4: Learning and Talent Management Flashcards Preview

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Flashcards in 4: Learning and Talent Management Deck (18)
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1
Q

What are the different ways to categorise compensation?

A

Job based Pay

  • Banded grade for job

Skill- based Pay

  • Basic pay with increments for skills acquired

Seniority-based Pay

  • Out-dated, however still relevant in Japan

Pay for Performance

  • Links pay to performance of individual, group or organisation
    • E.g. piecework, sales commission, stock options, profit sharing
  • A “high-performance” work practice
2
Q

What are the parts that make up contribution related pay

A

Paying for past performance

  • (results)

Paying for future success

  • (competence)
4
Q

What are the different types of rewards in the workplace?

A

PAY

BENEFITS

LEARNING AND DEVELOPMENT

WORK ENVIRONMENT

5
Q

What are the four categories of job related benefits?

A

Four categories of job-related benefits:

  1. Personal, security and health, e.g. pensions, above statutory sick pay
  2. Job-, status-, or seniority-related, e.g. cars, holidays above statutory minimum
  3. Family-friendly, e.g. childcare, elder care, above statutory maternity/paternity leave
  4. Social/”goodwill”/lifestyle benefits, e.g. subsidised catering, sports/social facilities
7
Q

What are the different parts that make up learning?

A

Skill

  • Perceptual-motor skills involve physical, motor responses to stimuli in the external world

Competence

  • This is the ability to apply knowledge and skills with understanding to a work activity

(Tacit) Knowledge

  • “know how” is defined as the tacit knowledge of how to execute something
  • It is acquired through experience rather than instruction

Employability

  • This is an indirect outcome of learning and development
  • Should be able to find employment elsewhere should their job come to an end
8
Q

What are the steps in Kolb’s cycle of learning?

A

Kolb’s cycle of learning

  • Concrete experience
    • To become fully involved in concrete, new experiences
  • Reflective observation
    • To observe and reflect on these experiences from many perspectives
  • Abstract conceptualisation
    • To use concepts and theories to integrate their observations
  • Active experimentation
    • To use those theories for decision-making and problem-solving

concrete/abstract (involvement/detachment)

active/reflective (actor/observer)

9
Q

What are the different types of learners from Kolbs cycle?

A

What are the different types of learners?

Accommodator/activist – learns by doing

Diverger/reflector – learns from different points of view, observing rather than acting

Converger/pragmatist – think and do, prefers the practical and specific

Assimilator/theorist – watch and think, comfortable with concepts and abstract idea

10
Q

Explain the Lancaster’s cycle of learning

A
  • Represents ‘all forms of learning including cognitive, skill development and affective, by any process’

Identifies three different forms of learning:

  1. Receipt of input/generation of output (from being taught or told information, or reading)
  2. Discovery (loop: action and feedback through experimentation)
  3. Reflection (loop: conceptualising and hypothesising) when making sense of the information they receive and the actions they undertake

As the figure shows, they take place in both the inner and outer world of the individual

11
Q

What are the factors that influence reward?

A

Factors that influence reward

  • The economic climate: public sector pay freezes, steel sector and pay cuts
  • The legal context
    • Equal pay, minimum wage, working time regulations (gender pay gap)
  • Influence of sector
    • Public: collective bargaining
    • Private: collective bargaining more or less limited to clerical/manual staff
  • Influence of competition
  • Internal factors
    • Size, unionisation, workforce characteristics, motivating factors
12
Q

Draw the BCG matrix for segmenting talent

A

Career growth potential vs current performance

Wild Cats

Star

Dog

Cash Cow

13
Q

What is another way for segmenting talent?

A

Value add vs unique firm specific skills

Core knowledge workers

  • Add high value, unique/firm specific talents
    • Relational contracts, “career” focus

Traditional human capital

  • Can add value, but not unique
    • Transactional contracts

Idiosyncratic human capital

  • Highly unique skills
    • Externalised (outsourced)

Ancillary human capital

  • Engaged in standardised work
    • Contract for services
14
Q

Why is learning so important?

A

Importance of learning

Rapidly changing environment requires organisations to learn faster to adapt

  • Globalisation
  • Technology changes
  • Competition
  • New business paradigms

Recognition of complex nature of knowledge – the importance of Knowledge Management

  • Need to retain knowledge

Employee progression

  • Leadership pipeline
  • Motivation

Employee self-development

  • Recognising that employees are individuals with their own personal goals
15
Q

Explain why attrition is often a symptom of mgmt. problem

A

Attrition is often a symptom of mgmt. problem

See no future

No loyalty from company

Unrealistic mgmt. expectations

Job unexciting

More money elsewhere

17
Q

Draw a matrix showing turnover risk analysis

A

Likelihood of leaving vs impact on organisation

Danger zone

Thanks for all you’ve done

Watching brief

No immediate danger

21
Q

What are the different training/learning methods

A

On the job learning

  • Sitting by Nellie
  • Coaching
  • Job rotation, secondment and shadowing
  • E-Learning

Off the job learning

  • Short courses, seminars, conferences
  • E-MBA
24
Q

Top reasons for voluntary leaving

A

Change of career

Promotion outside the organisation

Level of pay

Lack of development or career opportunities

Leaving to have/look after children

26
Q

What are the different ways of managing attrition

A

Managing attrition

  • Understand the reasons for attrition
    • Exit interviews, appraisals
  • Avoid the factors that drive attrition
    • Appraisals; know your employees
  • Train managers on talent mgmt. and dealing with problems
28
Q

What are the most common steps to improve retention?

A
  • Increase learning and development opportunities
  • Improve line mgmt. HR skills
  • Improve induction process
  • Improve employee involvement
  • Improve selection techniques
  • Increase pay
  • Offer coaching/mentoring/buddy systems
  • Improve benefits
  • Create clearer career paths
  • Improve work-life balance