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Richmond Events' Business Panel Report - Talent Management


Headline findings include:

  • Almost 2/3 of responding organizations have a talent management program in place within their organization, whilst a further 23% admit to having a ‘sort of / informal’ one. 
  • For the majority of organizations the talent management program is designed by the HR department.
  • For over ¾ of the panel their talent management program is run in-house, whilst for a further 18% it’s run with a combination of in-house personnel and outside agencies / trainers.
  • The # 1 motivation for a talent management program is succession planning.  This is followed by staff retention, which may suggest that in order to keep your best employees you need to offer them ‘benefits’ such as a talent management program.
  • Only 2% of organizations run a program because their competitors do (thankfully), whilst only 5% say it effectively cuts waste, where ‘waste’ means individuals are trained, only for other companies to reap the benefits.
  • Internal training is the most popular area covered within talent management programs, which makes sense on the presumption that future leaders must know the workings of their organization from top to bottom.
  • Organizations have had their talent management program in place for an average of 5.4 years.
  • Operations and IT are the most represented job titles in an organization’s talent management program.
  • Just over 10% of the panel think the existence of a talent management program will have a significant bearing on its share price, whilst a small minority feel it may significantly improve the attractiveness of an organization to potential investors. 
  • A much higher percentage the panel feel a talent management program may significantly improve the attractiveness of an organization to potential new employees.
  • The average annual cost of a talent management program is $259,032.
For full report http://revents.info/l/6r0

2014 HR Forum - Event in Review


Last week’s Human Resources Forum, June 1-3 at the Four Seasons in Dallas, TX was a huge success, with 100% of Delegates rating their experience as very good or good (4.6 average on a scale of 1-5) and nearly 80% of Supplier Companies immediately booking their place at next year’s event.
 
Companies averaging 44,481 employees were represented, from multiple industries, with a strong presence in healthcare, financial services and retail. CHROs, and HR VP Generalists, Directors of Talent Management, Compensation, Benefits, Acquisition, Development, Training, Effectiveness and more; the HR department powerhouses all under one roof, with a common mission - to network, learn and find solutions.
 
Setting the tone for the opening of the 2014 HR Forum on Sunday evening, with his heartfelt leadership style, was keynote speaker Garry Ridge, CEO of WD-40 Company.  In his compelling presentation, Ridge addressed that even in tough times, creating a tribal culture among employees and a sense of belonging - and removing the biggest obstacle to learning – fear, will truly enable companies to engage their people, build a great place to work, and improve employee performance, job satisfaction and retention.
 
#LearningMoment Fact: WD-40 produces $1M in revenue per employee!
 
Following Ridge’s keynote, the group mingled their way into the foyer for the welcome cocktail reception and a series of 8 minute speed dates - executive style, all pre-arranged meetings. For HR leaders meeting with peers - a quick-fire exchange of challenges and best practices. For Suppliers meeting buyers – a quick “cup of tea” conversation to determine a match or not and where a potential relationship could go.
 
The most popular areas for discussion and top areas where delegates were seeking solutions centered around Employee Engagement, Change Management, Organizational Culture, Succession Planning, Rewards & Recognition, Performance Management, Coaching & Leadership Development, HR Metrics and Wellness Programs.
 
Over the next day and a half over 1000 meetings took place between senior HR leaders and suppliers to the industry, one-on-one, and over meals with peers, as they discussed the critical challenges facing their companies and their people, developing new relationships and mutually beneficial partnerships and solutions.
 
91% of Delegates rated their meetings with Suppliers as Good or Very Good and 69% said they were useful meetings that were unlikely to happen otherwise, stressing the importance and value of face-to-face meetings.
 
So far, 66% of Delegates are arranging further meetings with suppliers they met, 49% are asking suppliers to pitch for a specific project and 22% intend to commission work with a supplier based on their meeting at the HR Forum alone. 100% of suppliers expect to see ROI, majority within 3-6 months.
#HowDoYouBizDev?
 
Continuing the keynotes on day two, Sheldon Yellen, CEO of BELFOR, delivered what many were referring to as the most honest and inspiring presentation they ever heard. Known from his appearance on CBS’ hit show Undercover Boss, Yellen took us on a story of his own life and how his appearance on the show and actually getting to know his employees, transformed him to become the leader he is today - leading from behind, putting people first and his “be humble or get humbled” philosophy.
 
It was clear that HR leaders really appreciated the CEO perspectives of both Ridge and Yellen, and left recharged and inspired to return to the office ready to make a measurable impact to their business and their people, reiterating the importance and effectiveness of effective leadership, starting from the top-down.
 
Other popular conference sessions and discussion groups amongst Delegates focused on:
-      The Power of an Engaged Organization
-      Employment Branding Strategies to Stand Out from the Pack
-      The Realities of Recruiting
-      Starting with a Moral Purpose: Driving Business through Sustainability
-      GenZ – Adjusting to the Changing Needs of Tomorrow’s Labor Market
 
The next Richmond Events’ Human Resources Forum will take place June 7-9, 2015 at Omni Barton Creek in Austin, Texas.
 
For more information, please contact Project Manager Brielle Pope at 212-651-8713 or bpope@richmondevents.com.

Richmond Events' Business Panel Report - Attitudes to Suppliers


Headline findings include:
  • 6% of the panel will meet over 50 potential new suppliers per year though none will appoint this many. 
  • On average the panel talk to 18 potential suppliers over the course of a year.  They then appoint on average 5 new suppliers per year – i.e. just over 1 in 4 (or 28%) of the companies they meet.   
  • The average number of suppliers that the panel employs over the course of a typical year is 28.  This can be further broken down to 23 (82%) existing and 5 (18%) new.
  • Only a minority of companies always employ a formal tender process or a short list system when appointing new suppliers.
  • In terms of input from other departments during the appointing of new suppliers, procurement are most likely to be involved, finance and legal in some cases and HR less so.
  • The 2 top ways of sourcing potential new suppliers are recommendations / word of mouth and through meeting at a conference. 
  • No surprise that in this day and age price is the number one factor the panel looks for when compiling a shortlist of suppliers. This is closely followed by product quality and flexibility.
  • 82% of the panel have asked some of their suppliers to re-quote their prices over the last few years, with the average number they’ve asked being 30%.
  • However the majority of the panel has not changed their payment terms
  • Over half of the panel has brought work back previously outsourced work in house.  Of those that have done so the average amount (they’ve brought back) is 13%.
  • The majority of the panel is quite prepared to ask suppliers to re-quote in order to match a lower price, with only 6% saying they would never do so.
For full report http://revents.info/l/6qk

Hire for attitude to boost business


David Smith, Author, Business Speaker & Consultant and Former People and IT Director at Asda was our morning keynote speaker at HRL11 at Savoy place. Posted below is an article by Vanessa Townsend, Journalist & Reporter, Recruiter Magazine, who attended The Human Resources Forum on Tuesday 1st November.

smith-(1).jpg
Hiring people with the right attitude is the most important action a failing business can take, David Smith, former people and IT director at Asda, told an audience of HR specialists in London earlier this month.

Speaking at the Human Resources Forum, Smith told of his experience at Asda, where he helped turn around the retail giant’s fortunes by what he termed “seven principles of what it takes to make a failing business work”.

His first point in his “action agenda”, he said, was that Asda began hiring for attitude. “Recruitment is quite polarising,” he said. “You can switch people on or off through the new people you’re hiring.” He explained: “Current staff will either say, of your new hire, 'who’s that? She’s great’ or ’who hired him? He’s rubbish’.”

The next principle was communication. “It’s very important to make everyone in the organisation feel in the loop,” he said. Next was listening. “If a business really listens then you improve your employee engagement,” Smith said. “In leadership, you can easily get above the clouds and not know what’s happening on the ground.”

Leadership was another principle to challenge. “Command and control leadership is not very motivating,” Smith said, and he urged the audience to change the leaders in the organisation who weren’t appropriate.

His fifth principle, which he admitted wasn’t a popular subject, was to “push talent and remove under achievers”. “It’s very British to avoid dealing with under performers,” he admitted, “but it’s necessary, though, to create holes in which to move people up.”

He believed pay wasn’t the most important motivational tool for employees. “Often employees are just wanting the leadership to say thank you,” he said. And his final principle was around community. “Give people permission to have fun,” he concluded. These principles led to Asda being voted one of the best places to work for five years running in The Sunday Times survey.

2011 HR Forum Post Event Review


On 18th-21st of May and Tuesday 1st of November 2011 a combined total of over 400 HR practitioners, service providers and industry experts joined together on-board the Aurora and at Savoy Place in Central London to debate the burning issues of the day, forge new partnerships and develop personal networks.

This Event Review covers just a few of the highlights from the two events.

Click here to read the full review


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