RETAINING TOP TALENT BY TRAINING & PAY
Talent Retention is a hot issue in organizations, regardless of whether the economy is declining or booming across all industries and countries. The challenge to retain key talents in order to sustain a competitive advantage preoccupies the minds of many business leaders.
The modern talent has an array of employment options. One question that arises in this context is: how can remuneration and training foster employee commitment? Research reveals that, even though pay and benefits count, one cannot depend on money alone to retain talented employees. Among other things, key motivators include opportunity to learn and grow and recognition of achievement.
This program will cover various areas such as pay and benefits, but also key motivators, which go beyond money such as training, promotion and transfers. HR Professionals attending this course will master the competencies to effectively deal with employee retention, primarily of marked talent in the organization.
After the successful completion of this comprehensive training course, participants will be able to:
- Understand the meaning of employee retention in context of organizational workforce.
- Discover the key aspects of talent retention and why it is important to the company.
- Learn to effectively manage Reward systems and utilize them to conquer retention.
- Work to design a Pay structure which is compatible to the organization and all functions.
- Describe the issues to consider when making promotion decisions at the company.
- Accurately identify immediate as well as long term training and development needs
- Understand the key aspects of training and the role it can play in retaining talent.
- Describe the methods for enhancing diversity through career management and planning.
- Answer the question – How can career development foster employee commitment?
- More effectively manage promotions, transfers, retirement, disciplining and dismissal.
- Group Live and Instructor-led Classroom Track
- PowerPoint presentation, with pointed breaks to stimulate discussion by the participants.
- Participative Classroom Activities, including:
- Ice-Breakers and Energizers
- Behavioral Role Plays
- Focused Video Playback
- Guided Group Discussions
- Management Case Studies
- Human Resource Managers, HR Business Partners, HR Consultants and related HR professionals.
- Business Leaders, Functional Heads, Line Managers and Supervisors having subject interface.
- Corporate Practitioners, including specialists, consultants, managers, supervisors and employees with some related experience who wish to advance their functional expertise and competence.
- Pre-Assessment to gauge current level of conceptual understanding and customize training delivery.
- Session-based Practical Exercises, Reflective Quiz and Peer-group Notes Sharing and Evaluation
- Final Course Assessment, in a test environment, capturing course retention and learning.
COURSE STRUCTURE AND AGENDA
UNDERSTANDING EMPLOYEE RETENTION
- What is Employee Turnover?
- What is Employee Retention?
- Introduction and objectives of Retention
- Making the case for retention
- Key roles to retain – CXO or the Producer?
- The challenge of retaining key employees
- How to win the war for talent?
- Is Talent a Priority in your organization?
- Reality check
DESIGNING A PAY STRUCTURE
- What is Reward management?
- Reward strategies
- Base pay
- Bonuses, benefits and incentives
- Equal pay reviews
- Designing a base pay structure
- Practice exercise
- Role of the Employee in Career Development
- Role of the Manager in Career Development
- Role of HR in Career Development
- Role of the Organization in Career Development
- Issues to consider when making promotion decisions
- Transfer, retirement, disciplining and dismissal
- How to conduct the Exit interview
- How to foster employee commitment?
- Practical exercise
- What is talent development?
- Importance of talent development
- How to identify that you have a need?
- What should a training needs analysis cover?
- Identification of needs at individual and organizational level
- Residual, present and future needs
- Design a training session
- Framing effective learning objectives
- Types of learning
- Key training methods
- Identifying and selecting trainees
- Going Live with the Talent Development Program
- Conducting Training Evaluation
- Case study
BEST PRACTICES IN RETENTION
- Modern Talent Retention – The Superstar’s Checklist
- How do Fortune 500 companies approach talent retention
- Key best practices to emulate and replicate in talent retention
- Common Retention Pitfalls – Avoiding blunders
- Practical exercise