A talent management strategy is second only to a business strategy in importance at any organization. But, many organizations still lack a detailed strategy for talent decisions and actions. Their approach to attracting, developing, engaging, and retaining talent is disparate and targets only select talent processes. More than one-third (37%) of organizations attributed their under-performing business results to ineffective talent management practices.
In October, Brandon Hall Group published more than 60 research assets on Human Capital Management, including 10 on Talent Management. We share with you the assets produced last month to catch up on market insights you might have missed on talent management.
Get involved this month as more research will be coming out soon. We currently have an open survey on Employee Engagement, looking at current and future trends, join the discussion and take the survey now. You can also take advantage of watching our recent webinar Performance Management Isn’t Going Away, It’s Transforming (all of our webinar replays are open to the public).
Our eBook, 3 Performance Management Practices That Make a Business Difference headlined the Talent Management Research this month. Here is a highlight of what’s is in the ebook and all of our Talent Management pieces.
Analysis of Brandon Hall Group’s 2017 Performance Management data shows that organizations that embraced actively involving employees in the performance management process were much more likely to see gains in KPIs than other organizations. This report looks at the impact of recognizing employees for strong performance, involving employees in performance assessments, and training mangers on performance management. We found strong correlations between these practices and critical business metrics such as employee engagement, organizational revenue, employee productivity, and participation in development opportunities.
Research shows a clear link between employee involvement in performance management processes and successful outcomes from those processes. Despite the widespread media attention around organizations that have removed performance management altogether, most organizations are modifying their processes to incorporate the latest research in management and psychology. Even traditional and successful performance review processes stand to benefit from advances in technologies, allowing for a more transparent, segmented, and data-driven strategy. Coaching, in-the-moment feedback, and consistent recognition for meaningful contributions are practices that truly impact performance management effectiveness.
Watch the webinar replay with Brandon Hall Group’s Cliff Stevenson and Instructure’s Ike Bennion, as they discuss the implications of the latest research into modern, results-driven performance management, and discuss strategies that have already embraced the need for meaningful, collaborative, manager-employee relationships.
When a new CEO took over at Ulta Beauty, the company made a philosophical shift to tie business strategy to talent strategy with a focus on creating a culture that encourages engagement. Ulta Beauty employee surveys identified areas where change was warranted, but leaders believed that action is more important than measurement. So every time a specific action is taken, it is tied directly to feedback from associates. In three years under CEO Mary Dillon, Ulta Beauty has “moved the needle” on engagement year over year. The initiative earned Ulta Beauty a Gold Award for Best Advance in Employee Engagement in the 2017 Brandon Hall Group HCM Excellence Awards.
When Pizza Hut created a new Employee Value Proposition, it developed a bold, visually driven approach called “Life Unboxed” that reflects its culture and highlights its benefits to employees. Corporate launched its strategy not as a program but as a mindset. Franchise rallies and a “30 cities in 30 days” tour promoted the new EVP and showed Pizza Hut as a place where employees “Become their best,” “Make friends,” and “Have fun.” Pizza Hut earned a Gold Award for Best Employee Value Proposition in the 2017 Brandon Hall Group HCM Excellence Awards.
Sonic Automotive set a goal of changing the culture in its dealerships, so leaders recognized the need to teach new managers how to take on their new roles and help their teams successfully perform. At Sonic, most new managers are promoted from within and struggle with foundational leadership skills. To address such leadership flaws, Sonic developed training that focuses on foundational skills such as coaching, team management, and reasoning and judgment. The asynchronous eLearning prepares managers for a classroom session focused on application. The program earned Sonic Automotive a Bronze Award for Best Advance in Coaching and Mentoring in the 2017 Brandon Hall Group HCM Excellence Awards.
Using Digital Simulations to Coach Engagement Managers at McKinsey (2017 Case Study)
McKinsey’s engagement managers (EMs) are the face of the company, and their role is anxiety-producing as they shift from managing self to managing client interactions and consultants. To prepare EMs, McKinsey enhanced their training using an innovative strategy. The new training leverages coaching in a digital simulation where learners’ decisions have 24 possible endings and they gain insight with in-game coaching from fictional trainers. The digital experience is followed by WebEx-enabled sessions with facilitated discussion and peer-to-peer coaching. This innovation earned McKinsey and Company a Silver Award for Best Advance in Coaching and Mentoring in the 2017 HCM Brandon Hall Group Excellence Awards.
Our analyst team also answered in detail the questions of our members:
- Do you have a recommended interview protocol to use with business leaders when creating business segment specific talent strategies? What level of leader is typically interviewed? Anything else that could be helpful for us? We are interested in all talent areas including L&D, Org Development, Talent Acquisition, Etc.
- Leaders Engaging Staff – I am looking for information on how leaders can better engage their staffs. I am looking for an approach, best practices and any other helpful information on how leaders can increase engagement.
- What are the drivers of voluntary employee turnover and the most effective interventions for retention?
- I’m curious if you have any research on employee recognition best practices or the relationship between employee recognition practices and positive individual, team, or organizational outcomes?