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Hire Minds Assess Presentation _Employee retention
 

Hire Minds Assess Presentation _Employee retention

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  • Copyright © 2008 Assess Systems

Hire Minds Assess Presentation _Employee retention Hire Minds Assess Presentation _Employee retention Presentation Transcript

  • Retaining and Engaging Talent a Competitive Difference No Matter What the Economic Climate Hire Minds Summit 2010 JoAnn McMillan, Ph.D.
  • Who We Are
    • Innovative software and I/O psychology consulting firm
    • Focus on Talent Selection & People Development
    • Off-the-shelf and fully customized assessment solutions
    • Clients across industries, from start-ups to Fortune 500
    • SnagAJob assessment partner
  • Some Sobering Statistics
    • Bureau of Labor Statistics
      • National unemployment rate is 9.5%
    • Job Openings and Labor Turnover Report – June 2010
      • The job openings rate was 2.2 percent.
      • Employers made 3.8 million hires in June—about a third less than in July 2006.
      • The quit rate—a sign of workers' "willingness or ability to change jobs"—remained very low at 1.4 percent.
  • Some Glimmers of Hope on the Horizon
    • In H1 2010 Hires did Exceed Separations
  • Impact of Slow Churn on HR
    • With few openings you need to make every new hire count
      • Poor hires hurt your business results
      • Good hires outperform even in tough times
      • Turnover is costly no matter what the economic climate
    • Just because they are staying doesn’t mean they haven’t mentally “quit”
      • What is the difference in productivity of your most engaged employee compared with your least engaged employee?
      • How many of your current employees have “quit and stayed?”
  • The Value of A Good Hire
    • Putting the right person in the right job makes business sense
      • Higher performance
        • From start
        • Continues over time
      • Shorter ramp-up time
      • Easier to manage
      • Increased customer satisfaction
      • More likely to stay
    “ Your hiring process should not only focus on avoiding bad hires but seeking those true top performers”
  • The What, How & Why of Talent
    • What are the desired outcomes for this role?
      • Customer
      • Process
      • Productivity/Financial
      • People
    • How do your best people achieve these results?
      • Define the behaviors and competencies that lead to success in your environment
    • Why are some people more successful than others?
      • Possess the right combination of innate and learned capabilities for the role
  • Retail ROI: Better Business Results
    • Managers who are the best fit for the role create positive business results:
    • Team Leadership
    • Good Judgment
    • Persuasiveness
    • Positive Sales Attitude
    • Energy
    • Organization /Attention to Detail
    • Frustration Tolerance
    Store Managers Store Performance: Percent Store Goal Achieved
  • Retail ROI: Improved Sales Business Impact Continues Over Time
    • Month after month, retail sales associates who had the right talent ( shown in green ) outperformed those who lacked the “right stuff” ( shown in red )
    • Positive Sales Attitude
    • Persuasiveness
    • Energy
    • Initiative
    • Good Judgment
    • Frustration Tolerance
  • C-store ROI: Better Customer Experience
    • C-store associates with service personalities create more positive customer experiences
    • Energy
    • Frustration Tolerance
    • Accommodation to Others
    • Acceptance of Diversity
    • Positive Service Attitude
    • Self Control
    **All cut levels were statistically significant at p.<01 Customer Service Employees Performance Ratings
  • Hospitality ROI – Increase Quality of Hire Assessment identified 80% of Poor performers as “Avoid” and 73% of Star performers as “Best” Poor Hires Star Hires
  • C-Store Retention – Decreased Turnover Those that fit the role stay longer
      • In a five year study (pre-recession) of c-store associates, new hires (who fit the job better) stayed longer
      • Selection process evaluated both natural fit with the role and willingness to do common job tasks
        • Make change & handle money
        • Serve food
        • Stock merchandise
        • Mop & sweep inside
        • Pick up trash outside
        • Clean the restroom
  • Best Practices In Selection
    • Each voice in the selection process should evaluate the candidate’s “fit” with the job.
    Hiring Decision Dynamic Interview Application & Pre-Screen Recruitment Message Assessment
  • But The Work Doesn’t Stop When The Hiring Decision Is Made That’s when the real work begins On-boarding and Engagement Hiring Decision Dynamic Interview Application & Pre-Screen Recruitment Message Assessment
  • On-boarding Three Strikes and They are Out (of There)
    • Job Orientation – Be prepared. Clearly state expectations about the job, and provide the “tools” needed to succeed.
    • Follow Through on Commitments – Ensure that you “walk the talk” and do what you say you are going to do .
    • Socialization – Help new employees get to know other people and the company.
  • Questions to Ask New Employees*
      • How well do we compare to what we said we would be like?
      • Tell me what you like. What is going well?
      • What employees have been helpful to you in your first 30 days?
      • I noticed you came to us from ____. Are there things you did there that might be helpful to us?
      • (Is there anyone you know who might be a valuable addition to our team?”
    *From “The Honeymoon Quiz: Five Questions to Ask New Hires in the First 90 days.” 2010 The Studer Group
  • Poll – Employee Engagement
    • What percentage of your employees, new and tenured, do you feel are giving 100% of their talent, passion and commitment to the job?
  • Attitudes About Engagement
    • Do you view the employee as an expense or the employee as an asset?
    From Franklin Covey: “Leadership in the 21 st Century”
  • Covey’s Levels of Engagement Today’s Worker has the “Power to Choose” From Franklin Covey: “Leadership in the 21st Century”
  • Zenger-Folkman’s Sweet Spot Organizational Needs: The activities you need the person to do that support the organization’s success Competence: What the person does well Passion: W hat the person likes to do Competence Organizational Needs Passion From “The Extraordinary Leader: Turning Good Managers Into Great Leaders” by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies
  • The Employee Sweet Spot
    • The motivational “sweet spot” is achieved when you can help an individual to align their passion and their competence with the requirements of the job.
    From “The Extraordinary Leader: Turning Good Managers Into Great Leaders” by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies Convergence
  • Finding Their Sweet Spot: Organizational Needs
    • Understanding of how personal job role
    • helps fulfill company mission, vision
    • and business objectives
    • Orientation or tour of the overall operation
    • (not just their piece)
    • Clear expectations regarding the job - what
    • “ good” looks like
    • If they have a back room role have them
    • job shadow a customer interaction
  • Finding Their Sweet Spot: Competence
    • Increasing job autonomy
    • New projects and responsibilities; on-the-job learning opportunities
    • Providing the proper tools to effectively do their jobs
    • Involvement in decision making and access to sharing ideas with management (e.g. Joint Leadership Teams)
    • Supervisor and team support for job success (acknowledge achievements)
    • Shadowing and mentoring opportunities
    • Educational assistance and other training support
  • Finding Their Sweet Spot: Passion
    • Appreciation and support for outside
    • talents
    • Or, bring their talent into the
    • workplace
    • Flexible work approaches to support
    • outside needs
    • Volunteer opportunities through the
    • organization
  • Additional Thoughts for Engaging the Hourly Workforce
    • A work-life culture that is more supportive of personal and family life
    • GovBenefits.gov – extensive resources for citizens to locate public-sector benefits
    • Reduce barriers between corporate and the field
    • Make the workplace “fun”
    • Career navigation and job search skills assistance
  • The Engaged Employee From “The Extraordinary Leader: Turning Good Managers Into Great Leaders” by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies
  • Achieving Success Through Others
    • Great Companies ….
    • Attract and Select Top Talent
    • On-board effectively
    • Engage employees through flexibility, empowerment, respect and appreciation