TALENT MANAGEMENT AND DEVELOPMENT
Risk of not having the right people in the right place at the right time.
- Risk Timeframe: Short/Medium Term
- Category: Talent
Impact
Sodexo is a company of people serving people. With 360,000 consumer and client-facing employees and 60,000 managers, Sodexo’s employees are central to its long-term growth objectives.
Particular focus is on North America for talent identification (pipeline) and strengthening performance-led culture. In developing markets like APAC, the focus is on talent attraction and talent retention.
A lack of attention to employee performance management and development could lead to:
- a decrease in service quality jeopardizing retention and therefore long-term profitable growth;
- reactive vs. proactive talent management, leading to loss of top talent.
In addition, during the Covid-19 crisis, some sites were partially or fully closed in the second half of the year and gradually re-opened. Where possible, site personnel were transferred to other sites or to other companies. However a significant portion of our employees have been impacted by layoffs, or by furlough, leading to a loss of income. This could lead to a lack of employee motivation if the situation becomes permanent or deteriorates .
Examples of Mitigating Activities
- Training and development programs to reskill and upskill.
- Design of a new performance and reward framework to help retain, develop and motivate people.
- Annual talent reviews at management level.
- Global Next Generation Leader program designed to strengthen leadership bench.
In addition, during the health crisis, the following measures were implemented:
- training programs for employees on furlough;
- creation of the Sodexo Employee Relief Program to provide financial or material assistance to the most vulnerable on-site employees;
- launch of an engagement survey during the crisis;
- regular communication with employees on the impact of the health crisis in the short and medium term.
RESOURCE PLANNING
Inability to anticipate client needs in terms of skills and workforce
- Risk Timeframe: Short/Medium Term
- Category: Talent
Impact
In the current context of the Covid-19 pandemic, client needs change on a daily basis in terms of services and volume. Sodexo must know how to adapt its resources in the short and medium term. Globally, Sodexo’s ability to develop the skills of its employees and adjust its workforce to adapt to client needs is influenced by:
- demographic issues;
- the constantly changing needs of our clients;
- a volatile regulatory environment;
- the availability of the required skills.
Any inability to adjust the resources, skills and workforce could lead to client contracts not being served properly.
Examples of Mitigating Activities
- Development of local training centers to skill current and future employees (e.g.; CEDEX in Latam, Food Services Apprenticeship Training Center in France).
- Design of competency models and career paths to help employees develop within the Company.
- Development and trialing of Strategic Workforce Planning in some segments (Energy & Resources) and regions (China) to better anticipate labor needs.
- Development of operational and strategic plans including a skills and workforce dimension.
