[TM] L1: Intro to Talent Management / L2: Strategic Directions in Organizations / L3: Engagement Drivers in the Workplace

Talents

• consists of those individuals who can make a difference to organizational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.

Talent

• an individual with special competencies.

• In a business or other context, these competencies are of strategic importance to the organization. The absence of these competencies would pose an actual situation of crisis for the organization.

Talent Management

• the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles.

Talent Management

• the full scope of HR processes to attract, develop, motivate and retain high-performing employees.

Talent Management

Process of finding, developing, training, and keeping employees whose skills best align with the needs and objectives of the company.

Prepare, Know challenges, Search, Select, Train, Keep, Follow-up, Further preparation, Completion

What are the 9 Standard Steps in Talent Management?

Human Resources Management

HRM vs. TM

To hire great talents and make the best out of it to achieve organizational goals.

Human Resources Management

HRM vs. TM

Keeps the “people” function up and running.

Human Resources Management

HRM vs. TM

Productivity and business success.

Talent Management

HRM vs. TM

Focuses more on the “make the most out of them” part

Talent Management

HRM vs. TM

Identify potential and constantly work on making them better.

Talent Management

HRM vs. TM

Build progressive and motivating career paths for people to be their best.

Seeking employment, Recruitment, Pre & Onboarding, Engagement, Development & Training, Talent Retention, Offboarding

What are the 7 stages of the Employee Life Cycle?

Employee Life Cycle

A model that shows the different stages that an employee will go through as a part of an organization.

Employee Life Cycle

The __________ serves as a guide in better understanding the needs of employees for every stage that they undergo. It is a very important factor in retention.

Recruitment, Onboarding, Development, Retention

What are the 4 important stages in the Employee Life Cycle?

Recruitment

Employee Life Cycle

• Time to hire

• Offer acceptance rate

• Quality of hire

• Cost to hire

Onboarding

Employee Life Cycle

• Ramp time

• New hire engagement

• Training effectiveness

Development

Employee Life Cycle

• Productivity

• 360 feedback

• Promotion rates

Retention

Employee Life Cycle

• Employee engagement

• Attrition rate

development; retention programs

It is an area of concern if a company is good on onboarding but lacks _______ and _______ programs for employees.

6 months

During the first ______ of employment, 90% of employees are deciding if they will stay or leave.

great onboarding

69% of employees are more likely to stay with a company for three years if they experienced ________.

structured training program

New employees who went through a __________ were 58% more likely to be with the organization after three years.

over 50%

Organizations with great employee experience can increase their revenue by ______.

Vision

Strategic Directions of an Organization

• Describes the long-term results of the company’s efforts.

• What an organization hopes to be and what it wants to achieve in the long-term.

Vision

Strategic Directions of an Organization

• Helps an organization align everyone to head in the right direction.

• Gives a purpose to what the employees do

Mission

Strategic Directions of an Organization

• The reason for existence of the organization.

• What needs to be done to turn the vision into reality.

Mission

Strategic Directions of an Organization

• “Rolling up your sleeves” and putting in the work

Personal Values and Organizational Values

What are the 2 types of Values?

Personal Values

• The worth or importance you attach to different factors in your life.

• These factors are defined as any objects, activities, or frames of mind that you consider very important.

Personal Values

Interpreted differently by people from different generations, religions, political systems, cultures around the globe.

Organizational Values

The root values and beliefs which form the basis on which the organization and its employees operate from.

Organizational Values

Ultimately serve as the “guiding light” that steers the company’s attitude and behavior towards others.

Core Values and Company Performance

• Help attract the right kind of talent for your brand.

• Drive innovation and ambition within the company.

• Help customers understand the identity of your business.

Values Conflict

Conflict that occurs when one set of values clashes with another, and a decision has to be made.

Strategic

Putting VMV into action

Supports the organization's vision and mission statements by outlining the high-level plan to achieve both

Strategic

Putting VMV into action

Top management uses reports on finances, operations and the external environment to project future actions

Tactical

Putting VMV into action

Answers "how do we achieve our strategic plan?"

Tactical

Putting VMV into action

Outlines actions to achieve shortterm goals, generally within a year or less

Strategy

Strategy VS Tactic

Improve the customer experience through customer-centric approaches.

Tactics

Strategy VS Tactic

• Provide 20% discount to all newly-launched items

• Offer free breakfast to the first 100 customers of the day

• Open a 24/7 helpdesk for customer concerns

• Give free toy for every P1,500 single receipt purchase

Strategy

Strategy VS Tactic

Maintain a disciplined workforce within the organization.

Tactics

Strategy VS Tactic

• Craft a code of conduct and business ethics handbook

• Take action on disciplinary cases within three working days from inception

Strategy

Strategy VS Tactic

Recruit, develop and retain a high-quality and diverse staff.

Tactics

Strategy VS Tactic

• Conduct job fairs at local schools with diverse student bodies.

• Develop an effective exit interview program to understand why high-performers leave the organization.

• Conduct an employee survey to gather data on job satisfaction and engagement.

Strategic

Strategic VS Tactical

• Planning

• Large Scale

• Why

• Difficult to copy

• Long time frame

Tactical

Strategic VS Tactical

• Doing

• Smaller Scale

• How

• Easy to copy

• Short time frame

Strategy Formulation

The process of deciding on a strategic direction by defining an organization’s mission, vision, core values, and goals, its external opportunities and threats, and its internal strengths and weaknesses.

Strategy House

• Graphic model showing how vision, mission, values and strategy come together for an organization.

• Also shows the key performance indicators to measure performance.

Employee Engagement

• the involvement and enthusiasm of employees in their work and workplace.

• It helps measure and manage employees' perspectives on the crucial elements of workplace culture.

Employee Engagement

the “Emotional connection an employee feels toward his or her employment organization, which tends to influence his or her behaviors and level of effort in work related activities”.

Engaged, Enabled, Energized

What are the 3 indicators of Employee Engagement?

Engaged, enabled, energized

Sustainable Engagement is achieved when an employee is ______, _______, and ________.

Engaged

Sustainable Engagement

• “Motivating heads, hearts, and hands”

• To give committed effort requires believing the goals of your exertion are worth it.

• Effort must be grounded in truly believing in the goals of a company and feeling good about working there.

Enabled

Sustainable Engagement

• Making it easy to get things done.

• An employee will stay late to complete that one extra task if there are no obstacles to that work and the systems to deliver it are efficient.

• Barriers to meeting work challenges are frustrating and discouraging.

Energized

Sustainable Engagement

• Energizing employee performance is putting fuel in the tank.

• Low capacity can come from high workloads, unsupportive colleagues, or highly stressful workplaces.

• These challenges eat away at accomplishment from work, no matter how much effort is exerted.

Engaged

Levels of Employee Engagement

• Take responsibility

• Produce high quality work

• Desire to progress

• Admit their mistakes

• Collaborate with others

Disengaged

Levels of Employee Engagement

• Run from responsibility

• Provide bare minimum

• Constantly look for new jobs

• Make excuses

• Avoid interactions

Not engaged

Levels of Employee Engagement

• Employees who are “not engaged” are psychologically unattached to their work and company.

• Their engagement needs are not fully met, and they are allotting time but not energy or passion into their work.

Engaged

Levels of Employee Engagement

• Highly involved in and enthusiastic about their work and workplace.

• Drive high performance and innovation, and contributes to move the organization forward.

Actively Disengaged

Levels of Employee Engagement

• __________ employees are not just unhappy at work. They are resentful that their needs are not being met and are acting out their unhappiness.

• Every day, these workers potentially undermine what their engaged coworkers accomplish.

Positive Working Culture, Inspiring Leadership, Meaningful Work, Professional Development, Freedom: Sense of Autonomy, Recognition

What are the 6 drivers of employee engagement?

Impacts the bottom line, Drives the customer experience, Makes for a more productive, safer work environment

What is the importance of Employee Engagement? (3)

Employee Engagement Impacts the Bottom Line

Importance of Employee Engagement

• Companies with high sustainable engagement outperform their sectors in terms of earnings growth by an average of 18%.

• Companies with low scores on all three sustainable engagement factors perform the worst, as evidenced by rates of change in gross profit and total assets that are 3% to 13% below sector averages.

Employee Engagement Drives the Customer Experience

Importance of Employee Engagement

• In a global financial services organization studied by WTW, bank branches with the most engaged employees achieved customer satisfaction scores 19 points higher than units with the least engaged employees.

• In a large retailer, stores with high engagement levels received customer feedback ratings two points higher than stores with low engagement.

• In another study in banking, bank branches with the highest engagement levels also experienced significantly better customer loyalty than other branches.

Employee Engagement makes for a more Productive, Safer

Work Environment

Importance of Employee Engagement

• Employee behavior and productivity-oriented metrics also link with employee engagement.

• In a global mining company, job sites with the highest engagement levels completed work two percent above their target rate. While job sites with the lowest engagement levels, which completed work two percent below their target.

• In a telecommunications company, the most engaged teams reached 94% of goal for call times, compared to the least engaged teams, which averaged only 88% of goal.

• In a global manufacturer, the most engaged sites had half the rate of work injuries compared to the least engaged sites.

• Employee turnover links with employee engagement levels. In a synthesis of results across five retailers, rates of employee turnover were 23 points lower in stores with high engagement versus low engagement.

Positive Working Culture

6 Drivers of Employee Engagement & Strategic Outcomes

• Organizational culture is where shared values and practices of the people are regarded as a means that drives the achievement of organizational goals.

• Employee engagement is a primary result of high-performance company culture as it only draws behaviors and standards that are healthy and reassuring.

• The organizational culture requires constant improvement for long-term benefit. The organizations investing in better working culture perceive rising employee engagement.

Positive Working Culture

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes:

• Flexible and support work environment

• Relaxed, collaborative and happy employees

• Fosters positive social relations

• Boosts commitment and performance

Inspiring Leadership

6 Drivers of Employee Engagement & Strategic Outcomes

• The inspirational leaders kindle a fire within their employees and followers that drive them to act.

• The ability to inspire is one of the important leadership skills that separates great leaders from average ones.

Inspiring Leadership

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes:

• Dedicated followers

• Sparks passion and creativity

• Facilitates progress towards goals

• Enhances a strong sense of purpose

Meaningful Work

6 Drivers of Employee Engagement & Strategic Outcomes

• Employees crave to know their work serves others, not just themselves. It helps employee feel a part of something larger than themselves.

• Leaders and managers real and open conversations with employees help to understand the connection between work and personal life values.

Meaningful Work

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes: 

• Greater drive for producing results

• Higher job satisfaction

• Increased employee retention

• Builds supportive relationships and a sense of community among people

Professional Development

6 Drivers of Employee Engagement & Strategic Outcomes

• Recognizing individual expertise and giving career development opportunities for employees to advance their skills is a significant element in a sound talent management strategy.

• Workers believing in not developing their skills are more likely to leave the company than those learning new information and advancing their careers consistently

Professional Development

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes:

• Increases the collective knowledge of the team

• Boosts employee confidence

• Creates a positive company reputation

• Attracts highly driven and career-focused talent

Freedom: Sense of Autonomy

6 Drivers of Employee Engagement & Strategic Outcomes

• Job autonomy follows a positive connection with engagement and it works as an antecedent of commitment.

• Autonomy is not about letting employees be independent. Promoting autonomy at work means empowering employees to be self-starters, giving them stewardship over their work and their environment, and providing support instead of exerting control.

Freedom: Sense of Autonomy

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes:

• Positive effect on employee overall well-being

• Drives higher employee motivation

• Optimized productivity

• Facilitates greater comfort and less stress

Recognition

6 Drivers of Employee Engagement & Strategic Outcomes

• Employees always feel a lot more appreciated when their managers mention their hard work and see their jobs and the workplace more pleasant as a result.

• A report by the Society of Human Resource Managers in 2015 explained the influence of recognition on employee engagement. It determined that companies with employee recognition programs and excellent career development direction observed a 63 percent increase in employee productivity, a 58 percent profit on their profit margins, a 52 percent rise in customer retention, and a 51 percent boost in employee retention.

Recognition

6 Drivers of Employee Engagement & Strategic Outcomes

Strategic Outcomes:

• Improves employee-manager relationship

• Improves employee morale

• Employees feel valued

• Cultivate a culture of self-improvement