COF, or Capital One Financial Corp. (NYSE: COF) is a U.S. based bank holding company specializing in credit cards, home loans, auto loans, banking, and savings products. A member of the Fortune 500, the company helped pioneer the mass marketing of credit cards in the early 1990s, and it is now the fourth largest customer of the United States Postal Service and has the 8th largest deposit portfolio in the United States.[3][4] It has its corporate offices in Tysons Corner, unincorporated Fairfax County, Virginia, near McLean.
Maintaining workforce stability, reducing turnover and minimizing attrition form the human resources function referred to as employee retention or retaining talent. Employers that realize the value of human capital devise a number of ways to improve employee retention. One method is restructuring the performance management system. The performance management system helps an organization become successful by monitoring and evaluating employee performance.
It is time for our profession to start thinking about how we are going to align ourselves as strategic partners rather than merely being transactional service providers. Top search professionals understand that their clients are looking for consultants who can give them expertise and serious consultative advice beyond just who to interview. The Society of Human Resource Management (SHRM) reports that 6 of the top 10 workplace trends are directly related to talent acquisition, selection and retention. The number one trend among these is retention.
The NAPS Certified Employee Retention Specialist credentialing process empowers search professionals to take a new look at search so they can learn how to become that strategic partner who can enhance the stability and profitability of their client’s human capital. CERS training teaches you the key drivers of employee retention as well as the long term impact of high retention on productivity, morale, and overall organizational profitability. This knowledge will allow you to confidentially assess your client’s retention issues and advise them with specific recommendations as their trusted retention advisor. Becoming this trusted advisor, you will find increased opportunities for your search and consulting services.
Built on the research first published in “Impending Crisis,” and expanded upon in “Employer of Choice,” “The War for Talent,” “Topgrading” and “The Truth about Managing People,” a CERS credentialed search professional will be able to provide a unique and extended service, one that separates them from their competitors. The CERS credential will give you a new level of consulting and training expertise that can become a new and substantial revenue stream. It’s up to you. You can address a single issue with your client, or create and manage an entire company wide retention program with this new expertise.
Ask yourself: Is there any better group of human capital B2B service providers equipped to solve the human capital concerns of corporations other than top tier search professionals who work on the front lines of the talent acquisition battle everyday?
Strategically speaking, retention begins with selection, and the search profession has everything to do with ensuring our hires are the first step in the succession and retention plans of our client companies. This type of strategic thinking moves us away from being merely transactional vendors and allows us to become strategic consultative partners that can deliver much sought after human capital consulting services for our client’s success. Not just with individual hires, but for their whole workforce team.
normally post about client work but I’ve been in a workshop this week that has been particularly interesting and relevant to some of the stuff I’ve recently posted on here.
So, the overall context has been on retaining employees, but one morning was devoted to developing a business process for retention. Now, I do quite a lot of work facilitating the development of business processes and I think it’s a skills / technique many more HR professionals should have. And I’ve also run a similar workshop once previously focused on retention (at Kennedy Information’s Retention Summit in Orlando in 2008).
Actually, it’s a workshop I’d like to run a lot more, because I think it works so well. In particularly, it helps demonstrate that what organisations often say are important, eg retaining its people, aren’t supported by actions that well. Where is your employee retention process for example? And of course, no organisation (?) has one. Retention is split across a number of sub-processes eg some activity in performance management, some in reward etc. Or probably more honestly, there’s often no process at all – retention is just (hopefully) a by-product of these other processes looking at other things.
And it sounds crazy to suggest that we should or might have a retention process. But I think this is only a consequence of the way we have build HR processes around supporting the business, not developing Human Capital. If we were focused on human capital, and if things like employee retention really were important, then we’d have a process for it. Wouldn’t we? (That’s basically the definition of a business process that I use within my workshop – a mechanism for doing something that the organisation sees as important.)
But this was the first time I’ve run this workshop with a client. And it was possibly because this was an internal client group that we got a lot further in the workshop than I did before.
That the start point of the process should be recruiting people who would be likely to stay in the organisation
That the end point would be arranging an appropriate departure (with links to the business development, employer branding and other different business processes as well as back to the beginning of this one).
In fact, the group found it difficult to specify and end point for the process – and it basically started to become a loop in which employees would leave the organisation but would then, very naturally, be re-recruited later on.
And, and this is the key bit, to make this process really work well, the organisation would engage with the individual employee to ensure they left at the most appropriate point (which might mean encouraging them to leave earlier than they would have otherwise done).
The interesting thing for me, you as well?, is that this is what I’ve proposed as a career partnership model a couple of times here before, and which I’ve recently entered as an example of a management hack at Gary Hamel’s Management Innovation Exchange (the MIX). But I’ve never thought of this in process terms before, which makes me feel more confident that I’m right about both ideas (that organisations should have a retention process – or at least some aspects of one – and that a useful basis for employee retention would be a career partnership approach).
Maintaining workforce stability, reducing turnover and minimizing attrition form the human resources function referred to as employee retention or retaining talent. Employers that realize the value of human capital devise a number of ways to improve employee retention. One method is restructuring the performance management system. The performance management system helps an organization become successful by monitoring and evaluating employee performance.
It is time for our profession to start thinking about how we are going to align ourselves as strategic partners rather than merely being transactional service providers. Top search professionals understand that their clients are looking for consultants who can give them expertise and serious consultative advice beyond just who to interview. The Society of Human Resource Management (SHRM) reports that 6 of the top 10 workplace trends are directly related to talent acquisition, selection and retention. The number one trend among these is retention.
The NAPS Certified Employee Retention Specialist credentialing process empowers search professionals to take a new look at search so they can learn how to become that strategic partner who can enhance the stability and profitability of their client’s human capital. CERS training teaches you the key drivers of employee retention as well as the long term impact of high retention on productivity, morale, and overall organizational profitability. This knowledge will allow you to confidentially assess your client’s retention issues and advise them with specific recommendations as their trusted retention advisor. Becoming this trusted advisor, you will find increased opportunities for your search and consulting services.
Built on the research first published in “Impending Crisis,” and expanded upon in “Employer of Choice,” “The War for Talent,” “Topgrading” and “The Truth about Managing People,” a CERS credentialed search professional will be able to provide a unique and extended service, one that separates them from their competitors. The CERS credential will give you a new level of consulting and training expertise that can become a new and substantial revenue stream. It’s up to you. You can address a single issue with your client, or create and manage an entire company wide retention program with this new expertise.
Ask yourself: Is there any better group of human capital B2B service providers equipped to solve the human capital concerns of corporations other than top tier search professionals who work on the front lines of the talent acquisition battle everyday?
Strategically speaking, retention begins with selection, and the search profession has everything to do with ensuring our hires are the first step in the succession and retention plans of our client companies. This type of strategic thinking moves us away from being merely transactional vendors and allows us to become strategic consultative partners that can deliver much sought after human capital consulting services for our client’s success. Not just with individual hires, but for their whole workforce team.
normally post about client work but I’ve been in a workshop this week that has been particularly interesting and relevant to some of the stuff I’ve recently posted on here.
So, the overall context has been on retaining employees, but one morning was devoted to developing a business process for retention. Now, I do quite a lot of work facilitating the development of business processes and I think it’s a skills / technique many more HR professionals should have. And I’ve also run a similar workshop once previously focused on retention (at Kennedy Information’s Retention Summit in Orlando in 2008).
Actually, it’s a workshop I’d like to run a lot more, because I think it works so well. In particularly, it helps demonstrate that what organisations often say are important, eg retaining its people, aren’t supported by actions that well. Where is your employee retention process for example? And of course, no organisation (?) has one. Retention is split across a number of sub-processes eg some activity in performance management, some in reward etc. Or probably more honestly, there’s often no process at all – retention is just (hopefully) a by-product of these other processes looking at other things.
And it sounds crazy to suggest that we should or might have a retention process. But I think this is only a consequence of the way we have build HR processes around supporting the business, not developing Human Capital. If we were focused on human capital, and if things like employee retention really were important, then we’d have a process for it. Wouldn’t we? (That’s basically the definition of a business process that I use within my workshop – a mechanism for doing something that the organisation sees as important.)
But this was the first time I’ve run this workshop with a client. And it was possibly because this was an internal client group that we got a lot further in the workshop than I did before.
That the start point of the process should be recruiting people who would be likely to stay in the organisation
That the end point would be arranging an appropriate departure (with links to the business development, employer branding and other different business processes as well as back to the beginning of this one).
In fact, the group found it difficult to specify and end point for the process – and it basically started to become a loop in which employees would leave the organisation but would then, very naturally, be re-recruited later on.
And, and this is the key bit, to make this process really work well, the organisation would engage with the individual employee to ensure they left at the most appropriate point (which might mean encouraging them to leave earlier than they would have otherwise done).
The interesting thing for me, you as well?, is that this is what I’ve proposed as a career partnership model a couple of times here before, and which I’ve recently entered as an example of a management hack at Gary Hamel’s Management Innovation Exchange (the MIX). But I’ve never thought of this in process terms before, which makes me feel more confident that I’m right about both ideas (that organisations should have a retention process – or at least some aspects of one – and that a useful basis for employee retention would be a career partnership approach).