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BUAD_304_Lecture_6v1

BUAD_304_Lecture_6v1 - BUAD 304 Leading Organizations...

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BUAD 304: Leading Organizations Lecture Session #6 Leader as Developer of Talent Leader as Change Agent
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Human Resource Management Selecting the right  people Training &  developing them Evaluating    performance Rewarding  performance Union-management  relations
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The Talent Problem w Problem: 60% of jobs in 21st Century will require skills that only 20% of the population possesses w Why is this? n Baby Boomers leaving the workforce will outpace the number of qualified Gen-X’ers and Millennials entering the workforce n Many Millennials have different values (e.g., autonomy; want to shape their jobs) n Globalized economy increasingly requires professionals with skill sets that many don’t have
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The Talent Problem cont. w Evidence of the trend: n 75% of major corporations list talent retention and development as one of their top priorities n 25% of major corporations list talent as their absolute #1 priority n These numbers are rising w Result: Due to the massive talent shortage, corporations are challenged with getting more out of their current talent pool through innovative retention and development strategies
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The Talent Problem cont. w Why should you care? n The talent shortage will challenge business leaders across all industries n Affects your job prospects (opportunity) l Those who have the ability to think strategically about talent management will add tremendous value as the talent crisis continues to grow
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Attracting and Retaining Talent: Two Examples
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What company is this?
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Google’s “Employment Brand” w Goals n Attract & retain best talent n Show employees they are valued n Facilitate working long hours w Benefits (examples) n Free gourmet food n Fitness center & spa n In-house doctor & nutritionist n Dry cleaners n High tech bus to work Downsides of this strategy?
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Video Jim Sinegal Costco CEO
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Costco’s HR Practices w What does Costco value?
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