Presentation on theme: "Attracting & Retaining Talent Dr Kamal K Jain Area Chair HR&OB IIM, Indore"— Presentation transcript:
Attracting & Retaining Talent Dr Kamal K Jain Area Chair HR&OB IIM, Indore Kamal@iimidr.ac.in
Attracting Talent The process of seeking and attracting a pool of people from which qualified candidates for job vacancies can be chosen.
We go the extra mile to find qualified, committed, diverse top talent. Many companies let the reputation of a school determine where they recruit. We believe there is talent everywhere and we want to find, attract and assess it. It could be you.
At P&G we hire from more than 100 schools in a typical year. While we have existing relationships, we’re continually developing ways to extend our reach to bring a truly diverse mix of students to the company each year. Innovative ways we attract top talent: Our scoreable application form, a patented breakthrough invention, allows us to successfully identify the most qualified candidates. Far ahead of its time, this concept is now being commercialized for sale to other companies while we power-up the next generation of assessment capability. We’re also reaching out to students through innovative online games, such as “Just In Case” P&G interactive case studies. These games simulate on-the-job decision-making needed to take a product to market, or cope with a competitive challenge and other business situations you might face as an employee. This new tool helps us find great talent in unexpected places. Plus, we’re developing other creative ways for students to experience P&G’s environment and show us their talent.
P&G is a company that believes in people power… "If you leave us our money, our buildings, and our brands, but take away our people, the Company will fail. But if you take away our money, our buildings, and our brands, but leave us our people, we can rebuild the whole thing in a decade." We'd like to believe that’s as true today as it was in 1947 when it was first said by one of our former CEO’s. P&G people are our greatest assets and recruiting is critical to our success, so we take it seriously—very seriously. Our recruiting organization: Expects results Measures performance Never lets the status quo dictate what we will do Develops and uses creative tools to find and identify the most qualified candidates Our process takes time and commitment, but we believe we owe it to people to really get to know them, understand their capabilities and give them a chance to know us as well.
There are limited opportunities for people with specific work experience to be hired "beyond entry level" if that expertise is not available internally. When these jobs become available, they are typically posted on our website or other job boards.
You’ll discover unlimited opportunities to grow. Our next CEO is already in the company and that holds true for all of our senior positions. Our current CEO, A.G. Lafley started his career as a Brand Assistant in Joy Dishwashing Liquid.
P&G’s different types of businesses under one roof offer a challenging and diverse career for the majority of our people. However, some of our people choose new opportunities. Did you know that many of today’s top ‘movers and shakers’ in many industries are former P&Ger’s. Check the P&G alumni site and find out what they’re doing now. P&G alumni site
Deadly Hiring Traps Reacting Unrealisitc Expectations Evaluating people in absolute terms Believing references “Just –like – me” bias Delegation gaffes Unstructured interview Ignoring emotional intelligence Political pressure
I look for three things in hiring people. The first is personal integrity, the second is intelligence, and the third is high energy level. But, if you don’t have the first, other two will kill you. Warren Buffet
Continuous retention A thoroughly engaging workplace, featuring collegiality, team work, fun, and most fundamentally, democratic participation Ample opportunity to learn and grow, including assignments that expand skills and the leeway and mobility to try one’s hand at variety of activities Attentive management, where the direct manager not only appreciates individual employees’ points of view but also attends to the employees’ needs and progress and explicitly encourages – and is accountable – for retention
Engaging workplace The thoroughly engaging workplace has six traits, namely three Ss – say, stake, and stimulus – and three Rs- responsibility, recognition, and respect. Consider GE capital’s under-thirty managers to advise senior management Continental airlines’ ‘no secrets’ management philosophy SEI Investments where no one – not even the CEO – has an office. Everyone sits in an open floor plan with all desk, chairs, and furniture on wheels
Young workers will simply not bide their time until conditions improve, as older ones would. They communicate with their feet and quit.
Opportunity to learn and grow When a tree is growing, you need to provide space. If you allow a tree to grow, the birds from job market will migrate to your organization. Allow them to migrate within your organization (job rotation will keep them excited about unknown)
Attentive Management Benign neglect just does not cut it with this workforce cohort. The problem may be more of omission, not commission.
So, what to do? Be available and communicative Include in decision making Provide quick and useful feedback and recognition Learn to relate to and respect younger workers Adjust approach to fit the needs and styles of young colleagues Serve as buffers between young employees and corporate bureaucracy What is your take on tying manager’s compensation to staff satisfaction and turnover rates?
Easy Return The best, most predictable, most already- trained source of talent is people you already know – people who once worked for you and left in good standing.
Several hundred of Microsoft employees returned who had left for start ups but faced dot- com crash. What it took for Microsoft – an occasional invitation and regular updates about the company.
Friendly farewell An easy return program should prompt departed employees to think and speak highly of the company and to entertain the possibility of returning. Remember, they are your brand ambassador to the job market, for good or bad. A personal invitation for lunch by the CEO or his representative.
Alumni Associations Show company’s ongoing interest in them and their careers. Look for life time affiliation if not life time employment. Consider firms like McKinsey and Bain. How do they benefit by being in touch? Many of them become their clients if not their employees. Try to see them in different roles – advocates, clients, business partners. Adjunct professor
Welcoming the ‘Boomerangs’ Celebrate people’s return. Gensler, a san Francisco – based firm has a remarkable boomerang rate of 12 percent. Returning employees are most loyal employees and best recruiters. The best developmental experience for a valued employee may happen outside the company. You capitalize on both – outside experience and the familiarity with your operations. Results can be breakthroughs in innovation, contribution, and career progression
Excelling in Retention To succeed at retaining employees, you can’t wait until they are unhappy and then to fire fight.
Retire Retirement It is not good business to push people out the door just because your policies say it’s time