Talent Management Strategy for SMEs.docx
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Talent Management Strategy for SMEs.docx
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TalentManagementStrategyforSMEs
KobeLeefromHaygroupgaveusagreatpresentationabouttalentmanagementinChina.HeanalyzedthecurrenteconomicsituationofChinaGDPkeepsgrowingandChinaisstillequippingwithafastspeedengineer,howevertheinstabilityofexternalanddomesticeconomicenvironmentisincreasingandexportgrowthmaysoftentowardsthemid-singledigitsin2012.Insuchanenvironmentthevoluntaryturnoverrateskeepsinaveryhighlevel–variedfrom12.3%to21.3%from2008todate.
Kobethenlistedthestaticsof‘topreasonsofemployeejoiningacompany’and‘topreasonsofemployeesleaveacompany’.Bywhichhenaturallybringsouthispoint–Engagementistheimportantfactorforacompanytokeepitstalent,butthisisnotenough.Peopleneedstobe‘enabled’inadditionto‘engaged’.Forcombinationsofemployeeattitudescanbecategorizedbaseonthelevelofengagementandenablement:
Differentkindofemployeeswillbenaturallygeneratedbydifferentcombinationofengagementandenablementlevel.Wearehappytohaveeffectivepeopleinthecompany,buttheywillonlyappearwhenweimplementtherightpolicytoletthem‘engaged’and‘enabled’.Otherwisewemayhave‘detached’people–whoownsalotofpowerandantimonybuttheydon’tactuallycareaboutthethingshappeningaroundandeventhecompanyitself,becausetheyarenot‘engaged’,theyarenotwillingtocontributetothecompany.Anotherscenarioisthatwemayhave‘frustrated’colleagueswholovethecompanysodeep,whohavethedeterminationandabilitytocontributebuttheydon’thavesufficientpowerorrighttoexerttheircapability.Inworsecase,wewillhaveagroupofineffectivepeopleinthecompany–theyareneitherhighlyengagednorenabled,theyarenotwillingtocontribute,andnotcaringaboutthecompany.Inanotheraspect,eventheywanttocontribute,theyarenotenabletodoanything.Onecaneasilyforecastthatthecompanyisapproachingitsendoflifeifithastoomany‘ineffective’people.Thegeneralandcommonscenarioisthatacompanyusuallyhaveallthosefourkindsofpeopleworkinginit,sothenextquestioncomesoutnaturally–howdoweidentifywhichcolleagueareinwhichcategorycurrently?
Andhowdoweminimizethe‘detached’,‘frustrated’people,eliminatethe‘ineffective’staffandmaximizethe‘effective’employees?
AfterthatKobeproposedaframeworktoanalyze/improveemployees’engagementandenablementindex-EVP(Employeevalueproposition)andEE(EmployeeEffectiveness).Clearpromisingdirections,confidenceinleaders,qualityandcustomerfocus,compensationandbenefits…thesefactorsarethekeydriversforengagement.Performancemanagement,authorityandempowerment,resources,training,collaborationandworkingstructure,processarethekeydriversofenablement.Butpayingattentiontoalltheabovedriversandimprovingthem,wecanfinallyleveluptheengagementandenablementindex,andasaresultbringuptheemployeeeffectivenessandgivemoreemployeevalueout.Thenacompanywillhavehigherchancetoachievetheamazingsituation:
betterfinancialperformance,highercustomersatisfaction,strongbusinessresults,lowertalentattritionratesandbecomemoreattractivetotalents,andwillalsohavehigheremployeeperformance.
Kobe’sexcellentphenomenonisreallyamazinganditbothanalyzedChinesecompanies’currenttalentmanagementissuesandprovidedsolutionsforreference.Differentcompanieswillhavedifferentapproachtodefineandimplementtheirstrategyandpolicyfortalentmanagement,andtobringuptheengagementandenablementlevel.Toextendthediscussionabit,thisreportfocusonthesmallandmediumcompanies(a.k.a.SME)inChinaspecifically.SMEstaketheanimportantroleinChina’seconomyhowevertheyalsosuffersfromthehighestattritionrate.ThisreportwilltrytotakeadeeperlookattheChineseSMEsfromtalentmanagement’sperspective,andproposesomesuggestionsonthis.
AnoverviewontheSMEsinChina
Accordingtothestatistics,99%oftheformallyregisteredenterprisesareSMEsinChina,whichcontributes60%oftherevenueand40%ofprofitsofallthecompanies,andprovides75%ofthetotalworkingopportunitiesinthejobmarket.What’smore,60%ofthetotalexportsarecontributedbySMEs.AllthefiguresindicatethatSMEstakeaverycriticalroleinChina’seconomy,andhaveahugeimpactontheirregionseconomygrowthandsocialstability.
However,onecaneasilysensethatthelifecycleofmostSMEsarenotthatlong-lastingevenwithoutreferringtoanyauthenticstatisticdata.Variousreasonscanbefoundtoexplainthescenario,thegovernmentpolicies,themoreandmorefiercecompetitivemarketenvironment,incorrectmarketpositioning,financialcrisis…etc.Oneofthemajorreason,Ibelieve,isthetalentmanagementrelatedproblem–tobemorestraightforward,mostSMEslackcapableemployeestosupportitsoperation.
WhatkindoftalentaretheSMEsinChinalookingfor
SMEshavetheirowncharacteristics,sowhatkindofemployeeswillchoosetojoinSMEratherthanotherbigenterprises?
Asimplecategorizationbylookingintotheircurrentcapability,potentialandambitioncanbeasfollowing:
1.Peoplehavingaveragecapabilityandpotential.ThiskindofpeoplemaynotbeabletoenterthosebigenterprisesbutcanprobablyfindajobinsomeSMEs,anotherscenarioisthattheywererecruitedintothecompanyintheearlierstage,withthegrowthofthecompanytheymaynotbeabletohandlethebiggerresponsibilitiesorbiggerchallenges.
2.Peoplehavingaveragecapabilitybutgreatpotential,forexamplethefreshgraduates.Thiskindofpeopleusuallyworkforlearning,accumulatingexperienceinadditiontoliving,ormaybelearningisevenahigherprioritytothem.
3.Peoplehavingstrongcapabilityaswellasgreatpotential.Usuallythesepeoplehavestrongambitionsaswell.Theyarewillingandcapabletofightandgrowtogetherwiththecompany,canhandlecomplicatedissueindependentlyandcanachievethe‘missionimpossible’.
Ifwedeclarethattalentsarethemostcriticalfactorforacompany’ssustainabilityandgrowth,obviouslywecannotcallallofthethreecategoriesofemployeesas‘talent’.Actuallyonlythe3rdcategoryofemployeesaresuitable,andqualifiedtobenamedas‘talent’.Asifwetaketheloyaltyintoaccountaswell,ourcoretargetistokeepthe3rdcategoryemployees,andalsotheoneswithhighloyaltyincategoryoneandtwo.
AnalysisontheattritionreasonsinSME
Kobelistedthemajorattritionreasonsofdifferentagegroupsinhispresentation.ThesefiguresapplytothewholeenterprisesinChinaandofcourseSMEsarealsoincluded:
Totakeadeeperthinking,thereisanother‘why’weneedconsider–whywillanSMEmakeitsemployeehavetheabovefeeling–limitedgrowthopportunities,inadequatecompensation,havingissueswithdirectsupervisorsandevenfeelthathis/herjobsecurityisthreatened?
Maybethebelowtwopointsarethemajorreasons:
HumanResourceManagementImmaturity–ManySMEsdon’thaveaneffectivetalentmanagementfromstaffing,interview,subsequenttrainingandperformancemanagement.
Definingthecorrectjobdescriptionandthenrecruitingtherightpeoplefortherightpositionistheveryfirststepofstaffing,howeverthissimplestepisnotdonecorrectlybymanySMEs,whousuallyblindlyjudgethecandidate’scapabilitybyhis/herdegreeorgraduationschools.Theabovebehaviorwillleadtovariousbadfeelingsofanemployee.Heorshemayfeelfrustratedinthepositiondoesn’tfithis/hercapabilityandisnotchallengingenough,orintheoppositesituation,thepositionistoodemandingandobviouslyexceedstheemployee’scurrentcapability.Inaword,wrongpeopleinthewrongposition.ManyfamilyownSMEsevenletitsfamilymemberstotakeupalloftheimportantpositionswithinthecompany,withoutconsideringhis/hercapability–thissituationisevenworse.Itdeliversaverystrongsignaltoalltheemployees,especiallythemiddlemanagement,thatnofutureandnopromotionsispossibleforthemasthefamilymembersarethechosenones,thiskindofglassceilingorthreatenedjobsecurityfeelingwilldrivethetalentoutofthecompany.
InsufficientInvestmentOnTalentDevelopment–GenerallyspeakingmostSMEshavebeenlivingonthelowvalueaddedindustryforalongtime,whichleadstolowprofitmargin.Thosecompaniesdon’tevenhaveenoughinvestmentoftheR&Dforitsownproducts,nomentionthetalentdevelopmentinvestment.Sothisproducesadeadloopofthecompany–Itstalentscannotseethebrightfutureofthecompanyduetoitsslowgrowthandlowprofitmargin,andsincethecompanyisnotcompetitiveenoughintheindustry,itsemployeecannothaveafeelingofthejobsecuritybecausesometimeseventhecompanycannotmakeitselfsecuredinthemarket.
ProposedtalentmanagementstrategyforSMEs
Kobesuggestedtwosecretweaponstokeeptotalents–EngagementandEnablement.Therearealotofsub-elementsinthesetwoaspects,onekeythingistherewardandrecognitionsystem.
However,differenttalentasindividualwillhavedifferentvaluepursuit.Forexample,accordingtoHewitt’slatestresearch,motivationfactorsfordifferentemployeeswithdifferenteducationbackgroundsvaries–thetop3motivationfactorsforpeopleunderbachelordegreearewelfare,jobopportunityandrecognition;whileforthosewithbachelordegreetheyareresource,careeropportunityandcompensation;formasterorhigherdegreestheyareresource,challengingtasksandrecognition.
Sothereisnostandardtalentmanagementforallcompanies,thepolicyandstrategywill
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