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“GAINING A COMPETITIVE ADVANTAGE THROUGH EMPLOYEE ENGAGEMENT AND RETENTION STRATEGIES” 1.

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Presentation on theme: "“GAINING A COMPETITIVE ADVANTAGE THROUGH EMPLOYEE ENGAGEMENT AND RETENTION STRATEGIES” 1."— Presentation transcript:

1 “GAINING A COMPETITIVE ADVANTAGE THROUGH EMPLOYEE ENGAGEMENT AND RETENTION STRATEGIES” 1

2 © CAPITAL iDEA Objective To have you think and act in new ways about maximizing engagement and performance and take at least one idea and implement it.

3 © CAPITAL iDEA Challenges of the New Economy  Do more with less  From Lean to dysfunctional  Need for more diverse skill set  Innovation  Empowerment  Change

4 4 When Did Google Go Live?  1996  1998  2000  Do Not Remember Life BG-- Before Google

5 iPhone 1.5 Billion People on internet Baby Boomer turn 65

6 6 Millennials Are Changing The Landscape Roughly speaking, Millennial Generation is defined as: Birth Date Current Age 28 11

7 © CAPITAL iDEA 2011 The Millennial Generation is currently 25% of the workforce ……. ……..and is projected to be 47% of the workforce by

8 © CAPITAL iDEA What’s The Answer To Maximize Performance? Get the right people in the right jobs engaged in the right work

9 © CAPITAL iDEA 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

10 © CAPITAL iDEA What is the Impact of Engagement? Recent Gallup Study  22% of US workforce engaged  66% not engaged  11% disengaged $300B - $350B/yr problem

11 © CAPITAL iDEA Five Areas of Engagement  Hiring & Selection  Onboarding  Communication  Accountability  Recognition

12 © CAPITAL iDEA 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

13 © CAPITAL iDEA 2011 Start With Job Benchmarking JOB Motivators Behaviors Capacities Skills

14 © CAPITAL iDEA 2011 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

15 © 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

16 © CAPITAL iDEA 2011 Interviewing For Retention Behavioral interview to predict performance The more recent and longstanding the behavior the greater its predictive power

17 © CAPITAL iDEA What Is Onboarding? Onboarding – the enculturation of an employee (new to company or new to position)

18 © CAPITAL iDEA 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

19 © CAPITAL iDEA 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

20 © CAPITAL iDEA 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

21 © CAPITAL iDEA Onboarding mistakes  Too much material too soon  Boring  Not consistent  Throw ’em in the fire/sink or swim

22 © CAPITAL iDEA What To Communicate For Engagement  Strategy and direction  Organizational results  Department results  Recognition and appreciation  Organizational news

23 © CAPITAL iDEA Why Accountability  When performance gets measured, performance improves  When performance gets measured and reported back, the rate of improvement accelerates

24 © CAPITAL iDEA Why Accountability  When performance gets measured and reported back by the performer, the rate of improvement accelerates in dramatic proportion

25 © CAPITAL iDEA 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

26 © CAPITAL iDEA Guidelines For Recognition  Attach recognition to real goals and objectives  Fairness  Have real criteria to achieve recognition

27 © CAPITAL iDEA 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

28 28 Recognition and Engagement

29 29 Contact Information Andre Boykin Shari Roth (954)


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