workshop on the adaption of a strategic human resource plan for the tourism industry
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Workshop on the adaption of a Strategic Human Resource Plan for the Tourism Industry. 12 Sep 2011. On the Job Training Efforts – Training Investment for the Competition? by Ahmed Asbaab. Agenda - Talent War !. The Needs ? Finding Talent Keeping Talent. WHO NEEDS TALENT?. - PowerPoint PPT PresentationTRANSCRIPT
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Workshop on the adaption of a Strategic Human Resource Plan for the Tourism Industry12 Sep 2011
On the Job Training Efforts – Training Investment for the
Competition?by
Ahmed Asbaab
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Agenda - Talent War!
•The Needs ?
•Finding Talent
•Keeping Talent
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WHO NEEDS TALENT?
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64 General Managers
296Directors
888Department Managers
37,000+Entry level
Talent Pipeline
Asia Pacific Talent Pipeline – HWW
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So we have a problem!
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Finding Talent
• Is there enough ‘local’ talent to feed your talent pipeline?
•So what should we be doing to attract and train the talent?
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Keeping Talent – some Facts!
• Employees who feel neutral about or dissatisfied with their jobs are more than twice as likely to leave the organization.
• Turnover rates will continue to increase
• Costs or replacing an employee ranges form 29% – 46% of the annual salary!
Source: DDI – Development Dimensions International – extract from report based on 745 responses to retention survey submitted to 118 Organization
QS
Front Line Staff
$ 300 x 12 = $ 3,600
$ 3,600 x 30% = $ 1,080
$ 1,080 x 20 = $ 21,600
= MRF 333,072
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Retention as a Business Priority
When retention is ABOVE AVERAGE
Customer Satisfaction
Productivity
Profitability
Will also tend to be ABOVE AVERAGE
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Why do you think employees Jump Ship or Stay?
From a HR perspective… Top 5
• Opportunity for growth and advancement
• Quality of compensation package
• Amount of job stress
• Quality of relationship with supervisor or manager
• Ability to balance work and home life
Source: DDI – Development Dimensions International – extract from report based on 745 responses to retention survey submitted to 118 Organization
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Why do employees Jump Ship or Stay?
From a Employee perspective… Top 5
• Quality of relationship with supervisor or manager.
• Ability to balance work and home life
• Amount of meaningful work – the feeling of making a difference
• Level of cooperation with coworkers
• Level of trust in the workplace
19th
20th
21st
Source: DDI – Development Dimensions International – extract from report based on 745 responses to retention survey submitted to 118 Organization
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Tactics for Improving Retention
• Conducting internal studies – surveys, focus groups to better understand why employees leave/stay
• Improving selection practices
• Conducting entry/exit interviews
• Improving communication between Management/Employees
• Training & Development opportunities
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Key Drivers
Need to recognize the most important key drivers as to
• WHY EMPLOYEES STAY
• WHY EMPLOYEES LEAVE!
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Thank you!