Download as PDF, PPTX
Uploaded byHuman Capital Media
TALENT RETENTION THROUGH LEARNING
The webinar focuses on the importance of a learning-centric HR strategy to enhance talent retention and employee engagement in the face of global trends such as labor shortages and automation. It emphasizes the necessity of professional development opportunities for employees, particularly millennials, to reduce turnover and improve business outcomes. The presentation also outlines objectives for talent development and the organizational benefits of investing in employee growth.
More Related Content
Similar to TALENT RETENTION THROUGH LEARNING
TALENT RETENTION THROUGH LEARNING
- 1. #WFwebinar The presentation willbegin at the top of the hour. A dial in number will not be provided. Listen to today’s webinar using your computer’s speakers or headphones. Welcome to the webinar!
- 2. #WFwebinar Tools YouCan Use Audio Control – A dial in number will not be provided. – Adjust the volume on your computer or headphones
- 3. #WFwebinar Questions and Handouts Youcan submit questions by clicking on this icon here. You can download a PDF of the slide deck by clicking here.
- 4. #WFwebinar 1. MayI receive a copy of the slides? YES! Click on the handouts list located on the right portion of your screen. 2. May I review the webinar recording at a later date? YES! You may log in again using today’s link to review the presentation on-demand. 3. Is this webinar HRCI or SHRM certified? YES! The HRCI and SHRM certification codes will be sent in the same follow up email as the recording Frequently Asked Questions
- 5. Talent Retention through Learning JimPoisson, Sr. Director of Product Management | May 2019 Rob Kime, Director of Product Management | May 2019
- 6. 66 Agenda HR Challenges Why aLearning Centric HR Strategy? Takeaways
- 7.
- 8. 88 HR Strategy atthe 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.
- 10. Why Learning Matters? Over Half ofyour 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 inRevenue 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 DevelopmentYour #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 inyour 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 saythat your organization has an Effective L&D program? • Not at all • Somewhat • It’s good • Absolutely great • World class Quick Poll
- 17. Why a LearningCentric HR Strategy?
- 18. 1818 Millennials • Gallup findsthat 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 MillennialsBaby 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.
- 21. 2121 Goals for LearningCentric 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 orLeave 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.
- 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 moreproductive 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 • Uniqueopportunity 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.
- 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/ 4https://www.td.org/Publications/Blogs/Career-Development-Blog/2016/10/Finding-the-Value-in-Informal-Learning
- 29. “The fusion oflearning 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
- 31. #WFwebinar Register for the next webinar! WELLBEING ATWORK: CREATING A MEANINGFUL EMPLOYEE EXPERIENCE Tuesday, June 4, 2019 Webinars start at 12 p.m. Eastern / 9 a.m. Pacific Register for all upcoming Workforce Webinars at workforce.com/webinars