Link Your Strategies For Retention and Growth!

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ERE Webinar from 7/22/2010, presented by Ron Katz.

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Link Your Strategies For Retention and Growth!

  1. 1. Link Your Strategies for Retention and Growth! Performance Management, Data Management and Succession Planning
  2. 2. Agenda   Clearly defined objectives, the key to effective performance management   The intersection of tactical and strategic skills   Succession planning as a comprehensive, ongoing activity   Bridging generational issues in the workplace   Following-up 2
  3. 3. Performance Management A system of inter-related activities that:   Involves the employee   Is primarily carried out by the supervisor and higher-level management   Is supported by Human Resources   Has the goal of improving employee performance, productivity, motivation, and morale 3
  4. 4. How Integrated is Your Performance Management? 1.  Managers create objectives with their employees that are aligned with organizational objectives and meet frequently throughout the year to discuss and review them. 2.  Managers create objectives for their employees and have a mid- and end-of-year review. 3.  Managers assign objectives to their employees and give an end-of-year appraisal. 4.  Organizational objectives aren’t always clearly communicated so it’s hard for managers to set objectives and give feedback. 5.  Who’s got time for all these meetings? Just get the work done! 4
  5. 5. Measuring Performance Clearly defined objectives are:   Outputs, not activities   Measurable • Volume • Timeliness • Quality • Efficiency • Cost   Controllable   Achievable 5
  6. 6. Creating Collaborative Objectives In order to get employee buy-in to accomplishing goals:   Share higher-level objectives with employee   Have employee develop initial set of objectives that support higher-level objectives   Review employee's objectives and negotiate final objective to mutual satisfaction   Agree on what will constitute satisfactory performance for these objectives   Include developmental goals for the employee 6
  7. 7. Identifying Competencies To Develop Strategic •  Focuses on long-term competencies Tactical •  Focuses on more immediate results
  8. 8. Why Manage Performance?   To accomplish goals   To improve performance   To motivate staff   To identify and address performance gaps   To develop staff   To prepare the next generation of managers 8
  9. 9. What’s Needed to Link Performance and Succession? To effective manage performance and succession you need the proper support   Performance management system   HRIS with PM module   Support of senior leadership   Succession management process • Assignments • Rotations • Mentors 9
  10. 10. How Integrated is Your Succession Management? 1.  Succession management is an ongoing developmental activity involving managers at multiple levels and addressing all levels of management. 2.  Succession management is an activity done annually by senior managers to identify potential future leaders. 3.  Succession management is done on an ad hoc basis in the event a senior manager leaves. 4.  We have a succession plan for contingencies but it is not updated regularly. 5.  We do not have an up-to-date succession plan, our CEO and senior leaders aren’t going anywhere soon. 10
  11. 11. Key Elements of Succession Management   A process for identifying high-potential performers   Identify high-potential performers   Assess the readiness of high-potential performers   Identify future in-demand skills   Employee development   Succession planning & management   Create a transition process   Alignment with the organization’s goals & practices   Fresh strategic input and insights
  12. 12. Internal Sources Retention is the most cost effective form of recruiting!   Internal Assessment Programs   Performance Appraisals   Job Posting System   Employee Referrals
  13. 13. Succession Plans That Work*   Receive visible support from Senior Leadership   Are owned by line management and supported by staff   Are simple and tailored to unique organizational needs   Are flexible and linked with strategic long-range plans   Evolve from a thorough human resources review process
  14. 14. Succession Plans That Work*   Are based upon well-developed competencies and the objective assessment of candidates   Incorporate employee input   Are part of a broader management development effort   Include plans for developmental job assignments   Are integrated with other human resources systems   Emphasize accountability and follow-up * “Succession Planning,” Lorrina J. Eastman, Center for Creative Leadership, Greensboro, NC
  15. 15. Succession Management and the Emerging Workforce   Millennials would rather discover than be told   Shorter attention spans   No more “dues paying”   They expect it all and they expect it now   They are the chosen generation   Twitter mentality   Little sense of history 15
  16. 16. They expect to be – and will need to be – managed differently.
  17. 17. The Seven “C’s” • Collaboration is essential • Coaching works better than commanding • Communication is the key • Competency and capability rule • Compromise wins • Conflict is to be expected • Commitment counts 17
  18. 18. Performance Management and Succession Planning Performance management and succession planning are, and must be, complementary activities, not events.
  19. 19. Thank You! Ronald M. Katz, SPHR Penguin Human Resource Consulting LLC www.PenguinHR.com Ron@PenguinHR.com

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