October 22, 2015 Top Talent …Your Best Competitive Weapon

What Do We Know About Talent?  There is a Shortage of Skilled Talent  It’s a Math Problem / 75M Boomers vs. 45M Gen X, Ys  Demographics are Changing / Different Values and Motivators  Average Tenure for U.S. Workers is 3 Years (<35 years old)

It’s Harder to Find Good People…

… And They’re More Willing to Leave

What Should You Do? Recruit Engage Develop Retain Consistent Talent Management Strategy 1.Recruiting top talent – predicting candidate behavior 2.Engagement – setting expectations, recognizing potential, building a strong culture 3.Development – optimizing employee behaviors to maximize performance 4.Retention – retain the best, upgrade the rest

How Does This Apply to You?

1. Recruiting Hire the Right People Skills and Experience Behavioral Traits Interest and Attitude Know Who You Need Talent Assessment Succession Plan Strategic Direction, Goals, Objectives Structure Your Approach Pre-hire assessments Defined hiring process (behavior based) Enforce discipline Cost of a Bad Hire? 1-to-2 Times Annual Salary Cost of a Bad Hire? 1-to-2 Times Annual Salary

Behavior – key to job fit

2. Engagement Direction: Chart the Course for Employees Culture: Create a Working Environment that Drives Engagement Development: Provide Professional Development Opportunity Coaching: Coach Employees for High Performance DirectionCultureDevelopmentCoaching

Gallup Study Source: Gallup Management Journal, 10/12/06 56% 29% 15%

There is a cost

3. Development Assessment – Core Behavior, Communication, and 360 (perception) Identify High Potential Talent – look for hidden talent / potential Succession Planning – more than the executive level. All leadership positions and key roles / responsibilities Customized Training Programs – classroom, executive coaching, online e-learning, video based training, reading

4. Retention No More Golden Handcuffs!! How Do You Get Them to Stay?  Decide / Consensus – What type of company do you want to be?  Select people who fit your culture  Leadership must be valued: Integrity, Competence, Compassion  Manage the Business – Lead the People  What should you do with the “High Value Jerks”?  You’re not going to keep all of them forever – single digit attrition is good

What About Retention Perks??? Good benefits package Provide flexible schedules Increase employee recognition (awards, cash prizes, company trips) Ask employees what they want and put feedback into action Increase training and learning opportunities Hire additional workers to ease workloads Provide academic reimbursement Carve out specific career paths and promote more Institute a more casual dress code According to a 2013 study by CareerBuilder with 6000 managers & employees …

Summary Its not difficult…but requires Planning Buy-in Consistency Discipline

Thank You for Your Time! David Liddell Next Webinar: November 2pm Coaching & Mentoring Your Employees