1、RETENTION,The Core Of Companys Talent Strategy,Presentation for 51Job HR Forum, 2002,Roy Gao, Senior Director Human Resources, BMS China,Supply Vs. Demand,Supply China does not have adequate pool of talent, as China did not have business education till 8-10 years ago. The education system was scienc
2、e and engineering based.Since the reform started, there are currently 64 universities which are allowed to offer MBA courses, there are only about 20,000 graduates over the past 10 years,Demand There are about 400,000 FIEs inChina20 companies have to share 1 MBA,Talents,Talent War,How Many Years is
3、Appropriate To Stay in the Same Company,Executive Promoted From Within the Company Tends to be More Stable,(US 17,800,000),Direct Costs Associated with 2000 Staffing,Its Costly to Staffing ( US Example ),More Importantly, Retention of Good Talent Gives the Enterprises Continuity and Enhanced Product
4、ivity,Reasons of Employee Turnover,Career DevelopmentCompensationManager QualityCompany PoliticsWorking Environment.,Which one is more important.,Manager Quality,“Research tells us that people leave managers, not companies.,So much money has been thrown at the challenge of keeping good people - in t
5、he form of better pay, better perks and better training - when, in the end, turnover is mostly a manager issue.,If you have a turnover problem, look first to your managers”.,6 Key Points in Talent Retention,1. Make retention of good talent a business strategy. Understandthe link between Retention an
6、d business results2. Make managers accountable for their staff retention, linkmanagers reward to retention rate3. HR shall know the pulse of the organization. Try to establishpersonal relationship with key individuals4. Retention solution is different from one individual to another,therefore underst
7、and each key individuals needs is criticalto retention5. Though retention solution varies, the spirit is the same:Passion for talentCaring about talent6. A lot of times, it is easy to cure a disease if it is diagnosed early.Its more important to spot the departure risk early on,Retention Process Ste
8、ps & Tools,Step One: A) Identify most critical employees to retain(Tool: Decision Criteria)B) Assess turnover risk (Tool: Risk Assessment Quiz)C) Retention matrix(Tool: 3x3 Matrix Assessment)Step Two: Engage employee and develop specific action plans(Tool: Recommend questions for employeediscussions
9、)(Tool: Retention Action Plan document)Step Three: Review plans and follow-up,Decision Criteria Tool: Highest performer(s) in role. Role is critical to the success of BMS. Employee possesses a unique skill set or technical expertise that no one else has. The skill would be difficult to replace. Empl
10、oyee is a role model for other employees and an influential leader.,Step 1A): Identifying the Most Critical Employees,Step 1B):Employee Risk Assessment ( To be completed by managers ),Manager - Does this employee have a strong working relationship with you? - Have you provided the employee with spec
11、ific job/career feedbackduring the last 60 days? - Do you spend quality time with this employee to support them intheir job? - Have you spent time in the last 60 days talking to this employeeabout the current company situation?Current Role/Work Life Balance - Is the employee in a role they desire? -
12、 Does their current role provide them challenging work? - Does theemployee have adequate resources and time to do their job? - Does the employee have a good balance between work andpersonal time?,Yes No,Retention Elements,Step 1B):Employee Risk Assessment ( To be completed by managers )- Cont,Retent
13、ion Elements,Professional/Career Development - Does the employees current career progression and potential align with their stated career objectives (Career Dialogue)? - Has the employee been promoted or taken on additionalresponsibilities during the last two years? - Is the employee acquiring new s
14、kills and knowledge in their role? - Does the employee have a mentor and/or strong ties with othersin the organization?Compensation/Rewards/Recognition - Would this employee have difficulty leaving the organization to take a higher paying role with another organization? - Has the employee recently e
15、xpressed dissatisfaction with theirpay? - Has the employee been recognized for their performance(Presidents Award, Spot Award, public acknowledgement,exposure to senior leaders, other) during the past year?,Yes No,Step 1C): Manager Assessment - 3x3 Matrix Tool,Employee Criticality/Risk Matrix,Low Me
16、dium High,High,Medium,Low,Employee Criticality To BMS,Assessment Steps: 1 - Conduct Employee Criticality 2 - Conduct Risk of Departure,Decision Criteria: Highest performer(s) in role. Role is critical to the success of BMS. Employee possesses unique skills / technical expertise that are difficult to
17、 replace. Employee is a role model / influential leader.,Decision Criteria: Manager Current role, work life balance Professional/career development Compensation / reward / recognition,Risk of Departure,Step 2: Recommended Questions for Employee Discussions,Manager How do you feel about the current c
18、hallenges for BMS? What are your biggest concerns? Are you receiving enough time, feedback and coaching from me? What can I do to support you better? What information have we not covered that is important to you?Job, Work/Life Balance Is your current role challenging? Do you feel you have adequate r
19、esources and time to manage your role? What questions do your family and friends ask you (about BMS)?,Step 2: Recommended Questions for Employee Discussions - Cont,Professional/Career DevelopmentDo you feel you are successfully tracking to meet your career objective (as discussed in Career Dialogue)
20、?Do you feel that you are developing new skills and acquiring new knowledge in your role?Are you getting enough exposure to individuals and key leaders outside of our group? Do you feel you have sponsorship in BMS?Compensation/RewardsDo you feel your contributions to BMS are valued?Are we recognizin
21、g your contribution in a way that you personally value?Do you feel you are fairly compensated within BMS, and competitively in the marketplace (if not, why not)?,Current InformationManager: Last Career Dialogue 3/02. Weekly 1:1 since 1/02.Work/Life Balance: Employee working 60-65 hour weeks. Cannot
22、relocate but can travel up to 50%, interested in assignments in metro NJ/NY area and/or specialassignments to support BMS business needs.Professional/Career Development: More exposure to finishing and bulk operations. Involvement in global technical operations special projects. More exposure to proj
23、ects outside of Tech Ops.Compensation/Rewards/Recognition: 7/4/00 - Promotion from D6 to D7 10% promo increase. 2001 Option Grant “A” award 3000 shares granted. 2002 Option Grant - 5,000 compared to 3,000 for similarlysituated peers. 7/1/02 - Merit base salary increase 6%.,Proposed ActionsUpdate Car
24、eer Dialogue by 6/1. Review goals and objectives and update ifneeded by 6/1.Hold work redesign/workout discussion surrounding work/life balance: - New ways to do work- Prioritize work- Target 50 hours per week Employee can gain meaningful development through travel to sites and in NJ area.Will provi
25、de desired developmental requests in 2002/2003 with temporary assignments inSyracuse and Evansville and allowingemployee to have a key role in next globalsupply chain project.Employees total compensation is aligned with D7 similarly situated peers; therefore,no additional compensation action isrecom
26、mended. Identify opportunities to recognize employeefor performance (meetings, Spot Awards,etc.),AccountabilityManagerManager/HR GeneralistOne over Manager/Senior LeadersManager,SAMPLE,Employee: _,Step 2: Retention Action Plan Document,Managers and HR review (3x3) assessments by employee category an
27、d agree on most critical employees and individual action plans.Manager reviews 3x3 and plans with one over manager for calibration/input: prioritize and establish goals for most critical employees and all employees review/finalize action plans for most critical employees review timing of actionsReview monthly: Success of action planning activities Track Attrition of most critical employees Re-assess “at risk employees” as needed Lessons learned,Step 3: Review and Follow-Up,The Descending Sales Employee Turnover Rate,The Climbing Business Performance,
