To accommodate career development and retention in today’s diverse work environment, it’s more important than ever to ensure you have key strategies in place that support the alignment of individual employee goals and development. Join us for part one of this two-part webinar series and learn key steps to improving employee engagement through goal and development plans that allow everyone in your workforce to share the same vision of success and the tools to get them there.

1. Strategies to Improve Employee Retention in
a Diverse Workforce
Speaker: Tracy McCarthy
Senior Vice President of Human Resources
SilkRoad Technology
Christa Sorenson
Senior Vice President of Organization and Talent Development
Equity Residential
Moderator: Mike Prokopeak
Vice President, Editorial Director
Talent Management magazine
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5. Strategies to Improve Employee Retention in
a Diverse Workforce
Mike Prokopeak
Vice President, Editorial Director
Talent Management magazine
#TMwebinar

6. Strategies to Improve Employee Retention in a
Diverse Workforce
Tracy McCarthy
Senior Vice President of Human Resources
SilkRoad Technology
Christa Sorenson
Senior Vice President of Organization and
Talent Development
Equity Residential
#TMwebinar

7. STRATEGIES
TO
IMPROVE
EMPLOYEE
RETENTION
Part
One:
Aligning
with
the
business
through
Goals
and
Career
Development

8. Objec've
and
Approach
Objec&ve:
provide
you
with
key
strategies
to
support
and
align
individual
development
with
reten&on.
Approach:
To
share
insights
and
successes
rela&ng
to
prac&cal,
real
world
solu&ons.
Share
different
perspec&ves.

9. Does
employee
development
improve
engagement
and
reten'on?
• The
research
shows
it
does…
– Gallup
organizaHon
shows
high
correlaHon
to
engagement
when
employees
have
opportuniHes
for
development
and
growth.
• Q6)
Is
there
someone
at
work
who
encourages
your
development?
• Q11)
In
the
last
six
months,
has
someone
at
work
talked
to
you
about
your
progress?
• Q12)
In
the
last
year,
have
you
had
opportuni'es
to
learn
and
grow?
– Higher
levels
of
engagement
are
linked
to
greater
retenHon
levels.

10. Triggers
for
development
Hiring
&
selecHon
Eligible
for
promoHon
or
onboarding
new
role
Skills
&
Competencies
required
for
each
posiHon
Performance
Learning
&
assessment
development

11. POLL:
What
is
your
#1
obstacle
to
implemen'ng
an
effec've
process
for
development
planning
at
your
company?
– Lack
of
culture
and/or
management
support
– It
takes
too
much
Hme
or
resources
– Lack
technology
and/or
system
to
facilitate
the
process
– We
just
don’t
know
where
to
start
– We
tried
and
it
failed
– Other

12. A
CHANGE
PERSPECTIVE

13. Case
Study:
Organiza'onal
Focus

14. Motivate Clarify
Clarify
Motivate Expectations
Expectations
Expectations
Provide
Provide Assess Current
Assess Current
Feedback
Feedback Performance
Performance
Feedback

15. Key
Learnings
• Development
soluHons
can
have
huge
impact
when
they
are
linked
to
business
needs
• Development
can
be
embedded
as
an
ongoing
conversaHon
• Good-­‐Be^er-­‐Best
model
can
help
get
past
the
“I
don’t
need
development”
mindset

16. Case
Study:
Individual
Focus
One
Employee
at
a
Time….
• Buying
Department
• High
turnover
at
entry
level
(60-­‐80%)
• Lack
of
development
and
career
growth
• Gen
Y
employees
• Baby
Boomer
managers
• Clash
of
the
generaHons?

17. Karen
–
Gen
Y

18. Key
Learnings
• Employees
will
find
development
opportuniHes
either
in
your
company
or
someone
else's
• Help
remove
barriers
so
people
can
find
their
own
path
– Managers
are
the
greatest
influence
on
whether
people
stay
or
leave.
Help
them
be
good
coaches/mentors
– Foster
engagement
and
desire
vs.
enHtlement
and
expectaHon
• Encouragement,
Feedback,
OpportuniHes
• Recognize
but
don’t
blame
generaHonal
differences
– Be
creaHve:
Development
is
moving
forward
instead
of
up
and
it
doesn’t
always
have
to
be
a
formal
process
• Think
about
a
mentoring
program
at
work

19. KEY
STRATEGIES
FOR
SUCCESSFUL
EMPLOYEE
DEVELOPMENT
SOLUTIONS

20. Best
Prac'ces
for
Effec've
Development
Plans
1. Employees
must
own
the
process
2. Leverage
systems
and
technology
3. Ensure
people
know
how
to
create
an
effecHve
development
plan
4. Integrate
with
performance
management
and
succession
management

21. 1.
Let
Employees
Drive
the
Process
• Employees’
own
their
desHny
– Development
is
a
CHOICE
– Empower
employees
to
be
accountable
for
their
own
performance
and
development
and
remove
the
enHtlement
mindset
• OrganizaHons/managers
are
partners
– Remove
barriers
to
success
– Provide
expectaHons,
support
and
encouragement
– Regular
ongoing
construcHve
feedback
– Managers
are
accountable
for
support

22. 2.
Systems
and
Technology
• For
structured
development
programs,
you
need
a
process
to
organize
the
acHviHes
of
development
planning.
• Technology
helps
facilitate
that
process
and
can
reduce
workload,
provide
reminders,
keep
all
development
acHviHes
and
related
informaHon
in
one
place,
easy
to
access.
• Technology
can
link
development
plans
to
the
employee
lifecycle
events.

23. Technology
example

24. 3.
What
makes
a
good
Development
Plan
What
it’s
not
What
it
is
-­‐ An
ac&vity
or
class
-­‐ An
objec&ve
to
grow
or
-­‐ Unrelated
to
the
improve
in
an
area
business
need
-­‐ Clear
link
to
the
-­‐ Vague
and
abstract
business
-­‐ Outcome,
ac&on
items,
and
measurements

25. Keep
the
learning
curve
on
an
upswing
Learning
and
Forgedng
Curves
100%
80%
On-­‐the-­‐job
Learning
Curves
60%
On-­‐the-­‐job
Forgedng
Curves
40%
20%
Aler
Training
0%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

26. Sample
Development
Plan
Development
Objective
Expand
my
strategic
thinking,
particularly
relating
to
pricing
our
apartments
and
my
contribution
to
pricing
decisions.
Why
is
this
objective
important?
I
need
to
maximize
the
performance
of
my
properties;
I
can
do
that
by
participating
more
e ffectively
during
pricing
calls.
To
do
this
I
need
to
i ncrease
my
i ndustry
knowledge
and
strategy
skills.
Expected
Results
I
e xpect
to
provide
strategic
and
thoughtful
pricing
recommendations
on
my
pricing
calls,
which
will
lead
to
i ncreased
revenue
on
my
properties.
How
will
we
measure
progress?
Progress
will
be
measured
by:
1.
Improved
business
results
of
my
properties.
2.
Feedback
I
received
from
my
pricing
analyst
and
supervisor
on
my
participation
i n
pricing
calls.
Action
Plan(s)
1)
Action:
Establish
a
mentoring
relationship
with
Peter.
I
will
present
my
thoughts
about
pricing
strategy
to
him
prior
to
my
pricing
calls,
and
request
his
feedback
on
both
the
strategy
and
my
presentation
of
i t.
2)
Action:
I
will
ask
my
manager,
my
peers,
and
others
to
describe
my
strengths
and
weaknesses
regarding
strategic
thinking.
3)
Action:
At
l east
once
a
month
I
will
take
an
action
to
maintain
up-­‐to-­‐date
knowledge
of
i ndustry-­‐wide
business
i ssues.
I
will
share
this
action
with
my
manager
regularly.

27. 4.
Integra'ng
with
performance
management
and
succession
planning
• Performance
Management
– The
“what”
the
“how”
and
the
“growth”
– DemonstraHon
of
company
commitment
• Succession
Planning
– Trigger
for
development
– Opportunity
to
expand
the
art
of
development
planning

28. Summary
• There
are
a
variety
of
stages
in
the
employee
lifecycle
when
development
should
be
considered
• Development
is
not
a
“one
size
fits
all”
program
• Your
company
culture
and
management
buy-­‐in
(or
lack
of)
will
influence
the
success
of
employee
development
• A
change
mindset
and
integraHon
are
key!
• Employee
development
opportuniHes
posiHvely
influence
engagement
and
retenHon

29. Webinar
Session
2
Please
join
July
12th
for
Part
II
of
this
webinar
series:
Strategies
to
Improve
Employee
Reten'on
in
a
Diverse
Workforce:
Succession
Planning
When:
July
12th,
2011
Time:
2:00
PM
EST

30. Thoughful
Reading
Sugges'ons
• First,
Break
All
the
Rules
–
What
the
world’s
greatest
managers
do
differently
– Marcus
Buckingham
&
Curt
Coffman
• Love’Em
or
Lose’Em
–
Gepng
good
people
to
stay
– Beverly
Kaye
and
Sharon
Jordan-­‐Evans
• FYI:
For
Your
Improvement,
A
Guide
for
Development
and
Coaching
– Lombardo
&
Eichinger

31. Questions and Answers
Tracy McCarthy
Senior Vice President of Human Resources
SilkRoad Technology
Tracy.McCarthy@silkroad.com
Christa Sorenson
Senior Vice President of Organization and
Talent Development
Equity Residential
Csorenson@eqrworld.com
For sales inquires please contact:
sales@silkroad.com.
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32. Join Our Next TM Webinar
Thursday, June 30, 2011
10 Things HR Can Do to Help Align an
Organization's Goals
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