All About Succession Planning in Libraries Panel Discussion sponsored by

Retention Strategies Debbie Schachter June 15, 2009 SLA 2009 Washington, D.C.

What is Retention? HR strategy Retention vs. talent management

HR strategy

Retention vs. talent management

Why Should We Care About Retention? Financial implications Competitive advantage Long term impact on succession planning “ Human Capital is the Last Major Source of Competitive Advantage” Managing Talent Retention: An ROI Approach

Financial implications

Competitive advantage

Long term impact on succession planning

Why Should We Care About Retention? HR as risk factor (E&Y survey*) reports: HR issues in top 3 business risks most likely to occur HR risk difficult to manage Talent management & succession planning focus over next 3-5 years * 2008 Global human resources (HR) risk: from the danger zone to the value zone

HR as risk factor (E&Y survey*) reports:

HR issues in top 3 business risks most likely to occur

HR risk difficult to manage

Talent management & succession planning focus over next 3-5 years

Why Should We Care About Retention? Top 5 HR risk areas (Ernst & Young) Talent management & succession planning Ethics & tone at the top Regulatory compliance Pay & performance alignment Employee training & development

Top 5 HR risk areas (Ernst & Young)

Talent management & succession planning

Ethics & tone at the top

Regulatory compliance

Pay & performance alignment

Employee training & development

Why Should We Care About Retention? Impact of Departures: Cost of turnover Organizational reputation Loss of expertise Loss of productivity Quality of service/service disruptions Workplace culture & network disruptions

Impact of Departures:

Cost of turnover

Organizational reputation

Loss of expertise

Loss of productivity

Quality of service/service disruptions

Workplace culture & network disruptions

What Do Employees Want ? Motivating factors for job satisfaction Generational differences Economic realities Role of leadership Role of organizational culture Work/life balance

Motivating factors for job satisfaction

Generational differences

Economic realities

Role of leadership

Role of organizational culture

Work/life balance

Today’s Economic Challenges Lack of money Layoffs Turnover rates after layoffs Retaining employee engagement

Lack of money

Layoffs

Turnover rates after layoffs

Retaining employee engagement

Role of Retention in Succession Planning Retention creates the right environment… Talent management actively… Identifies stars Identifies potential roles for stars Develops career paths Focuses on continuity

Retention creates the right environment…

Talent management actively…

Identifies stars

Identifies potential roles for stars

Develops career paths

Focuses on continuity

Retention Strategies in Response to Economic Challenges Communicate (including surveys) Involve staff in problem solving Effective performance management Non-monetary benefits Identify “stars” for future promotion/reward

Communicate (including surveys)

Involve staff in problem solving

Effective performance management

Non-monetary benefits

Identify “stars” for future promotion/reward

Examples of Retention Activities Build on organizational strengths (survey) Create improved “induction” processes Focus on what is meaningful to workers at various career stages

Build on organizational strengths (survey)

Create improved “induction” processes

Focus on what is meaningful to workers at various career stages

Expectations of Younger Workers Ethics Volunteer programs/ opportunities Connection to organization’s mission & culture New opportunities

Ethics

Volunteer programs/ opportunities

Connection to organization’s mission & culture

New opportunities

Induction Induction processes… Improve retention Help develop connections with organization’s mission and culture Methods: One-on-one training Tours Mentoring/coaching Personal development plans

Induction processes…

Improve retention

Help develop connections with organization’s mission and culture

Methods:

One-on-one training

Tours

Mentoring/coaching

Personal development plans

What Info Professionals Can Do We can’t always influence personnel policies/practices Focus on what we can do at the info centre level for our staff Advocate or develop quality induction processes Create individual career plans

We can’t always influence personnel policies/practices

Focus on what we can do at the info centre level for our staff

Advocate or develop quality induction processes

Create individual career plans

Thank You Debbie Schachter Director, Technology & Collection Management Vancouver Public Library [email_address]

Debbie Schachter

Director, Technology & Collection Management

Vancouver Public Library

[email_address]