Retaining Your Top Performers

Retaining
Your
Top
Performers

Speaker:

Moderator:

Steve Parker, SPHR
VP HR Solutions
SumTotal Systems
Max Mihelich
Associate Editor
Workforce magazine

#WFwebinar

TOOLS YOU CAN USE
Audio Control
§ 
§ 

Adjust the volume by sliding
the indicator in the Media
Player box to the left.
Also check your computer’s

volume for external speakers
or headsets.

#WFwebinar

TOOLS YOU CAN USE
Q&A
§ 

Type in your question in
the “Q&A” box to the left.

Click on “Submit.”
§ 

These queries are visible

by the presenter ONLY.

#WFwebinar

TOOLS YOU CAN USE
Tweet
§ 

Click on “Post” in the
Twitter widget.
#WFwebinar

@workforcenews

#WFwebinar

TOOLS YOU CAN USE

Speaker Bios
Resources
Media Player
Q&A
Slides
Twitter
Help
Post Event
Survey
Share This

#WFwebinar

FREQUENTLY ASKED QUESTIONS
1. May I receive a copy of the
slides?
YES! Click on the resource list
located on the top left portion of
your screen.
2. May I review the webinar

recording at
a later date?

YES! You
may log in again using
today’s link to review the
presentation on-demand.

#WFwebinar

Retaining
Your
Top
Performers

Max Mihelich
Associate Editor
Workforce magazine

#WFwebinar

Retaining
Your
Top
Performers

Steve Parker, SPHR
VP HR Solutions
SumTotal Systems

#WFwebinar

LEARNING

TALENT

WORKFORCE

PAYROLL &
EXPENSE

3,500 Customers | $250M+ Revenue | Nearly 30 Years in HR
45M Users | 17M Cloud Users | 95% Customer Retention

Page 9
Copyright © 2013, SumTotal Systems, LLC. │ PROPRIETARY AND CONFIDENTIAL

Agenda
"   The Real Importance of Retention
"   What Your Top Performers Want
"   3 Steps to Providing It
"   Your Questions

Page 10

The Real Importance of
Retention

Page 11

The War for Talent is Back

Page 12

66% of CEOs say the lack of the right skills is their
biggest challenge
(Manpower, 2012)

Page 13

3.9M jobs are open in US right now
(BLS, 2013)

Page 14

52% of jobs are going unfilled due to lack of “the
right talent” to fill them
(Manpower, 2012)

Page 15

1 in 5 executives report a high negative impact on
their ability to meet client needs
(Manpower, 2013)

Page 16

Question: How have talent constraints impacted your company’s growth and
profitability over the past 12 months?

Our talent-related expenses rose more than
expected
Our quality standards fell
We couldn't achieve growth forecasts where we
are based
All

We couldn't achieve growth forecasts overseas

US

We weren't able to innovate effectively
We were unable to pursue a market opportunity
We cancelled or delayed a strategic initiative
0

5

10

15

20

25

30

Source: PWC 2012 Global CEO Survey
Page 17

35

40

45

50

71% of the workforce is not engaged
(Gallup, 2012)

Page 18

Employees with lower engagement are 4x more
likely to leave their jobs
(Corporate Leadership Council)

Page 19

What Your Top Performers
Want

Page 20

#1

influencer of job satisfaction is the
opportunity to use skills and
abilities

Source: SHRM, 2012
Page 21

Components of Engagement

Autonomy

Mastery

Purpose

•  People want to
have control over
their work

•  People want to get
better at what they
do

•  People want to be
part of something
that is bigger than
they are

Page 22

Employee Expectations

"   The new generation of workers want:
§  Growth opportunities
§  Job flexibility
§  Ability to drive their own learning and receive role
specific information
§  Up-to-date technology that allow them to work fast

Source: Forrester Research, “Transform Strategic Processes for Talent Management and Employee Engagement,” 2012
Page 23

#1

Really know your
people

Page 24

• Personal
Attributes

• Knowledge

Who
They Are

What
They Can
Do
• Competencies

What
They
Know
What
They
Have
Done
• Experience

Page 25

Poll Question
What’s the state of your people data today?
①  What data?
②  We have multiple systems and lack a single source of truth
③  We have multiple systems and sources of data, but they’re
integrated
④  We have a single source of truth and a comprehensive view of our
people

Page 27

75%

Of organizations use more
than three HR systems

Source: Forrester Research, 2011
Page 28

LACK
OF
A
“SINGLE
SOURCE
OF

TRUTH”
OF
TALENT

CRM

LMS

RECRUITING

SUCCESSION

SUPPLY

CHAIN

CAREER
DEV

PAYROLL

HIGH
COMPLIANCE
AND

OWNERSHIP
COSTS

COMPENSATION

FINANCIAL
S

PERFORMANCE

HRIS

ERP

LACK
OF
INTEGRATED

VISIBILITY
AND
ANALYTICS

Page 29

LACK
OF
INTEGRATED

HR
PROCESSES

Systems Consolidation Isn’t The Answer
Average HR
technology
consolidation
Cost: $6 million
Time: 3 years
Organizations:
“We’ll continue to need
multiple systems into the
foreseeable future.”

Technology Vendors:
“The only way to get
information & value is to
buy everything from us.”

Data mapping is
70% of project cost

Page 30

A
VIRTUAL
‘SINGLE
SOURCE
OF

TRUTH’
OF
TALENT

CRM

LMS

RECRUITING

SUPPLY
CHAIN

SUCCESSION

CAREER
DEV

COMPENSATION

FINANCIALS

IMPROVE
COMPLIANCE
AND

OWNERSHIP
COSTS

INTEGRATED
HR
PROCESS

PERFORMANCE

PAYROLL

HRIS

ERP

INTEGRATED
HR
ANALYTICS

Page 31

#2

Provide right-time
personalized
experiences

Page 32

“

One size fits all doesn’t work. We thought off-the-shelf
was easier, but now companies are realizing that off-theshelf talent management practices are more difficult to
see real results from...

Source: Towers Watson
Page 34

”

Personalization Drives Retention

In-context learning and
development

Productivity

Instant collaboration
with experts

Engagement

Targeted, practical
career development

Promotions

200%
40%

Page 35

75%

67%

Don’t think HCM software
helps them do their jobs
better

Source: Penn Schoen Berland, 2012
Page 36

Poll Question
What’s the highest level of value you are getting from your
HR systems infrastructure today?
① 
② 
③ 
④ 

Little or Unclear
Automates Important Functions and Processes
Provides Cross-Functional Insight Into Talent Capabilities
Helps People Be Better At Their Jobs and Drives Productivity

Page 37

Talent Expansion is People-Centric
ROI

"   Increased productivity
"   Improved adoption and
engagement
"   Nearly triple the ROI

Talent Expansion

Talent Management

Traditional
HCM
Core Tracking +
Reporting

1980

+ Context &
Pervasiveness

+ Improved UI

2000

2012

Page 38

Typical

UX =

USABILITY
Be easy to use

Page 39

Talent
Expansion

UX

=

USABILITY
Be easy to use

+

CONTEXT
Deliver immediate
value to the end
user

Page 40

+

PERVASIVENESS
Be available where &
how users already
work

1.

Context

Similar to Amazon and other consumer technology, the system
understands the users profile and what they are trying do and can offer
relevant advice and actions to help the user be more effective

Page 41

Context-Aware User Experience
Performance Improvement

Page 44

Context-Aware User Experience
Manager Coaching

Page 45

1.

Context

Similar to Amazon and other consumer technology, the system
understands the users profile and what they are trying do and can offer
relevant advice and actions to help the user be more effective

2.

Pervasiveness

Instead of making users come to the system, the system can use “widgets”
and mobile capabilities to deliver functionality to the user wherever they are
working, even in other systems

Page 47

Mobile is Here
9
8

#
(in billions)

7
6

Population

5

Mobile

4

PC

3

TV

2
1
0

1973

1993

2013

Page 48

62%

Of workers use their own
smart phone for work,
and this number is
expected to rise

Source: Brandon Hall Group, 2013
Page 49

Dr. Conrad Gottfredson’s 5 Moments of
Learning Need

Knowledge Acquisition
1.  When learning for the first
time
2.  When wanting to learn
more

Knowledge
Application
1.  Trying to remember
2.  When things change
3.  When something goes
wrong
m-Learning Perfect
Fit

Page 50

Pervasive Access
Field Sales

Scenario
"   Field sales employees have direct
access to recommended learning
and social connections relevant to
their performance and the
opportunity and customer type on
which they are working directly
from their CRM systems (like
salesforce.com)

Page 51

Pervasive Access
Manufacturing

Scenario
"   Machine Operators whose
performance is below standard are
given regular, hyper-personalized
direction and training directly from
time tracking devices as they clock
in to create focus and increase
performance.

Page 52

72%

Of companies use social
technologies in some way,
but very few achieve the
full potential benefit.

Source: McKinsey Global Institute 2013
Page 53

$1.3T

Untapped value from
social technologies

Source: McKinsey Global Institute 2013
Page 54

#3

Incent Managers to
Prioritize Internal
Talent Mobility

Page 55

Your Managers May Be Your Biggest
Obstacle
Successful managers are often
good at:
"   Selecting great talent
"   Developing great talent
But not always:
"   Giving up great talent

Page 56

<3

91% of Millennials expect to stay in
a job for less than 3 years

Source: Forbes, 2012
Page 57

Poll Question
How does your organization treat internal talent?
①  We’re talent hoarders. We make it hard for people to move to new
roles.
②  We allow people to move, but have rules to make sure it doesn’t
become disruptive.
③  We encourage people to move and take on new roles.
④  We proactively manage internal talent mobility.

Page 58

“

Facebook has not once bought a
company for the company itself. We buy
companies to get excellent people.

”

Source: Mark Zuckerberg
Page 59

It’s Not Just About Retention

Internal Hires Produce:
" Significantly higher performance in the first 2 years on
the job
" 20% lower turnover rates
" Up to 30% less expensive

Source: Matthew Bidwell, Wharton, 2012
Page 60

Q&A

Steve Parker, SPHR
VP HR Solutions
SumTotal Systems

sparker@sumtotalsystems.com

@stevenjparker

@sumtotalsystems

www.sumtotalsystems.com

•  Please take this time to submit your Questions
•  Also please fill out the event survey.

#WFwebinar

Join our next Webinar!
The Datafication of HR: Graduating
From Metrics to Analytics
Friday, February 28, 2014

Webinars start at 2pm ET / 11am PT

Register for all upcoming Workforce Webinars at
www.workforce.com

#WFwebinar

Retaining Your Top Performers

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (6)

Similar to Retaining Your Top Performers

Similar to Retaining Your Top Performers (20)

More from Human Capital Media

More from Human Capital Media (20)

Retaining Your Top Performers