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Peter Watson's Presentation on Talent Retention at the 2011 HR Summit

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What actions can you take to retain the top talents in your organisation? There are hundreds of options but your resources are limited and so sorting out which ones will have the maximum impact is absolutely critical for the success of your HR strategy. See examples of how I addressed talent retention with organisational development activities as well as targeted programs. However, one critical success factors operates across all interventions - the positive engagement and involvement of the immediate manager. Find out more and see if these actions can help your organisation.

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Peter Watson's Presentation on Talent Retention at the 2011 HR Summit

  1. 1. Preserving Key Employees andAvoiding Talent Drain to Win theHuman Capital FightPeter WatsonHR Director - AstraZeneca5 March 2011HR Summit – Gold Coast Australia
  2. 2. Topics• Framework for the Talent Retention Challenge • What drives retention • The role of the Manager• Case Studies: • AZ Managers‟ Program • Flexibility with Accountability • Targeted Retention2 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  3. 3. What Drives Retention? Remuneration Work/Life Quality of Flexibility Manager Talents Career Work Development Challenge3 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text) Source: CLC April 2004
  4. 4. Managers Control a Majority of the Most Effective Drivers of Employee Performance &Retention Impact of top performance drivers Impact of top retention drivers Line managers directly influence a Line managers also control a majority of disproportionate share of the most the most powerful drivers of employee effective drivers of performance. The two intent to stay with the organization. The strongest manager-influenced drivers, for two strongest manager-influenced example, are: drivers, for instance, are: •Providing fair and accurate informal • Facilitating internal communication: feedback: 39% impact on performance 38% impact on intent to stay •Clarifying employee performance • Advising on career development: 50.0 expectations: 36% impact on performance 50.0 37% impact on intent to stayDriver impact Driver impacton employee 25.0 on employee 25.0performance intent to stay 0.0 0.0 Manager activities Non-manager activitiesSource: Corporate Leadership Council research.
  5. 5. The Role of a Manager as a “Connector” The results of commitment: Discretionary Effort & Intent Two commitment types Four points of commitment to Leave While employees can rationally and emotionally commit to 4 different points of Discretionary the organisation… Effort Rational An employee‟s 1. Day to day work 3. Line manager willingness to go Performance Commitment 2. Teams 4. The organisation „above & beyond‟ the call of duty …the unique role as „connector‟ enables managers to strengthen employee commitment in all 4 directions. Intent to Stay Emotional Employee An employee‟s desire to stay with Retention Commitment the organisation Mgr Team Org JobSource: Corporate Leadership Council research.
  6. 6. The 5 Top Retention Levers in the Hands of a Manager Role 2 Managing the employee‟s relationship / engagement with the organisation 1. Amplify the good, filter the bad 2. Connect employees with the organisation and its success 3. Instill a performance culture 4. Connect employees with talented co- workers 5. Demonstrate a „credible commitment‟ to employee developmentSource: CLC
  7. 7. Case Study 1AZ Managers‟ Programme7 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  8. 8. Managers‟ Programme OverviewHow to help managers‟ reframe their role?How to help managers see both formal and informalopportunities to engage their employees?Move beyond theoretical concepts?The answer…. Raw unedited anecdotes from employees describing good, great and poor experiences of work life with AZ8 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  9. 9. Anecdotes – an example of the impact a manager can have“at around nine months of being in and I got the conversation with mymanager where she said, now where do you want to go. And I said, hey,are you trying to chuck me out already. I‟d rather like to keep this job if youdon‟t mind. But the conversation was tuned to the fact of, okay, well you aregetting close to the first year. Where do you see yourself being? Where doyou want to develop to? How can I help you develop that?” Well, it was anamazing vote of confidence because it was, okay now I feel like I‟m part ofthis and I can develop. And she said, okay, whatever you want to do, I‟llhelp you in any way I could possibly help you to get to that goal. And that‟swas an amazing statement; particularly so early on and that was a realendorsement.”9
  10. 10. Feedback from Managers after the ProgrammeAnecdotes had strong impact on managers, and gave them insight intothe power of everyday interactionsAnecdotes / real stories not „case studies‟ – added realism to course andallowed group members to easily relate and take home learningsEvery interaction with an employee is either a chance to motivate or de-motivateQuote from a participant, “The most „real‟ management training course Ihave been on”10 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  11. 11. Case Study 2Flexibility with Accountability11 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  12. 12. The Challenge & The Opportunity Clear need to change how Feedback from Uncompetitive employees in the external flexibility is managed at that we‟re market “inflexible” AZA Inconsistency of flexibility across the business
  13. 13. Flexibility with Accountability Principles of Flexibility Meeting business goals is the Performance is not company‟s top priority defined by physical presence Flexible Working Employee – Equity does not guarantee Arrangements manager You days collaboration is employees the Working From Home – Ad hoc same outcome critical Flexible start Finish times Working outside business hours Lifestyle Friendly Leave Flexibility is a Toolkit Employees are not entitled to two-way street flexibility* Performance matters * Legal requirements exist to provide flexibility
  14. 14. Key challenge: balance flexibility with accountability AZA‟s Flexible Work Arrangements Principles Description• Performance matters • Only employees with “meets expectations” performance reviews may request flexible scheduling• Meeting business goals is AZA‟s top • The needs of our customers and teams must be fully priority addressed when designing flexible work arrangements• Performance is not defined by physical • Acknowledges that from time to time, employees can presence and do perform work activities from remote locations eg. Home• Equity does not guarantee employees • A flexible scheduling solution need not and will not be the same outcome the same for all employees• Flexibility must be a two-way street • Established flexible work arrangements must themselves remain flexible• Employees are not entitled to flexibility* • Flexible scheduling is not appropriate for all employees or positions within the company*• Employee-manager collaboration is • Open dialogue between managers and employees is critical crucial* Exceptions apply in case of legal requirements
  15. 15. Flexible Working Arrangements at AZAEach of the offerings are designed to provide flexibility with accountability consistently across the business • You Days (Formally RDO‟s) • Recognising evening business activity • Work from home (adhoc) • Flexible start & finish times • Lifestyle Friendly Leave
  16. 16. Vacation Care ProgrammeOffered 5 weeks per yearChildren aged 4 – 13 yrsRun by YMCA – qualified staff, excellent programsOn-site – AZ cateringFlexible booking – single days OKFantastic Feedback from staff
  17. 17. Flexible Work Proposal ToolkitThe toolkit is designed to help managers discuss and explore flexible work arrangements with their staff. It provides guidelines for managers and staff on:• how to plan,• implement, and• communicate a flexible work arrangement.The toolkit provides guidance for managers to assess requests on a case by case basis.
  18. 18. Flexible Working Arrangements on the HR website FWA Overview FWA Guide FWA FAQ FWA Toolkit
  19. 19. Posters, emails, AZTV, stress puzzle,brochure 5 weeks February to March, 2010
  20. 20. Average Tenure has Increased by 50% Tenure Profiles (YTD 2007) 181 25 5 29 100 >5 yrs 80 3-5 yrs Today 2-3 yrs average 60 1-2 yrs tenure is 3.9 Percent years 40 <1 yr** 20 <1 yr 0 Sales Rep Territories* PCAM Sales Manager Average 2.6 2.2 12. 7.3 Tenure 3Note: * Excludes 3 staff with tenure > 20 yrs; ** New roles due to introduction of xxxxxx
  21. 21. Summing UpBuild a Brand• Alignment with EVPCreate a Supportive Culture• Manager engagement• Principles, Mindset & BehavioursGet the Mechanics in Place• Policies• Guides• FAQs• Toolkits
  22. 22. Case Study 3Targeted Retention of Talents22 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  23. 23. Determining the Need for a Targetted Retention Plan – Assessing Departure Impact and Risk High Understand individual‟s Understand individual‟s preferred financial and non- preferred non-financial financial incentives and critical incentives and critical employment factors. employment factors. Openly engage individual with• Business critical project or initiative possible retention actions –would be negatively impacted Review questions on Risk Departure Impact Assessment Tool and act to create Retention Plan.• Business performance would be strengthen assessment.adversely impacted Identify potential successors• No suitable replacement/successioncandidates exist Identify potential successors Work to help individual• Very tight labour market, skills produce greater value e.g. and make contingency plansrequired in short supply – expensive to to replace if necessary. stretch assignments,replace• Corporate knowledge and experience coaching feedback, Redeploy to position wherevery difficult to replace performance objectives, he/she can have greater learning and development impact and add greater value opportunities. to AZA and decrease probability of departure. Low Departure Risk* High • Possesses highly sought after or scarce skills • Ready for a job move now – actively seeking • Impacted by recent organisational change • Unsuccessful in internal selection process 23 • Dissatisfied with aspects of employment * Refer Talent Risk Assessment Tool
  24. 24. Targeting Retention of Talents1. Make an assessment of „departure risk‟2. Consider individual retention drivers3. Formalise in a Retention Plan4. Communicate with the Employee5. Follow up and ensure action24 | Title of presentation | 00 Month Year (Go Header & Footer to edit this text)
  25. 25. Targeted Retention Plan 1. Personal Information Name Line Manager Current Role Years in Current Role Previous Role Years in Company Date of Assessment 2. Compensation & Bonuses Actual Increase Q2 Q3 Salary Bonuses 3. Action Plan Retention Objective Retention Activity Timing Accountable 4. Other Comments 5. Tracking Name Comments Date Name Comments Date Name Comments Date25 Authorisation Divisional Director Managing Director Date Date
  26. 26. 26 | Introducing AZengage| Octoberl 2010

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