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Human Resources Planning And Talent Management
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Human Resources Planning And Talent Management

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Human resources:Talent management and retention

Human resources:Talent management and retention

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  • 1. Human resources planning and talent management : Why others keep talent while you continue to loose that talent Presented by Kalema Richard (2007)
  • 2. Scope
    • Introduction.
    • Employee retention (definition).
    • Why employees leave.
    • Hidden costs of turnover.
    • Why communication
    • Effective Strategies for Retention.
    Presented by Kalema Richard (2007)
  • 3. Introduction
    • Employee retention is more than a “buzz word” ,it is a very real and powerful part of doing business in today's marketplace. It is becoming more and more difficult to find and retain top talent. The company that recognizes and embraces the need to be competitive in meeting the expectations of its employees is the one that will hold on to its most valuable asset - its employees.
    Presented by Kalema Richard (2007)
  • 4. Introduction continued
    • In order to understand employee retention we need to first define employee retention.
    • “ What is meant by employee retention”?
    • It is the extent to which an organisation is able to hold on to its employees for a specified time.
    Presented by Kalema Richard (2007)
  • 5. Why employee’s leave
    • Lack of recognition and rewards
    • Lack of advancement opportunities
    • Family obligations
    • Lack of feedback/communication from management
    Presented by Kalema Richard (2007)
  • 6. Why employees leave cont’d
    • Not being made to feel like a valued part of the company
    • Lack of training/education
    • Non-competitive compensation packages
    • Lack of responsibility/challenging work
    Presented by Kalema Richard (2007)
  • 7. Hidden Costs of Turnover
    • It is expensive to lose good people. It may not always be possible to put an exact price tag on the loss of an employee, but there are four internal sources to consider.
    Presented by Kalema Richard (2007)
  • 8. Internal sources to consider
    • Costs of termination.
    • The cost of hiring and training a replacement.
    • The vacancy cost until the job is filled.
    • The loss of productivity with a new hire.
    Presented by Kalema Richard (2007)
  • 9. Why communication
    • As a rule, companies commit fewer resources to employee communications than any other communication function for instance they pay more attention to; Media, Investors, Government, Customers, And consumers
    • Note : Effective internal communication is not a matter of slick publications or good-looking intranets. These are communication tactics that can facilitate the flow of information that ultimately should improve employees’ commitment to the company’s goals and objectives.
    Presented by Kalema Richard (2007)
  • 10. Why communication makes employees tick
    • Trust – The degree to which employees trust the company’s leadership is the single biggest contributor to employee commitment
    • Role Knowledge – Employees routinely hear broad, high-level pronouncements from management about strategy, goals, mission, vision, values, and a host of other issues
    Presented by Kalema Richard (2007)
  • 11. Why communication makes employees tick cont’d
    • Involvement – Employees are not content to sit back and let others make decisions that will affect them; In a world where knowledge is the most important element of production, employees believe they know more about their jobs and how they contribute to the bottom line than management does—and they’re usually right
    • A connection to the marketplace – Employees who perform their work in a vacuum are usually surprised by change, resulting in resistance and, frequently, failure; On the other hand, employees who are well connected to the factors that drive company change not only are prepared for change, they can initiate it
    Presented by Kalema Richard (2007)
  • 12. Effective Strategies for Retention.
    • Integration: Welcoming an employee into your company may seem like an easy task, but many organizations fail to plan accordingly. Integration must begin before the employee's first day of work.
    • Open Communication: An open line of a communication between an employee and his or her manager is a critical goal in ensuring employee satisfaction.
    • Informal meetings. Managers should hold breakfast, lunch or regular meetings with their employees. Meetings where management and employees share time discussing goals and strategies, as well as providing feedback to one another can go a long way in making employees feel valued .
  • 13. Effective Strategies for Retention cont’d
    • Rewards and recognition -are yet another crucial component to the success of your retention program because they confirm to the employees that their efforts are meaningful and appreciated. One of the easiest and best ways to reward employees is to simply congratulate employees on a job well done. Long hours and hard work that go unnoticed will leave employees feeling deflated
    • Balance between work and play .- For a number of employees, work might not be the top priority in their lives. Everyone has certain needs, whether it's related to family, financial well-being, spiritual connections, hobbies and extracurricular projects.
    Presented by Kalema Richard (2007)
  • 14. Effective Strategies for Retention cont’d
    • Culture and Commitment : It is a common misconception that retention is the sole responsibility of a company's Human Resources (HR) Department. In practice, a successful program includes buy-in from all departments and levels of an organization.
    • Build a sense of belonging - Emotional factors are very important in binding employees to organizations. It is therefore crucial that managers take time to engage employees’ commitment and energy.
    • Be creative with your Remuneration package - The inability to step outside set pay and compensation structures can make your company uncompetitive, especially when demand for skills is high.
    Presented by Kalema Richard (2007)
  • 15. conclusion
    • In order to retain talent, human resources managers need to design jobs to maximise skill variety, task significance, autonomy, control over their work and feedback, and ensure that they provide opportunities for learning and growth.
    Presented by Kalema Richard (2007)
  • 16.
    • CONTACTS
    • AKAMAI CONSULTS LTD
    • Makindye1,Mubarak Zone,
    • Lukuli road, Kafumbe lane.
    • P.O BOX 37814
    • KAMPALA,UGANDA
    • [email_address]
    • +256-752-640083
    Presented by Kalema Richard (2007)