And you want to incorporate that into their development plans. What do they want to do next? What projects and activities might be useful to help their development along? How’s does it satisfy their career aspirations?

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Read the attached video transcript about the top 10 practical tips for leaders and choose 2 that you think you will be able to use at some point in your career as a human resources student.



Measuring the Impact of Talent Pt 1 This is a discussion about leadership and its impact on talent, management, and the workforce in any company, profit or nonprofit. So our learning objectives for this segment are we’re going to analyze a business case for alignment from vision to goals via the balanced scorecard. And we’re going explain the data driven rationale for superior talent management. And then we’re going to review the 10 tactical steps any leader can take to execute on the strategy using these simple techniques. So there are many other videos that I’ve done on the balanced scorecard, the seminal work by Norton Kaplan back in 1992 that essentially talks about strategy and execution on the strategy, a measurement system as well as a management system for human capital, which in this case, is represented by high performing employees at the bottom. When you do that really well, you tend to have flawless execution and service excellence, which relate to the operations perspective of the balanced scorecard. When you operate with excellence, you tend to have better client loyalty. And when you do that, you should have profitable growth and sustainability in the organization. But none of that can really happen, at least in the model that we’re pitching, without high performing and highly engaged employees. And one of the easiest ways to get there is to have leaders that know how to lead, can help create the vision for those employees to understand where the company is going, and to try to get the discretionary effort out of those employees to help go through these steps of operational excellence, client loyalty, and profitable growth and sustainability. So the cycle looks something like this. Strategy leads to tactics. You operationalize those tactics, you measure it, and then set your goals all over again in the next strategy session or business cycle. And that all needs to be in alignment with the vision of where you’re going as a company, obviously, manifested by the strategic direction of the organization. And where we’re going to focus today and in this video, part 1 through part 5, will be around the things that a manager or a leader can do from a tactical standpoint once the vision and the strategy are assembled. The tactical steps that that leader can take to help human capital help attain that operational excellence, and client loyalty, and profitable growth and sustainability is what we’re going to cover. So why do we even care about all this? Why is it so important for a business to have superior talent management? What does it get you? Well, in the research that we found, it has shown to give 26% higher revenue per employee, 28% of these companies are less likely to downsize, there are 17% lower voluntary turnover, and 40% less high performer turnover. So are really critical, highly impactful numbers that have been researched over the last 10 years. Much of this research you’ll find in Bersin by Deloitte white papers over the last several years. And is a really powerful message that if you do get the talent management paradigm right, and lead those individuals, those employees to greater performance, productivity, engagement, and greater discretionary effort, that these numbers are likely to be realized. Also, we’ve found that those companies that employ the tactics that I’m about to show you have an 87% greater ability to hire the best people, and 156% greater ability to develop great leaders– more about that in a few moments. Lastly, what else does it get you? A 92% greater ability to respond to changing economic conditions and 144% greater ability to plan for future workforce needs. Pretty compelling numbers about why superior talent management is so important in an organization. So let’s move from measuring the impact of these strategic initiatives in an organization to the tactical. So what I’m going to show you in the rest of this video and the next four videos are the 10 tactical steps leaders can use to impact those high performing employees, to get them to show even greater discretionary effort. The more we can engage them, the more productive they’re going to be, and the rest of the balanced scorecard will actualize over time. So here are the 10 steps. First, and I’ll go through each one in detail, identify your population, develop a talent mobility culture, identify talent at hire, have regular development discussions, refresh the conversation, encourage the use of psychometric tools, use leadership assessments, be a servant leader, establish technical experts path, and repeat for the next business cycle. So this is by no means a comprehensive list. These are the things that I have called over 25, 30 years of being a leader in small to fortune 100 companies and things that are well researched that if you do them well, you’re more likely to achieve some of the metrics that I displayed to you in the last several slides. It’s been my experience, when you do this well, when I’ve done these things really well, that I do have a better talent group than most other teams within the organization. And I don’t mean to say this from a pretentious standpoint, but when I have employed these tactics, my engagement scores within my last three organizations have been either at the top of the organization as a whole or at the top or at the top of the organization. So I do know this works from a personal standpoint, and I hope you’ll find them useful for you as well. So in the next four videos, I will go through each of these 10 steps and let’s finish this one out by talking about the learning objectives. So here they are. We talked a little bit about the business case for aligning our vision to goals via the balanced scorecard. We explained the data driven rationale for superior talent management and some of the extraordinary numbers of those companies that do these things well, and how they are able to outperform their rivals. And then we reviewed at first glance the top 10 tactical steps that any leader can take to execute on strategy. Measuring the Impact of Talent Pt 2 Our learning objectives for this session are to review the 10 tactical steps any leader can take to execute on strategy using simple techniques. And we’re going to review steps 1 through 3 of those 10 steps. They are identify your population, develop a talent mobility culture, and identify talent at hire. So let’s get started. First, a recap of the 10 steps. I’m not going to go through all 10 of them again. That was in part one. And we’ll go through each one throughout the next four sessions or videos. But today, we’re going to cover steps 1 through 3. All right, identifying your population. So basically, what we’re recommending is that identifying your population in the performance management process of setting goals, having a mid-cycle check-in, having continual coaching, and a cycle-end review and reward, there tends to be a rating process. Now there’s been much written about ratings and whether they’re useful or not. There’s been a lot written recently and talked about recently about performance management and its usefulness. What it will tell you is this. No matter what process you use, performance management or not– and there is an entire series that I’ve recorded on performance management in the Video Vault– there is some usefulness, some great usefulness, in identifying where the performance of– the current performance of your employees lies. And that can be anywhere from a five-point scale to a four-point scale, three-point scale. And the simplest way to visualize this is as follows. Let’s talk about performance in this way. You have your top performers. You have those– someone in the middle. They do a great job, but we have some other healthy group of people that do– that consistently exceed the expectations of the job. And then you have some minority of the folks that do less than what’s expected of them. That percentage, statistically, usually looks something like this. For those that are performing at a lessthan-satisfactory level, that’s usually about 10% of your population. For those that are doing what’s expected of them in their job, it’s usually about 60% of the population. And for those that are doing a superior job, consistently exceeding the expectations of the job, that’s about 30% of the population. Come up with our 100% of our employee base. So in this process, however we get to it, we identify who your top performers are, those that are somewhat in the middle, and those that are at the bottom of the performance scale. So in identifying your population, you want to clearly identify who are at the top 90%. Because what you’re trying to do is empower and develop that top 90% and develop or dismiss the bottom 10%. Now I know that may sound harsh, but as a leader, the rest of the 90% are looking at you as leader to decide, hey, can anyone from that bottom 10% really make its way into a functional and engaged group of employees? Or are they going to constantly do less than what’s expected of them? Or are they going to basically take away from the other 90% by being negative, by trying to persuade the folks that are doing their jobs or doing a superior job, hey, we don’t really need to work that hard? By having folks in that bottom 10% that are the true non-performers, if you will, there’s been a lot of research out that, by either trying to develop them– and if you can’t, through the disciplinary process and the interactive process, you’re doing yourself a disservice if you don’t dismiss them. Now much written about that, but let’s just focus right now on identifying the population so we know who the top 90% of our population are and the bottom 10%. We want to empower and develop the top 90%. In the book Good to Great by Jim Collins– really seminal work on business and looking at the talent within an organization– Jim Collins says that you must get the right people on the bus. You have to hire right. You want to get the right people in the right seats on the bus. That’s development side of leadership. And you want to get the wrong people off the bus. That’s develop or dismiss the bottom 10%. And you must understand that employees are not your greatest assets. The right employees are. Terrific book. If you haven’t read it, I’d strongly encourage you to do so. So why do we want to pay attention to that top group of performers– special attention? We certainly want to take a look at all 90% of the good-to-superior performing employees. But why do we want to pay special attention to the top 30%? Because you want to let them know where the organization is headed, you want to reinforce their value, and you want to make sure that you know that you want to keep them. You want to find out what they need from you so you can try to accommodate it, because they are highly sought-after by other organizations. And in fact, the research as shown– and this number’s gone up over the last five years from about 40% to almost 80%– that 75% of those top performers know they’re really good. They’re your passive performers that aren’t actively looking for another job, but they could be. And if a headhunter calls into your organization, and they get them at the right moment, in the right day, in the right week, some of them may also be leaving your organization, and that’s not a good place for you to be. Number two, develop a talent mobility culture. So this is what we call the intersection of succession management and career development. And you’ll notice that the first three items in these top 10 tips are really about talent mobility and development, and what we need to do to keep our people happy and engaged within our organization. So this is where it intersects. There’s organizational needs. In there, you’ll see succession management, what do we need in the future for our organization? And then each employee has individual needs that typically come up within performance management. There’s a portion of performance management that speaks directly about coaching employees. This is an ongoing thing, but at least once a year, we want to talk about what it is that that employee needs to continue their talent development. It doesn’t always mean vertical development. Sometimes, it means horizontal development. And somewhere between that portion of performance management and succession management and the strategic needs of the workforce within our organization are these individual development plans. And it’s a jointly-owned component between the employee and the manager. And we want to make sure that we have a regular conversation about what we can do to help the employee continue to grow. Again, it doesn’t always have to be vertically, but certainly horizontally, so that they know that they are continuing to grow, and they don’t have to look outside the organization for those growth opportunities. I can’t stress this enough, that every leader needs to be accountable for empowering and developing their staff. There really can’t be any exceptions, with the exception of those, the bottom 10%. Getting them to just do their job is part of the empowerment and development. And if they choose not to do it, that’s why you need to dismiss them. But everybody else, we need to make sure that people are constantly growing, or at least have an expectation that the leader within the group is as accountable for that growth of those employees as the employees are. And the employee has to be accountable as well. It can’t just be the leader writing up the development plan for the employee. The employee has to have a lot of input into how they want to grow, where they want to grow, what career direction they want to take. And the leader is someone who they should be able to bounce that off of. Talent mobility means the top 90%, not just the top 30%. Although we have more vulnerability around the top 30%, because that’s who our competition is looking at to try to steal away from us. That top 90% has, really, an equal need of being developed and the respect that goes along with the leader spending the time to develop their employees. Again, this is different than developing the bottom 10% who just need to do their jobs well, and we need to get them to that level of accountability. But talent mobility for us as leaders means that we need to spend some time with the top 90% of our workforce and their developmental needs to grow. That, in this model– this is a performance management topical area where we would set goals around operations, relationships, managing others if you have the staff. But under the managing self section is where you would write, along with the employees, how they’re going to develop. It’s weighted a little bit less than the top three areas of managing operations, relationship, and others. If you need more information, it is within the videos that I’ve recorded around performance management. But this is where it belongs. And this is where it can be a written document that is jointly-owned by leader and employee. What you want to do is try to know your employees better than they know themselves. So if you have some ideas of where they may aspire to, this is the time and the place to write it down, help them develop, and start to do the things that we will talk about in a future video within this series about how to do it. But this is where it needs to go from a documentation standpoint. Item 3 within our top 10 tips is something called identifying talent at hire. And the idea of having a resume, what do we do with an employee’s resume when they come in? Think about this as sort of a living, breathing LinkedIn, for lack of a better term. If someone is constantly updating their resume and their profile on LinkedIn, you as leader want to make sure that you keep track of that. There are lots of things about employees that may be very different than the skills and jobs that they’re doing right now that, prior to joining your organization, they may have some skill set that would be helpful and you may be able to tap into if there’s a project that requires that skill set. Well, knowing your people better than they know themselves is something that would be incumbent on leader to not only tap into the skills that they may have– you may be able to keep track of it by keeping a paper copy of the resume in the employees file if it’s electronic file. That’s fine, too. But I would greatly encourage you, if you don’t have a place to house this in a human resource information system within your organization or a data set that your IT group helps you out in HR by keeping track of education, training, skills, prior experience, things like that, maybe in a different database, that being able to tap into your employee’s LinkedIn profile would be a great way to be able to look for these things– not just the skill sets and the knowledge, but also the competencies and attributes that they bring to the table. So what have we learned? We’ve taken another look at those top 10 tactical steps. But specifically, we’ve looked at the top three. Identifying your population by looking through a process– typically a performance management, but it doesn’t have to be– of breaking out your top 30% of your employee population from a performance standpoint, your middle 60%, and your bottom 10%. Looking at the intersection of succession management and career development as the talent mobility culture that you want to build within your organization. And also looking at an ongoing profile-building capability. Once you’ve hired someone, having their information about what they’ve brought to the table before they’ve even started within your organization is something that you ought to be able to tap into to hopefully utilize as a future development opportunity and to keep them engaged and retained. Measuring the Impact of Talent Pt 3 So we’re going to talk a little bit more about the 10 tactical steps any leader can take to execute on strategy using simple techniques. Specifically, we’re going to talk about steps 4 to 6– having regular development discussions, refreshing the conversation, and encouraging the use of psychometric tools. So here are the 10 steps. As you’ve seen in the first two videos, we’re going to focus on steps 4, 5, and 6. So within the performance management framework– we’ve talked about this a lot– managing the operations, relationships to others, and then managing self– how do you actually implement ways of managing self? How does an employee actually come about gaining developmental opportunities? Well, first of all, we encourage the use of smart goals for self-development just like we would in managing others– if you have a staff, managing relationships and managing operations. And if you need a refresher on smart goals, that’s also within the performance management video series that I’ve recorded. But specifically, we want to encourage the regular development discussions, not just in an annual review, but on a regular basis. And you want to incorporate that into their development plans. What do they want to do next? What projects and activities might be useful to help their development along? How’s does it satisfy their career aspirations? So the really tactical piece of this is as follows. There’s a research by a group called Lominger who put out this thing called E3– 3 education, experience, and exposure. And I’ll just give you an example of each for a moment. This E3 is essentially– so what do we do to help someone along within that development framework? How do we explain to someone that your development, if we agree is or and employee, will go down this path? Well, the easy one, relatively speaking, is education. I have a bachelor’s degree, I want to go back for a master’s. Does the master’s relate back to the job I’m doing now or a future job you can anticipate that I would be able to do? Leader– is there a special seminar …
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