“gaining a competitive advantage through employee engagement and retention strategies” 1
TRANSCRIPT
“GAINING A COMPETITIVE ADVANTAGE THROUGH EMPLOYEE ENGAGEMENT ANDRETENTION STRATEGIES”
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© CAPITAL iDEA 2011
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Objective
To have you think and act in new
ways about maximizing
engagement and performance and
take at least one idea and
implement it.
© CAPITAL iDEA 2011
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Challenges of the New Economy
Do more with less From Lean to dysfunctional
Need for more diverse skill set
Innovation
Empowerment
Change
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When Did Google Go Live?
1996 1998 2000 Do Not Remember Life BG--
Before Google
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
iPhone1.5 Billion People on internet
Baby Boomer turn 65
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Millennials Are Changing The Landscape
Roughly speaking,Millennial Generation is defined as:
< >Birth Date1982 2000
< >Current Age 28 11
© CAPITAL iDEA 2011
The Millennial Generation is
currently 25% of the workforce …….
……..and is projected to be 47% of
the workforce by 2014.
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What’s The Answer To Maximize Performance?
Get the right people in the
right jobs engaged in
the right work
© CAPITAL iDEA 2011
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What is Engagement
Emotional Component - how connected an employee is with the company
Motivational Component – how they will use discretionary effort to help the organization reach its goals
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What is the Impact of Engagement?
Recent Gallup Study 22% of US workforce engaged
66% not engaged
11% disengaged
$300B - $350B/yr problem
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Five Areas of Engagement
Hiring & Selection
Onboarding
Communication
Accountability
Recognition
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Five Questions To Answer Before Hiring
Can This Person Do the Job?
How will this person do the job?
Why will this person do the job?
Will this person do the job?
Will this person do the job here?
Skills
Behaviors
Motivators
Capacities
Culture
© CAPITAL iDEA 2011
Start With Job Benchmarking
JOB Motivators
Behaviors
Capacities
Skills
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Job Benchmarking Process
1. Indentify Job Tasks
2. Develop Key Accountabilities
3. Weight Each Accountability Area
4. Identify skills, attributes, and motivators
5. Develop Interview Questions
6. Determine Development Needs
© CAPITAL iDEA 2011
Why Use Assessments
Completely unbiased
Accurate and valid
High predictability of performance
Improve turnover and engagement
Increase productivity
33% of the selection process
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Interviewing For Retention
Behavioral interview to predict performance
The more recent and longstanding the behavior the greater its predictive power
© CAPITAL iDEA 2011
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What Is Onboarding?
Onboarding – the enculturation of
an employee (new to company or
new to position)
© CAPITAL iDEA 2011
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Why Onboarding?
According to research conducted by
the Aberdeen Group, 86% of new
hires make their decision to leave or
stay within the first 6 months. 4% on
the first day
© CAPITAL iDEA 2011
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Why Onboarding?
According to the same research, 89%
of new hires say they do not have the
optimum level of knowledge and
tools necessary to do their job
© CAPITAL iDEA 2011
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Goals For Onboarding Make feel welcome
Goals and objectives upfront – know how fit in organization
Tools needed are available right away
Not a one day event – up to three months – twelve months
© CAPITAL iDEA 2011
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Onboarding mistakes
Too much material too soon
Boring
Not consistent
Throw ’em in the fire/sink or swim
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What To Communicate For Engagement
Strategy and direction
Organizational results
Department results
Recognition and appreciation
Organizational news
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Why Accountability When performance gets measured,
performance improves
When performance gets measured and reported back, the rate of improvement accelerates
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Why Accountability
When performance gets measured and reported back by the performer, the rate of improvement accelerates in dramatic proportion
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Why Employee Recognition
According to research conducted by
SHRM, 79% of those who quit their
jobs cite lack of appreciation as one
of the main reasons
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Guidelines For Recognition Attach recognition to real goals and
objectives
Fairness
Have real criteria to achieve recognition
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Guidelines For Recognition
Not about the size of recognition
Make public make it a big deal
Doesn’t have to be elaborate – keep
it simple
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Recognition and Engagement
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Contact Information
Andre Boykin
Shari Roth
www.CAPITAL-iDEA.net
(954)-349-5828