Retaining Your Top Performers

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Speaker: Steve Parker, SPHR VP HR Solutions SumTotal Systems

Moderator: Max Mihelich

Associate Editor Workforce magazine

Retaining Your Top Performers

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Max Mihelich Associate Editor Workforce magazine


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Steve Parker, SPHR VP HR Solutions SumTotal Systems


Copyright © 2013, SumTotal Systems, LLC. │ PROPRIETARY AND CONFIDENTIAL Page 9

LEARNING TALENT WORKFORCE PAYROLL & EXPENSE

3,500 Customers | $250M+ Revenue | Nearly 30 Years in HR 45M Users | 17M Cloud Users | 95% Customer Retention


"   The Real Importance of Retention

"   What Your Top Performers Want

"   3 Steps to Providing It

"   Your Questions

Agenda


The Real Importance of Retention


The War for Talent is Back


66% of CEOs say the lack of the right skills is their biggest challenge (Manpower, 2012)


3.9M jobs are open in US right now (BLS, 2013)


52% of jobs are going unfilled due to lack of “the right talent” to fill them (Manpower, 2012)


1 in 5 executives report a high negative impact on their ability to meet client needs (Manpower, 2013)


0 5 10 15 20 25 30 35 40 45 50

We cancelled or delayed a strategic initiative

We were unable to pursue a market opportunity

We weren't able to innovate effectively

We couldn't achieve growth forecasts overseas

We couldn't achieve growth forecasts where we are based

Our quality standards fell

Our talent-related expenses rose more than expected

All

US

Question: How have talent constraints impacted your company’s growth and profitability over the past 12 months?

Source: PWC 2012 Global CEO Survey


71% of the workforce is not engaged (Gallup, 2012)


Employees with lower engagement are 4x more likely to leave their jobs (Corporate Leadership Council)


What Your Top Performers Want


influencer of job satisfaction is the opportunity to use skills and abilities #1

Source: SHRM, 2012


Autonomy • People want to

have control over their work

Mastery • People want to get

better at what they do

Purpose

• People want to be part of something that is bigger than they are

Components of Engagement


"   The new generation of workers want: §  Growth opportunities §  Job flexibility §  Ability to drive their own learning and receive role

specific information §  Up-to-date technology that allow them to work fast

Source: Forrester Research, “Transform Strategic Processes for Talent Management and Employee Engagement,” 2012

Employee Expectations


Really know your people #1


• Experience • Competencies

• Knowledge • Personal Attributes

Who They Are

What They Know

What They Have Done

What They Can

Do



What’s the state of your people data today? ①  What data? ②  We have multiple systems and lack a single source of truth ③  We have multiple systems and sources of data, but they’re

integrated ④  We have a single source of truth and a comprehensive view of our

people

Poll Question


Of organizations use more than three HR systems 75%

Source: Forrester Research, 2011


LACK OF INTEGRATED VISIBILITY AND ANALYTICS

HIGH COMPLIANCE AND OWNERSHIP COSTS

LACK OF INTEGRATED HR PROCESSES

LACK OF A “SINGLE SOURCE OF TRUTH” OF TALENT

LMS

RECRUITING

COMPENSATION CAREER DEV

SUCCESSION

PAYROLL

HRIS

PERFORMANCE

FINANCIALS

ERP

SUPPLY CHAIN

CRM


Data mapping is 70% of project cost

Average HR technology

consolidation Cost: $6 million Time: 3 years

Technology Vendors: “The only way to get information & value is to buy everything from us.”

Organizations: “We’ll continue to need multiple systems into the foreseeable future.”

Systems Consolidation Isn’t The Answer


A VIRTUAL ‘SINGLE SOURCE OF TRUTH’ OF TALENT

INTEGRATED HR ANALYTICS

IMPROVE COMPLIANCE AND OWNERSHIP COSTS INTEGRATED HR PROCESS

LMS

RECRUITING

COMPENSATION CAREER DEV

SUCCESSION

PAYROLL

HRIS

PERFORMANCE

FINANCIALS SUPPLY CHAIN

CRM

ERP


Provide right-time personalized experiences

#2



One size fits all doesn’t work. We thought off-the-shelf was easier, but now companies are realizing that off-the-shelf talent management practices are more difficult to see real results from... “

” Source: Towers Watson


In-context learning and development

Instant collaboration with experts

Targeted, practical career development

Productivity

200%

40% Engagement

75% Promotions

Personalization Drives Retention


Source: Penn Schoen Berland, 2012

Don’t think HCM software helps them do their jobs better 67%


What’s the highest level of value you are getting from your HR systems infrastructure today? ①  Little or Unclear ②  Automates Important Functions and Processes ③  Provides Cross-Functional Insight Into Talent Capabilities ④  Helps People Be Better At Their Jobs and Drives Productivity

Poll Question


Talent Expansion is People-Centric

"   Increased productivity "   Improved adoption and

engagement "   Nearly triple the ROI

1980 2000 2012

Talent Expansion

Talent Management

Traditional HCM

Core Tracking + Reporting + Improved UI + Context &

Pervasiveness

ROI


USABILITY Be easy to use =

Typical

UX


Talent Expansion

UX USABILITY

Be easy to use + = + CONTEXT Deliver immediate value to the end

user

PERVASIVENESS Be available where &

how users already work


Context Similar to Amazon and other consumer technology, the system understands the users profile and what they are trying do and can offer relevant advice and actions to help the user be more effective

1.




Context-Aware User Experience Performance Improvement


Context-Aware User Experience Manager Coaching



Context Similar to Amazon and other consumer technology, the system understands the users profile and what they are trying do and can offer relevant advice and actions to help the user be more effective

1.

2. Pervasiveness Instead of making users come to the system, the system can use “widgets” and mobile capabilities to deliver functionality to the user wherever they are working, even in other systems


0

1

2

3

4

5

6

7

8

9

1973 1993 2013

# (in

bill

ions

) Population

Mobile

PC

TV

Mobile is Here


Of workers use their own smart phone for work, and this number is expected to rise 62%

Source: Brandon Hall Group, 2013


Dr. Conrad Gottfredson’s 5 Moments of Learning Need

Knowledge Acquisition

1.  When learning for the first time

2.  When wanting to learn more

Knowledge Application

1.  Trying to remember 2.  When things change 3.  When something goes

wrong

m-Learning Perfect Fit


Scenario "   Field sales employees have direct

access to recommended learning and social connections relevant to their performance and the opportunity and customer type on which they are working directly from their CRM systems (like salesforce.com)

Pervasive Access Field Sales


Pervasive Access Manufacturing

Scenario "   Machine Operators whose

performance is below standard are given regular, hyper-personalized direction and training directly from time tracking devices as they clock in to create focus and increase performance.


Of companies use social technologies in some way, but very few achieve the full potential benefit.

72%

Source: McKinsey Global Institute 2013


Untapped value from social technologies $1.3T

Source: McKinsey Global Institute 2013


Incent Managers to Prioritize Internal Talent Mobility

#3


Successful managers are often good at: "   Selecting great talent "   Developing great talent But not always: "   Giving up great talent

Your Managers May Be Your Biggest Obstacle


91% of Millennials expect to stay in a job for less than 3 years <3

Source: Forbes, 2012


How does your organization treat internal talent?

①  We’re talent hoarders. We make it hard for people to move to new roles.

②  We allow people to move, but have rules to make sure it doesn’t become disruptive.

③  We encourage people to move and take on new roles.

④  We proactively manage internal talent mobility.

Poll Question


Facebook has not once bought a company for the company itself. We buy

companies to get excellent people. “ ” Source: Mark Zuckerberg


It’s Not Just About Retention

Internal Hires Produce:

" Significantly higher performance in the first 2 years on the job

" 20% lower turnover rates

" Up to 30% less expensive

Source: Matthew Bidwell, Wharton, 2012

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Q&A Steve Parker, SPHR VP HR Solutions SumTotal Systems [email protected] @stevenjparker @sumtotalsystems www.sumtotalsystems.com

•  Please take this time to submit your Questions •  Also please fill out the event survey.

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Retaining Your Top Performers