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Chapter 3 stratergic talent mgt

Dec. 30, 2017
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Chapter 3 stratergic talent mgt

  1. Module-3 Developing and Retaining Talent
  2. Coaching for sustained and desired change Meaning of Coaching It is a partnered journey, where coach and client agree and contract on meeting certain goals and being with each other in a way that benefits the client. Coaching its actually counselling or the feedback. The main 5 steps are followed in the coaching for sustained 1.Educate your leaders- start at the top and educate your employees on the different benefits of coaching versus counselling. 2.Identify coaches participants and executive sponsors-look for individual and managers who can be trained to become internal coaches inside the company.
  3. 3.Manage expectations-clearly set expectations with the internal coachs,individuals being coahed.it is the best to run the initial program and build up on its success and clear on the goals of the program, the time commitment and their roles and responsibilities. 4.Train-enroll your internal coach candidates in a coach training program. The key here is to ensure that everyone participating has a similar experience. 5.Measure success-prior to start the program determine how you will measure the success .It may be done simply by using a net promoter score or with the simple impact study.
  4. Desired change Meaning the changes which are desired to be change are called desirable change. Change is a constant force in every organization. Sometimes this is because a company is growing ,sometimes a company needs to down-size and other times identify a need to restructure in order to better achieve their goals. Several steps are as follows 1.Gaining the support of those in your organization 2.Communicationg openly as much as possible 3.Modeling a positive response to the desires change.
  5. Integrating Coaching:- • Integral Coaching is an on-going, evolving methodology intended to be the most comprehensive response to human life. • Coaching means many things to many people. Many times a certain technique that is referred to as “coaching” isn’t really coaching at all; it’s actually counseling or feedback. WHAT DO WE MEAN BY COACHING? • In the most straightforward terms, coaching means building someone’s competence to better face their life circumstances. Practically speaking, successful coaching leaves people with the following outcomes. • In action, this means coaches understand their clients with great depth and scope, converse with them in a way that opens up insights and possibilities, and offer a path forward that includes activities custom-designed for them.
  6. 5 Steps to Integrating Coaching into Your Talent Management Strategy 1. Educate your leaders. Start at the top and educate your executives on the differences and benefits of coaching versus counseling. Interview them on their perspectives on coaching and assess their willingness to participate in and support a coaching initiative. Explain the benefits of coaching and ask them where they see applications for coaching inside the organization.
  7. 2. Identify coaches, participants and executive sponsors. Look for individuals and managers who can be trained to become internal coaches inside your company. These individuals may be inside your talent management and organizational development areas. Consider having talent management or human resources executives trained and credentialed by the International Coach Federation as professional coaches. 3. Manage expectations. Be sure to clearly set expectations with your internal coaches, individuals being coached, the executive sponsors and, of course, your managers and colleagues. It is best to run the initial program as a pilot and build upon its success. Make certain everyone is clear on the goals of the program, the time commitment, and their roles and responsibilities.
  8. 4. Train. En-roll your internal coach candidates in a coach-training program ensure they’re being coached by someone with experience coaching internal coaches. In addition, be sure to train the individuals who are to be coached on the role and responsibilities of the participant. While training your coaches, be sure to establish a clear and consistent process for enrolling clients, coaching time and exiting clients. The key here is to ensure that everyone participating has a similar experience.
  9. 5. Measure success. Prior to starting the program, determine how you will measure its success. It may be done simply by using a net promoter score or setting up a simple impact study. It doesn’t have to be a rigorous measurement such as a return on investment. If your program is embraced and utilized (meaning that coaching clients show up and participate in the coaching), then that’s a great sign. Interviewing them or surveying them on the benefits they received once the coaching is completed is also an excellent idea. In addition, be sure to ask the managers of the program’s participants about the changes they may have noticed in their employees’ behaviours after being coached.
  10. Employee Retention Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time.
  11. Why do Employees Leave ? • The employee’s decision to leave begins with a sense of low job satisfaction. – Job satisfaction represents a person’s emotional feelings about his or her work. When work is consistent with employees’ values and needs, job satisfaction is likely to be high.
  12. Need & Importance of Employee Retention • Hiring is not an easy process • An organization invests time and money in grooming an individual and make him ready to work and understand the corporate culture. • When an individual resigns from his present organization, it is more likely that he would join the competitors • The employees working for a longer period of time are more familiar with the company’s policies, guidelines and thus they adjust better • It has been observed that individuals sticking to an organization for a longer span are more loyal towards the management and the organization.
  13. Employee Retention Strategies • The company’s rules and regulations should be made to benefit the employees. • Performance appraisals are also important for an employee to stay motivated and avoid looking for a change. • Employee recognition is one of the most important factors which go a long way in retaining employees. • The responsibilities must be delegated according to the individual’s specialization and interests.
  14. Challenges in Employee Retention • Monetary dissatisfaction is one of the major reasons for an employee to look for a change. • In the current scenario, where there is no dearth of opportunities, stopping people to look for a change is a big challenge. • Individuals speak all kind of lies during interviews to get a job. • Some individuals have a tendency to get bored in a short span of time. • Unrealistic expectations from the job also lead to employees looking for a change.
  15. Employee motivation • Employee motivation is the level of energy, commitment, and creativity that a company's workers bring to their jobs. Whether the economy is growing or shrinking, finding ways to motivate employees is always a management concern. Competing theories stress either incentives or employee involvement (empowerment).
  16. HOW TO MOTIVATE EMPLOYEES? Organizational factors –  salaries / wages  Promotions  Company policies Work environment –  Supervisory style  Work group  Working conditions  Role specification and job description  Personal factors –age / seniority / tenure / expertise
  17. EXTRINSIC MOTIVATION This is a type of motivation that is induced by external factors that are mostly financial in nature . Money is the most important motivator and it can be in the form of pay / retirement plans / stock sharing options or paid vacation etc.
  18. INTRINSIC MOTIVATION • This type of motivation is achieved by the sense of achievement and accomplishment or in other words it is the state of self actualization . • In this the satisfaction is accomplished and motivation is self generated free of financial rewards.
  19. Why Employee Engagement? An engaged employee is aware of business context, and works with colleagues to improve the job performance for the benefit of the organization Defined as the level of commitment and involvement an employee has towards their organization and values Engagement is closely related to job involvement and flow
  20. Categories of employee engagement Actively Engaged Actively disengaged Not engaged
  21. Actively Engaged Known as the builders Realize their role expectations and strive to meet and exceed them Perform consistently at high levels Passion, innovation at work are some of their traits
  22. Not Engaged Concentrates more on the tasks rather than goals and outcomes Tends to feel that their contribution is being overlooked and their potential is not being tapped An unproductive relationship with managers or co- workers exist
  23. Actively Disengaged Cave dwellers and are “virtually against everything” Being unhappy at work they sow seeds of negativity at every opportunity Undermine the accomplishments of engaged coworkers Cause great damage to an organizations functioning
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