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October 2004
So who is next in line…..?
Dont leave it until your critical employees leave before you consider how to manage without them. Remember "Failing to plan is planning to fail !"
Did you know?
A few facts that may surprise you.
Succession planning or talent management is the preparation to replace one member of staff with another. How this is managed reveals much about your organisation and the value you place on your employees. Talent management is an integral process that begins long before the member of staff leaves your organisation. It not only provides you with the opportunity to understand what ‘talents’ lie within your organisation but also allows you to maximise the potential of these talents and gain a competitive advantage. Demographic changes point to ‘the aging population’ and in turn it requires us to look internally to grow talent from within
At the same time, the competition for outstanding individuals means that retention of people an additional concern for organisations. Any organisation that doesn’t consider the way in which staff development can counter the threat of high turnover – and subsequent loss of knowledge and experience - are at a disadvantage.
Employees will always look to progress in their careers it’s a fact of life but where your staff look for their next challenge is significant to your business. If opportunities are not made available internally employees will look outside of their current work-place for the opportunities they consider important for progression.
‘Progression’ is not just a move up the ladder or an increase in salary, ‘progression’ can also be described as expanding knowledge or acquiring new skills and unless your organisation provides a platform for individual development, you may find that employee retention within your organisation decreases dramatically particularly if your competitors are providing attractive employment packages for their employees.
Most companies would agree that high labour turnover negatively affects their organisation, in areas such as productivity, reputation etc and the most common reasons for which relate to the lack of career and developmental opportunities, changes in career and pay. It’s expensive too, on average turnover in the UK costs the employer £4,301 per leaver, multiply that by the number of leavers in a year and the figures speak for themselves, consequently reducing turnover levels by a few percentage points can result in significant savings.
For advice on managing talent and training needs analysis call us on 01473 890037
- The citizens advice bureau received over 560,000 calls from employees during 2002/2003 regarding employment related issues, the most popular of which included problems relating to disciplinary, dismissals and terms and conditions of employment. The Bureau is now turning to HR professionals to work as volunteers to help them serve the community.
- UK companies lose around £750 million a year because staff have poor foreign language skills. Of the 950 foreign companies surveyed ¾ of them decided not to use a UK company because staff only spoke English – (for interpreter services contact Picasso HR
- According to a recent TUC report, around 14.8 million working days are lost each year because of alcohol abuse at a cost to the economy of over 2.3 billion per year. If you are aware that your staff are drinking even if their performance is unaffected you should approach them. As an employer, under health and safety legislation, you have a duty to ensure, as far as reasonably practical, the safety and welfare of your employees. If you knowingly allow a member of staff to work under the influence of alcohol or drugs and their behaviour potentially puts others at risk you could be prosecuted.
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