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Managing Outflow

Managing Outflow. Talent Flow and Retention. Hiring and Retention: Flip Sides of the Same Coin. Better hiring lower turnover Lower turnover better hiring Both are critical to firm performance Both should be based on performance Difference: retention is less “formulaic”.

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Managing Outflow

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  1. Managing Outflow Talent Flow and Retention

  2. Hiring and Retention: Flip Sides of the Same Coin • Better hiring lower turnover • Lower turnover better hiring • Both are critical to firm performance • Both should be based on performance • Difference: retention is less “formulaic”

  3. Talent Flow: The Google Story • The Google Success Story • Zero turnover

  4. Relative rate of inflow of good vs poor performers Rates of outflow of: Good performers Poor performers Rates of change from: Good -> poor performance Poor -> good performance Hiring Retention Termination/Turnover Adaptation & Development Talent Pool Depends on Flows:

  5. Issue 1:Why Performance Turns Negative • Gradual • Skill obsolescence • Stress/burnout • Dissatisfaction -> negative adaptation • Sudden • Emotional reaction to events

  6. Work Adaptation Process Job Satisfaction Stable Behavior Problem-Solving Avoidance Problem Behavior Dissatisfaction Retaliation Turnover Exit Capitulation

  7. Adaptation: Problem-Solving Trying to solve the problem • Talking with supervisor • Making informal changes in job • Seeking outside help

  8. Adaptation: Avoidance Taking a “who cares” approach • Being absent or late • Goofing off at work • Not working as hard as you could • Letting things slide that won’t be noticed

  9. Adaptation: Retaliation Trying to “even the score” • Towards the firm • theft, sabotage, bad-mouthing • Towards coworkers • gossip, being uncooperative, violence • Towards customers • poor service, theft, violence

  10. Adaptation: Exit Avoiding source of dissatisfaction • Physical Withdrawal • Quitting • Transfer • Psychological Withdrawal • Alcohol/drug abuse

  11. Adaptation: Capitulation Giving Up • Perseverance • Lowering expectations • Disengagement • Health consequences

  12. So What Do People Really Do? • Asked employees to think of a time when they were dissatisfied • What did you do? • If that didn’t help, what did you do next? Rosse & Saturay (2004)

  13. Source: Rosse & Saturay, 2003

  14. Source: Rosse & Saturay, 2003

  15. Implications of Adaptation

  16. What Can You Do to Maximize Positive Forms of Adaptation? • Create a High-Satisfaction, High-Performance work culture • Encourage dissatisfied employees to choose Problem-Solving • Encourage collaborative approaches to conflict management

  17. Issue 2:Why Do Employees Quit? • Because they want to • Dissatisfied with current job (“push”) • A more attractive alternative exists (“pull”) • Because they can • Turnover (and absence) are much higher during periods of low unemployment • “Golden handcuffs”; family responsibilities; age/mobility constraints • Because they “have to” (?)

  18. The Turnover Triangle (or “Pie”)

  19. Individual Factors • Turnover profile?? • Low Conscientiousness and Emotional Stability • High Openness to Experience • Building self-efficacy and sense of control • Accommodating differences in values

  20. Environment Factors • Economy/Labor Market

  21. Environment Factors • Economy/Labor Market—WHY? • Unavailability of jobs – people can’t find jobs, or don’t want to risk looking for a job • “Frame of Reference” effect on job satisfaction • People with jobs are more satisfied during periods of high unemployment

  22. Environment Factors • Economy/Labor Market • Socio-Demographic Changes • Can’t control—how do you cope?

  23. Workplace Factors • Hiring the right people • Job Satisfaction

  24. 12/3/2006 MercuryNews article: • “Employers with unhappy workers, take heed: The tables might be turning.” • “We have a little bit of a leading indicator going on here. We know that employees are getting less satisfied with their jobs. So turnover may increase.'' • “The biggest reason for the expected worker exodus? Worker dissatisfaction.”

  25. 2005 Conference Board study: Trends • Half of Americans are satisfied with their jobs; down from nearly 60% in 1995 • 1/4 of the American workforce is simply “showing up to collect a paycheck.” • Drop in job satisfaction was largest (61% to 49%) for workers aged 35 -44, and smallest for oldest workers

  26. 2005 Conference Board study:Sources of satisfaction • Least satisfied with bonus plans, promotion policies, health plans, pensions • Less than 1/3 of supervisors and managers are perceived to be strong leaders • Only 1/3 are satisfied with pay • Two out of every three workers do not identify with or feel motivated to drive their employer's business goals and objectives.

  27. 12/3/2006 MercuryNews article: • “The main lure is not better pay elsewhere” • Least satisfied with career and affiliation, “a strong indication that workers were disengaged with their companies.” Survey of ~1300 workers by Sibson Consulting

  28. Key Sources of Dissatisfaction(Rosse & Saturay, 2003) • The Boss • Incompetence • The “Jerk Factor” • Coworkers • Hard to live with • Not doing their jobs • Company Policies and Practices • Esp dealing with work load and pay • Work Challenge

  29. Job Characteristics Model Critical Psychological States Job Characteristics Outcomes Skill Variety Meaningfulness Intrinsic Satisfaction Significance Task Identity Responsibility Retention Autonomy Knowledge of Results Quality Work Feedback

  30. Common Job Satisfaction Factors? • Maybe: • Adequate/fair rewards • Financial (pay, benefits) • Intrinsic (challenge, meaning) • Supportive work environment • Boss, coworkers, customers • Connection with company • Values, goals, purpose • But you need to figure out specifics

  31. Assessing Workplace Factors • Climate/Satisfaction Surveys

  32. What Do Surveys Measure?Job Description Index • Work (intrinsic factors) • Coworkers • Supervision • Pay • Promotion Opportunities • Overall

  33. Ability Utilization Achievement Activity Advancement Authority Policies & Practices Compensation Co-workers Creativity Independence Moral Values Recognition Responsibility Security Social Service Social Status Supervision Human Relations Technical Variety Working Conditions What Do Surveys Measure?Minnesota Satisfaction Questionnaire

  34. Assessing Workplace Factors • Climate/Satisfaction Surveys • Exit interviews/Surveys

  35. Assessing Workplace Factors • Climate/Satisfaction Surveys • Exit interviews/Surveys • MBWA (Mgmt by Walking Around) • Watching for behavior that might be caused by dissatisfaction

  36. Bottom Line • NO MAGIC BULLETS • Turnover is inevitable • Turnover (talent flow) needs to be managed, not reduced • Dissatisfaction is key driver of turnover and other performance problems • Use Turnover Triangle for diagnosis • Work to (1) reduce dissatisfaction and (2) encourage positive forms of adapting

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