Employee Retention, Engagement and Careers
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HP has implemented various strategies to promote employee retention, engagement, and career development. They strive to create a supportive work environment and foster a collaborative culture. HP offers training, mentoring, and leadership development programs to help employees advance their careers. Surveys and feedback from employees help HP identify areas for improvement. HP's focus on employees has helped the company retain talent and remain competitive in the technology industry.
Employee Retention, Engagement and Careers
- 1. Employee Retention, Engagement and Careers HRM-BUS5102 Presented by:Cihan Baksi
- 2. CONTENT Company Profile HR Department Profile Retantion, Engagement and Careers The Example /Case Comments and Conclusion References
- 3. Company Profile History In 1939 Bill Hewlett and Dave Packard set up the “Hewlett- Packard Company (HP)” in a one-car garage and produced a new type of audio oscillator. By 1980, sales were 3.01 billion US Dollar. For the first 20 years they produced primarily electronic test and measuring instruments. But later they added computers, calculators, medical electronic equipment, instrumentation for chemical analysis, and solid-state components. In 1980, its net sales increased at a compound rate of 23% and net profit increased at a compound rate of 27%. HP was performing with 57000 in 20 manufacturing locations in US and 8 others worldwide. Moreover, it had 60 sales US and 100 worldwide sales and service locations.
- 4. Company Profile Type:Public Traded as: NYSE: HPQ S&P 500 Component Industry: Computer hardware Computer software IT services IT consulting Founded:January 1, 1939 Founder:Bill Hewlett, Dave Packard Headquarters:Palo Alto, California,United States Area served:Worldwide Key people:Meg Whitman (Chairman, President and CEO) Products: Printers Scanners HP Software products HP Converged Cloud products Servers Storages Pc and Notebooks Competitors: IBM Dell Accenture Employees:317500
- 6. Human Resources at HP CEO Human Resources Diversity Recruitment Human Resources Progress Executive Rectuiring Global Talent Acquisition
- 7. Retantion Employee retention refers to the various policies and practices which let the employees loyal to an organization for a longer period of time. Every organization invests time and money to groom a new joiner, make him/her a corporate/ market ready material and bring him/her at par with the existing employees. The basic practices which should be kept in mind in the employee retention strategies are:
- 8. Retantion Hire the right people in the first place. Empower the employees: Give the employees the authority to get things done. Make employees realize that they are the most valuable asset of the organization. Have faith in them, trust them and respect them. Provide them information and knowledge. Keep providing them feedback on their performance. Recognize and appreciate their achievements. Keep their morale high. Create an environment where the employees want to work and have fun.
- 9. Retantion
- 10. Engagement A positive attitude held by the employee towards the organisation and its values. An engaged employee is aware o f business context and works with colleagues to improve performance within the job for the benefit o f the organisation. The organisation must work to develop and nurture engagement which requires a two-way relationship between employer and employee.
- 11. Engagement The Engaged - Highly productive and happiest employees characterized with discretionary effort and commitment. . Almost Engaged - Reasonably productive and relatively contented w ith job they hold. Engagement levels could be enhanced with the effort from organization side. Honeymooners and Hamsters- Highly satisfied with designation holding, organization they work for and compensation they receive, but low level of contribution for organizational success. The period may be temporary. The engagement levels could be enhanced with the effort from the side of organization. Crash Burners- Employees who are highly productive, contribute maximum for the success of organization, but not happier with their personal success. They may turn into disengaged employees due to lack of self-contentment. DisEngaged- Employees with high levels of discontentment and negative opinion on organizational approach.
- 12. Engagement
- 13. Engagement
- 14. Careers The progress and actions taken by a person throughout a lifetime, especially those related to that person's occupations. A career is often composed of the jobs held, titles earned and work accomplished over a long period of time, rather than just referring to one position. Career development from two perspectives: Career development should be considered from the perspectives of both the organization and the employee: Organization: What skills and knowledge do we require to achieve our business goals? Employee: What are the skills and knowledge I think critical to my current and future career plans?
- 15. The Example /Case HP people “HP’s success has always been built on its people—they are our legacy and our future. Their talent, spirit, energy, and drive are rivaled only by their potential.” —Tracy Keogh, Executive Vice President, Human Resources, HP
- 16. Example Case Hp People HP’s people are integral to the company’s success. Recruiting, developing, and retaining the best employees provides us with a competitive advantage, so we strive to create supportive, motivating workplaces where everyone can flourish. We foster a culture based on listening, sharing, inspiring, helping, and learning, and we regularly seek feedback on how we can perform better. Over the past year, HP has made extensive changes to improve employees’ work experience.We also launched a global effort to determine the key behaviors and actions we desire from a cultural perspective, engaging people from across the organization to receive as much input as possible. Based on what we heard, here are a few of the actions we implemented across the company in 2011:
- 17. Example Case Hp People HP’s people are integral to the company’s success. Recruiting, developing, and retaining the best employees provides us with a competitive advantage, so we strive to create supportive, motivating workplaces where everyone can flourish. We foster a culture based on listening, sharing, inspiring, helping, and learning, and we regularly seek feedback on how we can perform better. Over the past year, HP has made extensive changes to improve employees’ work experience.We also launched a global effort to determine the key behaviors and actions we desire from a cultural perspective, engaging people from across the organization to receive as much input as possible. Based on what we heard, here are a few of the actions we implemented across the company in 2011:
- 18. Hp People Work environment • Tailored core work environment tools and services to meet the needs of distinct employee segments • Continued to provide enhancements to virtual collaboration suite, especially leveraging social networking functionality Building careers • Shifted focus to filling job vacancies with internal talent • Allowed managers greater flexibility in hiring decisions • Revised redeployment policies to provide better opportunities for people to move between HP roles Rewards and benefits • Restored base pay to prereduction levels for the vast majority of employees affected by base pay reduction in February 2009 • Increased funding and eligibility for bonuses • Implemented a new Employee Stock Purchase Plan • Launched a global wellness program Pride in HP • Featured employees in the 2011 recruitment campaign showcasing their personal stories • Reaffirmed HP’s commitment to volunteerism, including by raising awareness that every HP employee may take 4 hours of company time per month to volunteer
- 19. Engaging our people An engaged workforce strengthens company performance. Employees who are invested in HP’s success are more likely to perform well, promote our brand, and stay with HP. They also enhance the quality of the relationships we build with our customers, communities, and other stakeholders. Employee engagement begins with a culture that is open and collaborative. At every level of the organization we are committed to fostering a level of openness and equality that is changing our culture for the better. At company headquarters in Palo Alto, California, United States, for instance, we have taken down the walls of the executive offices in favor of an open-plan arrangement. We strive to engage people at all points, from the application and hiring process to training and developing employees to maintaining relationships with retirees after they leave HP. We aim to approach every interaction with honesty and respect, treating everyone we encounter with absolute integrity. Relationships are at the core of what we do. We collaborate with people inside and outside of the company, gathering insights and ideas that improve the way we do business and serve our customers. One critical component of engagement is to continually connect to our people—we provide numerous forums and networks, collect and respond to employee feedback, provide opportunities for community involvement, and offer a range of recognition programs.
- 20. Engaging our people Forums and networks Our employees often work across time zones and continents, so virtual collaboration is essential. Our people exchange ideas and views, and collaborate on better ways of working, through online and in-person forums, as well as Employee Resource Groups (ERGs). The first ERG was formed more than 30 years ago and now there are more than 120 ERGs across 30 countries Employee feedback HP gathers employee feedback through formal and informal channels. One of the most important is the annual Voice of the Workforce (VoW) global survey, which provides an opportunity for individual employees to influence the company as a whole. We expanded the VoW in 2011 to measure employees’ perceptions of HP’s identity in the marketplace, training and development opportunities, and the connection between individuals’ and HP’s corporate objectives. During the year, 78% of all employees took part in the confidential VoW survey, available online in 26 languages. This compared with 75% in 2010.
- 21. Engaging our people Open dialogue with leadership Employees can ask questions of HP leaders and review answers to common queries through the HP intranet Top of Mind feature, as well as in all-employee meetings. Topics addressed in Top of Mind relate to HP’s business and strategy—issues of interest to the global employee population. Employees can pose questions using an online form or by making a video submission. Employee volunteerism and giving HP people contribute their time, skills, and expertise to their communities and also support our global social innovation programs. Many employees also make financial contributions to support their local communities and assist in disaster relief efforts. Retiree engagement Our approximately 85,000 retirees are important ambassadors for HP. We stay connected with them through communications, social networking, and the HP retiree website. In addition, HP plays an active role in the HP Retiree Advisory Board and contributes content to local retiree clubs across the globe.
- 22. Building Careers HP has a longstanding commitment to recruit, retain, and develop the most skilled employees in our industry. Fostering the best talent relies on providing extensive opportunities for continual learning and growth. This takes place through activities including training, mentoring, and leadership development. We provide development opportunities through face-to-face training, live virtual training, and self-directed online courses. The vast majority of our training courses (93%) are delivered in virtual sessions or self-paced online modules. These can reach more employees and allow flexible access for people to learn anywhere and anytime. We offer more than 10,000 courses, which employees used a total of 2.5 million times during 2011, a 56% increase from 2010.
- 23. Building Careers Building careers Attracting, developing, and retaining top talent is fundamentally important to us. We encourage all employees to build their careers with us, and we provide comprehensive, integrated tools and resources to help them achieve their professional development objectives. In 2014, we introduced two important initiatives to support improved performance management and job satisfaction: A new manager-employee interaction model that encourages ongoing performance review conversations A company-wide shift to Workday, a cloud-based human capital management software solution that enables easier information sharing and allows managers to analyze employee trends. In focus groups and surveys, more than 40% of employees and nearly 50% of managers reported higher quality mid-year conversations as a result of these new processes. The development of established and emerging leaders is a key priority. Our ‘Align and Engage’ programs support the next generation of leaders through robust learning and coaching opportunities, with close to 800 participants taking part in 2014. We offer a range of training to help employees develop the skills and knowledge to excel in their current roles and develop in their careers here. In 2014, HP University’s second year of operation, employees completed nearly 5.3 million training hours, 97% through flexible, virtual sessions or self-paced online courses.
- 24. Building Careers Mentoring One of the best professional development resources available to HP employees is the skills and expertise of their co-workers. HP facilitates mentoring experiences through the Mentoring @ hp intranet site, which contains advice and resources for both mentors and those seeking mentors. In addition, the site provides a directory of mentoring programs, which helps connect groups as diverse as young employees, senior women leaders, and professionals in finance, human resources, and sales with mentors in their fields. In 2011, more than 4,500 employees participated in HP’s formal mentoring programs. Learning and development HP offers all employees the opportunities and resources to excel in their jobs and prepare for new challenges. Our global presence and networked workforce allow employees to learn from each other in many different ways and across a wide spectrum of specialties.
- 25. Building Careers Leadership development The ability to think and act as a leader is crucial for every HP employee, regardless of role. All employees have the opportunity to complete a self-assessment against the HP leadership standards and develop leadership skills through performance feedback, learning and training resources, or working with a coach or mentor Redeployment Redeployment increases the workforce’s ability to adapt, helps HP maximize and develop talent, and aids in responding to employees when ongoing business decisions such as restructuring and realignment impact their positions. Redeployment provides HP with the alternative to deploy talent instead of reducing the workforce.The redeployment program allows managers to match the competencies and skills of eligible employees with current job openings. Reassigning eligible employees to open positions within the company helps HP retain internal talent and gives employees the opportunity to apply their skills to other HP jobs
- 26. Benefits Benefits In addition to base and performance-related pay and stock ownership, we offer benefits everywhere we operate. These are designed to support a wide range of employee needs, varying by country, and may include: • Health and wellness plans supporting employee well-being • Income protection insurance covering risks from injury or illness • Retirement and savings plans helping employees secure their financial future • Time-off programs to pursue interests outside of work
- 27. Conclusion HP is very selective in considering job candidates and Employee is hired on permanent basis. The HP culture and value system play a role in the system of promotions and rewards. The performance appraisal and salary administration processes also expose individual Employees to many managers around the company. Individual pay is set by a combination of relevant experience and “sustained performance.” As a HR strategy, HP people, they sucessfully applied all of functions of retation, engagement and careers. It led to employee satisfaction by applying its full details and is created “sustained performance.” Also they use this hr function ot improve their brand value. Company Median Age HP 39 IBM 38 Oracle 38 Dell 37 Sony 36 Nokia 34 Microsoft 33 Amazon 31 Yahoo 31 Google 30 As we can see table : Hewlett-Packard’s employees have a median age of 39 . This situation shows us how they were successful in employee engagement and retention.
- 28. Conclusion
- 29. References Bhuvanaiah, T., & Raya, R. P. (2014). Employee Engagement: Key to Organizational Success. SCMS Journal Of Indian Management, 11(4), 61-71. Balakrishnan, L., & M, V. (2014). A Study on Retention Strategy's followed by Education Institutions in Retaining Qualified Employees. SIES Journal Of Management, 10(1), 69-80. Retrived from www: http://www.bizstudyportal.com/content/b/i/z/S/t/u/D/y/HRM/DEF/5/516HRM2013DEF0102124321.pdf Retrived from www: http://www.hp.com Retrived from www: http://www.marsdd.com/mars-library/career-development/ Retrived from www: http://venturebeat.com/2014/12/31/hp-ibm-and-oracle-have-the-oldest-workforces-in-tech- guess-whos-the-youngest/