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Super Manager

  1. 1. SUPER MANAGERWinning Strategies for Attracting, Developing & Maintaining Your Talent Presented by: Fred Lange
  2. 2. People are the Key “The toughest decisions in organizations are the people decisions – hiring, firing, promotion, etc. These are the decisions that receive the least attention and are the hardest to unmake.” Peter Drucker Direct, Practical Advice that Works
  3. 3. Paying Top Talent Work with UsWinning Strategies for Finding, Developing & Maintaining Top Talent ATTRACTING TOP TALENT Direct, Practical Advice that Works
  4. 4. Attracting Top Talent IMPACT OF MISS-HIRESManagerial hiring success has been strangely ignored regarding the cost of a miss hire: Salary Cost Less Than $840,000 (14 x salary) $100,000   $100 – 250,000 $4.7 Million (28 x salary) Typical Hiring Success Rate 50% Source: B. Smart, Ph.D.    Goal to Improve Hiring Rate to more than 90%  Productivity of Top Talent = 100x Gates, 10x Cisco Direct, Practical Advice that Works
  5. 5. Attracting Top Talent DOES YOUR COMPANY… Bring in highly talented people? Integrate them quickly and effectively?Identify top talent and compensate accordingly?Retain key contributors?Manage low performers? Direct, Practical Advice that Works
  6. 6. Attracting Top Talent BUILDING A COMMITTED WORKFORCELeadership Culture Trust/respect/integrity/opennessVisionary with shared values Valuing achievementBuilder of teamsDeveloper of people/mentor Innovation/flexibilityCoach (empowerer) Teamwork and Customer FocusWalks the talk Work/ life balance (and FUN!)Career Total CompensationThe work itself/ freedom to innovate Competitive base salaryProfessional growth/ continuous learning Individual, team & company incentivesOpportunity for advancement/ career pathing Broad-based stock optionsSatisfaction in achievement Innovative benefits Direct, Practical Advice that Works
  7. 7. Attracting Top Talent RECRUITING TALENT – BEST PRACTICESHire Top RecruitersEmployee Referrals What’s your “WOW” FactorCandidate Referrals  Nortel – hire graduating classTargeted Recruiting (Lists & Directories)  Business Cards/Fish Bowl Multiple Postings (Casting Wide Net)  Sabbaticals In-depth ScreeningCandidate Experience Travel Awards Training Managers (Identify Fit)  Concierge Hi-Touch Offer  Put Work Where Talent Wants to Be Direct, Practical Advice that Works
  8. 8. Attracting Top Talent LEVELS OF TALENT – ABC GRADINGTop Talent (A Players) One who qualifies among the top 10% of those available for a position; at the given compensation level, with whatever bonus comes with it, in that specific club with a certain organization culture (family friendly? politics? growing? status?), in that particular industry, in that location, with those accountabilities, with those resources, reporting to a specific person(s).B PlayerNext 25% of those available for a position.C PlayerBelow the top 35% of those available for a position. Direct, Practical Advice that Works
  9. 9. Attracting Top Talent LEVELS OF TALENT – ABC GRADINGA PLAYERS The best of class in their job category. Typicallythey are the top 10% of the talent available in the marketplaceat a specific salary range. Defining an A player sounds simple,but it is not. The persons skills, motivations, and personalitytraits will vary depending on the job description. (Your C playerin one job could be your A player in another.) While all A playersmust have rock-solid integrity and a sterling job-performancetrack record, not all will have to be team leaders or long-termvisionaries, though that surely helps. They all must be quickstudies. In todays tight labor market, hiring and retaining Aplayers often requires golden handcuffs, such as bonuses andlong-term incentives. Direct, Practical Advice that Works
  10. 10. Attracting Top Talent LEVELS OF TALENT – ABC GRADINGB PLAYERS These managers fall into the top 25% of their jobclass mainly because they fall short in two to three areas.Unfortunately, most of them hire B or C employees and acceptless than top performance from their staff. The good news isthat some can be upgraded to A status if coached and trained.Others can become star players if their job responsibilities arefine-tuned. They can also be redeployed in other roles in a club. Direct, Practical Advice that Works
  11. 11. Attracting Top Talent LEVELS OF TALENT – ABC GRADINGC PLAYERS These employees fall below the top 35% of theclubs work force. More often than not, they drag a club downlike dead weight and must be placed in other jobs within theorganization or fired. Most C players suck the creative energyout of their organizations. They fail to prevent problems andthen cannot fix them. Because most have difficulty coping withnew or complex situations, its tough to find them a new safeharbor in the club. Many organizations have stumbled with Cplayers in key spots. Direct, Practical Advice that Works
  12. 12. Paying Top Talent Work with Us Winning Strategies for Finding, Developing & Maintaining Top TalentPAYING TOP TALENT Direct, Practical Advice that Works
  14. 14. Paying Top Talent REWARD PRINCIPLES Create a positive & natural reward experience  Communicate advantages to the workforce; Involve people in the change process to gain understanding, acceptance and commitment. Align rewards with business goals to create win-win partnership  Both employees and company need to gain from the relationship; Clear direction; People = Economic Value Added (EVA); Company acknowledges EVA with rewards. Extend people’s line of sight  How they influence the results of their team, group, business unit, and company; How they influence the customer; Knowledgeable stakeholder in overall business. Integrate rewards  Use each reward tool for what it does best; Total rewards, not just total pay; Total customize better workforce deal from total rewards Reward individual ongoing value with base pay  Skills & competencies needed by the company and used by the individual to generate results; Individual consistent performance over time; Individual ’s value relative to the labor market. Reward results with variable pay  Cash & bonuses – variable – focused on key measures of success Direct, Practical Advice that Works
  15. 15. Paying Top Talent BETTER WORKFORCE REWARDSIndividual Growth Compelling Future Invest in People Vision & Values Development & Training Company Growth & Success Performance Management Stakeholdership Career-enhancement Win-win Over Time Total Pay Positive Workplace Base Pay People Focus Variable Pay Leadership Benefits or Indirect Pay Colleagues Recognition and Celebration Work Itself Involvement Trust & Commitment Open Communications Direct, Practical Advice that Works
  16. 16. Paying Top Talent Work with UsWinning Strategies for Finding, Developing & Maintaining Top Talent RETAINING TOP TALENT Direct, Practical Advice that Works
  17. 17. Retaining Top Talent WHAT DOES TOP TALENT WANT? The world! First, they want a challenge and to have fun coming to work. So they want the resources and opportunity to make things happen. Second, top talent wants an informal culture with very little bureaucracy. Third, they want compensation thats tied to performance  Source: RADFORD CONSULTING Direct, Practical Advice that Works
  18. 18. Retaining Top Talent WHAT THEY WANT?  Empowering relationship with their manager A winning, high-performance culture The fun and excitement of working with a team of top talent The opportunity to grow, to meet challenges, to rise in stature and title Competitive pay, bonus and benefits  [Proactive increases in pay and compensation. Do not wait until the threat of quitting to pay people appropriately] Source: B.Smart, Ph.D. Direct, Practical Advice that Works Direct, Practical Advice that Works
  19. 19. Retaining Top Talent AMENABILITY OF COMPETENCIES TO CHANGERelatively Easy Very Difficult to Change Harder But Doable to ChangeRisk Taking Judgment IntelligenceLeading Edge Strategic Skills Analysis SkillsEducation Pragmatism CreativityExperience “Track Record” Conceptual AbilityOrganization/Planning Initiative IntegritySelf-Awareness Conflict Management Inspiring “Followership”Communications – oral Independence AssertivenessCommunications – written Stress Management EnergyFirst Impression Adaptability EnthusiasmCustomer Focus Likeability AmbitionPolitical Savvy Listening TenacitySelecting Talent (A-players) Team PlayerRemoving Marginal Talent (C-players) Negotiation SkillsCoaching/Training PersuasivenessGoal Setting Change Leadership Direct, Practical Advice that Works Direct, Practical Advice that Works
  20. 20. Retaining Top Talent THE LIKELIHOOD OF CHANGE frequentHow frequent is the behavior? Very difficulty to change “character-driven behaviors are like crabgrass: deeply rooted and difficult to weed out.” Manager’s willingness to change Very easy to change infrequent response to a expression of character particular situation How deeply entrenched is the behavior? Direct, Practical Advice that Works Direct, Practical Advice that Works
  21. 21. Retaining Top Talent REDEPLOYING Thorough & accurate assessment Reasonable performance goals Ongoing feedback Role modeling Comprehensive coaching No hard feelings Increase self-awareness by marginal c-player Increasing skills by c-player Opportunities for ego protection Direct, Practical Advice that Works Direct, Practical Advice that Works
  22. 22. Retaining Top Talent REDEPLOYING“Having interviewed more than 100 presidents and CEO’s who attributed their failure to “carrying C players” The vast majority of cases, they said, “I should have moved quicker to get rid of C-players” B. Smart, Topgrading Direct, Practical Advice that Works Direct, Practical Advice that Works
  23. 23. Retaining Top Talent MANAGEMENT OFFSITE (RE: TALENT) Do we have the talent to meet our goals? Will we have it? How successful are we in recruiting people, internally and externally? What is our hiring batting average? Where are we strong and weak in management? Which A players should be promoted, and to what jobs, in order to retain and develop them, but not put them over their head? How many external searches should we do, for what jobs? Have we made progress in culling the chronic C-players? Why not? Who’s responsible? Are we all in a full-court press for recruitment by developing and using our networks to generate candidates? Can we bypass search firms? How are we progressing on developing an internal “bench,” so we can have an optimal blend of promoting people from within and enriching the mix with talent from outside Direct, Practical Advice that Works Direct, Practical Advice that Works
  24. 24. Retaining Top Talent LIFE BALANCE SCORECARD Employees want a manager that has a balanced life. How would you score yourself? Good Not Good Enough Enough Critical Life Dimension1. □ □ Career success2. □ □ Wellness3. □ □ Relationships (family, friends)4. □ □ Giving something back5. □ □ Financial health/independence6. □ □ Spiritual grounding7. □ □ Recreation (pleasure, hobbies) Direct, Practical Advice that Works Direct, Practical Advice that Works
  25. 25. Retaining Top Talent SUPER MANAGER//COACH A Partner. “Hey, you’ve got a problem, let’s work on it together.” Interested, engaged, respected. Promotes autonomy. Helps coachee to independently diagnose problems, consider solutions; makes informed choices regarding development. Positive. Supportive, builds confidence, an enthusiastic motivator. Uses praise and recognition for progress and accomplishment. Never ridicules. Passionate. Has a sense of humor. Invariably respectful. Trustworthy. Honest. Maintains confidences. Open. Admits when wrong. Doesn’t over promise.       Direct, Practical Advice that Works Direct, Practical Advice that Works
  26. 26. Retaining Top Talent SUPER MANAGER//COACH Caring. Compassionate and empathetic. Sincere. Patient. Understands how hard it is to change. Tolerant. Reasonable. Results-oriented. Focuses only on important issues. Proactive. Infectiously committed to helping coachee perform. Follows through on promises. Perceptive. Understands coachee’s strengths, shortcomings, goals, needs. Authoritative. Knowledgeable. Wise. Clear and specific in feedback. Has common sense. Generates valid measures of improvement. Active listener. Plays back content and underlying feelings. Summarizes, clarifies.                  Direct, Practical Advice that Works Direct, Practical Advice that Works
  27. 27. Direct, Practical Advice that Works