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Attracting and Retaining Critical Talent Segments Employee Value Proposition - experience offered by an employer in exchange for the

productivity and performance of an employee. Allows for flexibility to target key employee groups such as high performers, criticalskill employees and high potentials Employers have not made the connection between employee well-being (e.g., flexible scheduling, time off) and an employees decision to join an organization Better alignment of EVP and the brand can lead to improved line of sight, encouraging employees to adapt behaviors that will deliver the brand promise Brand and company reputation are key factors in attracting and retaining talent People are the key factor in delivering the brands promise to customers Effective brand alignment requires Human Resources and Marketing to work together to develop a fully integrated and aligned employee and customer experience Attractive employment value proposition decreases the compensation premium required to attract candidates

What is needed to be successful A well articulated plan outlining objectives, deliverables, timing and the ROI o Ensure quantitative and qualitative data is collected and shared Spend time with stakeholders up front to build awareness of employment branding and EVPs A multi-skilled, multi-generational project team: HR, finance, IT, communication, business unit, students, new hires, tenured employee Early adoption by leadership to change behaviors and model EVP expectations o Targeted leadership training recommended A rigorous change management approach o Actively involve and engage stakeholders throughout the process Measure and test throughout the process demonstrate ROI Maintain momentum once stakeholders are engaged. Avoid lengthy delays between milestones

Economic Recovery Brings Workforce Challenges and Opportunities Companies will need to review and retool workforce and talent management strategies as the economy improves Top performers feel the employment deal has changed. Well-planned workforce and talent management actions can help companies navigate the post-recession recovery without losing key talent. o Define critical competencies o Identify pivotal employees o Show pivotal employees they matter o Update and emphasize the employee value proposition o Adjust compensation o Retool selection criteria and procedures o Review the pros and cons of rehires o Plan ahead o Develop top performers o Address employee engagement Tackling talent management Talent management approach needs to be structured and well thought out Value of talent management: some headlines o In Hay Groups Best Companies for Leaders study, those with the best talent management practices outperformed the rest by eight times total shareholder return o In a study by the Institute of Work on manufacturing, 20 per cent of the variation in productivity and profitability was down to better people management. Whats more, this was a better predictor of profitability than strategy, technology or R&D. o According to global pollsters Gallup, engaged employees in the UK take an average of 2.69 sick days per year; the disengaged take three times as much. o It is often quoted that people leave poor managers not poor companies. Employees working for talented leaders are 87 per cent less likely to leave, a huge advantage when replacement costs equal on average 1.5 x annual salary Corporate Leadership Council o In organizations with strong talent and engagement practices, 67 per cent versus 33 per cent advocate their company to others. Gallup o Staff in local authorities rated as excellent for talent management had much better results than those in weak or poor local authorities Mori Common Challenges to talent management o No clear vision by senior leaders on what talent management can do for the organization o No clear, future-focused definition in terms of what to aim for what success looks like here o Talent management seen as the function of HR, not a business accountability supported by HR

o No distinctive talent proposition that differentiates from the competition, or one disconnected from reality o The wheels of talent management spin but dont mesh line managers fail to address underperformance, even when chronic o Focus is mainly on development as the easy default option, at the expense of tough measures to get better deployment o Not enough quality time devoted to talent management o Line managers confuse performance with potential o Aspirational values and behaviors bear little relation to whats rewarded o Lack of talent management infrastructure and online systems Put your best people on your biggest opportunities, not your biggest problems Talent management now focuses on the entire workforce Considering your business and talent strategy in relation to all seven levers o Leadership o Values and culture o Competence o Performance recognition o Management Processes o Organization design o Work Process Talent Management described in 6 activities o Define What kind of talent do you need to realize your strategy? Derive your talent management activities from your organizational strategy this is your aiming point o Attract How do you attract the best talent to meet your needs? Review your employee value proposition and challenge yourself to be different o Select How do you select the best talent to achieve your aspirations? Be clear on your aiming point or benchmarks, your target culture, values and behaviors and what talent management is trying to deliver o Develop How do you best grow your talent to meet your future needs? Invest in enhancing the impact of leaders on their teams and develop people though challenging role moves and assignments o Engage How do you best reward, engage and retain your talent? Rigorously align talent management with your engagement results and reward incentives so you get what you pay for

o Deploy How do you best deploy, redeploy and manage the exit of your talent? Institute an upward reporting, line-led, objective process for reviewing and deploying talent optimally 10 actions for effective Talent Management Integration o Insist on a decode of the business strategy into what it means for future roles and people o Define your aiming point the future-focused behaviors that predict leadership success o Embed those predictive behaviors in all your performance and talent management activities o Reclaim talent as a corporate asset and refuse to accept tick the box succession planning o Conduct an objective talent review, against the right future- focused behaviors that drive results o Challenge underperformance and take supported risks with hidden diamonds o Work hard on engaging and retaining all your talents o Ensure talent, reward and organizational design pull in the same direction o Ensure line managers own talent management, supported but not led by HR o Embed talent management metrics within peoples performance plan How the Worlds Most Admired Companies sustain success Focus on priorities for growth WMACs actively target growth sectors and emerging markets more than peers Culture of innovation for WMACs, innovation is an organizational capability, not a separate department o If employees are encouraged to proactively spot problems, fire off ideas and strive to improve things that already work just fine, the company is in a state of constant innovation. Its this readiness to improve and change that makes WMACs so adaptable to fluctuating conditions. o Simplifying work processes to manage workloads and increase efficiency, along with restructuring or reengineering the organization to enable strategic delivery more effectively or at lower cost, is seen as a top priority or very important over the next two years. Employee involvement and enablement from work-life balance issues to rewards that are tightly linked to performance, WMACs do more to equip employees to succeed. o Long-term solutions to work-life balance concerns need to focus on helping employees work more productively, decreasing the likelihood that work tasks will crowd out personal time. 44 percent of WMACs think its a priority to address work conditions that inhibit success, while 34 percent of peer firms share this view

Potential for what? Insights into selecting the right leaders to secure your competitive future Best practice organizations are not only more productive; by constantly getting the management of high potential talent right, they also survive and win on into the future. o Talent management is the process by which an organization puts the right mechanisms in place to deliver competitive advantage through the effective management of its people. In other words, ensuring the right people are in the right roles at the right time to deliver on strategy now and in the future Organizations considered by their peers to be best at talent management get the best return on their investment by o Evaluating who has the growth factors that predict long term potential o Evaluating how peoples abilities fit with specific types of roles, not just at their current level but also at higher levels and for roles in other functions o Enhancing potential, once identified, by giving experiences that act as catalysts to leadership development and growth o Creating processes to ensure that talent flows through the organization in the right sequence of roles to maximize the chances of potential being fulfilled 3 questions to ask for possible potential o Are they ready? o Are they willing? o Are they able? Potential is the fit between a persons current capabilities and possible future roles, taking into account the persons longer term capacity for personal growth and their possible derailers. o What measurable characteristics would predict the best returns on investment? Recognizable early Useful in many or most high-level leadership roles Difficult to develop Not strongly associated with significant derailers Not good indicators of growth potential o Being the very best performer in the current job o Expressing great personal ambition and drive Growth factors that enable people to develop over time o Thinking beyond the boundaries Does this persons thinking make useful connections well beyond the normal boundaries and timelines of their job? Do they think in a fresh creative way or a useful way about the big questions, the big problems and the longer timeframe that properly belong to a larger role? Do they make complex issues straightforward and grounded in reality? o Curiosity and eagerness to learn Does this person display curiosity and eagerness to learn that goes well beyond what is normally expected in their job? Does this person readily take on tasks or roles that are new and challenging to them, embracing the implicit risk in trying something new?

o Social understanding and empathy Does this person listen carefully, ask clarifying questions and not jump to conclusions about other people and their motives? Is this person motivated to understand others? Does this person treat others with respect and see the positive in others more often than they see faults or shortcomings? (Someone who constantly finds the faults in others however accurately is NOT showing empathy) Does this person consistently bring out the best in others? o Emotional balance Does this person have emotional stability under difficult circumstances? Or do they stress out and make things even worse? Do they recover and learn from their mistakes? Or do they sulk or blame others? Do they seek out and take constructive criticism well, learning from it to improve their performance? Or do they become defensive or keep making the same mistake again and again? Do they focus on what is best for the group as whole? Or do they see every issue in terms of how it affects their personal reputation and career? Derailers o laissez-faire mistake o job rotation mistake o a good manager can manage anything mistake o moving-too-fast mistake Five key steps to identifying and managing potential o Know what you need from people Start with strategy, use strategy to define which behaviors and qualities you need from people and which roles are most crucial to execute that strategy. Then focus your selection and development efforts on those roles, behaviors and qualities. o Identify long-term potential through the growth factors not just job-specific abilities, or past performance o Potential for what? Dont mistake performance for potential or potential for readiness for promotion. Distinguish between long term leadership potential and short term job-specific potential. Remember that being a star performer is a state (of a good fit to a job) and not a permanent trait. o Fulfillment of potential simply promoting high potentials or rotating them through assignments is not enough; they need significant care and development attention to ensure that their promise is fulfilled.

o Create enabling systems to effective talent management Processes need to help find and promote hidden diamonds and there needs

to be mechanisms that inject objective data into the decision making processes around best deployment of talent. The key is to ensure the business strategy is translated into a people strategy and all HR leaders pull in the same direction Recruiting and attracting talent

Establishing Recruitment Objectives o Number of open positions to be filled. o Date by which positions should be filled o Number of applications desired o Type of applicants sought Level of education Knowledge, skills and abilities Interests and values Diversity o Job performance goals for new hires o Expected new-hire retention rate Develop a Recruitment Strategy o What type of individuals should be targeted o Where can these people be found o When should the recruitment campaign begin o How can the targeted individuals best be reached o What recruitment message should be communicated o What type of recruiters should be used o What should be the nature of a site visit o What should a job offer entail Carry Out Recruitment Activities o Placing ads on billboards, in subways and other public spaces Measure and Evaluate Recruitment Results o Time-to-hire o Cost of filling the position o New employee retention rate o New employee performance level o Hiring managers satisfaction with the recruitment process o Applicants perceptions of the recruitment process Job Applicant-Related Variables That Affect the Recruitment Process o Attracting the attention of targeted individuals o Generating individual interest in a job opening: Position attractiveness. Expectation of a job offer o Accuracy of the applicants position expectations o The applicant decision-making process The decision to apply The decision to remain a candidate during the entire recruitment process The decision to accept a job offer if one is extended

Recruitment Methods: how to reach targeted employees o Employee Referrals o Organizational Web Sites o Job Boards o Social Networks o College Recruiting o Seeking Job Candidates in Unusual Ways Customers as prospective employees Other Recruitment Considerations o Timing of recruitment actions o Recruitment Message Does the message present information important to your target group? Is the information specific? Is the information realistic? o Organizational Site Visit Be flexible in scheduling the visit to accommodate the applicants schedule. Send relevant materials, including a schedule, company literature, maps, directions and a parking pass, before the visit Recruit a prospective co-worker to host the visit Provide impressive hotel accommodations Make sure that key individuals are available during the visit. Pay attention to details, such as meeting the candidate at the airport or greeting him or her at the front door How to Reach Targeted Individuals Who Are Not Actively Looking for Positions o Use employee referrals. o Use radio and television advertisements. o Ask newly hired individuals for the names of potential recruits. o Send direct mail to members of relevant mailing lists, including professional associations and clubs. o Place billboard ads in relevant locations. o Ask individuals who declined job offers for the names of recruits. o Contact former employees. o Visit places of business and recreation that targeted individuals frequent. o Use social networking web sites. Using branding to attract talent For a company to exploit its brand effectively when looking for talent o Must think of recruits as customers o Use sophisticated marketing analysis to identify key rivals o Determine which corporate attributes matter most to specific types of recruits o Understand how best to reach them Developing a High Performance workforce

Influence Through Personal Effectiveness o Be an Agent of Change o Personal and Practical Needs o Listen to Learn o Prevent, Dont Resolve o Trust Partner with others o Results Clear focus on results and purpose o Process Teams must have processes to complete tasks, identify problems, and reach agreement o Communication Respect is at the core of any successful team o Commitment o Trust Build customer loyalty o Seek understanding o Client-centric communication o Take the heat

http://bls.gov/news.release/pdf/ecopro.pdf - Bureau of Labor Statistics o Labor force and macroeconony trends o Employment metrics http://www.ilo.org/washington/ilo-and-the-united-states/spot-light-on-the-us-labor-market/lang-en/index.htm - Spotlight on the US Labor Market o US Labor Market Data o Union Membership o US Youth Labor Market http://www.ihs.com/products/global-insight/industry-economic-report.aspx?id=1065971581 - US Labor Market Insight Skilled workers are out there, but workers in depressed regions are less willing to relocate and are finding jobs in other industries. Going forward, construction firms may find themselves increasingly competing with mining and utilities companies for skilled workers, particularly in welding occupations. Wage rates for skilled workers will out-compete industry averages. Nevertheless, we do not foresee a return of the strong wage rates experienced during the construction boom.