Now running for the 5th year, the much anticipated Annual EMEA HR Summit, will be held in London, 16 – 18 November 2016.
This year, the main focus of the HR Summit 2016 will fall on Europe, Middle East and Africa region. The summit is aimed at global HR leaders from mature, as well as emerging economies of the region. This summit will touch up on game-changing HR initiatives and the global economy.
One of the Speakers of EMEA HR Summit , Gyan Nagpal- bestselling author of Talent Economics shares his 4 Tips on How to Retain and Develop Talent. Gyan will be facilitating the ‘Talent 2025’ masterclass, part of the EMEA HR Summit, 16-18 November 2016.
1) Open the doors
We must drop the mind-set of scarcity. Several companies report that they struggle to find talent. As I explained in the Neil Armstrong example (see the first blog above) – the numbers tell us this isn’t a problem of availability of talent. It is in fact a problem of employers providing limited entry points and limited internal mobility for talent.
2) Think beyond Full Time Employees
Open up to what I call the Open Talent Economy. I believe every business has a unique talent recipe. A perfect blend of internal and external capability which can survive market volatility. This hedges against the binging and purging of headcount with every market shift, which is unfortunately very common today. One way of really appreciating the Open Talent Economy is through deep diagnosis (studying and understanding). Every organisation exists in a unique talent ecosystem, which depends on factors like geographical footprint, industry, rate of innovation, revenue streams and technology changes within our business.
3) Refocus people management
Our current management toolkit comes from the industrial age and its factory shop-floor realities, and includes artefacts such as overseeing work, driving performance and motivating via monetary incentives. The shift to a knowledge economy has proven devastating for management. Workers dealing with complex cognitive tasks seek coaches rather than supervisors and managers.
Moreover, the nature of intellectual work makes it difficult to supervise and control in the short term. That’s why managers are increasingly struggling to integrate effort across the network of alliances, outsourcing relationships, joint ventures or partnerships that form the footprint of modern business. Today’s management shouldn’t be about overseeing an ever shrinking base of internal headcount. Instead, it is more about curating capability or contribution across a network of sources.
4) Generate “Flow”
In “Talent Economics,” I described a “flow organization” – an organization where everyone has the space, time and support to sharpen the axe. The first step to generating flow is through an atmosphere where employees feel comfortable sharing their ideas. This takes courage. It also takes a genuine invitation, and we must teach managers to coach and champion employee genius. The more examples you showcase, the greater flow you generate. The best talent values this, with many reporting professional development and learning on par with compensation as a career driver. In high-flow cultures, employees don’t turn up just for a paycheck or to fulfill a routine need. They turn up bright-eyed because they have an idea in play.
How to Join EMEA HR Summit
Do not miss the opportunity to join Gyan Nagpal and leading HR Professionals at the EMEA HR Summit to build talent foresight.