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Talent management for SMB

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Small businesses have been at a competitive disadvantage compared with larger companies when it comes to access to affordable and effective tools and resources. Thanks to improvements in HR technology …

Small businesses have been at a competitive disadvantage compared with larger companies when it comes to access to affordable and effective tools and resources. Thanks to improvements in HR technology and the resulting lower costs, as well as social media, small businesses now have access to peers as well as cost effective high functioning talent management systems.

Small business owners and HR leaders often recognize that employees are the most valuable asset but taking the first step towards identifying and executing an effective talent management strategy that can lead to engaged employees and small business success is often not top priority.
Systems and strategies are equally important when attempting to ensure results in small companies as they are in large organizations. Statics show that organizations that implement effective talent management solutions outperform like companies by in excess of 22%.

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  • Everyone knows almost everyone, you know all managers, you can go to Owners/CEO’s Office.
  • No formal budgetYou are only one in HR or limited resources most companies are 1 HR to 80-100 employees.No formal process or strategy for anything around human resources functionsNo technology or little – payroll maybe automated, nothing else.Little buy in to the value of or emphasis on people or all talk to action
  • How many of your organizations define talent management in one of these ways:
  • Imagine – your employee and/or manager being able to plot out their or their employees development plan and be able to automate and track it!
  • Reminder that development is equally important as salary!
  • Presently you have some staffing metrics that are certainly helpful, but imagine how much more knowledge you would gain buy having the following metrics! We all know it is about quality not quantity of candidates the same goes for hires.
  • Transcript

    • 1. Attracting, Engaging and Retaining Top Talent Winning the Battle Presented By: Terri Joosten
    • 2.  Benefits of Small Business Obstacles to Small Business Importance of Talent Management How To Make Changes Building a Brand Internal and External Recruiting Performance Learning/Development Succession Planning Analytics Industry Facts Conclusions Technology Decisions Solution Review
    • 3.  Companies with employee base of under 500 In some cases with less than 1000 if HR is really being under utilized or if large amounts of part-time or season help.
    • 4.  Direct Line of Sight and Reporting to CEO/Owner Limited Silos (departments with conflicting objectives) Easier Access to Entire Employee Base
    • 5.  Budget Time HR Foot Print ◦ People ◦ Process ◦ Technology Perceived HR Value
    • 6. Small businesses can benefit in a variety of significant waysfrom talent management strategies and initiatives. Forstarters, talent management can help any small business:1. Align employee activities to corporate goals;2. Improve internal communication;3. Provide recognition and feedback in real-time;4. Manage the employee performance review process;5. Give employees the ability to manage their own careers;6. Provide development and training opportunities7. Give important “people information” to managers and executives8. Build better managers9. Help attract top performers10. Retain top performers
    • 7.  What Employees are looking for in an employer
    • 8. 85% of candidates are looking for career development
    • 9.  Organizations in are attempting to brand their organizations as an “employer of choice” in order to attract and retain top talent
    • 10.  Our People are our Biggest Asset! Saying you’re great is not good enough you need to walk the talk
    • 11. People, People, People………
    • 12.  Most small companies don’t have a brand Brain Storm Session ◦ Department Heads ◦ What makes your company competitive in market ◦ What differentiates your company from competitors Competencies ◦ Core (Strengths) – Customer Service, Quality ◦ Unique – Google/Creativity
    • 13.  Once you have the competencies you need to communicate ◦ Mission Statement ◦ Tag Line – on web site (including careers), on letter head, add to logo, in sales presentations, etc. ◦ Monthly employee newsletter focus on attainments that map to corporate competency achievements from company, department and individual level ◦ Performance – Rate your staff on how they are doing against your company competencies ◦ Develop – provide opportunities for your employees to improve in these areas ◦ Suggestions – allow employees opportunities to help improve on these competencies (Suggestion Box, Reward program for savings, etc.) ◦ Walk the talk! Make sure your company is focused on these competencies “If you build it they will come”
    • 14.  How do I promote my open roles! ◦ Employee Referrals  Offer incentive - cash, movie tickets, draw prize ◦ On your career site  Have trouble getting them on your site?  Applicant Tracking System (ATS)  Often thought to be cost prohibitive  Free systems  Saas Systems from $80-$150/mth  Re-usable database  Posts directly to career site  Online management and tracking of applicants
    • 15. ◦ Aggregation Boards – indeed, simplyhired, wowjobs, careerjet  Free  Best at SEO (search engine optimization)  Increases number of applicants at no cost◦ Social Media  Linkedin  Facebook  Twitter  Craigslist, Kijiji  Use Apps like tweetdeck to automate process  Don’t believe social networks work Red Balloon  Built in posting capabilities in ATS systems, RSS feeds, or manual posting links or tinyurls
    • 16. Career PathMy Job Development Plan Skills & Competency Dream Job Measure PerformanceMotivate, Engage and Develop your FutureLeaders
    • 17.  Aligning your organization, departments and people to corporate goals and objectives Create as often as possible a direct line of sight into how each employee contributes to the organization Competencies – reinforcing and measuring ◦ Formal review process online or paper based ◦ Monthly or at least quarterly meetings with manager  Review performance – check list Goals and Development Plans (present and future roles) Automated Performance Reviews ◦ Cost effective systems for $’s/Employee/mth ◦ Real Time and year long - not what did I do last 60 days ◦ Year over year results ◦ Reduces objectivity – observable behaviours
    • 18.  Invest in your employees development ◦ Job sharing ◦ Mentoring Compliance! (Certifications, Sexual Harassment) Free content online – Web is our friend ◦ Find appropriate content and create a place with links to approved courses. Industry specific associations often have educational content and events to enable development Buy and manage books, cd’s, courses ◦ Tuition reimbursement ◦ Annual budget per employee for training Learning Management Solution ◦ Buy or develop content ◦ Employee Self Service ◦ Tie to development needs  For present role  To get to future roles
    • 19. DefinitionSuccession Planning is the process of gettingthe right people, at the right cost, at the righttime again and again, by planning for changes in the workforce. Identify Key Roles ◦ Not just C-Level  Any role that is difficult to fill (labor shortage) or when empty costs the organization not just in production but in soft costs relationships, time to gain knowledge lost Identify key skills and competencies required for key roles Take internal look for possible replacements ◦ Understand investment needed to get them ready for key roles  Too often this is never followed up on once key successor is determined be diligent on continued development ◦ If no internal resources identify external resources and track them (linkedin, facebook) know where they are and what they are doing. Schedule meetings to check your plan, ask department heads who do you have available should employee ABC leave? Things change and if your don’t review your plan it will no longer be a plan!
    • 20.  Measure! Measure! Measure! Accountability Return on Investment (ROI) Improvements – Time, Money, Employee Satisfaction! Technology makes reporting easier as built in analytics to track performance improvements Turn over, time to hire, employee satisfaction, company performance, individual performance
    • 21.  Improved Performance Improved ground-breaking 11-year study A Financial Output Happier People/Retention entitled Corporate Culture and Performance by Kotter and Better Culture which included more that 200 Heskett, and Ability to Attract and companies from 22 industries, found Retain Top Talent that instituted that companies performance-enhancing cultures, including a robust and relevant performance-management system, significantly outperformed those organizations without such a culture in all of the major financial categories.
    • 22. Here are just a few highlights from the volume of studies done globally whichshow a positive relationship or correlation between employee engagement andbusiness performance… Highly engaged employees outperform their disengaged colleagues by 20 – 28%. (The Conference Board) Engaged employees generate 40%+ more revenue than disengaged ones. (Hay Group) 84% of highly engaged employees believe they can impact the quality of their company’s work product compared with 31% of the disengaged. (Towers Perrin) 70% of engaged employees indicate they have a good understanding of how to meet customer needs, while only 17% of non-engaged employees say the same. (Right Management) 68% of the highly engaged believe they can impact costs in their job or unit versus 19% of the disengaged. (Towers Perrin) Engaged employees taken an average of nearly 60% fewer sick days per year than disengaged employees. (Gallup) Engaged employees are 87% less likely to leave the organization than the disengaged. (Corporate Leadership Council)
    • 23.  Talent Management is equally important in SMB as in Large organizations Communication is still a key to success ◦ Do it well and do it often! There are ways to manage your people cost effectively ◦ Free ◦ SaaS solutions priced for your market You have to be the advocate and cheer leader but you need C-Level buy in Align your companies mission with their people so it becomes part of your culture Monthly check lists for HR and Managers
    • 24. Point Solution = Partial Intelligence
    • 25. Attraction Development RetentionEngagement ManagementFind, Manage, Motivate and Empower
    • 26. Terri Joosten Director of Salestjoosten@hrsmart.com905-754-0200 ext 230