strategic hr planning anf talent mgt 4
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Strategic Workforce Planning
Session 4Talent Management
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Drivers of talent attraction and retention
Drivers of talent attraction and retention
Mc Kinsey Study – The War for Talent
It will become increasingly difficult to attract and retain they best talent
Supply of talent shrinking and more elusiveSupply of tomorrow’s leaders decliningTalent more mobile across companies
Greater competition for “best” talentMore sophisticated skills required for leading growth, globalization, and technological change
Companies waking up to their talent gap and vying to upgrade their talent
Small companies increasingly attractive
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Talented People?o Talented people are those expected, by their managers,
to produce superior performance both now and in the future
o They achieve this through application of their knowledge, skills and creativity while demanding personal growth with or without the support of the broader organisation.
o “Talented individuals are mobile monopolies with global passports.” (Karaoke Capitalism – Ridderstrale & Nordstrom)
o Some lack knowledge and skills but are talented, the challenge is to spot this
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Talent Management Principles
Outcomes
Inputs
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Key Elements of Talent Management
Review
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Talent Management Processes
Managing Talent
Business Results
Talent Management Processes
Talent Management Processes
Talent Management Processes
Business Results
Managing Talent
Talent Management Processes
Talent Management Processes
Business Results
Managing Talent
Talent Management Processes
AS IS
TO BE
Managing Talent
Managing Talent
Managing Talent
Shaping Talent Pools
Managing Talent
Business Results
Talent Management FrameworkPurpose of TMPurpose of TM
TM ToolsTM Tools
TM ProcessesTM Processes
Key Elements of TMKey Elements of TM
TM PrinciplesTM Principles
Definition of TMDefinition of TM
BENEFITS OF
TALENT MANAGEMENT
BENEFITS OF
TALENT MANAGEMENT
Talent Management Tools 1
TALENT MATRIX This in short is a matrix which will indicate both the potential and performance of individuals.
SUCCESSION PLANS
Descriptive documentation on possible candidates to replace current incumbents – could be split over 3 areas namely “ready now”, “ready in 2 years” & “ready in 5 years”.
BIOGRAPHICAL DETAIL This will include all developmental information as well as career aspirations and other related talent management information.
ASSESSMENTS
Leadership strength assessments.
TALENT MANAGEMENT DATABASE “Live” system available to all relevant stakeholders – consisting of all of the above tools.
The Talent Management MatrixPotential
3 6 9
2 5 8
1 4 7
High
Medium
Low
Under-
performing
Good StrongPerformance
Talent Management Matrix
Total Compensation Keep well ahead (25%) of market. Grant long-term incentives.
RetentionAssign a member of top management to monitor satisfaction and engagement.
EngagementAssign to key committees, teams, networks; special invitations to meetings; provide opportunities to represent G-P in community and industry forums.
ExposureArrange exposure to significant and relevant senior management/board members, Executive Development programs.
AssessmentProvide complete continuous assessment, evaluation and feedback alternatives.
Coach Make coaches available for key skill development.
Mentor Assign a senior level mentor.
AssignmentMove aggressively through a series of targeted, challenging, diverse and broadening jobs every 24-36 months.
DevelopmentUse challenging jobs to enhance current skills and develop others. Consider as candidate for G-P sponsored graduate or executive development programs.
Illustrative Example - 9
The CLC Four Lenses
Individual Exercises
• “How good are we at managing talent?”
• “Options for addressing strategic talent management issues”
• Please complete they questionnaires in your file
• Scoring
• De-briefing
CONVERSATION TOPIC #1
“Start by paying me a decent, market-related salary…….or perhaps a little bit more. We can then focus on the other things that really matter.”
What drives retention of talent?
CONVERSATION TOPIC #2
“ I want to have absolute clarity of what the Company can provide before I commit
“
The psychological contract
CONVERSATION TOPIC #3
“Freedom and autonomy mean a lot to me. Let’s discuss the expected
outcomes from the task , but then leave me to get on
with it.”Generation gap?
CONVERSATION TOPIC #4
“ I look at the quality of leadership before a make a decision for a better job, or
consider a transfer”
Career decisions
CONVERSATION TOPIC #5
“I’m not too concerned with the rigidities and formalities of performance management
systems…I just want to get on with the job. But I thrive on feedback – ongoing, honest and sometimes
‘fierce’ feedback.”
Career decisions
CONVERSATION TOPIC #6
“Although we don’t talk about it much , recognition is a big thing. Recognition through
financial reward is great, but non-financial recognition also
plays a big role.”
Line of sight…
CONVERSATION TOPIC #7
“ I suppose I’m a true believer in life-long learning: training
and development, coaching and mentoring – all those things
mean a lot to me.”
Drivers of talent growth
CONVERSATION TOPIC #8
“ But I regard everyone as talented. I don’t like the
blue eyed boy syndrome in our organization”
Definition and affirmation of talent
CONVERSATION TOPIC #9
“My passion lies in geology. Yes, I’m obsessed with rocks. But, please, I don’t want to
manage people – that’s a big turn-off for me. That said, what
are my career prospects?”Only management?
CONVERSATION TOPIC #10
“I know that I’m not the cream of the crop….I realize that I’m not
super-intelligent. However, I am a solid performer and add a lot of value. I am also very loyal. Don’t
forget about me.”
Balance in organizations
CONVERSATION TOPIC #10
o Look after the top talent, but don’t forget about the B players.
o Possibly the B players are the real stars in the organisation.
o The A players tend to be constantly on the look for greener pastures, and are often very self-centred.
o Like any employees, no matter how secure and grounded, B players need nurturing and recognition.
Harvard Business Review
CONVERSATION TOPIC #11
“I look at what the psychometric tests say – it is a scientific way for me as a line manager to identify talented
people”
Assessment and testing
CONVERSATION TOPIC #12
“I regard myself as a maverick . Some people even call me ‘weird’.
But I also know that I make a substantial contribution to the
company. Allow me to continue to push the boundaries.”
Are talented people all mavericks?
CONVERSATION TOPIC #13
“I want to be developed to my full potential ; I am the type of person that needs to be stretched. But, to the extent that it is possible, I want to maintain an acceptable work-life
balance.”
WLB a Company manual entry?
CONVERSATION TOPIC #14
“Yes, I’m 48 and white and male. As you know, I have an excellent track record
and still have a lot to offer. Use me, develop me,
stretch me.”
CONVERSATION TOPIC #15
“I’m 59 and should be retiring next year. But I am still healthy
- mentally, physically and emotionally. Can we not work
out a deal where, after retiring, I work for the company two
days a week?”
1.People First!
“When land was the productive asset, nations
battled
over it. The same is happening now for talented people.”
Stan Davis & Christopher Meyer, futureWEALTH
Talent!
Tina Brown: “The first thing is to hire enough talent that a critical mass of excitement starts to
grow.”Source: Business2.0
2. Soft is Hard!
3. FUNDAMENTAL PREMISE: We Are in an Age of Talent/Creativity/
Intellectual-capital Added.
“Human creativity is the ultimate
economic resource.” —Richard Florida,
The Rise of the Creative Class
4. Talent “Excellence” in Every Part of Every Organization.
5. P.O.T./ Pursuit Of Talent = OBSESSION.
“The leaders of Great Groups love talent and know where to find it. They revel in the talent of
others.”Warren Bennis & Patricia Ward Biederman, Organizing Genius
6. Talent Masters Understand Talent’s Intangibles.
Visibly energetic/Passionate/Enthusiastic … about everything.Engaging/Inspires others. (Inspires the interviewer!)
Loves messes & pressure. Impatient/ Action fanatic.
A finisher.Exhibits: Fat “WOW Project” Portfolio. (Loves to talk about her work.)
Smart.Curious/ Eclectic interests/ A little (or more) weird.Well-developed sense of humor/ Fun to be around.
******
No. 1 re bosses: Exceptional talent selection & development record. (Former co-workers: “Did you visibly grow while working with X?” /“How has the department/team grown
on a ‘world-class’ scale during X’s tenure?”)
7. HR Is “Cool.”
“HR doesn’t tend to hire a lot of independent thinkers or people who stand up as moral compasses.” —Garold Markle,
Shell Offshore HR Exec (FC/08.05)
8. There Is an “HR Strategy”/ “HR Vision”
“Omnicom very simply is about talent. It’s about the
acquisition of talent, providing the atmosphere so talent is attracted to
it.” —John Wren
EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward
Source: Ed Michaels et al., The War for Talent
9. There Is a FORMAL Recruitment Strategy.
Cirque du Soleil: Talent (12
full-time scouts, database of 20,000). R&D (40% of profits; 2X avg corp).
Controls (shows are profit centers; partners like Disney
offset costs; $100M on $500M). Scarcity builds buzz/brand (1 new show per year. “People tell me we’re
leaving money on the table by not duplicating our shows. They’re right.” —Daniel Lamarre, president).
Source: “The Phantasmagoria Factory”/Business 2.0/1-2.2004
10. HR Strategy = BUSINESS Strategy
People Department
Center for Talent Excellence
Seriously Cool People Who Recruit and Develop Seriously Cool People
Etc.
“In the CEO job you will not use much of what you have learnt here …you will be into people. The recruitment of people, the evaluation of people…the dealing with people” Jack…to the Stanford MBA Class
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