Strategic HR Planning anf Talent Mgt 4

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Strategic Workforce Planning Session 4 Talent Management

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Strategic HR Planning anf Talent Mgt 4

Transcript of Strategic HR Planning anf Talent Mgt 4

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Strategic Workforce Planning

Session 4Talent Management

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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

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Drivers of talent attraction and retention

Drivers of talent attraction and retention

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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

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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

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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

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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

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Talent Management Principles

Outcomes

Inputs

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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

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Key Elements of Talent Management

Review

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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

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Talent Management Processes

Managing Talent

Business Results

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Talent Management Processes

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Talent Management Processes

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Talent Management Processes

Business Results

Managing Talent

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Talent Management Processes

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Talent Management Processes

Business Results

Managing Talent

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Talent Management Processes

AS IS

TO BE

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Managing Talent

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Managing Talent

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Managing Talent

Shaping Talent Pools

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Managing Talent

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Business Results

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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

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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.

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The Talent Management MatrixPotential

3 6 9

2 5 8

1 4 7

High

Medium

Low

Under-

performing

Good StrongPerformance

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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

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The CLC Four Lenses

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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

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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?

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CONVERSATION TOPIC #2

“ I want to have absolute clarity of what the Company can provide before I commit

The psychological contract

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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?

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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

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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

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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…

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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

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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

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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?

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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

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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

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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

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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?

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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?

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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.”

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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?”

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1.People First!

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“When land was the productive asset, nations

battled

over it. The same is happening now for talented people.”

Stan Davis & Christopher Meyer, futureWEALTH

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Talent!

Tina Brown: “The first thing is to hire enough talent that a critical mass of excitement starts to

grow.”Source: Business2.0

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2. Soft is Hard!

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3. FUNDAMENTAL PREMISE: We Are in an Age of Talent/Creativity/

Intellectual-capital Added.

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“Human creativity is the ultimate

economic resource.” —Richard Florida,

The Rise of the Creative Class

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4. Talent “Excellence” in Every Part of Every Organization.

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5. P.O.T./ Pursuit Of Talent = OBSESSION.

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“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

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6. Talent Masters Understand Talent’s Intangibles.

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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?”)

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7. HR Is “Cool.”

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“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)

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8. There Is an “HR Strategy”/ “HR Vision”

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“Omnicom very simply is about talent. It’s about the

acquisition of talent, providing the atmosphere so talent is attracted to

it.” —John Wren

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EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward

Source: Ed Michaels et al., The War for Talent

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9. There Is a FORMAL Recruitment Strategy.

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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

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10. HR Strategy = BUSINESS Strategy

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People Department

Center for Talent Excellence

Seriously Cool People Who Recruit and Develop Seriously Cool People

Etc.

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“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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