creating a compellingdownload.microsoft.com/documents/australia/partner/apc08/day2/thursday... ·...
TRANSCRIPT
A Recipe for Success...
Step 1 : Understand Talent
Step 2 : Know Why People Stay ... And Why They Leave
Step 3 : Get Personal
Step 4 : Create a Strategic Plan
Step 5 : Make it Real
Step 1 : Understanding Talent
“Human Resource Management becomes the business
strategy when knowledge workers are the winning resource
for an organisation”Adapted B.Groysberg, 2005
Harvard Business School
• The most productive employees are about TWICE AS GOOD as the
least productive
• In Knowledge industries stars’ impact is out of proportion to their
numbers
– R&D : Top 1% : 5 to 10 times
– Computer Programmers 8:1
– Analysts : Top 5% : 6 times
“Nature vs. Nurture” : The Theory
Nature
• Star performers are born
• Managers attribute the differences in productivity between star and non-
stars to differences in in-born traits
• Managers will hire large numbers of workers, hoping that with some luck,
some stars will emerge
• “Magic bullet: : An in-coming star will quickly bring in huge business
Nurture
• Star performers are made
• There’s little difference in the cognitive abilities of stars and average
performers
• Stars can be developed through training, mentoring and incentives
• Stars are dependent upon their surroundings and environment
“Nature vs. Nurture” : The Reality
• Stars’ performance is NOT portable across firms
• Stars need to learn the new culture and develop workable
relationships – very time consuming tasks
• Even with developmental guidance from the organisation, stars still
face stiff odds
• Stars show resistance to change, believing that they have little to
learn
• Stars have invested in a “recipe for success” which they are fearful of
tampering with
• Stars who switch employers show an immediate decline in
performance which can persist for up to five years
Growing & Retaining Talent is a Commercial Imperative
Step 2: Knowing Why People Stay ...
Informal
Formal
Variety /Quality
Ability toimpact
Network / access to Leaders
Challenging work
Global, Lateral,Upward
Development
Transparency of promotion
path
Support throughhard times
Time forrelaxing
Time forwork study
Market competitive fixed pay
Variable pay to reward
contribution
Pay Recognition
Work / life
balance
Career
path
Nature
of work
... And Why People Leave
Pushing Factors ...
• Don’t enjoy the work that they do
• Poor work-life balance
• Not a good values “fit” with the culture / industry
• They do not like / respect their manager (# 1 reason)
Pulling Factors ...
• Career growth will be better
• Compensation & benefits are higher (real or perceived)
• Skill marketability
• Competitors brand and reputation
Step 3 : Get Personal
• People are individuals first and employees
second
• Trust them
• Help people say “YES” to these four key
questions:
– Do I know what is expected of me?
– Does my Manager care about me?
– Am I a good fit?
– Can I see a future here?
Leadership BehaviourGlobal Mobility
Initiatives
Coaching
& Mentoring
Benefits ChoiceDiversity Strategies
Training
& Development
Recognition Programs
Citizenship &
Community Efforts
Flexible Working
Options
Career
Path Planning
Congruent System &
Symbols
Focus on What Matters Most ...
Differentiated Reward
for Performance
... To Build an Integrated Approach
Fixed Variable
Managers &
Above
Below
Manager
Remuneration
Packaged
Benefits
Profit Share
Discretionary Bonus
Formal &
Informal
Recognition
Nature of Work / Job Design
Benefits
Additional
Company
Benefits
Recognition
& Reward
Development & Career Path Planning
Work / Life Balance
Brand, Citizenship & Culture
Step 5 : Make it Real
• Be Curious
• Leadership Commitment – are they up for this?
• Building Management Information
• Avoid defensiveness - See “the Gap” as an
opportunity to improve
• Invest in People Managers
• Prioritise– “Show me your cheque book and your diary and I’ll show you
what you value”
Final Reflections
1. A Clear People Strategy is an Essential
Commercial Imperative
2. Good Diagnostics are Critical
3. Invest Purposefully
4. The Grass is Not Always Greener
5. Managers Matter
6. Get Personal
“Every day I face new and different challenges. Every day I learn
something new from an avenue I didn't expect. Every day I grow a
bit more in myself, as I understand more about myself and how I
react to different situations and pressures. Every day I report to an
open and respectful manager, who encourages and motivates me
to achieve. Every day I meet new colleagues who are intelligent,
dynamic and passionate about what they do, and who vary greatly
in terms of experience and background. Every day I speak to
customers who are genuinely happy to have impactful and
important conversations with me about how our technology can
help them to improve their business in better, faster ways. ... And
every day I love to come in to work.”
Microsoft Employee (Anonymous),
Source : Hewitt Best Employer Survey, 2007
What’s the Prize?