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Using Career Management as a

Retention Strategy

8 May 2012

Presented by: Michelle Gilmore

Head of Human Resources, GESB

9

What we’ll talk about today

About GESB and our turnover challenge

Reasons people leave, reasons people stay

A career management initiative in GESB

The impact so far

Questions and Discussion

10

About GESB

Superannuation Fund for current and

former public sector employees

$13 billion Funds under Management

Largest locally-based super fund in

WA

WA Government Statutory Authority

Multiple awards for performance,

quality and value for money

11

GESB is a high performing fund

Super Ratings Platinum 2012 – fifth year running

Investment Trends Best Customer Service 2011 voted by our members

Investment Trends Best Disclosure of Fees and Charges 2011

WA Contact Centre of the Year 2011

Super Ratings Super of the Year Finalist 2011

Super Ratings Pension of the Year Finalist 2011

Chant West top 10 superannuation fund in Australia 2011

Chant West Five Apples 2010

The Heron Partnership 5 Quality Stars 2010/11

Towers Watson, P&I/TW300 Top 300 global funds 2010

GESB people

12

200 people

One location

Mostly career finance sector

people

Some public servants

Some ‘career GESB’ people

Understanding turnover & retention

Why people leave

Shocks

Gradual accumulation of

dissatisfaction

Cost benefit analysis

Impulsive emotional

decision

Why people stay

Links to other people /

activities

Congruence between job

and other facets of life

Sacrifices – how hard is it

to cut ties?

Labour market

13

Can we fix it?

For most, the decision to leave

emerges over time

Lee and Mitchell “unfolding”

model of turnover

So how should we intervene to

reduce the likelihood of turnover?

14

15

The GESB Retention Challenge

16

GESB has experienced major strategic

changes

From 2000 - getting ready for

competition, Choice of Super

2007 – GESB to become a mutual

fund

July 2008 – mutualisation halted

2009 – government announces

superannuation reforms

June 2011 - CEO leaves

January 2012 - Government appoints

new CEO

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

2003/4 2004/5 2005/6 2006/7 2007/8 2008/9 2009/10 2010/11 2011/12 (to 31

Mar)

Turnover % FTE Average turnover as % FTE

Planned

mutualisation of

GESB

Cost

Challenge;

Whithear

Review

17

Our turnover history shows the impact

Planned

mutualisation

of GESB Government

announces

super reforms

18

The reforms will take time

Reverse the decision to mutualise

GESB

Keep GESB in the WA public sector

One Way Choice for members

Outsource superannuation

administration

And 14 other recommendations

19

Our people risk is out of appetite

Most serious strategic risk High risk to service delivery Turnover is above target This financial year, over 100 years of experience has walked out of the door

A workforce recruited for growth is

now tasked with ‘care & maintenance’

More reasons to leave Shocks

Gradual accumulation of

dissatisfaction

Cost benefit analysis

Immediate emotional

response

Fewer reasons to stay Links to other people /

activities

Congruence between job

and other facets of life

Sacrifices – how hard is it to

sever the links?

20

21

Our number 1 challenge

In a word, its retaining our people …

“A number of key people have

left and I don't see people

picking up the pieces well which

frustrates me and results in

more work flowing through due

to errors and processing delays.

The people I work with

generally seem down. Energy

and enthusiasm is missing”

Our retention options

22

Deliver with Pride

Lead with Pride

Career Management

GESB Passport

Careers Centre

GESB Good Life

Values Champions scheme

Discounts, benefits

Group pay rise

Career Management

Study Assistance

Challenging work

Promotional

opportunities

Access to flexible work

Excellent entitlements

Allowances

Salary reviews

Severance payment / transition

incentive when new provider is

selected

Impact

Type of Reward

Group

Individual

Non-Financial Financial

23

Career management in GESB

A partnership between GESB and

Donington

24

“Great Place to Work” workshops

July 2011 – 90% of GESB people took part

They told us they wanted:

interaction across the business

Training & development

Challenging work

Cross training opportunities

A neat fit with the reasons people

stay!

25

Links to other people / activities

Involvement in teams, working groups

Colleague interaction

Congruence

Job uses skills & talents

Feel valued

Values match culture

Sacrifices – how hard is it to cut ties?

Benefits, opportunities, autonomy, pay,

job security

26

Making GESB a Great Place to Work

Deliver with Pride

Leading with Pride

GESB Passport

– Careers Centre

GESB Good Life

27

The Careers Centre

Delivered in partnership with Donington

Careers Counsellor available every week on site

Focus is RETENTION

Around 30% of the workforce have already taken part

28

How it supports retention

Tangible investment in our people

Supports and encourage forward

planning

“Embeddedness”

Independent reality checking

Helps smooth ‘shocks’, allay

misconceptions

Supports managers and our people

29

So what do our people think?

I have appropriate oppportunities for personal and professional growth eg

training and development

53 52 56 58 56 5364

76 7466

Aug 07 Feb 08 Aug 08 May 09 Jun 10 Nov 10 May 11 Aug 11 Dec 11 Mar 12

Pulse Attributes - Career Development% staff responding 7-10 on 10-point scale

Great news, but there is no room

for complacency

Career management is

not the silver bullet –

but you can’t afford not

to do it

Consistency,

consistency,

consistency

30

31

Question Time

32

Discussion Questions

How different are GESB’s retention challenges from

yours? Can career management work in your

organisation?

In turnover research currently being undertaken by ECU,

80% of employees rated “Development” very important

in retaining them. Is focussing on career management

enough to stem turnover? What else are you doing to

retain staff?

33