Hire Minds Assess Presentation _Employee retention
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Transcript of Hire Minds Assess Presentation _Employee retention
Retaining and Engaging Talent a Competitive Difference No Matter What the Economic Climate
Hire Minds Summit 2010JoAnn McMillan, Ph.D.
Who We Are
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•Innovative software and I/O psychology consulting firm
•Focus on Talent Selection & People Development
•Off-the-shelf and fully customized assessment solutions
•Clients across industries, from start-ups to Fortune 500
•SnagAJob assessment partner
Some Sobering Statistics
Bureau of Labor Statistics• National unemployment rate is
9.5%
Job Openings and Labor Turnover Report – June 2010
• The job openings rate was 2.2 percent.
• Employers made 3.8 million hires in June—about a third less than in July 2006.
• The quit rate—a sign of workers' "willingness or ability to change jobs"—remained very low at 1.4 percent.
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Some Glimmers of Hope on the Horizon
In H1 2010 Hires did Exceed Separations
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Impact of Slow Churn on HR
With few openings you need to make every new hire count • Poor hires hurt your business results• Good hires outperform even in tough times• Turnover is costly no matter what the economic climate
Just because they are staying doesn’t mean they haven’t mentally “quit”• What is the difference in productivity of your most engaged employee compared
with your least engaged employee?• How many of your current employees have “quit and stayed?”
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“Your hiring process should not only focus on avoiding bad hires but seeking those true top performers”
The Value of A Good Hire
Putting the right person in the right job makes business sense
• Higher performance• From start
• Continues over time
• Shorter ramp-up time• Easier to manage• Increased customer satisfaction• More likely to stay
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The What, How & Why of Talent
What are the desired outcomes for this role?• Customer• Process • Productivity/Financial• People
How do your best people achieve these results?
• Define the behaviors and competencies that lead to success in your environment
Why are some people more successful than others?
• Possess the right combination of innate and learned capabilities for the role
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Retail ROI: Better Business Results
Managers who are the best fit for the role create positive business results:
Team LeadershipGood JudgmentPersuasivenessPositive Sales AttitudeEnergyOrganization /Attention to DetailFrustration Tolerance
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-5
0
5
10
15
20
Avoid
Okay
Good
Better
Store ManagersStore Performance: Percent Store Goal
Achieved
Retail ROI: Improved SalesBusiness Impact Continues Over Time
Month after month, retail sales associates who had the right talent (shown in green) outperformed those who lacked the “right stuff” (shown in red)
Positive Sales AttitudePersuasivenessEnergyInitiativeGood JudgmentFrustration Tolerance
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C-store ROI: Better Customer ExperienceC-store associates with service personalities create more positive customer experiences
EnergyFrustration ToleranceAccommodation to OthersAcceptance of DiversityPositive Service AttitudeSelf Control
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3.30
3.40
3.50
3.60
3.70
3.80
3.90
4.00
4.10
4.20
4.30
Customer Service Overall Performance
3.79
3.62
4.22
4.02
Avoid
OK
Best
**All cut levels were statistically significant at p.<01
Customer Service EmployeesPerformance Ratings
Hospitality ROI – Increase Quality of Hire
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
80%
27%
20%
73%
Avoid
Best
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Assessment identified 80% of Poor performers as “Avoid” and 73% of Star performers as “Best”
Poor Hires Star Hires
C-Store Retention – Decreased Turnover Those that fit the role stay longer
• In a five year study (pre-recession) of c-store associates, new hires (who fit the job better) stayed longer
• Selection process evaluated both natural fit with the role andwillingness to do common job tasks
• Make change & handle money
• Serve food
• Stock merchandise
• Mop & sweep inside
• Pick up trash outside
• Clean the restroom
Best Practices In Selection
Each voice in the selection process should evaluate the candidate’s “fit” with the job.
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Hiring DecisionHiring Decision
Dynamic InterviewDynamic Interview
Application & Pre-ScreenApplication & Pre-Screen
Recruitment MessageRecruitment Message
AssessmentAssessment
But The Work Doesn’t Stop When The Hiring Decision Is Made
That’s when the real work begins
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On-boarding and Engagement
On-boarding and Engagement
Hiring Decision
Dynamic Interview
Application & Pre-Screen
Recruitment Message
Assessment
On-boarding Three Strikes and They are Out (of There)
Job Orientation – Be prepared. Clearly state expectations about the job, and provide the “tools” needed to succeed.
Follow Through on Commitments – Ensure that you “walk the talk” and do what you say you are going to do .
Socialization – Help new employees get to know other people and the company.
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Questions to Ask New Employees*
• How well do we compare to what we said we would be like?
• Tell me what you like. What is going well?
• What employees have been helpful to you in your first 30 days?
• I noticed you came to us from ____. Are there things you did there that might be helpful to us?
• (Is there anyone you know who might be a valuable addition to our team?”
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*From “The Honeymoon Quiz: Five Questions to Ask New Hires in the First 90 days.” 2010 The Studer Group
Poll – Employee Engagement
What percentage of your employees, new and tenured, do you feel are giving 100% of their talent, passion and commitment to the job?
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Attitudes About Engagement
Do you view the employee as an expense or the employee as an asset?
From Franklin Covey: “Leadership in the 21st Century”
Covey’s Levels of Engagement
Today’s Worker has the “Power to Choose”
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From Franklin Covey: “Leadership in the 21st Century”
Zenger-Folkman’s Sweet Spot
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Organizational Needs:
The activities you need the person to do
that support the organization’s success
Competence: What the person does well
Passion:
What the person likes to do
CompetenceCompetence
OrganizationalNeeds
OrganizationalNeeds
PassionPassion
From “The Extraordinary Leader: Turning Good Managers Into Great Leaders”by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies
The Employee Sweet Spot
The motivational “sweet spot” is achieved when you can help an individual to align their passion and their competence with the requirements of the job.
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From “The Extraordinary Leader: Turning Good Managers Into Great Leaders”by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies
Convergence
Finding Their Sweet Spot: Organizational Needs
Understanding of how personal job role
helps fulfill company mission, vision
and business objectives
Orientation or tour of the overall operation
(not just their piece)
Clear expectations regarding the job - what
“good” looks like
If they have a back room role have them
job shadow a customer interaction
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Finding Their Sweet Spot: Competence
Increasing job autonomy
New projects and responsibilities; on-the-job learning opportunities
Providing the proper tools to effectively do their jobs
Involvement in decision making and access to sharing ideas with management(e.g. Joint Leadership Teams)
Supervisor and team support for job success (acknowledge achievements)
Shadowing and mentoring opportunities
Educational assistance and other training support
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Finding Their Sweet Spot: Passion
Appreciation and support for outside
talents
Or, bring their talent into the
workplace
Flexible work approaches to support
outside needs
Volunteer opportunities through the
organization
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Additional Thoughts for Engaging the Hourly Workforce
A work-life culture that is more supportive of personal and family life
GovBenefits.gov – extensive resources for citizens to locate public-sector benefits
Reduce barriers between corporate and the field
Make the workplace “fun”
Career navigation and job search skills assistance
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The Engaged Employee
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From “The Extraordinary Leader: Turning Good Managers Into Great Leaders”by John H. Zenger and Joseph Folkman, published by the McGraw-Hill Companies
Achieving Success Through Others
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Great Companies ….
•Attract and Select Top Talent
•On-board effectively
•Engage employees through flexibility, empowerment, respect and appreciation