The labour market is getting tight, wages are rising and staff are getting restless – the new war for talent is heating up. In the webinar, HR and recruitment expert Martin Nally of hranywhere and SmartCompany editor James Thomson will discuss the keys to attracting and retaining star performers in the current market.
Text of The new talent wars – attracting and keeping stars
1.The new talentwars attractingand keeping starsJames ThomsonSmartCompany.com.auMartin Nallyhranywhere
2. James ThomsonEditorSmartCompany.com.au 3. Martin NallyFounder/MDhranywhere 4. 7/04/2011hranywhere Copyright 2009 5. 7/04/2011CHALLENGES WE FACEEmployeePerformance is declining SeniorLeaders ChallengesDisengagedeffort isof GEC*are staying dropping Hipos willquithranywhere Copyright 2009 6. 7/04/2011 MANAGING IN TURBULENT TIMES CLIMATE SURVEY#Retain Talent Provide Feedbackon achievement of Stay & GrowObjectivesConsider Flexibility Reward & and WLBRecognition Work & Playhranywhere Copyright 2009 7. 7/04/2011 FORMULAFlexibility Retain TalentRecognition Feedbackhranywhere Copyright 2009 8. hranywhere Copyright 2009 9. 7/04/2011 CAN WE DO ANYTHING? Review Leave Management Be Creative Consider ways of Retaining Talent Long TermMutually agree to change hoursConsider Flexible Work Arrangements: Fair Work Acthranywhere Copyright 2009 10. WHAT IS FLEXIBLE WORKING? Changed Unique Leave Alternative WorkingworkingOptions arrangements Patterns patternsTime off in lieu or Shift working.banked hoursPart-time workingV-time workingTerm-time working Shift swappingWorking from Job sharingAnnualised hoursFlexi-timehome Additional leaveStaggered hoursentitlement Self-rostering Career breaksAllow unpaid Leave Compressed by agreement working hourshranywhere Copyright 2009 11. BENEFITS TO EMPLOYERS OF FLEXIBLE WORKING PeopleCustomers Maximise labour Improve customer Reduce absenteeism, service sickness and stress Create new Attract a wider range opportunities of candidates Retain valued employees IncreaseCost Reductions productivity Reduce Business Costs Improve Morale Reduce recruitment Improve Engagementcosts Build Value Reduce Induction Proposition costs Reduce Churnhranywhere Copyright 2009 12. BENEFITS TO EMPLOYEES OF FLEXIBLE WORKING? Balance Morale Greater sense of Better relations with responsibilitymanagement ownership Increased loyalty and Control of working life commitment Pass the BBQ Test Well-beingCareer Less stress More opportunity to More time to focus on continue to build life outside work career Better able to cope with children and Elders care responsibilitieshranywhere Copyright 2009 13. hranywhere Copyright 2009 14. 7/04/2011TALENT Retain Flexibility TalentRecognitionFeedbackhranywhere Copyright 2009 15. 7/04/2011 HIPOS High Potentials 25% Hipos plan to quit in more likely tonext 12 months*quitOverinvest in Retain Hipos by addressingHipos by utilising their needsRetention & Attract Key Competitors AttractionTalent using Attraction drivers *Drivers* hranywhere Copyright 2009 16. 7/04/2011HIPOS AND LOW PERFORMERS Engaged Disengagedhranywhere Copyright 2009 17. 7/04/2011RETENTIONEmployees expect Changes to Organisation Strategy to increase in Turbulent times Behave Ethically Engage your Talent early Be Bold Be Open Employee Commitment is criticalhranywhere Copyright 2009 18. 7/04/2011RETENTION REQUIRES EMPLOYEE COMMITMENT TeamFocal Points Manager/LeaderRole Clarity of Employee CEO CommitmentOrganisation &Culturehranywhere Copyright 2009 19. 7/04/2011RETENTIONOutputs of Employee Commitment* IntentDiscretionary Effort to Stay =Performance= RetentionTrue desire Employee Belief in Volunteer to be on theWillingnessVision andMindsetBusto go ABCD Values hranywhere Copyright 2009 20. 7/04/2011LINE OF SIGHThranywhere Copyright 2009 21. hranywhere Copyright 2009 22. 7/04/2011 RECOGNITION RetainFlexibility TalentFeedback Recognitionhranywhere Copyright 2009 23. hranywhere Copyright 2009 24. 7/04/2011 RELATIONSHIPS BASED UPON RECOGNITIONAccording to the largest study everIf you wait until a conducted onyear-end annual Recognitionworkplace review, you aremeans most to an satisfactionwaiting too longemployee when it (Gallup), to recognize andis sincere andrecognitionyou probably arespontaneous.should occur at losing people you least every sevendo not need to.days. hranywhere Copyright 2009 25. 7/04/2011Strong relationships are vital in todays economy.As your workforce shrinks and you need to do more withless, keeping quality employees becomes even more critical.As a manager, it is your job to bond your best people to yourcompany through recognition.Help direct and motivate your "core" performers.hranywhere Copyright 2009 26. RecognitionRecognitionAllow Employee InputOne on OnesRegular Feedback Simple Recognition Act on Employee Suggestions AwardsCelebrationshranywhere Copyright 2009 27. hranywhere Copyright 2009 28. RECOGNITIONDifferentiateRecognise DevelopmentDetermineRecognition differentopportunities Reinforce thewhat israther than types ofcan be usedright valued byPraise employeeas behavioursemployees everyone contributionrecognitionhranywhere Copyright 2009 29. 7/04/2011Recognition can be achieved through Development LeastMostEducation Mentors &Coaching FullOn-the-jobOnjob& Role&JobExperience TrainingModelsFeedback Change Theoretical Copy aBoss/ MentorProjects Stretchskill building &particular skillassignmentsShadowingpractice or behaviorhranywhere Copyright 2009 30. 7/04/2011 FEEDBACK Retain Flexibility TalentRecognitionFeedbackhranywhere Copyright 2009 31. hranywhere Copyright 2009 32. 7/04/2011MEDIUMS FOR COMMUNICATIONEXCEPTIONAL COMMUNICATIONS Team TalksTool Box MeetingsListening SessionsFocus GroupsReplicate Customer CommunicationsHuddleshranywhere Copyright 2009 33. worldwide researchThe Gallop Organisation :....irrespective of the culture, the most common reason for people leaving an organisation isdissatisfaction withtheir immediate manager.... @@hranywhere Copyright 2009 34. hranywhere Copyright 2009 35. 7/04/2011GET A BETTER RESULT The aim is to achieve BREAKTHROUGH levels of performance by grouping a diverse range of individuals together andcapitalising on the synergy which results through clear roles andeffective communication.Clear purposeDiverseExceptionalRole ClarityTeam Communication / planhranywhere Copyright 2009 36. hranywhere Copyright 2009 37. What Great Managers do differently: 7/04/2011SUMMARYGain Employee CommitmentRetain TalentFlexibility EthicalBe Courageous BehaviourFeedback RecognitionCommunicate DifferentiateCommunicateCommunicatehranywhere Copyright 2009 38. 7/04/2011Eight areas where organisations connect with its people: Our People Horizon hranywhere Copyright 2009 39. Thank you