Talent Management & Employee Retention More Critical Than Ever

Source: Herman Trend Alert

A recent study by the well-respected organization The Corporate Executive Board offers some sage advice for corporate leaders about how to successfully navigate the next year.

Speaking on MSNBC, Tom Monahan, Chairman and CEO of this unique peer-to-peer network, shared the results of their recent research. When asked which issues would be most challenging in 2009, 30 percent of the corporate leaders who responded answered “protecting growth initiatives”, 24 percent said “making critical talent plays”, 21 percent answered “exploiting risk opportunities”, and 17 percent replied “improving cost discipline”.

Overall, the suggested strategies highlight the need for leaders to change in five key areas. First, the report directs executives to “focus on product and services [expenditures] in their cost-cutting process, not just overhead cost, because that is where long-term competitive advantage lies”.

Second, leaders must be vigilant to “protect growth initiatives “. This strategy involves identifying and sheltering growth opportunities in the capital budget. In addition, the report suggests they integrate concrete innovation targets into performance expectations and reporting, even while belt-tightening”.

Third, leverage financial strengths. Foster innovations that target the shifting financial strengths of customers and suppliers.

Fourth, “exploit risk opportunities: embrace, don’t eradicate, “the right” risk exposures”.

Finally, and in our view most importantly, now is the time to “make critical talent plays”, “to court and cultivate tomorrow’s winners”. Take the opportunity to close critical skill gaps with less-occupied talent. Reward outstanding performance. “Use the economic crisis to sharpen the acumen of future executives.” “Embrace offshore centers as a source for critical skills and next-generation executive leadership, not just low-cost execution.”

The study also found that one in four top, high-performing employees expects to leave in next 12 months, up from one in 10 last year. Wise employers will use this downtime to re-engage employees with “stay interviews”, re-orientation, and special projects. This re-engagement will also reduce the five percent productivity loss that translates into about $100 Million in lost operating cash flow for the average company. Monahan closed his interview with an astute observation: “Companies playing offense on talent have a remarkable opportunity right now.”

Herman Trend Alerts are written by Joyce Gioia-Herman, a strategic

business futurist, Certified Management Consultant, author, and

professional speaker. Archived editions are posted at http://www.hermangroup.com/archive.html

Advertisements

Avoid Getting Laid Off | Transformational Leadership

Navigator #146

The Navigator is published by Greg Smith,
“Lead Navigator & Captain” of Chart Your Course International Inc.

You are recieving this newsletter in text only.

If you would like to recieve the color version and video version
of this newsletter, please subscribe at the bottom of any page
on my website. Or you can view this newsletter on our website:

Navigator Newsletter #146

See the bottom of this newsletter to subscribe or to unsubscribe.
#############################################
PERSONAL NOTE FROM THE CAPTAIN

I hope your new year is off to a great start! With reality
being what it is, let us hope the economy will start improving soon.

I am proud to introduce a new associate who is now
working with Chart Your Course International. As a
consultant, trainer, and professional problem solver,
Tangela Johnson has taught hundreds how to engage
their employees and stand out in the marketplace by
focusing on the key principles of leadership, communication,
and customer service. She provides guidance and
training to companies who are interested in productive
change and repositioning themselves for the future.
For more information please visit:

http://www.chartcourse.com/strategicpartners.html

I wish everyone a positive and happy new year!

Greg

#############################################
AVOID GETTING LAID OFF: HOW TO KEEP YOUR
HEAD OFF THE CHOPPING BLOCK

A reporter from the Washington Post asked me to answer
questions for a story they are working on this month. Visit my
Blog and provide your comment on my opinions.

Here is one of the questions:
Should an employee try to stand out or keep a low profile?

https://chartcourse.wordpress.com/
#############################################
HIRE THE RIGHT PEOPLE

A lot of people are looking for jobs. This means there are
many talented workers available. So, it is even more than
important you don’t make a hiring mistake. Explore how our
assessments can help insure you promote or hire the right
person for the right job.

http://www.chartcourse.com/Assessment_Center.html
#############################################
TRANSFORMATIONAL LEADERSHIP TELESEMINAR

We are continuing with Sessions 2 and 3 on January
15 and 22. We had over 300 people sign up for Session
1 in December. Even though we cannot offer these two
sessions for free, we have adjusted the cost for the
economic situation some of you may face.

http://www.chartcourse.com/Confirmation-Transformational_Leadership.html
#############################################
GREG’S VIDEO CLIPS ON YOUTUBE.COM

I have placed some of my best video clips on YouTube.com.
Do me a favor, and provide a star rating on your favorites.
If you don’t have a YouTube account, you maybe asked to open one.

http://www.youtube.com/user/greg19532
#############################################
AVOID STAGNATION: IMPROVING YOUR MANAGEMENT SKILLS

Many businesses have cut their training budgets. However, if
you want an economical and cost effective way to update your
supervisory skills, I suggest you look at our 14 different courses.
For as little as $49 per course, you can benefit greatly and show
your company you are doing your part in your professional development.

http://www.chartcourse.com/supervisory_training.html
#############################################
SHOWING APPRECIATION WITH AN
AUTHENTIC GREETING CARD

Have you received one of those electronic greeting cards?
Not very impressive. Did you ever forget an important
anniversary or birthday? Recently someone told me about
this really cool company that makes it so simple to send an
authentic greeting card; you will wonder why you didn’t hear
about this a long time ago. We are all busy—and now I no
longer have to go to the store, pick out a card, write a little
note, look up the address, find a stamp, and walk out to the
mail box. By the time I do all of that, I usually miss the date
I am trying to recognize in the first place.

The great thing about this program, it is all Internet based.
You can store each of your addresses and dates such as
anniversaries and birthdays, plus you will be reminded when
to send the card. You can choose from thousands of different
cards–and if you are creative, there is a special feature to
add your own personal photographs in the design process.
Another really neat addition, this program will scan in your
personal handwriting and signature so it looks like you
actually handwrote the note and address on the envelope.

Just think of the impact a personal greeting card could
have on your family, clients, staff, or employees. They
even put it in the envelope, add a stamp, and take it to the
post office for you—all for less than 75 cents per card
including postage.

You can watch a video and even sign up for a free account
to send out two cards by visiting this website.

http://www.sendoutcards.com/gregsmith
#############################################
SCRATCH AND DENT SALE

Everybody loves a good sale—and you won’t believe the fantastic
prices on some of our books and videos. We have marked these
items up to 60% off. Several of the videos have been opened, or
they are the older VHS version–and some of the books have bent
corners. We will even pay the shipping (U.S. orders only).
Don’t wait–Make your order now before they are gone.

http://www.chartcourse.com/captainsspecialdeals.html
#############################################
FORWARD TO YOUR FRIENDS

If you find our information interesting, please
send it to your friends. The Navigator newsletter is
received by over 27,000 subscribers in 49 countries.

Click here to join the Navigator
http://www.chartcourse.com/emailnavnews.htm Continue reading “Avoid Getting Laid Off | Transformational Leadership”