What's to Come? Talent Management Post Recovery
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What's to Come? Talent Management Post Recovery

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In this Webinar Generator Group’s VP, Talent Management, Elaine Lees, will discuss how companies are approaching 2010 to manage the workforce and its related financial costs in ways that enhance ...

In this Webinar Generator Group’s VP, Talent Management, Elaine Lees, will discuss how companies are approaching 2010 to manage the workforce and its related financial costs in ways that enhance prospects for future growth.

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What's to Come? Talent Management Post Recovery What's to Come? Talent Management Post Recovery Presentation Transcript

  • What’s to Come? Talent Management Post Recovery WELCOME TO
  • Presenter
    • Elaine Lees
    • VP of Talent Management
    • Real-time Economic Forecasts
    • Phased responses to the Recession
    • New “Normal” Post Recession
    • Talent Focus areas for 2010
    This Webinar will Cover
  • Survey: Where Have You Been?
  • Survey: When Do You Expect A Rebound In The Economy?
  • What’s to Come: The Economy Recession Desirable, but unlikely More probable Less probable
  • Phase 1: Reactionary Talent Focus Areas
    • Limit Salary Increases
    • Adjust variable pay
    • Decrease recruiting
    • Limit expenses related to cars, travel, etc
    • RIF
    • Voluntary Exit Plans
    • Voluntary Salary or labor time reductions (furloughs)
    • Non voluntary Salary or labor time reductions
    • Cease external contractors/increase contractors and renegotiate fees
    • Change benefit plan design or components
    • Freeze training, educational assistance
    • Typically done quickly… without complete information about employee performance and capabilities
  • What worked yesterday won’t work for tomorrow
    • How radically have you acted already? Did that action have the desired effects? What worked, and what didn’t?
    • Challenged to balance cost effectiveness with longer term needs of the business.
  • “ New” Normal Post Recession
    • Environmental
    • Continued flux in world markets
    • More government interaction
    • Healthcare reforms
    • Higher “normal” unemployment
    • Demographic trends
    • Significantly changed employment deal
    • Shortage of specialized skill sets
    • Implications for Talent
    • Operating in uncertainty is “normal”
    • Cost and economic factors continue to dominate
    • Must balance short term with longer term talent investments or growth stunted when markets improve
  • What’s to Come for Your Business
  • What’s to Come for Your Business
  • Survey Response: Where are you? Defense------------------------------------Offense------------------------------Dominance
  • “ New” Normal: Key Talent Management Focus Areas for 2010
    • Agility
    • Segment Talent
    • Scenario Based Workforce Plans
    • Employee Engagement
    • Trust = Transparency
    • Leadership capabilities
  • Agility
    • Be ready to make real time decisions
      • Use facts rather than perceptions
      • Be prepared for contingencies
      • Design the organization or the organizational processes with flexibility in mind.
  • Segment the Workforce Value to the Organization Performance Exceptional High Average Low Mission Critical Core Necessary Non-necessary Provide development, rewards, opportunities for individual and organization At risk: coach for performance, train for core role or manage out Training for mission critical roles Divest. Seek alternative sourcing
  • Scenario Based Workforce Plans
    • Build agility and flexibility in managing workforce costs and capabilities
    • Build workforce plan with multiple contingencies
      • Hiring cycles will need to be shorter
      • Organizations will increasingly rely on narrowly-focused teams to bring products and projects to completion, rather than organizing those tasks into defined full-time roles.
      • The use of a contingent workforce figures to be a common solution, but only for organizations that are able to understand this source of talent in ways that are different from their management of regular workers.
  • Employee Engagement :The “New” Deal
    • Elements of employment deals will change
    • (competitive base stays)
    • Explore other engagement drivers to keep employee passions high and working productively
      • Significance
      • Influence
      • Belonging
      • Learning/Growth
  • Trust =Transparency
    • Rebuilding trust after the crisis is most critical.
    • Frequent, open, honest communications build trust
    • The good, the bad and the ugly news creates credibility
    • Decisions based on facts, evidence
  • Refresh Leadership Capabilities
    • Alignment and buy in.
    • All leaders need to be equipped to lead:
      • Critical thinking around complex issues
      • Decision making in spite of risk/uncertainty
      • Change-able
      • Collaborative, communicative
      • Displays personal engagement – drives others
    • 10-20-70 Rule of Training
  • Workforce Solutions You’ll See in 2010
  • Phase 2: Rocky Road Talent Activities
    • Retention
    • Talent Attraction – rebranding
    • Major moves in business unit alignments
    • Recalibrate jobs and supporting compensation strategy
    • Focus on employee satisfaction
    • Review performance management approach
    • Focus on employee efficiencies (through structural, environmental changes, processes, work flow)
    • Improve knowledge transfer (anticipation of turnover, retirements)
    • Investment in leadership- segmented toward strategy and critical skills
    • Continue effective communications
    • Key= Justification that ties to growth strategy since cost are still important
  • Phase 3: New Reality Talent Activities
    • Integrated Talent Management Strategies that are geared for growth and agility:
    • Strategic Workforce Planning: who to retain, hire, train
    • Flexible responsive staffing
    • Refined performance management, metrics and skill definitions
    • Retention strategies than integrate pay and total rewards unique to the company (not easily duplicated)
    • Pay, development and career programs tightly linked
  • Review
    • Response in 2010 depends on what phase your business is in
    • Careful spending will remain but must be balanced with future people investments
    • Welcome to the new “normal”
  • Contact us at: Generator Group [email_address] .net 503-542-4577
  • Thank You… And Best Wishes For “V Shaped” 2010