may 20, 2015 david o’brien – workchoice solutions, llc and its impact on your bottom line the...
TRANSCRIPT
May 20, 2015
David O’Brien – WorkChoice Solutions, LLC
and its impact on your bottom line
The ROI of Performance Management
HRACC Breakfast Learning Event
Presented by WorkChoice Solutions, LLC
Program Goals
Build a framework for gaining executive support Create a context for optimizing performance management Assess your current organizational capacity / strategy Explore the engagement / accountability / coaching ink Provide tools for increasing the
impact of performance management Develop an employee specific
performance management plan Think, Share, Learn
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Leadership Thought To Consider
Presented by WorkChoice Solutions, LLC 4
“The first responsibility
of a leader is to define
reality”
– Max DePree
Creating A Context
The ROI of Effective Performance Management
• Increased Capacity & Contribution• Increased Engagement• Increased Morale• Increased Retention• Increased Competitiveness • Increased Customer / Stakeholder Satisfaction• Increased Profit Margins
Bonus question: What have I missed?
Presented by WorkChoice Solutions, LLC 5
Something to Consider
It starts with the attention given to the individual appraisal
Most leaders including the Chairman, spend at least 30% of their time on talent related issues
Talent assessment and development is a key business agenda, not just an HR activity
“The power lies in giving our people the attention, candid feedback and development they deserve” – Raghu Krishnamoorthy
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The Secret Ingredient in GE’s Talent Management System
Source: HBR, April 17, 2014
Today’s Challenge & Opportunity
Millennials represent 36% of today’s workforce This number will swell to 75% in only 10 years 10,000 Baby Boomers turn 65 each day 90% of Millenials expect daily feedback & recognition 88% of Millennials don’t view $ as their main motivator 75% of Millenials want mentoring & learning opportunities Average Millennial tenure in 2014 was 1.8 years Due to economic uncertainty, many Baby Boomers are
delaying retirement
Presented by WorkChoice Solutions, LLC 7
2015 - The Year of the Millennial
Source: Dr. Bob Nelson
Tapping Your Wisdom
What successful strategies do you employ to turn this challenge into
an opportunity?
Presented by WorkChoice Solutions, LLC 8
5 Minute Group Brainstorm Activity
Presented by WorkChoice Solutions, LLC
Creating A Foundation of Understanding
What Performance
Management Is,
– Open dialogue– Supportive – Honest & Respectful– Success Oriented – Ongoing
What Performance Management Is Not,
– Psychotherapy– Overly complicated– Limited to poor performers– A time / resource drain– Optional
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Presented by WorkChoice Solutions, LLC
Developing A Performance Management – Coaching Context
Key Dimensions to Consider
Outcomes & Impact
Behavior & Motivation
Learning - Acquiring new skills
Mastering change / resilience
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Bonus Question: And the key message here is what?
Presented by WorkChoice Solutions, LLC
Examining The Performance Management Process
Identify issue Define impact, consequences and value (Think WIIFY)
Establish agreement that the issue exists Explore and define
appropriate solution(s) Follow-up, support
and measure Acknowledge progress
and success
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Presented by WorkChoice Solutions, LLC
Key Questions
Who - Target success
What - Issues & Opportunities with examples
Why - Impact, Consequences, Value
How - Feedback, Lessons, Training
When - Short term & Long term, measurable / doable
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of the Performance Management Process
Presented by WorkChoice Solutions, LLC
The Case for Performance Management
What are the benefits to the individual?
What are the benefits to the team?
What are the benefits to the leader?
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Exploring The What’s In It For Everyone context
Group Brainstorm Activity
Presented by WorkChoice Solutions, LLC
Key Success Ingredients
Trust Respect Honesty Support Metrics Ownership Confidentiality
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Presented by WorkChoice Solutions, LLC
Performance Management Fails When You,
Assume that the person understands the issue Talk in generalities not specifics Don’t get the person involved in the solution Focus on attitude instead of behavior Don’t monitor progress and follow-up Assume that success comes in short order Only focus on the negative Don’t provide positive reinforcement
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Presented by WorkChoice Solutions, LLC
Leadership Food For Thought
“Giving timely and specific feedback is the quickest, cheapest and most effective intervention for improving employee performance”
– Ferdinand Fournies from his book
Coaching For Improved Work Performance
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Presented by WorkChoice Solutions, LLC 17
Choosing The Right Words
Step A: Identify the need What message should you send? What impact will your words have?
Step B: Determine the key words and behavior What words and behaviors capture the essence of your message?
Step C: Practice Do the words create a safe / supportive environment? Do the words reduce anxiety and fear?
Step D: Fine tune Do the words sound natural to you? Do they capture your intent?
A Framework To Consider
Presented by WorkChoice Solutions, LLC
Developing Your Performance Management Game Plan
Employee Issue Examples Solutions
Time line Metrics Follow-up Recognition
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Key Considerations
Solo Activity
Solo Activity Debrief
What was most helpful about the Performance Management worksheet?
If you could add just one more item to the worksheet, what would it be?
How can you use this performance management tool within your organization?
Presented by WorkChoice Solutions, LLC 19
HR Support Resources
Please Visit:
www.workchoicesolutions.com
Key words: Learning Resources
Presented by WorkChoice Solutions, LLC 20
Presented by WorkChoice Solutions, LLC
Leadership Thought For Today
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Bonus Questions: Why does this exchange matter?
What value does it create for us as HR professionals?