retaining top performers during change
DESCRIPTION
TRANSCRIPT
![Page 1: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/1.jpg)
Retaining Top Performers During Change
Aditya DixitMHRM 2010-2012IIT Kharagpur
![Page 2: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/2.jpg)
The Times They Are a-Changin‘
•“Everything changes but change.” Israel Zangwill
• ‘It takes a lot of courage to release the familiar and seemingly secure, to embrace the new. But there is no real security in what is no longer meaningful. There is more security in the adventurous and exciting, for in movement there is life, and in change there is power’
![Page 3: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/3.jpg)
Know your star player
![Page 4: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/4.jpg)
The challenges faced
•Different people react differently to change, some are wary of it and try to fight it, while others embrace it.
•Star performers are smart, savvy, aggressive, hard-working, and innovative.
•They have more options than your other employees and are more likely to leave.
![Page 5: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/5.jpg)
Different strokes for different folks
•You have to give them reason to stay.•Since they have proved themselves in old
system, they stand to lost the most out of change.
•Help them find an equally rewarding place within the new order.
•Sell the change to them, it’s necessity, effect and details.
![Page 6: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/6.jpg)
The six commandments
1. Provide clear information2. Make your stars part of the planning3. Present a united front4. Approach resisters5. Pay attention to personal concerns6. Pretest details of the change
![Page 7: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/7.jpg)
1.Provide clear information
•If you don’t tell people what is going on, they will make it up, often imagining the worst.
•Communicating the change is different from selling it.
•You must make a compelling business case for the change.
![Page 8: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/8.jpg)
1.Provide clear information(cont..)
•They need to feel both valued and in control.
•Talk to your star players before everyone else. This will demonstrate that you value them more and gives them an immediate role in the new effort.
![Page 9: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/9.jpg)
2. Make your stars part of the planning•They crave for the involvement from the
beginning and love it when they are given the control of things.
•Involve them in the change process ab-initio: right from the planning stage to execution stage.
![Page 10: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/10.jpg)
2. Make your stars part of the planning•This involvement will make them feel
truly valued•This will also help you exploit their full
potential.•And above all, their fear of change is
gone. So they are more likely to stay.
![Page 11: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/11.jpg)
3. Present a united front
•The leadership team has to sell the future to the stars.
•For that, the leaders have to be united.•Since the star performers are the
brightest, they can sense trouble from a distance.
•Any inconsistency in the messages coming to them makes them imagine things.
![Page 12: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/12.jpg)
3. Present a united front(contd..)•The message should be uniform and
consistent. •Before the message is passed on to them,
the leaders have to know about the bullet points, the exceptions and concerns that are anticipated, along with the solution to them.
![Page 13: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/13.jpg)
4. Approach resisters
•Not everybody will buy the change.•Star performers know about their
stardom in the old system and that they may lose the most from change.
•So they are more likely to resist the change.
•Instead of pushing aside the resistors, try talking to them.
![Page 14: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/14.jpg)
4. Approach resisters(cont..)
•The resisters may see something that you don’t.
•It’s not the change they object to but rather a possible result of it that affects them personally.
•If they continue to resist, try to figure out what is underlying their objection.
![Page 15: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/15.jpg)
5. Pay attention to personal concerns
•People want to know how the change will effect them personally.
•“You have to show that the organization is paying attention to their career paths and has a structure in place to handle these purposefully.”
•Different people have different expectation. •A competitive player wants another challenge
while your star researcher will want assurances that his work won’t be disrupted.
![Page 16: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/16.jpg)
5. Pay attention to personal concerns
•Helping your stars identify their desired places in the new order is important for their long term retention
•For that you must understand what drives your top performers as individuals and actively collaborate in planning their role following the change.
![Page 17: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/17.jpg)
6. Pretest details of the change
•After knowing the broad outline of their new roles, they will want to know how the change will affect their day-to-day activities.
•They want assurance that the change won’t transform work they enjoy into a daily grind.
•Try to simulate the new order to know how it effects them and whether some changes are required.
![Page 18: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/18.jpg)
References
•Harvard Business Review•Wikipedia•Knowledge@Wharton•Google
![Page 19: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/19.jpg)
Thank you!!!
![Page 20: Retaining top performers during change](https://reader036.vdocument.in/reader036/viewer/2022082804/545d1c1eaf7959be0e8b4ade/html5/thumbnails/20.jpg)
Q and A?