Talent Attraction & Retention – High Tech
This high tech industry leader conducted internal research indicating that high performers stayed with the company not only because of good pay, but also because of interesting work and growth opportunities.
- 34% worldwide price drop of component prices over a two-year period.
- Increased competition in terms of speed to market, customer centricity and offerings
- High Sales and Marketing attrition particularly during the first and fifth years of employment
- Analyzed the organizational capabilities needed to deliver on the short- and long-term strategies
- Identified attracting and retaining high performers as the number one priority
- Defined the psychological contract required to attract and retain high performers (i.e., If you give me X, I’ll do Y)
- Identified key learning & development and career opportunity improvements required to deliver on this new promise
- Designed new HR programs and created tools for managers to deliver on the new promise, including:
- Critical competencies for each role
- Career paths and promotional criteria
- High-performer acceleration process and programs
- New selection tools to select the best (and the best fit)
- New performance management process
Approach – cont
- Trained managers so that they could understand and explain the new implicit employment contract and new tools to aid in recruitment, selection, recruitment, & promotion
- Trained hiring managers how to conduct a behavior-based interview
- Decreased unwanted turnover from 18% to 13%
- Increased rate of acceptance on job offers extended from 30% to 75%
- Increased talent pipeline by improving interest in organization at campus recruiting events
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