It is unfortunately inevitable for every company to be losing employees over time. Some of these employees may be the best out there but may have simply stalled so require a new challenge. While every boss would like to retain the very best, great talent management involves letting go when the time is right. Disengaged employees are often a cause of reduced productivity. A report generated by marketing research firm Gartner clearly claims that engaged employees are worth 17% more in terms of productivity and 21% higher with regards to profitability. All professionals remain at some sort of a learning curve. Whenever this learning curve flattens out, inevitably some employees will depart.

Source:https://hbr.org/2018/04/how-to-lose-your-best-employees

Uploaded Date:29 January 2020

Abraham Maslow’s famous pyramid in the Hierarchy of Needs theory is considered a central principle in companies’ battle for talent management and retention. However, this pyramid was drawn up many decades back, at a time when most of the workforce was engaged in manufacturing. Today, this has become less relevant as companies are battling it out to be rated as the best places to work, as such ratings in turn have generally led to much improved productivity levels. This is why there is a need for a new such scale, so three parameters were found to be most important today being- Career, Community and Cause. A detailed study was conducted on Facebook to deduce the importance of these terms across diverse backgrounds. Contrary to popular perception, Millennials were not as enthused about the cause part as those above fifty-five years of age were. Trends are similar if one compares against location across the world or even within North America in particular. There is some variation when compared among professions, with tech employees generally less concerned about cause and business pros most concerned about their careers.

Source:https://hbr.org/2018/02/people-want-3-things-from-work-but-most-companies-are-built-around-only-one?utm_medium=social&utm_campaign=hbr&utm_source=facebook

Uploaded Date:29 January 2020

It is common at corporates and in boardrooms to see grown- ups throw a fit and react badly to criticism. Often they are loathe to admit their mistakes, so end up in the equivalent of tears. A simple, yet effective way to deal with this is to first understand the problem, to get in to the root of it. Then one needs to work on solutions, about what has then to be done. This is followed by an offer of help. Often the help may involve external management consulting agencies’ interventions. A one- time intervention may also create an impact for later on. Expressing support and clarity works much better than do frustration or disappointment.

Source:https://hbr.org/2015/10/a-simple-formula-for-changing-our-behavior?utm_medium=social&utm_campaign=hbr&utm_source=twitter

Uploaded Date:28 January 2020

While planning the bigger picture, one often tends to ignore the intricate details. This is also true for organizations. They are often guilty of drafting ambitious corporate strategy documents, without paying due attention to the processes that will ensure the success of their plans. Some steps have thus been identified, which if followed rightly, will lead to the bigger goals getting achieved, while also not compromising on the operational processes. To start off, small micro- habits need to be identified, which have become a part of the routine. One needs also to piggyback on some daily task. One’s own progress has to be tracked using numbers. This routine needs to remain steady for enough time. In case tracking accountability gets difficult, one mustn’t hesitate in seeking assistance for the same.

Source:https://hbr.org/2020/01/to-achieve-big-goals-start-with-small-habits?utm_medium=social&utm_source=facebook&utm_campaign=hbr

Uploaded Date:28 January 2020

Making change happen to an organization, is not merely a matter of willpower. Instead, some real interventions are required. Enthusiasm needs to be whipped up for the change, to ensure mass advocacy for the same. Social media and other similar internal digital marketing initiatives can be the right tools to deploy the mechanism. On the ground, the efforts have to be more intense. They need to focus on habits, and uncovering innate behaviours. A lot of change initiatives fail, because those on top, look disdainfully upon existing habits. A study clearly pointed out that a little more than two- fifths of our daily actions, are determined by pre- existing habits. These habits are automated, beyond the control of conscious awareness.

Source:https://www.strategy-business.com/blog/Making-Change-Is-Not-a-Matter-of-Willpower?gko=d439b

Uploaded Date:27 December 2019

Several companies, especially those engaged in the services, are constantly facing the pressure on employee turnover. In order to rectify this situation, there are four elements, where the respective companies need to work on. The first step is during the talent recruitment phase. Here, referrals from friends and family must be incentivized. Next is to work on the onboarding process. Thirty- day and sixty- day checklists will need to be prepared in order to smoothen this activity. The third element is in corporate training. This is not just important to new hires, but perhaps even more so with older hands, who constantly require reskilling initiatives. And finally, engagement has to be worked on. This is about empowering frontline managers to take decisions, and be able to communicate their insights gathered, up the chain.

Source:https://www.strategy-business.com/article/The-remedy-for-high-turnover?gko=46566

Uploaded Date:27 December 2019

A new approach that puts greater focus on data, is now being deployed to the field of recruitment. A report submitted by McKinsey in 2018, clearly confirmed that companies that hire more diverse talent, are more likely to outperform their peers, who do not follow such means. As a result, companies are being forced to rethink their talent recruitment strategies. These companies have clearly realized that data arms them with the best tool to manage this realignment. Lack of awareness and limited contacts within one’s specific industry are often ascribed as the key obstacles towards realigning the company’s recruitment strategy. In order to translate this data in to action, one needs to start by improving accessibility. Enhancing awareness has to be the next step. Systems need to be put in place that will boost the overall accountability levels. The Jopwell and PGA of America are two such organizations that were aligned wrongly, but now deploying data- driven business analytics to rectify the situation.

Source:https://hbr.org/2019/12/why-isnt-your-organization-isnt-hiring-diverse-talent?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist_activesubs&utm_content=signinnudge&referral=00202&deliveryName=DM59604

Uploaded Date:27 December 2019