harness your people potential dublin chamber of commerce presentation keith mccarthy, hr&od...
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HARNESS YOUR PEOPLE POTENTIALDUBLIN CHAMBER OF COMMERCE PRESENTATIONKEITH MCCARTHY, HR&OD CONSULTING DIRECTOR30 September 2015
AGENDA
1. Be more aware of the most challenging people issues facing business leaders and owners in Ireland today:
how might this impact your business/organisation?
2. Understand the influence/impact on people of you and your leadership teams’ management style:
how might this be impacting on people retention in your business/organisation?
3. Know some of the practical people solutions to enhance retention and productivity for your business:
is your business/organisation and management team focusing on doing the right things?
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THE MORNING’S VIEW
3
Perspective
WHAT WE ARE HEARING…
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LOOK AT WHAT WE KNOW
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EMPLOYEE MOTIVATION IN IRELAND TODAY
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86% of respondents are either motivated or very motivated in their work
14% of respondents are either demotivated or very demotivated in their work
Mazars Annual Motivation Survey 2015
MAIN MOTIVATING FACTORS
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THE WORLD OF WORK: RESEARCH
64% of respondents believe that their management team / leadership team is NOT doing enough to motivate them.
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Mazars Annual Motivation Survey May 2015
MOTIVATION: THE DELIVERABLES
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MAIN DEMOTIVATING FACTORS
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Lack of praise / recognition
Demotivating management style
Not dealing with the unsatisfactory performance of others
Financial rewards (pay / bonus)
Lack of a formal progression plan / appraisal system
Unchallenging work
Poor working environment
0% 10% 20% 30% 40% 50% 60%
56%
49%
44%
35%
28%
26%
24%
KEY REASONS FOR STAYING IN CURRENT JOB
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Key reasons for staying in your current job Overall %Challenging / interesting work 48%Financial benefits 35%J ob security 34%Nice people to work with 30%Work hours 26%Location 24%Lack of alternative options 20%Good boss 19%Culture of the organisation 16%Retirement benefits 13%Training / development opportunities 11%Other 3%
• Challenging / Interesting Work ranked highest in 2015 (48%) and second highest in 2014 (40%) – an increase of 8%
• Financial Benefits climbed to second place in 2015 (35%) from third place in 2014 (32%)
• Job Security ranked third in 2015 (34%) compared to first in 2014 (43%) – a decrease of 9%
• Senior Managers and Directors identified Challenging / Interesting Work and Financial Benefits as the top reasons for staying in their job, while Staff Members suggested Job Security and Nice Colleagues are priorities
Other Reasons identified include:
• Future Prospects
• Future Salary Expectations
• Clients
• Ownership
• Work-Life Balance
WHAT DO THE RESULTS MEAN FOR EMPLOYERS?
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Employers must carefully consider the following factors:
• Challenging & Interesting Work is a key reason for employees staying in their current job, ranking highest in 2015 and second highest in 2014
• Importance of Financial Benefits on motivation is increasing • Job Security is no longer considered the top priority, falling to third place in 2015, and this
is reinforced by the drop in Lack of Alternative Options as a reason for staying in ones’ current job.
• Employers need to recognise the link between their Management Style and key motivating / demotivating factors – the top three demotivating factors identified reflect leadership / management style
• Personal Satisfaction was rated as the main motivating factor – therefore employers must understand the factors that contribute to this for their employees
• Motivating employees doesn’t have to be costly, e.g. challenging employees, recognising their contribution, providing feedback, involving them in decision-making, communicating business goals, empowering them
• Are employers focusing Motivating efforts on the areas that employees actually consider important, rather than what they think employees consider important?
• Motivated employees are more likely to recommend their organisation to others as a great place to work
YOUR TEAM
Willing Unwilling
Able
Unable
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THREE PEOPLE CHALLENGES FACING BUSINESS
Challenge # 1:
Recruitment • Identifying and attracting the right
people
Challenge # 2:
Potential• Getting the most from your people
(maximising their potential)
Challenge # 3:
Retention• Retaining the people that you
have and managing the risk
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OPPORTUNITY # 1: PEOPLE MANAGEMENT ARCHITECTURE
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Recruitment & Selection• How we identify what we need• How we plan & execute our recruitment• How we select the right people with
potential
Probation & Performance Management• How we performance manage our people (the
system)• How we execute the process - how well
equipped are our managers• How we monitor application and compliance
Talent Management/ Retention• How talent is identified• How talent is managed• How talent is retained
Reward & Recognition• How we reward: Financial & Non-Financial
Rewards• How we align reward with Strategic Priorities• How we monitor and review
Learning & Development• How we identify development priorities• How we align our individual, team &
organisation management and employee development needs
• How we deliver our L&D and get ROI
Succession Planning• How we plan for succession• How we manage our corporate memory• We we link with development & talent
management
EMPLOYERS…..
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Recruitment & Selection• Be clear on the proposition• Be ready to sell
Probation & Performance Management• Set the tone early – use probation• Clarity, vision, expectations,
deliverables, development
Reward & Recognition• Recognise early & often• Don’t underestimate the small
things
Learning & Development• Support development but bring
it back to the business• Recognise with flexibility
Succession Planning• Develop your replacement• Give them the opportunity
OPPORTUNITY # 2: PRIORITISING LEADERSHIP AND
MANAGEMENT DEVELOPMENT
The secret of effective leadership is to create more leaders • This means giving the people in your organisation the opportunity to develop, grow, learn and
make mistakes while on the job.
The CIPD 2014 Employee Outlook report identifies that line managers are far more positive about their own behaviours than the employees about their managers.
• A blind spot? • A consequence of often poor or inconsistent investment in leadership and management
development?
What is often forgot is that once people are hired, the majority of the responsibility for talent retention shifts to the manager.
What employees want:• Trust in the leadership team (98%)• Confidence in your manager (99%)
OPPORTUNITY # 3: RETENTION - RECOGNISING POTENTIAL
Moving beyond looking at past performance and focusing on an individual’s potential to deliver.
In a 2014 Harvard Business Review article a leading expert outlined five indicators of potential:
• Motivation: A fierce commitment to excel in the pursuit of unselfish goals• Curiosity: A penchant for seeking out new experiences, knowledge, and candid feedback and an
openness to learning and change• Insight: The ability to gather and make sense of information that suggests new possibilities• Engagement: A knack for using emotion and logic to communicate a persuasive vision and
connect with people• Determination: The wherewithal to fight for difficult goals despite challenges to bounce back from
adversity
Fernández- Aráoz C., 2014, 21st Century Talent Spotting,
Harvard Business Review
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RETENTION: CONSIDER THE LOSS
Many employees, even top performers, do not contemplate career planning or moving roles until they are dissatisfied with their current job situation.
That dissatisfaction can lead to resignations if the employee has had no access to information about ongoing career paths within the organisation.
It is very difficult for an employee to come back from being dissatisfied. • Counter offers work in the short term• They were dissatisfied – it is unlikely that anything changed by way of the counter offer – it’s too
late.
Contemplate the loss of a number of top performers in your business - RISK:
R – Reality: How likely are they to leave? I – Impact: What would the impact be?S – Succession: How easily can they be replaced (internally or externally)?K - Knowledge: How accessible is the knowledge that they have?
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INTERESTING LESSONS
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CONTACT
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Dublin 2, IrelandTel: +353 (01) 4494400Email: [email protected]
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Galway, IrelandTel: +353 (091) 570100 Email: [email protected]