hcd news june2002 v1

8/14/2019 HCD News June2002 v1

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Welcome to our June Edition of our Human Capital Development Newsletter for 2002

In last month’s issue, I proposed there are three issues facing most of our clients in human resourceright now:

1. The War for Talent isn’t over, it has only just begun2. Retention remains one of the biggest challenges an organisation faces3. Employees are re-evaluating their psychological contract with you in the light of recent experience

Surprisingly, I found that during my recent Job Index Survey with 21 of our clients they said the same thing! Firstthey said…if we could hire the right staff we wouldn’t have leadership or performance issues that we are currentfacing. The next challenge they reported is how to keep top-flight staff long enough to make a positive and lastincontribution in the company. Retention of top performers remains a critical issue.

This newsletter explores some solutions to the retention dilemma. We know that as the business travels througits growth cycle it will need to change, adapt and restructure to meet shifting external and internal challenges. Letlist the major groups of issues faced in this cycle:

1. Cost of staff turnover, hiring and firing costs2. Time-lag for staff replacement & staff productivity to be reached3. HR relationship with the business – to adequately predict who is needed, when and be able to deliver talent4. Career Development – a structured program of developing contributions from all staff but especially top performers through plann

work experiences, projects, work restructuring, training, executive coaching and other development activities.5. Recognition systems – compensation and benefits, but equally important are personal recognition from immediate supervisors and t

company for both staff and for top performances6. Transition Management – managing changes in structure, people and functions within the organisation7. Measuring the relationship between HR and the business to ensure that HR remains focused where the business needs it most8. Leadership Development – renewing the vision, mission, values and communications to staff to keep the focus of all staff well attun

to the business

John M. Read

To find out more about TMP’sTalent Development Solutions,

please call John Read at Tel: 6430 5324

Human CapitalDevelopment Newsletter

http://www.eresourcing.tmp.com/jisasia/





Recent Research♣ in Company shows 529% return on investment in Executive

Coaching, concludes: ♣ The target population for the survey was 43 leadership development participants. These participants were drawn fr

gions: Eastern United States (37) and Mexico (6). These participants represented a cross section of the business and included those in sales, operations,chnology, finance and marketing. Source: ASTD Article 2002

Three-quarters (77%) of the 30 respondents indicated that coaching had significant or very significant impactleast one of nine business measures.

Overall, productivity (60% favorable) and employee satisfaction (53%) were cited as the most significantly imp

by the coaching.

MP Worldwide Singapore is planning to introduce a new 2-day “Fundamentals of Coaching Practice” Course cence with the Psychology of Coaching Unit at University of Sydney, Australia. This course is aimed at providing anagers and senior managers with a core set of skills around coaching of their staff. Recent examples of comp

sing our services in this area include Telstra Australia and ANZ Bank Australia.

he Gallup Organisation have already determined that a key issue of retention is the quality of relationship betweenaff member and their immediate supervisor. This is consistently the key factor across all levels of a compa

rganisation. Leaders being able to coach their staff can enable these relationships to be win-win-win. The companach party can benefit from applying coaching as a tool for staff performance development. Coaching placeesponsibility for development into the hands of the staff concerned but enables managers to guide and direct thend strategy of development to suit each individual.

ore information on this to follow: if you would like to be kept informed about developments in this area, please drop me an [email protected]

Managing Transitionshere are many in the current business cycle: from induction to performing in the job, from performance to perform

mprovement, then possibly as the business re-structures, the next transition could be outplacement for some aring for others. A core skill requirement is managing transitions, or change management as it is often known. H

esources needs awareness of the need for managing these transitions, they need to know what is involved and hake it work best for their organisation in terms of public and internal relations, as well as productivity and cost co. A quick search on the internet shows the following sample of competencies needed by managers and leaders

rea:

To understand and apply the principles of change management to achieve organisational goals to view change as an opportunity for growth

to apply the principles of change management

to shift priorities, adapt to changes to fulfil the agenda

to be attuned with developments in the global picture

to gain support for non-traditional activities/decisions

to support staff in dealing with changettp://learnet.gc.ca/eng/comcentr/manage/building/profen19.htm]”

hese competencies have corresponding skills and knowledge together with specific individual attributes that will lffective delivery of response to change in individuals. Each level of management and leadership will have quite soles, competencies and development needs in this arena. TMP Worldwide Human Capital Development can assio define, develop and implement effective change management and transition management programs insiderganisation.

www.sg.tmp.c



Taking change into a different domain, Let’s look at changing some very commonly held assumptions:

What if we could change jobs easily, say on a daily or weekly basis? Who said work has to be fixed to onemployer alone? I know contract work is growing but why can’t we all work as sessional staff…becom

responsible for our attendance, quality and deliverables in each location we choose to work.

What if we could hold more than one job at a time, say work when there was work to be done and choose whicwork we wanted to do, because that’s the work we do best?

This raises an interesting concept I met recently in career coaching known as the career portfolio. Carol PooreAuthor has translated investment strategy into the career domain. As she puts it "This book is designed to heeach reader develop a dynamic CareerPortfolio of wise career investments-- investments that pay off in the abilito fulfills personal purpose and navigate lifelong career transitions.". By creating investment of time and purposacross several key domains including primary source of income, secondary sources of income, volunteer woand life-long learning, individuals can capitalise their energy most effectively and balance risk. When loss of jostrikes we can have other sources of income, a wider range of networks and a ready source of ideas an

experiences to advance our next career choice from.

As an outplacement consultant I have found this model of career and life/wok balance very useful in aiding mcoachees at all levels to spread their investment and balance the risk inherent in all our careers. Being smarter the career domain means taking charge of your career and life portfolio so as to maximise your returns anminimise your risk. Like investments everyone has a different appetite for risk. Of course this can vary with agelife situation and the type of risk concerned too. Maybe now is a good time for your company to help its staff take stock of their career portfolio. In this way they can get your help to re-evaluate their psychological contrawith you

hcd news june2002 v1

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