10 Managing Employee Retention Engagement and Careers 4

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10 Managing Employee Retention, Engagement, and Careers 4 - Copyright © 2015 Pearson Education,

10 Managing Employee Retention, Engagement, and Careers 4 - Copyright © 2015 Pearson Education, Ltd. 10 -1

Learning Objectives 1. Describe a comprehensive approach to retaining employees. 2. Explain why employee

Learning Objectives 1. Describe a comprehensive approach to retaining employees. 2. Explain why employee engagement is 4 important, and how to foster such engagement. 3. Discuss what employers and supervisors can do to support employees’ career development needs. Copyright © 2015 Pearson Education, Ltd. 10 -2

Learning Objectives 4. List and briefly explain the main decisions employers should address in

Learning Objectives 4. List and briefly explain the main decisions employers should address in reaching promotion and other employee life-cycle career decisions. 45. Explain each of the main grounds for dismissal. Copyright © 2015 Pearson Education, Ltd. 10 -3

Describe a comprehensive approach to retaining 4 employees. Copyright © 2015 Pearson Education, Ltd.

Describe a comprehensive approach to retaining 4 employees. Copyright © 2015 Pearson Education, Ltd. 10 -4

IMPROVING PERFORMANCE: HR as a Profit Center • Studies show link when turnover rates

IMPROVING PERFORMANCE: HR as a Profit Center • Studies show link when turnover rates rise financial performance is at risk 4 - • HR practices can lower turnover o Opportunities o Training o Development Copyright © 2015 Pearson Education, Ltd. 10 -5

Managing Employee Turnover • Costs of turnover • Managing voluntary turnover 4 • Reducing

Managing Employee Turnover • Costs of turnover • Managing voluntary turnover 4 • Reducing voluntary turnover Copyright © 2015 Pearson Education, Ltd. 10 -6

Managing Employee Retention 1. Identify issues with surveys 2. Compensation 3. Selection 4

Managing Employee Retention 1. Identify issues with surveys 2. Compensation 3. Selection 4 - 4. Professional growth 5. Meaningful work/ownership Copyright © 2015 Pearson Education, Ltd. 10 -7

Managing Employee Retention 6. Work–life balance 7. High engagement 8. Data analytics 4 -

Managing Employee Retention 6. Work–life balance 7. High engagement 8. Data analytics 4 - 9. Counter offers 10. Workforce planning Copyright © 2015 Pearson Education, Ltd. 10 -8

IMPROVING PERFORMANCE: HR Practices Around the Globe • IBM technology training program is improving

IMPROVING PERFORMANCE: HR Practices Around the Globe • IBM technology training program is improving 4 o Employee retention o Minimizing layoffs o Resignations and o Turnover costs Copyright © 2015 Pearson Education, Ltd. 10 -9

Managing Employee Retention • Talent Management and Employee Retention 4 - • Job withdrawal

Managing Employee Retention • Talent Management and Employee Retention 4 - • Job withdrawal o Dealing with job withdrawal  Copyright © 2015 Pearson Education, Ltd. 10 -10

Review • Identify issues with surveys • Compensation • Selection 4 - • Professional

Review • Identify issues with surveys • Compensation • Selection 4 - • Professional growth • Meaningful work/ownership Copyright © 2015 Pearson Education, Ltd. 10 -11

Review • Work–life balance • High engagement • Data analytics • Counter offers 4

Review • Work–life balance • High engagement • Data analytics • Counter offers 4 - • Workforce planning/ Talent Management • Job withdrawal Copyright © 2015 Pearson Education, Ltd. 10 -12

Explain why employee engagement is important, and how to foster such 4 engagement. Copyright

Explain why employee engagement is important, and how to foster such 4 engagement. Copyright © 2015 Pearson Education, Ltd. 10 -13

IMPROVING PERFORMANCE: HR Practices Around the Globe • Rio Tinto is a global mining

IMPROVING PERFORMANCE: HR Practices Around the Globe • Rio Tinto is a global mining corporation • Using metrics and measures, consulting firm Towers Watson conducted an 4 employee engagement survey so Rio Tinto could take the steps to: o Employee engagement and o Performance Copyright © 2015 Pearson Education, Ltd. 10 -14

Managing Employee Engagement • Gallup survey o Business units that have employee engagement have

Managing Employee Engagement • Gallup survey o Business units that have employee engagement have 83% chance of performing above the company median o Those with the lowest employee 4 engagement have a 17% chance • Watson Wyatt Worldwide survey o Highly engaged employees generate 26% higher revenue per employee Copyright © 2015 Pearson Education, Ltd. 10 -15

Managing Employee Engagement Employee Actions That Foster Engagement 1. Understanding how their department contributes

Managing Employee Engagement Employee Actions That Foster Engagement 1. Understanding how their department contributes to company success 4 - 2. Seeing how their efforts contribute to achieving company goals 3. Get a sense of accomplishment from work at the company Copyright © 2015 Pearson Education, Ltd. 10 -16

Review • Employee Engagement and Performance • Employee Actions That 4 Foster Engagement Copyright

Review • Employee Engagement and Performance • Employee Actions That 4 Foster Engagement Copyright © 2015 Pearson Education, Ltd. 10 -17

Discuss what employers and supervisors can do to support employees’ career development 4 needs.

Discuss what employers and supervisors can do to support employees’ career development 4 needs. Copyright © 2015 Pearson Education, Ltd. 10 -18

Career Management • Career terminology • Careers today • Psychological 4 - contract •

Career Management • Career terminology • Careers today • Psychological 4 - contract • The employee’s role Copyright © 2015 Pearson Education, Ltd. 10 -19

Career Management • The Employer’s Role o Depends on length of time employee is

Career Management • The Employer’s Role o Depends on length of time employee is employed • Employer Career Management Options 4 o Employee career planning form suggested • Managers Role o Actively train, mentor, review performance Copyright © 2015 Pearson Education, Ltd. 10 -20

Review • Career terminology • Careers today • Psychological contract • The employee’s role

Review • Career terminology • Careers today • Psychological contract • The employee’s role 4 - • Employer’s and Manager role • Employer Career Management Options Copyright © 2015 Pearson Education, Ltd. 10 -21

List and briefly explain the main decisions employers should address in reaching promotion 4

List and briefly explain the main decisions employers should address in reaching promotion 4 and other employee life-cycle career decisions. Copyright © 2015 Pearson Education, Ltd. 10 -22

Making Promotion Decisions 1. Is seniority or competence the rule? 2. How should we

Making Promotion Decisions 1. Is seniority or competence the rule? 2. How should we measure competence? 3. 4 Is the process formal or informal? 4. Vertical, horizontal, or other? Copyright © 2015 Pearson Education, Ltd. 10 -23

Making Promotion Decisions • The Gender Gap o Eliminate barriers 4 - o Improve

Making Promotion Decisions • The Gender Gap o Eliminate barriers 4 - o Improve networking, mentoring o Break the glass ceiling o Have flexible career tracks Copyright © 2015 Pearson Education, Ltd. 10 -24

Making Promotion Decisions • Look at Practical Considerations • Managing transfers 4 - •

Making Promotion Decisions • Look at Practical Considerations • Managing transfers 4 - • Managing retirements Copyright © 2015 Pearson Education, Ltd. 10 -25

Review • Promotion • Look at Practical decisions Considerations • Measurement • Gender Gap

Review • Promotion • Look at Practical decisions Considerations • Measurement • Gender Gap • Formal vs. • Managing transfers informal 4 - • Managing retirements • Vertical or horizontal Copyright © 2015 Pearson Education, Ltd. 10 -26

Explain each of the main grounds for 4 dismissal. Copyright © 2015 Pearson Education,

Explain each of the main grounds for 4 dismissal. Copyright © 2015 Pearson Education, Ltd. 10 -27

Managing Dismissals • Grounds for Dismissal • Avoiding Wrongful Discharge Suits • Supervisor Liability

Managing Dismissals • Grounds for Dismissal • Avoiding Wrongful Discharge Suits • Supervisor Liability 4 - Copyright © 2015 Pearson Education, Ltd. 10 -28

Managing Dismissals • The Exit Process and Termination Interview 4 - • Layoffs and

Managing Dismissals • The Exit Process and Termination Interview 4 - • Layoffs and the Plant Closing Law • Adjusting to Downsizings and Mergers Copyright © 2015 Pearson Education, Ltd. 10 -29

Review • Managing dismissals • Avoiding suits • Liability 4 - • Exit process

Review • Managing dismissals • Avoiding suits • Liability 4 - • Exit process • Downsizing and mergers Copyright © 2015 Pearson Education, Ltd. 10 -30

Improving Performance at The Hotel Paris • “Many hotel jobs are ‘dead end’; for

Improving Performance at The Hotel Paris • “Many hotel jobs are ‘dead end’; for example, maids and valets with no aspirations to move up, or are using these jobs temporarily, for instance, to help out with household 4 expenses. ” • First, do you agree with this statement—why, or why not? Second, list three more specific career activities you would recommend Lisa implement for these employees. Copyright © 2015 Pearson Education, Ltd. 10 -31

Hotel Paris Strategy Chapter 10 4 - Copyright © 2015 Pearson Education, Ltd. 10

Hotel Paris Strategy Chapter 10 4 - Copyright © 2015 Pearson Education, Ltd. 10 -32