Identifying & retaining talents in workplace

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Identifying & retaining talents in workplace

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Identifying & retaining talents in workplace

  1. 1. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Valli.A Altacit Global Identifying & Retaining Talents in Workplace
  2. 2. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com How to identify talents in workplace Pushing talent through the pipeline enhances the quality of leadership in the business, it is also an opportunity to recognize leaderships qualities in individuals. Improving workplace productivity requires the implementation of career development plans for each employee, with reviews at set intervals to ensure the goals set in place are achieved. The training needs should also be identified and can be categorised into three areas: • Organization • Task or job • Individual or career
  3. 3. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Contd.. By considering the skills that are required for both today and tomorrow, for both the individual and the organisation, there is a shared commitment put in place between the employee and employer which serves the interest of improving workplace productivity. Identifying and Retaining Talent take place 1. When someone offered a new job (or) 2. When an annual performance review is approach No matter what it is that employees want, it’s critical that your employer does what they can to satisfy their needs. If they can give perks they want, they will be happier, more productive and more efficient.
  4. 4. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com What will be a great deal to an individual employee • Vacation days, • Telecommuting, • Gym memberships, • Dry cleaning costs, • Child care, • Transportation expenses, • Education expense reimbursements, • Parking spots, • Projects, • Staff and flexi time.
  5. 5. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com If you were planning to quit your job, what would it take to persuade you to stay? Better benefits? A bigger paycheck? More flexibility? • According to CareerBuilder, 39% of employers are concerned that they’ll lose top talent in 2013. While 66% of workers stated that they are generally satisfied at work, one in four (25%) said they plan to change jobs this year or next. • But it turns out employers may be able to retain those valuable workers by offering them what they want most. • CareerBuilder conducted a survey among 2,611 hiring managers and human resource professionals and 3,991 workers nationwide to find what employees value in the workplace, and what ultimately entices them to stay with their employers.
  6. 6. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Contn… The majority of workers (70%) reported that increasing salaries is the best way to boost employee retention, while 58% pointed to better benefits. More than half (51%) said a more flexible schedule might persuade them to stay, and 50% said an increase in employee recognition (awards, cash prizes, company trips) would do the trick. In a separate question about benefits, 26% of workers said that providing special perks is an effective way to improve employee retention. When asked to identify perks that would make their workplace more enjoyable, 40% said half- day Fridays, 20% mentioned an on-site fitness center, and 18% liked the idea of wearing jeans to work. Others listed things like daily catered lunches, nap rooms, massages, snack carts, and on-site daycare.
  7. 7. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com List of characteristics that signal a “superstar.” • Self-starter – Regularly demonstrating initiative, self-starters continually take on new challenges and responsibilities — pushing themselves and those around them to step outside of their written job descriptions and think outside the box. In addition, they don’t shy away from making the tough call in order to achieve what is right for the customer and their company. • Demonstrates a high propensity for learning – High potential employees are always improving and enhancing their craft. Not only do they learn from their mistakes, they seek feedback from others and continually embrace new ideas and creative ways of thinking. • Sets a strategic mindset – Star performers rarely focus the majority of their attention on short-term strategies. Instead, they keep an eye out for trends or voids in the marketplace and turn them into opportunities for their company’s long-term success.
  8. 8. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Contn.. • Maintains a clear line of sight – Superstar employees have no trouble rising above an avalanche of activities, meetings and work emergencies to keep a clear focus and discipline on what really matters. • Well-liked and genuine – High potential employees are energetic, genuine and well-liked individuals. They know how to foster teamwork, inspire those around them and ensure that other employees know that their contributions matter to the company. • An influential communicator – Perhaps the most important characteristic of a leader is their ability to speak in a way that inspires and captures the energy and imagination of others. A star performer helps others see the positives that can be achieved in the workplace and directs employees toward a personal and professional path of success.
  9. 9. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Retention tools 1. Motivation What it is that motivates this group of employees? It can be different for many; some it could be compensation where others it may be learning opportunities, challenging work or the ability to advance within the organization. If retaining these employees is important to the organization than it is critical that you find out what motivates them and build a plan accordingly. 2. Training and development As mentioned previously, training and development budgets were one of the first causalities during the economic downturn. Now as the global economy turns around and aggressive growth strategies are developed it is more important than ever to ensure you have the right training and development programs in place to retain & develop your already existing key talent.
  10. 10. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Contn… 3. Opportunities: Unfortunately you may have lost some of your talent through natural attrition. Therefore, you need to determine where those gaps are within your organization and either attract externally or use this as the prime opportunity to develop one of your identified high potential employees and groom them accordingly. There is no better way to retain a key employee than to provide them with a career development opportunity, provided the right tools are put in place to help make the employee successful. 4. Compensation : You need to review and ramp up your total compensation programs. The market place will only become more competitive and many of your key talent may be feeling a little disillusioned with the lack of merit increases, possible cut backs in base salaries and/or lack of bonuses over the last couple of years, therefore may be shopping the market for some new opportunities.
  11. 11. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Contn.. Again, this is a critical time to ensure you have benchmarked your total compensation plans ensuring you are truly competitive 5. Engagement • Lastly, are you involving your key talent in the strategy and development initiatives of the company? Are you making them feel like they are part of the big picture and a key contributor? If not, involve them with your strategy sessions or key projects, stretch them, hold them accountable – CHALLENGE THEM! Many times this is all they are looking for, an opportunity to learn and become more valuable to the organization. It is a WIN-WIN formula.
  12. 12. CHENNAI 3rd Floor, ‘Creative Enclave’, 148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE BB1, Park Avenue, # 48, Race Course Road, Coimbatore - 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com Thank you

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