We Blew it Up! Performance Management 1 Year after the Revolution

Transcription

1 ta We Blew it Up! Performance Management 1 Year after the Revolution Four Keys to Becoming a Talent Magnet Company Pamela Stroko, Vice President HCM Transformation

2 2 Image: The Fiscal Times

3 Talent movement will continue to escalate

4 Job seekers are confident and there is more volatility ahead 28 percent of employees in the US and Canada have considered leaving their employer and moving to a competitor within the last 12 months. Nearly half of US employees are confident they can find a job that matches their compensation level within six months of beginning a search. In the tech industry, confidence is significantly higher; two thirds say they could find a better job in 60 days. In 2018, 49 million more employees will be leaving their current employers compared to 2012 representing 192 million employees worldwide turning over. Universum: 2015

5 The talent market will get even more competitive The labor market is close to a normal environment and getting back to pre-recession levels The number of people saying jobs were plentiful exceeded the number of people that said jobs were scarce by 2.6%--the best number since the great recession 5 Conference Board, September, 2016

6 Underlying shifts in the workforce are changing the talent economy for decades to come Gigging and the wave of non-traditional jobs 33% of workers say they have a second job; 56% predicted they would have multiple jobs in the future (Adobe, 2016) 55 million people are choosing freelance work 35% of the total workforce 81% of traditional workers surveyed said they would be willing to work outside of their primary job if they could make more money (Upwork and Freelancers Union, 2016)

7 The talent shortages in the job market make job switching very appealing With nearly 7 million unfilled jobs there is a lot of choice for active and passive job seekers

8 A view from the PWC CEO Survey, January 2017 PWC CEO Survey, January, 2017

9 The View from the Top 2017 PWC CEO Survey results PWC CEO Survey, January, 2017

10 The total picture for the cost of voluntary turnover Bersin by Deloitte 2016: The true cost of employee turnover

11 Research Overview What we wanted to know What do talent magnet companies do differently than everyone else? How do leaders champion talent? What is the role of culture? Is it transferable and sustainable? What advice or actions are applicable to your organization?

12 Passion Energy Perseverance Engagement Connection Great Results Commitment

13 Ultimately Talent Magnet Companies Live their Values Image: chrisakins.com

14 The Values that Strongly Guide Talent Magnet Organizations

15 In Talent Magnet Companies Leaders own the values-culture translation.hr facilitates, guides, and advises Image: Quotesyou.com

16 Being who you say you are.

17 Values that create an authentic culture Image: Linkedin

18 How Culture Works A Phenomenon common to all living systems

19 Where is the Cultural Set Point in Your Organization? Is energy pulling away or back towards that set point?

20 The Four Keys to Building a Magnetic Culture

21 Employee Experience can be a key differentiator for candidates 60% of job seekers have had a negative candidate experience 72% of those people share their experience on Glassdoor or other social sites Virgin has created a new candidate experience for all of the people they could not hire and it has turned into a new $7 million dollar revenue stream Forbes.com, 2016

22 Employee Experience Journey Mapping

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25 Translate values into culture through talent management processes Image: Linkedin

26 Values get translated into culture through talent processes Values are the what with talent processes the how At every step of the way is what employees experience a reflection of your values? Image: Pintrest

27 Does any of this matter to business performance? Confidential Oracle Internal/Restricted/Highly Restricted 27

28 A set of perceptions that employees have about their experiences at work in response to their interactions with the organization --Globoforce, 2016 Employee Experience Index Confidential Oracle Internal/Restricted/Highly Restricted 28

29 People with positive employee experiences are twice as likely to stay.and 52% less likely to intend to leave Employees with high index scores had 23% higher work performance The more positive the employee experiences the higher the discretionary effort nearly double the discretionary effort Globoforce, 2016 Confidential Oracle Internal/Restricted/Highly Restricted 29

30 Creating a Talent Magnet Organization It is a continuous emphasis on the experience leaders want for employees Supported by an on-going systemic effort to cultivate those experiences using technology to support the culture Talent processes were designed and implemented to facilitate, not inhibit Talent processes and resources help create and sustain positive, productive interactions in the organization in the Images: Linkedin, 2016

31 Live Long and Prosper

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