TM - February 2008 - (Page 26)

recruitment & retention assessment & evaluation compensation & benefits performance management learning & development succession planning [assessment & evaluation]by Rick Tate and Dr. Julie White Al ternatives to 360 Assessments: The Manager’s Role The challenge for businesses is clear: To get and maintain a competitive edge, organizations must not only attract customers, they must attract and engage the most talented employees. The quality of the relationship between managers and direct reports defines an employee’s level of engagement, discretionary effort and loyalty to the company. eople do not leave organizations; they leave managers. The quality of manager-employee relationships depends on the quality of the management practices each manager uses. Talented employees will look for greener pastures when they have to endure deficient managers who: • Poorly articulate job expectations. • Employ vague, inadequate standards and measurements of performance. • Utilize faulty, manipulative motivation techniques. • Tolerate poor performance. • Are ineffective communicators and are rigid in their coaching styles. It is the manager alone who is the greatest catalyst for exceptional employee performance. The evidence can’t be any clearer. A recent global workforce study of 90,000 employees in 19 countries conducted by global professional services firm Towers Perrin showed: P • Just 21 percent of the employees surveyed around the world are engaged in their work, meaning they’re willing to go the extra mile to help their companies succeed. • Some 38 percent of employees are partly to fully disengaged. The result: a gap between the discretionary effort companies need and people actually want to invest, and companies’ effectiveness in channeling this effort to enhance performance. • Firms with the highest percentage of engaged employees collectively increased operating income 19 percent and earnings per share 28 percent year to year. • Those companies with the lowest percentage of engaged employees showed year-to-year declines of 33 percent in operating income and 11 percent in earnings per share. Assessments: Who and What? The critical influencer of whether employees are engaged is how individual managers and supervisors behave, and the impact of effective talent management practices is staggering. 26 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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