September 2008



Life….Start-Continue-Quit = Life’s SCQ Check

I came across the above icon while looking out for some online photographs, and it somehow made me reflect on my life. I ask myself the question what is it that I have to Start doing right now, what should I Continue and what should I Stop doing right now….this very moment. I guess sometimes we just do not stop and reflect on how life is moving, where it is taking us and what it is asking us to do….so take a few moments and do your Life’s SCQ Check.

Reference

Image: http://www.photobucket.com

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Reward Strategies 2008

Ann Bares annually conducts a survey on compensation plans in her market and the following results are the top three reward strategies identified for the year 2008.

The Number 1 reward strategy for the third year consecutively is; “the variable pay, incentives, bonuses etc”. The variable pay plans are said to be the megatrend for employee rewards.

The second winning reward strategy is; “keeping pay competitive”. It was said that it is important to keep the compensation structures and market plan programs competitive, keeping in mind that there is still a war for talent especially for employees with critical skills & experience.

Finally, the third winning reward strategy was; “the hiring bonus (this included the sign on bonuses and the employee referral bonuses)”.

Notes:

One of her favorite questions in the compensation plans survey is; “What compensation strategies and tactics did your organization find most successful in attracting, retaining and motivating employees over the past year?”

References:

Cf: http://compforce.typepad.com/compensation_force/2008/09/top-three-rewar.html

Image: http://www.sxc.hu/photo/480130

Text Messaging & Flexitime

Information that I gained from my readings today:

Will You Be Sending Learning Via Text Message?

Milleanials prefer sending text messages and the impact this could have on the future of learning and development, sending team updates or even knowledge updates.

According to Gartner (www.gartner.com) industries such as travel and tourism, food chains etc. are all preparing themselves for text message marketing as they see how their potential customers increasingly bank on their cell phones as a major mode of communication and who are always on the move.

Companies such as Ernst & Young are also incorporating texting into their new hire programs, where welcome notes are sent to the new recruits by the CEO or senior recruits.

Is Flextime Right for Your Organization?

Flexitime is an emerging trend at the workplace, and as most of us are aware it allows us to strike a work-life balance. Some who do not encourage Flexitime consider it to be a practice which deteriorates work standards or which gives some people the opportunity to do less work.

The benefits of Flexitime includes improved employee productivity and better employee morale as it takes into consideration the need of each individual employee. One example cited was, where a flextime employee could start work from 7:00am to 3:00pm and leave work early so that she can pick up her child early from a day care centre.

The potential downside of Flexitime highlighted staffing issues that managers had to take care of or challenges encountered while scheduling team meetings. However, this shortcoming can be solved by the use of technology such as web conferences. Flexitme employees should take such issues in to consideration and be available when needed.

It is likely that some employees recognize that Flexitime is not the right choice for them given the position they have. While other employees, who can take the advantage of Flexitime must also realize that it is an employee benefit and that they are trusted to complete their responsibilities on time.

Thus, companies should consider Flexitime as an option and see it if it is suitable for their organization.

Note: “A recent Bureau of Labor Statistics report estimated that 30 percent of employees work under flexible hours.” (S.Pruitt, Is Flextime Right for Your Organization? ; http://www.hrworld.com)

References:

Cf: http://newlearningplaybook.com/blog/

Cf: http://www.hrworld.com/features/is-flextime-right-082008/

Gregory Goose (T&D)

Today I came across an online preview on ‘The Leadership Secret of Gregory Goose’ by Judith E. Glaser. It’s said that the video/workshop provides a new way to understand on how leadership instincts in others can be released when sharing power. I found the learning objectives of this video very interesting (includes topics such as vital conversations, co-creative leadership, relational power etc.) and I hope to meet Gregory Goose and discuss with him his leadership secret.

Here’s the Preview and links to Gregory Goose:

http://www.creatingwe.com

http://www.benchmarkcommunicationsinc.com/BCI_publications_gregorygoose.htm

Introduction Talent Management

I have a very personal connection to the topic of talent management and you will find me writing a lot on it. I also keep up with the latest happenings and trends in this field. Before I get into the details of this topic as always I would like to begin with a definition and a brief explanation of this term.

Before an organization identifies who its talented people are, it should have a clear definition of what it means by ‘Talent’. Different organizations define what talent means to them differently. An example here is:

Definition Talent: Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their own strengths, limitations and impact on others…’ (1)

So what is Talent Management? The following two definitions help us comprehend this term:

Definition Talent Management: ‘Talent management is the process of ensuring that the organization attracts, retains, motivates and develops the talented people it needs.’ (2)

OR

Definition Talent Management: ‘A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs. Talent management involves individual and organizational development in response to a changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organization culture.’(3)

It’s important to note that some organizations associate the term talent or talent management only to key performing individuals. However, it is essential to remember that each one of us has some talent potential and hence it should not be restricted to the very few. Nevertheless, it is highly likely that more attention is going to be paid to employees with high potential or exceptional skills.

Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc.

Talent management has a number of benefits to offer such as employee engagement, retention, aligning to strategic goals in order to indentify the future leadership of the organization, increased productivity, culture of excellence and much more.

References:

1. Yeung, R., (Nov 2004): Finders keepers, in: Accountancy, Vol. 134, No. 1335, pp. 42-43

2. Armstrong, M., (2001): A Handbook of Human Resource Management Practice, 8th edn, London & Sterling, Kogan Page

3. http://derekstockley.com.au/newsletters-05/020-talent-management.html