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Transcript of Engagement
How have YOU changed the way you lead your business? Redefining Growth in a Post Crisis World
Price Waterhouse Coopers 2011 CEO Survey Innovation
Historically increased share in existing markets
First time in 5 years, focus on new product and service delivery
Talent is back in a BIG way
Over 50% of CEOs expect to grow workforce in 2011 but skills shortages and demographic shifts are becoming real barriers
Engagement and co-creation with customer produce differentiation Towers Watson Global Workforce Study The War for Talent is ON Every 10 minutes, a baby boomer turns 60 and more than 75 million of them are eligible for retirement
1/5 of US large established companies will lose 40%+ of top level talent as their executives reach retirement age
76% of baby boomers have no intention of a traditional retirement - 71% plan to work
It’s estimated that over the next 30 years, the demand for bright, talented 35-45 year olds will increase by 25%, while the supply is predicted to decrease by 15%
43% of companies cite skills shortage as top business concern What is the "New" Leadership? Several models on the "right" leadership Consensus on the “wrong” Leadership
Lack Self Awareness and Self Management
Poor Interpersonal Skills The Dark Side of Leadership I am Successful
In Spite of... “The 20 Bad Habits” 1. Winning too much: The need to win at all costs.
2. Adding too much value: The overwhelming desire to add our 2 cents to every discussion.
3. Making destructive comments: The needless sarcasm and cutting remarks that we think make us witty.
4. Starting with NO, BUT, HOWEVER: Overuse of these negative qualifiers which secretly say that I’m right and you’re wrong.
5. Failing to give proper recognition: The inability to give praise and reward Engaged Leaders Business Strategy Engaged Employees How do you define employee engagement at your company?
Why do you think it is important?
How do employees know?
What does it look like? What percentage of your employees are engaged? http://movieclips.com/2pyJo-office-space-movie-motivation-problems/ A survey by the Corporate Executive Board reported in the May 2010 Harvard Business Review said 25% of workers were planning to quit their jobs in the next year. Employees with lower engagement are 4x more likely to leave their jobs than those who are highly engaged (Corporate Executive Board)
Disengagement has increased from 1 in 10 employees to 1 in 5 employees over the last 3 years (Corporate Executive Board)
Engagement fell among top performers more last year then for all employees (Watson Wyatt)
Higher levels of employee engagement showed: increased sales growth, lower cost of goods sold, increased customer focus and reduced turnover (Towers Perrin)
Highly engaged employees are almost 3x more likely to feel their company really cares about customers and has ability to serve them better than competitors (Towers Perrin)
EEs leaving for intangible reasons not for $$- 65% of those who leave cite “my Manager” as the reason. Business Case Engagement Matters Engaged employees plan to stay for what they give; the Disengaged stay for what they get
Trust in executives appears to have more than twice the impact on engagement levels than trust in immediate managers
Managers are not necessarily doing the things that matter most. The actions most correlated with high engagement are not always the ones that receive the most favorable ratings
Executives appear to struggle with key leadership behaviors, especially what’s required to create a high-performance culture What if your company was the industry leader in leveraging talent?
What if you built a talent system that assured the right people were in the right position to optimize business value, all the time?
What if you were an innovative, thought leading and well recognized human capital organization that could deliver value and measure its impact?
How would that change the game? What would you have to do to make that happen? Your Talent Management Value Chain Another Leadership Challenge Performance Model Four Generations in the Workforce A great place to work IS NOT what you say it is The Evolution of Employee Engagement Employee engagement grew out of employee satisfaction and Human Resource Metrics (i.e. retention) Today the critical link is between strategy and engagement – measuring the relationship between highly engaged employees in high impact positions and specific business key performance indicators Engagement Exchange Employee Engagement:
A Business Strategy “Most CEOs have 1 to 5 strengths that make them successful but each has at least one fatal flaw, a gaping weakness.” Peter Drucker ITS...what THEY say it is! Does anyone like this work in your Company? The Factors of Employee Engagement Get feedback on YOUR impact to the organization
Make engagement a key business strategy
Measure it – correlate to customer strategy
Do something with the findings
Create a culture strategy that engages your top talent
Hire engaged employees Where to Begin? Profile of Engaged Leaders What is the "New" Leadership? The New Employment Deal:
How Far, How Fast and How Enduring
Recession battered workforce with:
Security trumps everything! Source: Gallup