Delivering Client Driven Solutions

1
Attracting, Selecting Retaining The Best
PeopleStaying a step ahead of your competition
Christopher Paterson Practice Leader Assessment
Development August 2007
2
State of the Market
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Looking Forward

• The Australian talent pool is shrinking
• In 2008, more people will leave the work force
  than enter it
• In the next decade, annual workforce growth will
  drop from 0.8 to 0.4
• 15 of Australias workforce is overseas - one of
  the highest proportions in the world 1

• Market forces impacting recruitment and
  retention
• A robust economy
• Low unemployment
• Changes from traditional work arrangements
  flexibility is key
• A sellers market in terms of REM and benefits

1 ABS
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Talking About Those Generations

• Dont over value the stereotypes
• Manage on an individual, not a generational level

Baby Boomers
Generation X
Generation Y
Silent Generation
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Attraction
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Attraction / Sourcing Channels

• Any sourcing approach needs to be multi channel
  and tailored to the role
• Traditional Channels
• Networking / referrals
• Advertising print and online
• Corporate Careers sites
• Recruitment Events
• Recruitment Firms
• Volume Projects (e.g. grads)
• Modern Channels
• Online networking Linkedin, Facebook, etc
• Proactive Talent Pipelines
• Alumni Programs
• Employment Branding Campaigns
• Onsite Recruitment
• Global Networks

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Attraction of Top Talent

• What matters to talented candidates?
• Values and culture 58
• Freedom autonomy 58
• Job challenges 51
• Effective management 50
• Career advancement growth 39
• Company challenges 38

• Lower priority attraction factors
• Geographic location 19
• Respect for lifestyle 14
• Fun with colleagues 11
• Job security 8
• Acceptable pace/stress 1

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Selection
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Selection The Full Picture
Clusters
Satisfaction / Capability Model
Technical Skills
Performance
Discipline Understanding Knowledge experience
Capability Demonstrated competencies
Potential
Attributes Behaviours that infer potential
Motivational Fit
Retention
Career Fit
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Assessment Statistics
The Facts - Rating the Tests
Assessment Method Assessment Centres Behavioural
interview Work sample tests Ability tests Modern
personality tests Biodata References Traditional
interviews
Accuracy 0.65 0.48 - 0.61 0.54 0.53 0.39 0.38 0.23
0.05 - 0.19
Source British Psychological Society/Accord Group
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Retention
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Why People Leave
11 Hudson research
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The Cost of a Bad Boss
58 of senior and mid-level managers reported
that they have worked for an underperformer. How
did this affect them?
76
Prevented me from learning
81
Hurt my career development
Prevented me from making a larger contribution
to the bottom line
82
86
Made me want to leave the company
9 - McKinseys War for Talent 2000 survey of
6,500 senior and midlevel managers at 35 large US
companies
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Why Do People Stay In Organisations?

• Career progression and opportunities
• Challenge and interest
• Strong leadership coaching behaviours
• Recognition and reward
• Formal on-boarding process
• Internal brand employee value proposition (EVP)

10 AHRI/ Australian Financial Review - Feb 2007
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Retaining Top Talent
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Targeted Retention Policy

• A targeted retention policy includes these
  elements
• Ensure endorsement from the Executive
• A manageable job (reasonable and achievable job
  expectations)
• Clear objectives - outputs
• Career management (internal development career
  planning)
• Coach training for leaders
• Freedom to balance work and life
• Identification of core employees (High
  Performance Potential)

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Outcomes for youA Checklist
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Ideas for Your Organisation A checklist

• Multi and proactive sourcing channels
• Internal referral program
• Defined Employment Brand (EVP)
• Rigorous and proven selection process
• Insist on behavioural / competency based
  interview questions
• Defined success profile for key roles
• Collect and analyse data - cultural vitality,
  pulse, 360 degree feedback, exit interviewsand
  ACT on them!
• Identify your retention red flags (by performance
  level)
• Know your core employees
• Coach training for leaders / managers
• Update leaders KPIs to include retention
• Ensure all staff have development goals

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Career Management
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Career Development Core Principles

• Shared responsibility Individual ownership /
  Business platform
• Managers are not mind readers
• Self knowledge is critical to success.
• People have different ambitions. Not everyone
  wants to climb the vertical ladder.
• Organisations need to establish a Career
  Management framework
• Employees need to understand the Career Paths
  that are open to them
• Competences and Role Descriptions need to be
  consistent, clearly articulated and appropriately
  aligned

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Career Drivers A quick exercise

• Material Rewards Seeking possessions, wealth and
  a high standard of living.
• Power/Influence Seeking to be in control of
  people and resources.
• Search for Meaning Seeking to do things that are
  believed to be valuable for their own sake.
• Expertise Seeking a high level of accomplishment
  in a special field.
• Creativity Seeking to innovate and be identified
  with original output.
• Affiliation Seeking nourishing relationships
  with others at work.
• Autonomy Seeking to be independent and able to
  make key decisions for oneself.
• Security Seeking a solid and predictable future.
• Status Seeking to be recognised, admired and
  respected by the community at large.

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Ideas for Your Organisation A checklist

• Ensure you have clearly defined job and
  competency profiles
• Development Goals Career Planning as part of
  the
• Performance Review
• Management training in Coaching and Performance
  Management
• Individual ownership for Career Development
• Clearly defined Career Pathways
• Celebrate Career Successes

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Thank you