THIS IS PART 3 AND THE LAST.
Guidelines for Retaining TALENTED Employees
Develop a process to identify key individuals and positions needed in the
transition and in the new organization.
Focus on retaining the true "value creators" in the organization, not just top
management players.
Determine how long you need to keep various people on the basis of
business needs, and offer them stay bonuses as appropriate.
Assess employees against key competencies required for key positions. Use
these to objectively assess talents you will retain to meet important business
needs.
Remember‑when you dictate objectives, people show less commitment, but
when the process is collaborative, there is visibly more commitment. Involve
key talent in a "retention task force" where they can have input into
workforce planning and participate in discussions to help determine what it
will take to keep key talent in the new organization.
Determine which individuals will need to be relocated, if any, as early as
possible in the transition process.
Tell people what you know as quickly as you know it, and tell them what you
do not know.
Try to minimize the time that employees must endure a period of uncertainty
about whether they will be staying or leaving.
Consider developing a retention bonus plan for those considered absolutely
critical to the organization's success during and after the transition.
Understand up‑front that retention bonuses can have unintended
consequences and limited success. Those who get stay bonuses may be
seen as "the anointed ones" by those who don't receive such bonuses. Be
prepared to risk losing these people. Those who receive the bonuses will also
have a date by which they can voluntarily leave the organization and still
receive a bonus.
Approach all those you want to retain one‑on‑one and let them know they are
important to the organization's success. The simple phrase "I need your help"
has a kind of magic in it. "Re‑recruit" these people by letting them know what
is in it for them if they choose to stay on.
Try to retain all star performers and high performers even though their jobs
may have been eliminated in the reorganization. This is the same principle by
which professional sports teams draft "the best available athlete." However,
be mindful of the fact that if YOU cannot find a challenge that fits their talent,
you will not be able to keep them.
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WHAT THIS SAYS, THAT TALENT THRIVES UNDER
THE RIGHT LEADERSHIP.
THE LINE MANAGERS MUST BE PUT THROUGH AN USEFUL
DEVELOPMENT PROGRAM'' HOW TO MANAGE/MAINTAIN
QUALITY STAFF --TALENTS .
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6. How does one set up the Balance Score Card.
Implementation of a Balanced Scorecard (BSC) is a multiphase process that forms an integral part of an organization's operational control, strategic planning and measurement system. The process aims to convert a strategy into something that can be measured. Roughly speaking, the process consists of the following four phases:
1) planning, i.e. determining the organisation's direction and translating this into action;
2) practical implementation of the scorecard's objectives and communication of these into factors that measure practical action;
3) regular measurement and monitoring of objectives; and
4) annual navigation sessions and evaluations, as well as development measures resulting from these.
The BSC model is a framework for the organization's strategic basis and for the strategy preparation, implementation, measurement, monitoring and evaluation process. It is based on the perception of strategic management as seeing and shaping the future.
It is difficult to determine a completely universal procedure, as the necessary phases and schedule are specific to each individual organisation. Nevertheless, it is advisable to set up a specific project to implement the Balanced Scorecard and start work by determining objectives, tasks and responsibilities and by agreeing schedules. It is essential to ensure that the process does not become too complicated and that all staff within the organisation participate in the implementation process and related training sessions. It is also important to take the organisation's developmental phase and maturity into account when planning implementation. Implementation of the Balanced Scorecard (BSC) always entails change, which requires goal-oriented change management paying careful attention to the operating environment.
Preconditions
Assess whether your organisation is ready for change – implementation of a balanced scorecard means finding out about and working on areas of change.
Allocate resources – manpower, funds, materials.
Communicate your intentions right from the start – you cannot expect everyone to accept the new model and be enthusiastic about it (after all, it means a lot of work for everyone).
Do not forget to train members of the organisation on how to use a balanced scorecard
Benefits
The balanced scorecard is intended to be a strategic system for managing a whole portfolio of programmes within an organisation – it helps to cope with complexity and diversity.
It raises the visibility of programme performance – not only in traditional on-time, on-budget terms, but also in terms of strategic significance to the desired outcomes of the whole school/organisation. So, if you know that you are working on a programme that is vital and strategic, the balanced scorecard and its measurements can help you defend your programme.
You have the right to define what metrics will be used to measure your programme's performance. You also have the authority
A balanced scorecard is an effective way of guaranteeing that agreed objectives and strategies are implemented – as performance has to be measured in specific metrics at set intervals.
Organisations – have to face up to customers' demands . The balanced scorecard and its inherent metrics are a good way to prove the effectiveness of customer service.
Organisations need to focus their limited resources efficiently in order to achieve mission effectiveness and value for their customers and other partners, such as stockholders, suppliers etc. The balanced scorecard provides a comprehensive framework that will help the management to define strategies, track performance and provide data to show their various customer groups how well they are performing in terms of mission, values and outcomes and effectiveness.
The lessons learned from balanced scorecard processes provide a lot of hints and directions for organisational development (development of programmes, etc.).
The balanced scorecard allows managers to identify best practices within an organisation and to expand their use elsewhere.
The balanced scorecard reduces risk for an organisation by supporting better and faster decisions based on relevant data and experiences (comparability within an organisation).
The balanced scorecard is easy to combine with support for other steering systems.
Dos
Integrate implementation into existing management and steering structures.
Make clear to every member of the organisation that implementation of a balanced scorecard takes time.
At management level: show your commitment and support! Allocate resources to this important project – manpower as well as funding.
Base implementation on existing development initiatives (such as BUDGETING or TQM or other quality initiatives) – show that you can build on the work done to date.
Develop meaningful metrics for your organisation/school – make sure that measurements are derived from the organization's strategy and provide critical data and information about key processes, outputs and results.
It should provide strategic feedback to show the present status of the organisation from many perspectives for decision-makers.
It should deliver diagnostic feedback to various processes to guide improvements on a continuous basis.
It should be possible to track trends in performance over time.
Don't forget to develop feedback around the measurement methods themselves as well.
Learn from best practices through benchmarking etc.
Don'ts
Do not implement the balanced scorecard, if your organisation is not ready for change.
Do not try to implement a balanced scorecard, if your organisation does not have sufficient resources (manpower and funding).
Do not try to implement a balanced scorecard, if the management does not support the project.
Speed kills – don't try to be too quick. Allow approximately 2 years for complete implementation.
Do not rely solely on external consultants or individuals – involve management and staff more widely.
Limit the number of metrics to the essential ones – try to ensure validity.
An example of implementation
An ideal process of implementation of a balanced scorecard could involve the following steps:
Assess your organisation (maybe you already use assessment tools such as TQM / BUDGETING)
Identify strategic topics
Define perspectives and strategic objectives
Develop a strategy map
Derive performance metrics
Work out and prioritise strategic initiatives
Communicate
Cascade the BSC through the organisation
Collect data, evaluate and revise.
IT MIGHT A GOOD IDEA TO USE AN EXTERNAL CONSULTANT AT THE POINT
ESTABLISHING ANNUAL PLANNING / BUDGETING , SAY FOR FOR THE FIRST
SIX MONTHS.
REGARDS
LEO LINGHAM