Join me for a 6 part series as I take your through a clients’ discovery process of workforce 2015 and how it will effect them.
With a rocky economy, emerging industries on the rise, heightened foreign competition, three generations in the workforce, Sr. level leaders thinking about and planning for their next five years and a sea of other pressing high risk issues facing Corporations, the need for competitive talent is now more than ever paramount to long term success and effectiveness.
While some companies struggle just to stay afloat, others are building long term programs that focus on Talent Attraction, Management and Retention. During the dot com bust and the Y2K fallout most companies dropped their talent budget in service of survival; that budget continued to lay dormant for most of the current decade, until now. What many of these companies failed to plan for was the baby boomer retirement wave as well as the new level of high performer needed to leverage a companies ability to thrive in an every changing, high demand market place. With 2015 right around the corner and the global workplace being in high demand for the same top level talent, smart companies are taking this time to shape their organization in the context of the talent mindset and building their human capital infrastructure.
The Society of Human Resource Management reports that 6 of the top 10 Workplace Trends are directly related to talent acquisition, selection & retention. The number 1 trend to most likely have a major impact on the workplace is workforce retention, and the most critical HR function effecting business strategy is Staffing/Employment and Recruiting.
Now is the time to delve into your retention issues, dispel the myths and uncover critical issues that affect your ability to attract and keep high performers. You can learn a strategic approach to assessing your real human capital needs and impact the whole human capital strategy. It starts with asking yourself and your leadership team these questions:
What is our Turnover Rate?
What is the percentage of our people who are hitting their targets? Why is it that way?
How is our hiring process helping us or hindering us?
What is our talent mindset?
Who are our high potentials? Why are they considered high potential? What are their common elements?
How do we promote people?
How do we prepare people for career pathing internally?
Are our people engaged?
What is your on boarding program and does it create engagement from the start?
What is our position on work/life navigation?
What is our retention plan? Is it appropriate for the changing workforce?
Then it is time to test your hypothesis with data collection.
Assess the people in the succession plan, as well as the people who are in leadership roles at all levels. We recommend you do not do this internally as your people will respond more freely to an outside consultant.
1) Use a 4 part tool that evaluates the persons values, behaviors, 23 leadership competencies and emotional intelligence.
2) Conduct “Stay Interviews” -find out why people stay and what they want