4: Learning and Talent Management Flashcards
What are the different ways to categorise compensation?
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
What are the parts that make up contribution related pay
Paying for past performance
- (results)
Paying for future success
- (competence)
What are the different types of rewards in the workplace?
PAY
BENEFITS
LEARNING AND DEVELOPMENT
WORK ENVIRONMENT
What are the four categories of job related benefits?
Four categories of job-related benefits:
- Personal, security and health, e.g. pensions, above statutory sick pay
- Job-, status-, or seniority-related, e.g. cars, holidays above statutory minimum
- Family-friendly, e.g. childcare, elder care, above statutory maternity/paternity leave
- Social/”goodwill”/lifestyle benefits, e.g. subsidised catering, sports/social facilities
What are the different parts that make up learning?
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
What are the steps in Kolb’s cycle of learning?
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)
What are the different types of learners from Kolbs cycle?
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
Explain the Lancaster’s cycle of learning
- Represents ‘all forms of learning including cognitive, skill development and affective, by any process’
Identifies three different forms of learning:
- Receipt of input/generation of output (from being taught or told information, or reading)
- Discovery (loop: action and feedback through experimentation)
- 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
What are the factors that influence reward?
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
Draw the BCG matrix for segmenting talent
Career growth potential vs current performance
Wild Cats
Star
Dog
Cash Cow
What is another way for segmenting talent?
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
Why is learning so important?
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
Explain why attrition is often a symptom of mgmt. problem
Attrition is often a symptom of mgmt. problem
See no future
No loyalty from company
Unrealistic mgmt. expectations
Job unexciting
More money elsewhere
Draw a matrix showing turnover risk analysis
Likelihood of leaving vs impact on organisation
Danger zone
Thanks for all you’ve done
Watching brief
No immediate danger
What are the different training/learning methods
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
