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Creating Value through Employee Development

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Erin Daruszka, Director, Human Capital Consulting, TriNet …

Erin Daruszka, Director, Human Capital Consulting, TriNet
Join the HR experts to learn about the latest hiring statistics and trends, how top organizations find top talent, how to drive employee productivity and motivation to meet organizational goals, and what it will take to retain the best talent.

Published in: Business, Technology

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  • 1. Creating Value Through Employee Development The Executive's Roadmap to Best-in-Class HR Strategy © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited.
  • 2. Creating Value Through Employee Development Agenda •  Why Employee Development Matters •  Integrating Development with Performance Management •  How to Create and Deploy an Employee Development Strategy •  Q&A Session 2 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 3. Why Employee Development Matters 3 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 4. Engagement Defined Employee engagement is commitment to job, manager, team, and organization, which drives effort and intent to stay, resulting in improved performance and retention. Source: Corporate Leadership Council 2004 Employee Engagement research: HR Executive Forum research 4 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 5. What is Your Talent Inventory? 45-50% of high performers are actively looking for new jobs. 60% of employees are NOT engaged. Survey by Blessing White, a global consulting firm, found: •  Just over half of employees (59%) believe they have good career opportunities with their current employer. •  39% expect their next career move will be with another employer. •  40% say they plan to change jobs within the next year. 5 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 6. Top Contributors to Employee Job Satisfaction in 2012 The Society for Human Resource Management (SHRM) Employee Job Satisfaction and Engagement survey top three contributors to job satisfaction: 2012 Opportunities to Use Skills and Abilities Job Security 61% (2) Compensation 60% (3) Communication Between Employees and Senior Management 57% (4) Relationship with Immediate Supervisor 6 63% (1) 54% (5) © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 7. High Potentials Value More than Money What Drives High Potentials? 1.  Job Fulfillment/Challenge 2.  Total Compensation 3.  Genuine Opportunities for Advancement 4.  Good Work/Life Balance, and Employee Efforts Linked to Business Results (tie) 5.  Integrity Source: Hewitt Associates 7 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 8. Development Plays a Key Role •  Career development is a critical driver of employee attraction and retention. Drivers of Engagement Drivers of Retention Leadership Career Development Image Leadership Career Development Pay & Rewards Empowerment Empowerment Goals & Objectives Supervision •  However, employees perceive that they need to “move on to move up.”     42% of employees believe they must leave their organizations in order to advance 58% also indicate that a new employer could influence their decision to leave their current organization, if career advancement were offered in the new opportunity Source: Towers Watson 2010 Global Talent Management and Rewards Survey 8 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 9. Taking an Integrated Approach to Reward and Talent Management Towers Watson Global Strategic Rewards Report found organizations that take an integrated approach to reward and talent management are: •  25% less likely to experience problems attracting top-performing employees •  20% less likely to experience problems attracting critical-skill employees •  18% less likely to report having trouble retaining top-performing employees •  33% less likely to report having trouble retaining critical-skill employees •  18% more likely to be high performing organizations 9 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 10. Engagement is the Goal In Review… 10 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 11. Integrating Development with Performance Management 11 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 12. Your Most Valuable Assets The Fight for Talent •  65% of employees are actively seeking new employment. •  35% of employees expect to stay with their current employer. Source: Deloitte, Human Capital Trends 2011 12 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 13. Most Pressing Talent Concerns of Today’s Organizations 41% •  Competing for Talent Globally and in Emerging Markets 38% •  Developing Leaders and Succession Planning 37% 35% 13 •  Retaining Employees at All Levels •  Managing and Delivering Training Programs © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 14. Develop an Integrated Strategy for Learning and Performance Management •  Integrated strategy is not learning for learning’s sake. •  Integrated strategy ties development opportunities to organizational needs and desired business outcomes. •  Failure to integrate learning and performance management leads to: •  Poorly trained employees who can not achieve their goals •  Failure of organization to achieve its strategic goals •  Turnover at all levels due to frustration and inability to achieve goals 14 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 15. Impact of Integrating Development with Performance Management Organizations that have linked employee development with strategic business objectives generally experience: •  Better workforce alignment to overall strategy •  Improved ability to quickly respond to changing organization needs •  Higher revenue per employee •  Better internal talent mobility •  Improved workforce productivity Source: SumTotal 15 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 16. Drive Productivity Through Employee Development Strategic Business Planning Computer Productivity Skills Client Interaction and Solution Selling IT Management Skills and Certification Operations Design and Management Project and Product Management Marketing Strategy, Branding, and Channels Finance and Accounting 16 Professional Development Business Writing © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 17. How to Create and Deploy an Employee Development Strategy 17 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 18. Drive Productivity Through Employee Engagement Engaged Employee Innovation Customer Loyalty Growth 18 Improved Performance Higher Discretionary Effort © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 19. Employee Development Integration •  Align programs with what you stand for: Objectives Organizations that report their Talent Management programs support their: Are twice as likely to be a high performing company Desired Culture 19 Attraction and Retention Goals Are less likely to have trouble attracting critical-skill employees or retaining high performers Are more than twice as likely to have a high performance work culture © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 20. Strategize on Employee Development Data reveals that “world-class” teams are setting a different talent agenda than their counterparts at other organizations. •  Have a plan •  Align organization and talent goals •  Set clear metrics •  Respond to generational issues •  Focus on a diverse workforce 20 •  Search for critical skills •  Emphasize training •  Deliver on the employee value proposition •  Create high-quality employee communications •  Develop future leaders © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 21. Where Do You Start? Rethink Employee Development •  Careers are not one-size-fits-all. •  Today’s economy demands job enrichment . •  Diverse job experiences build an employee’s competencies. For Employees For the small percentage who are on an aggressive career path, it may mean: It means generating an ROI on the investment in employee development, through: Diagonal movement across units and regions, to round out experience, develop skills, and demonstrate aptitude in different contexts Career paths that fill a talent pipeline, to meet business demands For the greater majority of employees, it may mean: Engaged employees meeting career aspirations Lateral moves focused on skill building and continuous growth 21 For Your Organization Enhanced Value Proposition that attracts and retains the best talent © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 22. Employee Development is a Key Element and Competitive Advantage in Your Total Rewards Strategy •  Total Rewards are the unique combination of factors that your organization uses to attract, motivate and retain employees. •  There are five elements of Total Rewards:   Compensation   Benefits   Work/Life Balance   Performance and Recognition   Development and Career Opportunities •  Small organizations have a unique competitive advantage. 22 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 23. The Value of Investing in Employees •  There is no greater investment than the investment we make in our people. •  Training and developing our people is essential for an organization’s success:   Increases employee engagement   Improves productivity and organizational success   Ensures competitive edge in the market   Creates opportunities for career development and personal growth   Minimizes liability   Increases employee morale   Opportunity to show your commitment to employee’s success 23 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 24. Employee Development Strategy Questions to Consider •  Who is eligible for a “career”? •  How will the organization fulfill staffing requirements? •  How do we hold people accountable for development? •  How do we define advancement? •  What types of skill sets will be critical? •  How does the organization bring career advancement to life? 24 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 25. Focus on the Right Rewards 25% of Leadership Focus should be on: 75% of Leadership Focus should be on: •  Compensation •  Learning and Development •  •  •  •  Base pay Short-term incentives Base pay increases Long-term incentives •  Benefits •  •  •  •  •  Retirement Health care Vacation/PTO Life insurance Long Term disability •  •  •  •  •  Work Environment •  •  •  •  •  •  25 Leadership development Mentoring/coaching Performance management Career opportunities Manager effectiveness Flexible scheduling Challenging work Communication/Collaboration Recognition Inclusion/Involvement © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 26. Agility is Key Career & Environment Rewards •  Career Opportunities •  Learning and Development •  Work Environment •  Work/Life Balance •  Flexibility •  Leadership Development •  Succession Management 26 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 27. Beyond Training: Opportunities for Incorporating Employee Development Into Your Organization Top Options for Employee Development •  It’s more than classes or training •  Get creative and stay practical •  Stretch assignments •  Shadowing •  Cross-training •  Mentoring programs •  Leverage managers Source: Towers Watson 2011 Talent management and Rewards Survey 27 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 28. Summary 1.  Increase Productivity: Empower employees with new workplace skills 2.  Guide Professional Development: Create training programs tied to employee development plans 3.  Invest in Your Workforce: Retain your best performers and position them for leadership roles 4.  Brand Your Organization From the Inside Out: Create programs that promote your organization’s message 28 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13
  • 29. Q&A Erin.Daruszka@trinet.com 29 © 2013 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. 10/9/13