{ "docId": "019dd923-5e88-73ef-bd58-206684e1798e", "docSlug": "b2526ddc1e6518cf", "documentTitle": "The talent challenge: Harnessing the power of human skills in the machine a", "authorId": "PwC", "authorName": "PwC", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "portrait", "aspectRatio": 0.752, "pageNumber": 25, "pageCount": 28, "prevPage": 24, "nextPage": 26, "slideType": "initiative_list", "function": "recommend", "density": "balanced", "nDataPoints": 0, "notes": "The slide lists 5 out of 7 mentioned interventions.", "elementsJson": [ "headline_text", "paragraph", "numbered_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd58-206684e1798e/25", "deckHref": "/decks/019dd923-5e88-73ef-bd58-206684e1798e", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd58-206684e1798e.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd58-206684e1798e#slide-25", "components": [ { "bbox": null, "kind": "callout", "text": "If anything, a recession is an invitation to redouble talent investments.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-3be8-755a-95dd-05a1eb2a4c2e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.48, "w": 0.86, "x": 0.07, "y": 0.46 }, "kind": "list", "text": "1. Create a no-spin zone: In times of stress, people need to trust their leaders, and trust is best earned and maintained through transparency. Conduct an audit of company communications to ensure that they are candid and credible.\n2. Think locally and focus on team leaders: Team leaders are the glue that can hold a workforce together in tough times. Their on-the-ground people skills can be more critical to the company's rebound from recession than cost-cutting initiatives or even product innovation. Invest in improving local managers' effectiveness and reward those managers for people-related outcomes.\n3. Give employees meaningful nonmonetary rewards: Managers can no longer rely on financial incentives to keep their \"A\" players performing at their full potential. Companies need to develop imaginative ways to boost performance — such as using time off as currency or providing a green workplace as a motivator. These nonmonetary rewards will lay a strong foundation for growth and renewal. It is time to rethink rewards to ensure that they are not only aligned with your business strategy, but also relevant and effective from the employees' perspective.\n4. Develop a fair restructuring process: Mass layoffs can be a huge source of ongoing stress for survivors — who may well head for the door. On the other hand, layoffs that are perceived as fair and respectful can have a positive effect on employee morale. Review your restructuring processes and integrate best practices, including a robust strategy for energizing and reengaging the survivors.\n5. Hold on to your diverse talent: Losing high-performing talent is regrettable. Losing high-performing diverse talent is not only regrettable but expensive, in terms of both financial and reputational capital. Companies that lose their carefully cultivated pipeline of diverse managers are at a considerable competitive disadvantage. Identify the root causes of turnover and lack of progression among women and", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f2baf09a-a71f-42f3-a33c-6f369baf5bc9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.4, "x": 0.07, "y": 0.09 }, "kind": "paragraph", "text": "In times marked by plummeting growth and rising unemployment, companies often make the fundamental error of considering their talent strategy to be a low priority. With so many people available to fill positions and current employees anxious to hold on to their jobs, these organizations assume that they can focus on other pressing priorities and curtail investment in the programs that motivate talent. Our research suggests precisely the opposite. After a massive layoff, many of the surviving employees voluntarily resign, and employee loyalty plummets, resulting in a sharp drop-off in productivity and performance. If anything, a recession is an invitation to redouble talent investments. Here are seven emergency interventions to retain top talent in a recession.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "54c1d26b-4827-4943-acbc-4d9ef563ba09", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.07, "y": 0.05 }, "kind": "title", "text": "Retaining top talent in a recession", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1124be85-d4bc-4ebd-9921-f0bf8dbe4575", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Problem-Agitate-Solve (PAS)", "slug": "problem-agitate-solve-pas", "agent": "Storyteller", "layer": "slide", "matchId": "16144441-2d43-4187-b3ad-0aaea6152aa4", "evidence": "In times marked by plummeting growth and rising unemployment, companies often make the fundamental error of considering their talent strategy to be a low priority", "confidence": 0.7 } ], "frameworks": [], "arcBeats": [ { "to": 26, "from": 21, "beatId": "4afc4865-b8af-4eb4-8428-5deaf1a63879", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Impact & Next Steps", "beatSlug": "consultants-gambit-impact-next-steps", "evidence": "The deck presents case studies and next steps, including leadership development and talent culture.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }