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Talent retention penne gabel and colleen la rose

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What is talent retention? Why is it important? How can the public workforce system help companies with their talent retention efforts? All this and more is covered in this webinar! The full webinar may be purchased at www/nereta/org/training

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Talent retention penne gabel and colleen la rose

  1. 1. Talent Retention Penne Gabel, PHR Director, Talent Management Easter Seals New Jersey
  2. 2. What Does “Workforce Investment” Mean to You? • • • • • Job matching (who has the right skills to fill this job order?) Job development (what jobs are available?) Training (skills development, education) Helping people overcome barriers to employment Helping people “sell themselves” (resumes, interviews, cover letters)
  3. 3. What Does “Workforce Investment” Also Mean… • Job creation (business growth, development, succession planning) – “Bringing in the right people” (H1B visas, talent attraction) – At the right time (temp work, workforce planning) – At the right price (wage profiles) • Industry sector collaboration • Incumbent worker training (customized training) • Stabilizing the workforce (retention) • Employee engagement • Career planning (apprenticeship, internships, continuing education, transferable skills, retirement planning) • Entrepreneurship training
  4. 4. What is “Talent Retention?” • • • • Reduces hiring and training costs Offers career advancement Increases morale – more employee loyalty Increases productivity with lower learning curves
  5. 5. Why Talent Retention Matters Bureau of Labor and Statistics - Current Unemployment Rates
  6. 6. Estimated Turnover Costs • Job Type/gory Average Turnover Cost • • • • • • • Entry Level - Hourly, Non Skilled (e.g. Fast Food worker) 30-50% Skilled Hourly (e.g. Machinist) 70-100% Technical (e.g. Computer Technician) 100-150% Engineers (e.g. Chemical Engineer) 200-300% Specialists (e.g. Computer Software Designer) 200-400% Supervisors/Team Leaders (e.g. Section Supervisor) 100-150% Middle Managers (e.g. Department Manager) 125-200% Source: Case Study by Jack Phillips Center for Research, ROI Institute and Bloom Consulting, Inc. 2009
  7. 7. What helps people feel connected and want to stay in the region Networking: • Make connections/introductions. Facilitate networking opportunities (co-op working, tech meet-ups, sector meetups/career fairs) • Encourage school/college/business interactions (internships, job shadowing, career planning) • Engage students and young workers in cultural and recreational activities in the region Growth/Transition: • Discuss regional potential/opportunities in open forums • Encourage entrepreneurship training/access to capital • Encourage CEO training (business expansion)
  8. 8. External Public Relations Recognizing businesses who invest in their workforce – – – – – – – – – – tuition reimbursement home buying programs family leave Flexible work environments community donations Compensation and Rewards Socialization Opportunities for Development staff community volunteer programs, etc Employer of the month/year?
  9. 9. Talent Retention Factors within Businesses 1. 2. 3. 4. Organizational Development (career opportunities, training) Compensation (fair salary, generous benefits) Organizational Culture (work environment, policies, recognition) Motivational Compatibility (strengths, values and circumstances in position, in company, in community) 5. Workload (equitable, reasonable, expected) 6. Management (immediate supervisor, chain of command, organizational leadership)
  10. 10. So Why Do Employees Leave? Leigh Branham, author of 7 Hidden Reasons Employees Leave • Reviewed more than 20,000 exit surveys. Employers - 89 % believed that employees quit because of money Employees - 88% quit for something other than money.
  11. 11. Seven primary reasons for leaving a job: 1. Trust in leadership 2. Vision - Not feeling valued (pay, recognition, having your voice heard, being in the loop, having the right resources, etc) 3. Lack of connection with the overall strategy 3. Ineffective manager, particularly lack of coaching and feedback 4. Insufficient opportunity for personal career growth and learning 5. Job-person mismatch/talent underutilization 6. No enjoyment or excitement; challenging work
  12. 12. What keeps workers on the job? • Increased salary? More benefits? Security? • Most important are fulfillment of these employee needs: – Power – Achievement – Affiliation
  13. 13. • • • • • • Critical strategies for retaining employees Engagement Recognition Valuing Support Mobility/Career planning Clear goals
  14. 14. Internal public relations Creating Employee Loyalty • • • • • • Suggestion box Feel informed (company newsletter, intranet) Sense of purpose/clear goals Recognition of Accomplishments/Achievements Comraderie/Team approach Opportunity for Innovativeness
  15. 15. Employee Engagement "It goes in circles: When people are more engaged, their companies do better, and those companies have room to add more people. When employees are not engaged or are actively disengaged, their companies don't do as well, they don't hire new workers, and they may even lay off the workers they have. But when the ratio between engaged employees and actively disengaged employees improves, the whole company improves. That, in turn, can improve whole economies.“ - Sangeeta Agrawal, Gallup workplace research manager Only 9% of employees are engaged when not focused on strengths. But, engagement soars 73% when focus is on strengths -Strengths based Leadership – Rath and Conchie What if jobseekers put their strengths on their resumes? …and employers purposefully placed people in work situations that played to their strengths?
  16. 16. Contact Penne Gabel Director of Talent Management Easter Seals of New Jersey Email Phone Twitter LinkedIn gabelpenne@gmail.com 201-452-3777 hrpenne www.linkedin.com/in/pennegabel
  17. 17. 10 things the workforce system can do to help businesses with Talent Retention Colleen LaRose President and CEO North East Regional Employment and Training Association
  18. 18. Retention is required in all four DOL performance measures • ADULT, DISLOCATED WORKER AND OLDER YOUTH – “Retention in unsubsidized employment six months after entry into the employment” • YOUNGER YOUTH – “Placement and retention in postsecondary education, advanced training, military service, employment, or qualified apprenticeships” What are you doing to actively assure retention for placements?
  19. 19. What do you spend most of your time on? Helping people get a job Helping people stay employed
  20. 20. What Does “Workforce Investment” Mean to You? • • • • • Job matching (who has the right skills to fill this job order?) Job development (what jobs are available?) Training (skills development, education) Helping people overcome barriers to employment Helping people “sell themselves” (resumes, interviews, cover letters)
  21. 21. But Doesn’t “Workforce Investment” Also Mean… • Job creation (business growth, development, succession planning) – “Bringing in the right people” (H1B visas, talent attraction) – At the right time (temp work, workforce planning) – At the right price (wage profiles) • Industry sector collaboration • Incumbent worker training (customized training) • Stabilizing the workforce (retention) • Employee engagement • Career planning (apprenticeship, internships, continuing education, transferable skills, retirement planning) • Entrepreneurship training
  22. 22. The “Talent Retention” Concept • Regional retention –Brain drain • Talent retention for individual businesses – Controlling for churn, turnover, poor hiring, conflict (Not retirement, disability, death, etc.) Talent retention = business growth = job creation High cost of talent replacement Economic impact Economy stabilization
  23. 23. What Most Influences Talent Retention In Community •Belonging/fit in (CampusPhilly.org) •Quality of life •Opportunity to grow and improve In Business • • • • • • Career opportunities Work environment Work life balance Organizational justice Leave policy Organization image
  24. 24. Workforce Investment Opportunities 1. Worker preparation 2. Wage information/Job posting clarity 3. School/Business cooperation 4. Networking opportunities 5. Incumbent worker training 6. HR staff training/Management training 7. Business expansion training 8. Career path identification 9. Entrepreneurship assistance 10.Workforce planning software assistance
  25. 25. Workforce System Opportunity Worker preparation • Employee expectations • Powerpath • Strengths Identification
  26. 26. Workforce System Opportunity Wage information/Job postings • • • • Local labor market study Realistic wage information (based on local economy) Clarity with Job postings Realistic employer expectations
  27. 27. Workforce System Opportunity School/Business Cooperation • • • • Coordinate with college career placement offices Internships Job shadowing Career planning
  28. 28. Workforce System Opportunity Business and Employee Networking Opportunities • • • • • • • • Social responsibility/community volunteer opportunities Social/work integration opportunities (ie. company night out at a baseball game) Opportunity to socialize/network vertically and horizontally Co-op working Tech meet-ups Entrepreneur meet-ups Sector meet-ups Career fairs/Job fairs
  29. 29. Workforce System Opportunity Incumbent worker training Customized training Corporate training Coordinating customized training providers Sector approach to training
  30. 30. Workforce System Opportunity HR staff training/Management training • • • • • Employee engagement Employee recognition strategies Suggestion box Team Building Customized training
  31. 31. Workforce System Opportunity Business expansion training Market expansion opportunities Economic gardening CEO Training
  32. 32. Workforce System Opportunity Career Path Identification/Development • Career Development services by sector • Discussions about internal career path opportunities
  33. 33. Workforce System Opportunity Entrepreneurship Assistance • • • • • Local system of support for entrepreneurs and small business Innovative culture Co-op/Meetup (spontaneous) working opportunities Potential to become owner Hope
  34. 34. Workforce System Opportunity Workforce planning • Workforce planning fails when it is viewed as an HR issue rather than a business issue.
  35. 35. Workforce System Opportunity What is workforce planning? • Workforce planning is the process that provides strategic direction to talent management activities to ensure an organization has the right people, in the right place, at the right time and at the right price to execute its business strategy.
  36. 36. Workforce System Opportunity Most companies do workforce planning only on an “as needed “ basis • • • • • • Relocation Mergers and acquisitions Change in leadership Change in company strategy Global expansion Diversifying the workforce
  37. 37. Workforce System Opportunity Workforce Planning Software • Effective and efficient employee development and performance software that enables organizations to staff, develop, deploy, track and reward their workforce. • Applications address: – – – – – – requirements for hiring and selection human resources Payroll absence management and analytics integrated learning talent management solutions. • Solutions span the workforce life cycle, including performance, succession planning, streamline onboarding, skill and knowledge retention, reduce new hire time to productivity, social networking, compliance and compensation.
  38. 38. Questions? Need further assistance? NERETA can help! • Colleen LaRose President and CEO North East Regional Employment and Training Association (NERETA) P (908) 995-7718 E colleen@nereta.org www.nereta.org

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