SIOP Consortium Aims to Offer Strategies for Attracting and Keeping Talent
Clif Boutelle
As millions of baby boomers approach retirement age, employers should be giving thought to replacing them with the best possible workers. In addition, they need to focus on retaining their top performers, who, surveys show, are increasingly ready and willing to jump ship for something better.
It has all the making of a perfect storm for HR managers.
Some solid advice and thinking on the subject is on the way. SIOP’s second annual Leading Edge Consortium will focus on the key issues of talent attraction and retention.
The consortium, which will feature some of the leading researchers and practitioners in talent attraction, development, and retention, will be held October 27–28 in Charlotte, NC.
Fritz Drasgow, general chair of the event, said a group of presenters with a wealth of experience and knowledge in the recruitment, development, and retention of talent will provide useful strategies and tactics. “Moreover, this is an interactive event that will bring together both practice and science and give participants ample opportunity to talk with presenters and each other,” he added.
Keynote speakers for the 2-day SIOP consortium will be William Macey, CEO of Valtera Corp., a Chicago-based management consulting firm; Robert Eichinger, CEO of Lominger Ltd., a consulting organization in Minneapolis, and Leslie Joyce, vice-president and chief learning officer of Home Depot.
In addition, the consortium will include modules on innovative practices in the best companies to work for; strategies in talent management; attracting and retaining diverse talent; emerging practice and research trends; state of the art practices in talent development, and talent management from an international perspective.
Also, case studies on leading-edge talent management practices are being gathered and will be presented as part of the consortium module focusing on innovative practices in some of the country’s top organizations.
The 2005 Emerging Workforce Study, conducted by the Florida-based recruiting and staffing company, found that fewer than one in five employers is positioned for the future to recruit and retain top talent.
The study also showed key differences between workers and employers on issues that affect retention. For example, nearly two-thirds of workers rated time and flexibility as key factors in staying on the job, but only 35% of employers felt they were important issues.
In fact, according to the study, only 34% of HR managers consider employee turnover and retention as a major concern.
Yet, many managers are seeking to slow down turnover rates, which in some industries borders on the chronic and are always costly. Some companies say that replacing a departing employee costs the company about a third to a half of that employee’s pay.
And workers’ wants and needs have to be considered like never before. An uncaring supervisor, a mean colleague, unsatisfactory work assignments, or a stifling corporate culture are only a few of the reasons why workers look for greener pastures.
In fact, some companies may need to fine tune their corporate cultures to adapt to a changing work force.
It all means challenging times ahead for executives in human resources, organizational development, and other executives for whom talent management is a priority.
For more information about the consortium and to register, visit the SIOP Web site at www.siop.org or call the SIOP Administrative Office at 419-353-0032.