Models for Identifying Talents in the Organization

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Models for Identifying Talents in the Organization Petar Petrov, Phd. student University of Economics – Varna VANGUARD SCIENTIFIC INSTRUMENTS IN MANAGEMENT ‘2012

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A presentation for the conference in Ravda - VANGUARD SCIENTIFIC INSTRUMENTS IN MANAGEMENT ‘2012.

Transcript of Models for Identifying Talents in the Organization

  • 1. Models for IdentifyingTalents in the Organization Petar Petrov, Phd. student University of Economics VarnaVANGUARD SCIENTIFIC INSTRUMENTS IN MANAGEMENT 2012

2. What to discussO How do we perceive talent in theorganizational context?O Why are talents important?O Actuality.O How to identify the talents?O Some considerations 3. Defining talent - etymologyO The first dictionary definition of talent refers toa denomination of weight, used by theAssyrians, Babylonians, Greek, Romans, andother ancient peoples.O A talent became a monetary unit when value wasattributed to one talent of silver.O The New English Bible translates the Greek wordtalent with the word capital. Today, HR peoplealso use the term human capital, which in somecontexts could be seen as synonymous to talent.O In the fifteenth century it related totreasure, riches, mental endowment and naturalability. 4. Defining talent (2)O The power of mind (The Economist).O The sum of personal abilities (McKinsey).O A natural ability to do something well(Longman Dictionary of ContemporaryEnglish, 2006). 5. Defining talent (3)Talented individuals are those who can make thegreatest difference to organizationalperformance, either through their immediatecontribution or in the longer term bydemonstrating the highest levels of potential(Chartered Institute of Personnel andDevelopment, 2007). 6. Why important?160% 149%140% 127% 122%120% 115%100%80%ESoTM60%N/A40%20% 0% Profit NP Margin ROA ROE O ESoTM effective system of talent management. O N/A such system is not available.Hacket Group (2007) 7. The real pictureO McKinsey survey in 2010 among 13000 managers in more than 120 companies states: Only 26% think that talent managementis a priority! 8. ActualityTop five talent issues in Top five talent issues in2007: 2011:1. Identifying and1. Identifying and developing developing the internal the internal talent pipeline. talent pipeline. 2. Acquiring strategic skills2. Succession coverage for for the future. business critical roles. 3. Retention of talent.3. Acquiring and developing 4. Introducing/recalibrating mobile managers.talent management.4. Acquiring and developing 5. Using talent management technical drive5. Retention of talent.change/turnaround.Lesley Uren (2011) 9. How to identify? (1)MediocreAverage Excellent performanceperformanceperformanceBehavior Requiremen Behavior Requiremen Behavior Requiremen t t t Robin Stuart-Kotze, Chris Dunn (2011) 10. How to identify? (2) Doug Williamson (2011) 11. How to identify? (3)GeneralElectric 9-boxmatrix*Talent map 12. How to identify? (4)Jeanne G. Harris, Elizabeth Craig, David A. Light(2011) 13. How to identify? (5-1)SM Rakesh Sharma, Jyotsna Bhatnagar (2009) 14. How to identify? (5-2)MMRakesh Sharma, Jyotsna Bhatnagar(2009) 15. Some considerationsO Talented individuals have a great range ofexpectations of their organization.O Organizations do not know the full rangeof what talented individuals want.O Where organizations do know what talentwants, they do not always provide it.