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Due to global competition and a shortage of people with certain skills / abilities it is becoming a big priority for many organisations to retain their talented staff. This session will benefit those who work in an environment where in order to achieve their company’s strategic objectives it will be imperative to both attract and then retain their key people. Danny Kalman, will share his experiences when he was Director of Talent for Panasonic Corporation from 2008-2013. He will run an inter-active session in which all participants will be encouraged to share their own experiences explaining what both worked / failed in retaining the talents within their own organisation. Danny Kalman, Talent Management Expert
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Danny Kalman
Talent Management Professional
How to retain your Key talent in a competitive global Market Place
Self Introduction
• Graduate in Business Studies
• Prior to joining Panasonic, worked in the retail and construction sectors in Commercial
Management, Marketing and HR
• 1992: Joined Panasonic Europe as HR Manager
• 1994: Take on responsibility for Pan-European Industrial Relations
• 1999: Transfer to Industry Group as Head of HR
• 2001: Head of Pan European Training & Development
• 2003: HR Director of Panasonic Europe
• 2008: Global Talent Director
• 2013: Left Panasonic and established my own Talent Management Consultancy
Accredited executive coach
• 2014: Book on Global Talent Management published
Danny Kalman: career highlights
Three Key Questions
1. Do you have a recruitment strategy? Yes/No
2. Do you have a development strategy? Yes/No
3. Do you have a retention strategy? Yes/No
Source: Workforce Review November 2013
31% of HR Directors viewed talent management and retention of talent as their biggest concern
25% stated succession planning was their second highest concern
23% stated employee engagement was their third highest concern
Talent Retention
Source: Wall St. Journal November 2013
2013 2012 2011 2010 2009
Yes I intend to actively seek a new position
83% 86% 84% 84% 60%
Maybe, So I am networking 9% 8% 9% 8% 21%
Not likely but I have updated my CV 3% 1% 2% 3% 6%
No, I intend to stay in my current position
5% 5% 5% 5% 13%
Do you plan to pursue new job opportunities in 2014?
Trend in Employee Intentions
Top ten reasons why large companies fail to keep their best talent
1. Big Company Bureaucracy
2. Failing to find a project for the talent that ignites their passion
3. Poor annual performance reviews
4. No discussion around career development
5. Shifting strategic priorities
6. Lack of accountability and/or telling them how to do their jobs
7. Top talent likes other top talent
8. The missing vision thing
9. Lack of open-mindness
10. Who’s the boss?
How to stop your new joiners quitting
• Get onboarding right • Involve them in the culture • Don’t forget benefits • Set performance targets • Buddy them up
…… the anxiety people feel when working in a completely different environment
The Four Stages of Culture Shock:
1. Honeymoon stage – people feel very positive about the new culture
2. Frustration stage – people struggle with the culture and begin to react negatively to its ways of doing things
3. Adjustment Stage – people feel more confident in dealing with the new culture and are able to understand and accept customs 4. Enthusiasm stage – people function well in the culture and may even begin to prefer the Japanese way of doing things
Joining a New Culture Culture Shock
Cost of staff leaving your company
Consider the real “total cost” of losing an employee
• Cost of hiring a new person (advertising, interviewing, screening, hiring)
• Cost of onboarding a new person (training, management time)
• Lost productivity (a new person may take 1 -2 years to reach productivity of an existing person)
• Lost engagement (other employees who see high turnover disengage and lose productivity)
• Customer Service and errors (new employees take longer and are often less adept at solving problems)
• Training cost (over 2 -3 years you likely invest 10-20% of an employee’s salary)
• Cultural impact (whenever someone leaves others take time to ask “why”)
Cost of staff leaving your company
How to create a winning Employee Retention Strategy
In a recent Watson Survey, more than 50% of the responding companies said they didn’t have a formal strategy for retaining employees once they had been successfully recruited
• Performance – there is nothing more powerful than someone working towards a goal
• Communication – A lack of good, regular and quality communication within an organisation or from a more senior individual, will be enough for an employee to be tempted by a head-hunters call.
• Loyalty – No matter how loyal your employees were in other roles, loyalty has to be earned not bought
• Competitive advantage – Everyone wants to be a winner!
Please Discuss the following questions:
1. Is talent retention an issue for you?
2. What are the main reasons why your talents are leaving?
3. What, if any steps have you taken to retain your talents?
4. Do you agree with the opinion that talent retention is not a priority?
Group Discussion
