years old

Wanted to change the way things were done, settled into predictable work patterns, accumulated wealth and enjoy stability

Generation X Late 60’s to late 70’s

30 – 40 years old Grown up during periods of significant change including technology, emergence of women into the work force

Generation Y 1980’s + >30 years old The ‘Net’ generation defined by their appetite for technology and their resistance to central control

Post Apartheid Generation

1994 + >14 years old Growing up in post apartheid SA in a period of growth and change

The Net Generation

Freedom – choice, mobility, integration of home and social lives with work lives

Customisation – workplace, information access e.g. Facebook Scrutinisers – looking for authentication, trust and transparency Integrity – alignment of values, consistency Collaboration – interacting through media, sharing knowledge

and experience Entertainment – at work and in learning, fun experiences Speed – rapid communication and information flows Innovation – challenging norms and use of technology

Taking Action

Career – Where am I going? Congruence & Culture – Do values align? Community – Is it socially rewarding? Compensation – Am I fairly rewarded? Coping – How am I supported? Content – Do I enjoy what I do?

3. BECOME AN EMPLOYER OF CHOICE

WHY? War for talent Companies market value attributed largely to

intangible assets Increased financial performance Cost of turnover

What to do?

Know what you have to offer Communicate it

Know what you have to offer

Define your employer brand (not the same as customer brand) or Employee Value Proposition

The EVP provides the answer to the question ‘Why would anyone want to work here?’

A brand is intangible – it exists in the minds of your target audience i.e. your talent

Employer Brand is …

A statement about what your company represents, the type of people you want on your team, the kind of work atmosphere you provide, while the consumer brand speaks mainly to your customers. It reflects your

values and how you operate.

Employer Brand …

Reinforces external positioning Creates a competitive hiring advantage Communicates the Employer Brand to the

employees (internal) Creates brand loyalty

Do you know how your company is perceived?

How can I create an Employer Brand?

Review your communications internally & externally (congruence)

Look at what you offer, not only what you expectExamples – Publicity, creating collaboratively, managing internal communication, branding e.g. ‘Best Employer’, Job sites, Interactive media

Employer Brand for the SMME

Flexibility Ability to make ‘your mark’ (greater

responsibility) Easier to build a unique and consistent culture

(authentic) Family type environment

Food for thought

“If you do not know how to ask the right question, you discover nothing.”

W Edwards Deming

More Food for Thought

Like the Beijing Olympics – Will your talent perform only by chance or because you put in place a process to identify and nurture talent?

What next?

Leave me your business card and I will send you the slides & a detailed report entitled ‘Talent on Tap’

Take my business card Visit my website for more information

www.cornerstoneconnections.co.za Sign up for an informative, free monthly

newsletter on my homepage or by leaving me your card.