TM - February 2008 - (Page 22)

recruitment & retention assessment & evaluation compensation & benefits performance management learning & development succession planning [recruitment & retention]by Diane Pardeeby Kathleen K. Lundquist, Ph.D. Those Who Have Left: The Value of Building Employee Relationships Strong relationships have always been important assets in the workplace. Today, as business becomes increasingly global and professionals work together across countries and time zones, managing and maintaining workplace relationships has become more challenging than ever, creating a need for new ways to build the powerful connections and communities that drive business success. Camaraderie between co-workers fuels much more than new business leads — relationships are also key drivers for recruiting, engagement and retention. What happens to relationships when someone leaves to move on to another opportunity or retires from the workforce? How can organizations continue to maintain, cultivate and mine these relationships and the associated institutional knowledge for business value? The solution: Build lifelong relationships with employees to ensure an ongoing dialogue and connection that can be leveraged even after they have left. Many organizations have viewed the employee life cycle as “hire to fire” — a typical variance on sourcing, recruiting, hiring, on-boarding and development, ending with eventual off-boarding. But attitudes have come full circle. Brick-and-mortar companies first encouraged lifelong employment. Later, as business models evolved, they moved toward a model of just-in-time employment and the hire-to-fire cycle. Today’s organizations rely on knowledge workers rather than on bricks and mortar to build value, and thus must focus on lifelong relationships with their employees — in many cases this is similar to their customer approach — rather than lifelong employment or the hire-to-fire modality. This new paradigm meets the needs of both employers and employees. Organizations require knowledgeable, just-in-time talent pools to staff business as it evolves. Individuals are much more self-directed and motivated by their own professional development. Companies that can help individuals develop throughout their lifetimes, whether or not they are current employees, will benefit from their loyalty and interest. Progressive organizations, such as Dow Chemical, Eli Lilly and Deloitte, understand building and maintaining lifelong relationships — from interns and employees to corporate alumni and retirees — helps them maintain access to important institutional knowledge, goodwill and opportunities to rehire former employees back into the organization. Corporate Social Networking: Build and Enable Lifelong Employee Relationships With the advent of Web 2.0 technologies and the prevalence of consumer social networks, companies are turning to social networking enterprise solutions 22 February 2008 talent management magazine www.TalentMgt.com http://www.TalentMgt.com

Table of Contents Feed for the Digital Edition of TM - February 2008

Talent Management - February 2008 Editor's Letter - Talkin' 'Bout My Generation Contents Human Performance - Achievement Motivation: Top Talent At Any Age Leading Edge - Who's On First? Foundations - Managing the Next Generation Workforce Viewpoint - Talent Strategies That Work Are Talent Strategies That Stick Those Who Have Left: The Value of Building Employee Relationships Alternatives to 360s: The Manager's Role Compensation and Benefits For X&Y Build A Multigenerational Performance Management Strategy Development's Role in Creating A Culture Of Inclusion Tomorrow's Leader: Identifying the Next Generation Integrating Talent Management Systems Strategically Seagate Uses Yearlong Evaluations to Help Integrate Talent Efforts Western Union: Connecting Strategy and People Globally Advertisers' Index Editorial Resources Full Potential - The Best Time to Change? Right Now!

TM - February 2008

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