Retaining Talent – “The Gauntlet”

There are some very obvious statements we can make about successful retention of talent. It is important as:

  • It drives the business
  • Sets great examples for all employees
  • Success statistics are great recruiting “tools”
  • It is a testament to talent management process
  • It supports the best face of company
  • Presents continuous challenges and opportunities
  • Minimizes talent losses

How to retain it:

  • Secure the support of top management
  • Create related budgets to fund the process
  • Teach your managers to keep their “ear to the ground”
  • Have a strategy and continuous improvement practices in place
  • Involve employees in related process improvements
  • Expect bumps along the way
  • Communicate, communicate, communicate

Seek out best practices of other companies and consulting firm views on the subject – a great way to stay ahead of the competition, obtain fresh views on the subject, and build and internalize a process that just may be benchmark worthy. You know you have arrived when other businesses are seeking out your advice because you have great success stats in talent management and retention.

About “The Gauntlet”

When it is obvious that talent losses are forthcoming, or, a talented professional gives notice of leaving the company, create a team of “A” level managers to meet with the “defector” to point out the advantages of staying with the company.  If the business has a good talent management process and success statistics, these are great topics for discussion as the departing professional runs the “gauntlet” of discussions with the “A” level managers, to include the top manager/leader of the business.  It is also a great opportunity to reinforce the anticipated career path in the business.  I have seen this work many times; on occasion airline tickets are involved to connect the professional to the right leaders.  An airline ticket is far less expensive than losing the talent, the cost of replacing same, related retraining, and the certain impact on peers, other parts of the business, and customers.

Related links:

http://www.hrmorning.com/10-most-effective-employee-retention-methods

https://www.thebalance.com/top-ways-to-retain-your-great-employees-1919038

 

***** S&E *****

Influence: Impact of Behavioral Competencies on Careers

In previous posts the blog discussed the importance of Behavioral Competencies to professionals, their careers, as well as organizations.  Examples of “critical to career” competencies would include Accountability,  Analytics,  Integrity,  Humor, Drive, Persistence, Kindness, Common Sense, Communications,  Flexibility, Dependability,  Adaptability, Professional Presence, Business Acumen, Team Player,  Leadership,  Intellect,  Passion, Humility, Compassion.

And so the list does not become overwhelming, it is important to know that some competencies are scalable over the course of careers.  Said another way, professionals become better equipped, in the area of Business Acumen, as they gain experience in varying assignments, positions, locations, and with peers and bosses. Scalability would also apply to other Competencies such as Leadership, Analytics, and Professional Presence.

A byproduct of building an array of Competencies is the ability to be a significant influence in business (also applies to private life).  This graphic from an IHRCC seminar displays how competencies and influence interrelate.

The graphic suggests that, as a professionals gain experience, skills, knowledge, scope, and discerning professional behaviors, they will differentiate themselves among their peers in performance, influence, and most probably career success.

Referencing the graphic, if you are a believer in bell-shaped curves, then you may agree that as the population distribution moves to the right, talent increases, performance increases, and compensation increases. So the organization’s high potentials, top performers are represented by the right side of the curve and might be 16% to 20% of all professionals.  Obviously, the objective is to increase that number.

So assuming the population is large enough for a bell-shaped curve to be applicable, the above is not much different from what one might find in college classes, about the same distribution of grades (performance) among the students.

***** S&E *****

Talent Management – Creating Space

Creating space in the business for new talent is all about renewal… new professionals, new perspectives, new ideas, and building a bank of future leaders.

“Exporting Talent” (ref: post May 17, 2018)  is one way to “Create Space” and add additional talent to the organization.  Vacancies created by lateral development transfers and promotions create opportunities to fill new vacancies with even more talent.

Yet another very necessary method of creating space is using due process to move along non-performers to appropriate different positions (getting the round peg in the round hole) or out of the organization entirely.

Some comments about due process:  No surprises is the key – this means the professional has had meaningful performance reviews, understands their short-comings with respect to position requirements, has been given coaching and an opportunity to improve, and in the end is not surprised by the organization’s decision to reposition them in a different position or separate them from the business.  This of course assumes the professional has been on the job for sufficient time to perform.

Due process relies on established objectives for the position which are the basis for measuring a professional’s performance.  Accomplishing specific projects, meeting established milestones, having the necessary skills to perform the job, and appropriate ethical and professional behavior are major factors in  performance based, due process driven employment decisions. The post under “Success”, Talent Management – Recruiting and Selection, January 28, 2018, discusses the importance of professional behavior — “Effectiveness Competencies”

Removing non-performers is vital as it offers open positions for promotions and sends a message to other organizations’ professionals that there are standards of performance in the business.  For the manager who makes the decision to remove the employee, it is a vote of confidence in his ability to manage as professional employees usually are aware if employees with whom they interact fall short of the mark of performance excellence.

Failure to change out poor performers can be a morale killer in the department or business.  Poor performance, and other than professional behavior, is almost always visible to peers.  And supervisors and managers who lack the skills to professionally manage their people are usually visible to other professionals as well.

***** S&E *****

Talent Management – Exporting Talent—creating genuine value

We are talking about laterals or promotions from one department or company location to another — “Exporting” people to new positions to further their careers.  For many managers moving talent along to new opportunities is plainly just hard to do.  For skilled leaders, it is not.

Exporting talent strengthens the organization and sends clear, highly visible messages to other onboard professionals.  Moving talent says that the business is interested in and supports career growth.  And for those businesses who do this well and, who take the time to track statistical data associated with career growth, those businesses have a great story to tell and sell as an integral part of the recruiting process. Talent Management metrics are unbeatable when it comes to recruiting and the competition for talent.

Exporting talent broadens experience, presents new challenges,  new perspectives, new work environments, new learning situations, and new managers to test adaptability… all these  are advantages of lateral moves and promotions; that is  far from  an inclusive list. Global assignments are particularly valuable for the company and professionals who are willing and adaptable.  This list is a good example of the additives to career value.  And when compared to compensation it is clear that the latter does little to further a career.

When to export relies on the professional’s grasp of the skills and competencies developed in the present assignment.  It is not uncommon, and I so clearly remember this from my time in global work, to find many professionals having career time lines which had little flexibility.  Timelines that map out new assignments every two years, with no recognition that the learning provided on the current position has provided a strong basis for the next, can lead to failure on the next assignment.  Absent that recognition, inflexible timelines can prove to be a recipe for eventual failure.  It is management’s job to provide the coaching and mentoring to assure the move is appropriate and timely.

Exporting a ready professional is the highest reward for great performance. 

It requires time to sponsor a move, and, great, accurate communications. The process needs to anticipate the timing of the readiness of the professional.  It can take some planning and time to arrange the path.  Absent the appropriate timing and action, unwanted turnover can be the result.

Exporting talent also creates space… “creating space”, a topic dealt with in a later post.

***** S&E *****

Talent Management — “Killer Performance Reviews”

In this context, “Killer” is a good thing!

In the last related posting, April 9, 2018, the blog discussed Pay for Performance. That would prompt a specific discussion on the actual “performance Review”.

A simple description of a “Killer Performance Review”:  No surprises, both manager and employee are prepared, and both are satisfied or at least understand the outcome.Jump through hoops

It is very difficult to have a meaningful performance review if objectives were not established forming the basis for measurement over the period covered by the review.  So, the steps in the process might look like:  Establishing Objectives – Interim check points — on the spot recognition or assistance – the performance review itself.

Objectives should be Specific, Measurable, Achievable, Relevant, Timely, commonly known as SMART objectives.  The manager should communicate the department objectives.  The employee should draft the objectives with the manager scheduling a meeting to review the draft and discuss necessary adjustments. Both need to agree on the final set of objectives.

Interim check points: manager assesses if all is well with progress against objectives; as little as 30 minutes.  It is the employee’s responsibility to make sure the work is getting done.

On the spot recognition or assistance: encourage employee when it is clear progress is being made; provide assistance when it is apparent there are issues accomplishing objectives.

Performance Review:  dedicated time for manager and employee to discuss degree of accomplishment of established objectives.

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(Haag receives an all time low performance evaluation)

Manager role:  sponsor the process, communicate schedule for discussing objectives and performance reviews, encouragement, and assist with removing barriers as necessary to get the work done.  Utilize the final review as a basis for compensation and planning of training and development actions to support performance and career path.

It is important that training and development planning and discussion is separate from the performance review.

Employee role:  do the work, recognize barriers and make manager aware, ask questions, obtain clarification as necessary, provide updates, ownership of work, generate drafts of objectives and in the final report of related accomplishments (sets stage for performance review.

It is to the employee’s advantage to issue a quarterly report highlighting progress against objectives.  There are several advantages:  Maintains focus on objectives, updates the boss, provides the boss a basis for reports to superiors which highlights the work of the department and the employee, is an opportunity to highlight exceptions and issues, makes preparation for the annual performance review a breeze !

The greatest barriers to making this process a success:

  • Poor time management (either or both – boss, employee)
  • Not setting objectives
  • Setting objectives that avoid the SMART specifications
  • Poor communications during the period
  • Changes in the management organization
  • Making significant changes in job content or objectives during the period (minor adjustments might be expected)
  • Poor leadership

***** S&E *****

 

Talent Management – Pay for Performance (P4P) (Performance Management Process)

It is good to strike a balance when discussing compensation.  It is not the only motivator.  Spend a little time on the web searching “what motivates employees”. Substantial, professional studies and documentation support the fact that compensation is just one factor.  Other factors, for example, include job challenges, promotional opportunities, skilled leaders and managers, recognition, communications, and career development and skills training.  That does not diminish the importance that P4P plays in engagement, motivation and retention of talent.

Above all else, the company might have a world-class performance management system in place, but the system is only as effective as the leaders and managers who implement it.  A highly respected executive I worked for had a favorite phrase she applied when we had issues with turnover and poor managers, “Join a company…quit a boss”.

What makes performance reviews an effective tool for evaluating performance and establishing a base for compensation:

  • Leadership commitment to the process
  • A well-defined, well-communicated process (see example graphic below)
  • Supervisors/leaders who are skilled in managing the process
  • Ongoing recognition for good work – P4P is not a once a year exercise
  • Brief discussions were needed improvement is observed
  • Pay increases that are commensurate with performance
  • Needed improvement is funneled into training and development (T&D) planning
  • Appropriate action taken, with due process, for non-performers
  • The employee has to own it; the manager administers and manages the process

P4P ver 5

Managers who do not set objectives…!  The employee has the option and needs to generate a set of objectives for the year, publish quarterly updates related to associated progress, and keep the immediate manager updated on progress.

Also see this blogs January 4, 2018 posting for background on compensation structure.

It is important to conduct training and development discussions separate from performance reviews although the later can be a basis for T&D discussions, planning, and action.

***** S&E *****

Talent Management – Developing Onboard Talent

TM image from IHRCC

If you are a manager with reporting employees, Developing Talent is an integral part of the job.

If you are a professional reporting to a supervisor or manager, the information below a good check list to assess if the boss and the company are concerned about your future.

If you are interviewing for a position, you might consider using this information in an interview as a guide to see if the company is going to help develop your career.

Developing people is one of the greatest contributions a manager can make for reporting professionals.  It is a great experience to see an employee develop and grow a career to greater heights.   In a prior post, “The Leader – Manager 80/20 Balance”, was discussed (Feb. 17, 2018).  Developing Talent is part of that 20%.  Talent Development actions follow (it is not an inclusive list):

Attend to Skills & Competencies for the short and longer range, particularly competencies.

Create Challenges in the position’s work to build diversity in the work, and develop creativity and problem solving ability.

Use Rotational Assignments to keep it interesting, provide variety, and broaden perspective.

Assign Projects to learn process and see accomplishment.  Working on project teams is especially valuable.

(Rotations and projects also create visibility in the organization and help develop future opportunities for those who have the runway).

Arrange for Mentors to provide another voice and listening alternative.

Be a Coach to fine tune performance and assist in removing barriers

Use Recognition — so powerful – especially in the presence of co-workers.  There are so many forms: small mementos (desk pieces, plaques), company news, on site luncheons, cookouts, bonuses, training programs, verbal comments, cards or notes, industry conferences, customer visits, etc.  Think of involving higher levels of management when appropriate. Consider formalizing recognition process to encourage use and help maintain consistency in use across the organization.

It is not all about money… many forms of recognition can be creative forms costing little.

Training and Development are not the same.

Compensation is important but it is not the only motivator – in the absence of development, careers stagnate and loss of talent can follow closely behind.

****S&E****