A common complaint made about development programs is the concern that it will create employee turnover.
As employees develop new capabilities they will be unsatisfied staying in their current roles and will begin actively seeking opportunities elsewhere. People argue that “if we develop our employees other people will hire them away.”
Or as some managers put it, “Why should I develop people just so others can poach them from me?”
Concerns about talent poaching are misguided and extremely detrimental to long-term organizational health. Read more…
Organizations the world over are investing big sums in high-potential employee (HiPo) development programs because they rightly see that developing their employees is the best and most efficient way to find their firm’s future leaders.
And the rewards can be great: CEB research shows that organizations with strong leadership can double their revenue and profit growth.
But all this investment is for naught if a firm’s brightest and best take all their “world class” training and hot foot it off to a competitor. SHL Talent Management research shows that a staggering 55 percent drop out of HiPo programs. Read more…
Companies today face several unprecedented challenges.
- An increasingly competitive hiring landscape, combined with growing talent shortages and skills gaps, makes finding the right people harder than ever.
- Looming retirements among Baby Boomers means companies will soon lose their most senior employees, along with their skills and knowledge.
- And, with rampant employee disengagement, companies often struggle to retain their best and most promising workers.
As these issues converge, talent management has become increasingly difficult. So, what can employers do to counteract these factors? Read more…
Virtually every company says it values career development. Yet one of the most common reasons for turnover is a lack of development opportunities.
If development is so important, why does it seem to be in such scarce supply?
One reason is many companies actually do things that discourage people from engaging in development activities.
You can tell a lot about how much a company values development by looking at the criteria used to guide compensation and promotion decisions. Read more…
When senior leaders come for coaching, they often show up with great motivation but guarded perspective.
Their CEO has often given them some direct or implied feedback that their career has hit a roadblock unless they develop more “executive presence” or overcome some other nebulous challenge.
In my experience in working with these executives for more than two decades, I’ve identified three recurring difficulties they have in communicating with their staff, peers, and strategic partners. If the following issues sound familiar to you, the accompanying tips may help. Read more…
By Ilyse Wolens Schuman
One of the few employment-related bills considered by Congress this term is on its way to President Obama’s desk.
On July 9, the House of Representatives overwhelmingly approved the Workforce Innovation and Opportunity Act (H.R. 803) by a vote of 415-6 (with 11 not voting).
As previously discussed, last month the Senate approved this bill, which primarily reauthorizes and consolidates a number of federal job training programs. Read more…
“Seek opportunities to show you care. The smallest gestures often make the biggest difference.” — John Wooden, longtime UCLA men’s basketball coach
Despite what some people may think, being a manager is no walk in the park.
In fact, the combination of mental work, social interaction, project juggling, time management challenges, high pressure, responsibility, and variability makes it among the more demanding types of work any person can take on. The hours are terrible and the stress is inevitable. Read more…
I saw an interview with Starbucks CEO Howard Schultz where he announced that the company would pay for most employees to get a degree online from Arizona State University.
This seems like a benefit few of the company’s employees would need. Aren’t most of their baristas already people with worthless degrees?
This is the type I’ve described as Generation U (unemployed and underemployed), but it seems that Mr. Schultz is just echoing a sentiment that suggests that a college degree is required for most people to have a good career. This starts at the very top in America — the White House’s education imperative states that “Earning a post-secondary degree or credential is a prerequisite for 21st century jobs.” Read more…
By Ilyse Wolens Schuman
In a rare act of bipartisan cooperation, the U.S. Senate on Wednesday approved by a vote of 95-3 a bill that reauthorizes and consolidates a number of federal job training programs.
Among other things, the Workforce Innovation and Opportunity Act (WIOA) amends and reauthorizes the Workforce Investment Act of 1998 (WIA), eliminates 15 existing federal workforce programs and streamlines others, and allows businesses to provide greater input at the local level regarding the types of skills needed in today’s economy. Read more…
“Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were.” — David Rockefeller, American banker
Great managers understand that in order for your team members to be productive and do a great job, they need to have the right tools.
Some need blazing-fast computing power; others require smartphones and tablets that let them do their work on the go; still others might require specialized instruments to maximize their performance. Read more…