In today’s job market, retaining key talent is more important than ever. Learning is an integral part of the employee lifecycle from hire to retire and providing growth opportunities to your workforce throughout this cycle increases overall retention. Come learn about how injecting learning into recruitment, onboarding, and ongoing skill and career development will increase your overall retention numbers. In this session, you’ll: Understand how employee engagement increases retention Learn how targeted programs can help you maintain a skilled workforce Find ways to get “tribal knowledge” back into the system

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Frequently Asked Questions

5. Talent Retention
through Learning
Jim Poisson, Sr. Director of Product Management | May 2019
Rob Kime, Director of Product Management | May 2019

6. 66
Agenda
HR Challenges
Why a Learning Centric HR Strategy?
Takeaways

7. HR Challenges

8. 88
HR Strategy at the Speed of Business
Global Trends Impacting HR and Business Strategy
• Labor shortage/skills gaps
• Impact of automation
• Changing expectations of the workforce
• Digital transformation/new job categories emerging
• Business sustainability
Talent Development is Critical to Business Growth & Success

9. 99

10. Why Learning
Matters? Over
Half
of your managers and employees
are actively looking for a new job
78%
would remain longer if they
saw a career path within your company
71%
of employees state that opportunities for
development are the most critical factor in
staying w/ organization

11. Fact:
59% Growth in Revenue per employee
when companies engage & develop
their workforce.
Deliver individualised development to
optimise the performance of people,
and you’ll find measurable business
results along the way.

12. 1212
Make People Development Your #1 Priority
30%
Companies replaced on Dow
Jones Industrial Average
since 2005
(source: DJIA)
70%
Global 1000 companies that
address Talent Management
strategies on investor calls
(source: Bersin)
50%
Jobs that are susceptible to
automation from AI already
in the market
(source: McKinsey)

13. 1313
Who is in your workforce and what do they expect?
Baby Boomers
1946-1964
• Retiring in significant
numbers
• Strong work ethic
• Organization loyal
• Prefer face-to-face
communications
Gen X
1965-1979
• Define success through
title/position
• Independent
• Value diversity
• Lack organizational
loyalty
Millennials
1980-1995
• Technology literate
• Distrust traditional
hierarchy
• Value flexibility &
control
• Little/no organizational
loyalty
Gen Z
1996-2012
• Entering workforce
• Technically integrated
• Global
• Desire flexibility
• Low Org loyalty
• Fiscally conservative
75% of
Workforce
by 2025

14. 1414
Historic Labor Shortage
Source: US Bureau of Labor Statistics

15. 1515
Historic Labor Shortage
Source: US Bureau of Labor Statistics U

16. 1616
Would you say that your organization has an
Effective L&D program?
• Not at all
• Somewhat
• It’s good
• Absolutely great
• World class
Quick Poll

17. Why a Learning Centric HR Strategy?

18. 1818
Millennials
• Gallup finds that only 29% of millennials are engaged
at work
• Engagement indicates a deeper emotional and behavioral connection to a job
and company
• Gallup estimates that millennial turnover due to lack
of engagement costs the U.S. economy $30.5 billion
each year
• One major contributor to millennials' low employee
engagement may be poor or absent professional
and career development
Gallup https://www.gallup.com/workplace/235814/trends-disrupt-workplace-forever.aspx

19. 191919
Importance of Growth
Millennials Baby BoomersGen-Xers
59% 41%44%
“…opportunities to learn and grow are "extremely important" to them
when applying for a job.”
Gallup https://www.gallup.com/workplace/235814/trends-disrupt-workplace-forever.aspx

20. 2020

21. 2121
Goals for Learning Centric HR
Talent Development Objectives
1. Deliver the most productive employees
possible in their current role
2. Build a strong bench to address future
needs due to growth, turnover and/or
changes to strategic direction
3. Provide a growth path for each
employee to drive engagement and
retention
4. Transform learning from a series of
individual events to continuous
learning throughout an employee’s
tenure with the organization

22. 2222
Moving On
Retire or Leave
Succession Planning
Recruiting
Advancement
Career Growth
Onboarding
360⁰ Feedback & Career Planning
Performance Management
Compensation Management
Mature in Role
High Performer
Curating and Sharing Content
Mentoring
Authoring SME Content
Succession Planning
Internal Mobility
First 100 Days
Growing Into Role
Development Plan
Career Pathing
Continuous Feedback
Talent Development: Lifecycle Learning Ecosystem
Learning & Development
Day 1
New Hire
Onboarding
Mentoring
Coaching

23. Takeaways

24. 2424
Learning Centric HR
• Many employees want to work for companies that support their
professional growth and career progression.
• Training enhances workforce engagement by satisfying
human beings’ innate need to grow, learn and take on new
challenges.
• Employee Benefit News reports that it costs 33% of a worker’s
annual salary to hire a replacement if that employee leaves..
• Plus indirect costs such as lost productivity, lost knowledge, &
time required to find a replacement.
“Study: Turnover Costs Employers $15,000 per Worker,” Valerie Bolden-Barrett, HRDive, August 11, 2017.

25. 2525
Employee Benefits
• Become more productive on the job
• Higher quality work more efficiently and safely
• They can also grow in their role
• Ready to take on new challenges
• Progress in their career path
• Build capabilities & expertise their organization needs

26. 2626
Organizational Benefits
• Unique opportunity to meet their exact skills shortages.
• Recent research by Deloitte shows that current employees can
develop the same skills as an external hire in 9-12 months at
one-sixth of the cost.
• Save resources, increase engagement, and preserve
company culture and knowledge with strong in-house talent
expansion strategies.
“Keynote speech –2018 Skillsoft Perspectives Conference.” Josh Bersin, April 12, 2018.

27. 2727

28. 2828
Opportunities
2 https://elearninginfographics.com/the-importance-of-informal-learning-infographic/
3 http://blog.matrixlms.com/informal-learning-happens-all-the-time-anywhere/
4 https://www.td.org/Publications/Blogs/Career-Development-Blog/2016/10/Finding-the-Value-in-Informal-Learning

29. “The fusion of learning and talent is inevitable, so it is incumbent on
(HR Leaders) to take steps to unify the two functions. As the interplay
between talent and learning gradually merge, and as the alignment to
the strategic agenda improves, workforce performance levels are
elevated and greater performance is achieved.”
CLO Magazine
Learning & Talent
Management Together

30. sumtotalsystems.com
linkedin.com/company/sumtotal-systems facebook.com/sumtotal.systems twitter.com/sumtotalsystems
U.S. and Canada: +1 352 264 2800 | U.K. and Europe: +44 (0) 1189 315 777 | Asia Pacific: +91 (0) 40 6695 0000
Jim Poisson, Senior Director of Product Management
Rob Kime, Director of Product Management
jim.poisson@sumtotalsystems.com
rob.kime@sumtotalsystems.com

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WELLBEING AT WORK: CREATING A MEANINGFUL
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