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

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  • 1. Strategic Workforce Planning Session 4 Talent Management

2. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 3. Drivers of talent attraction and retention 4. 5. 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 elusive Supply of tomorrows leaders declining Talent more mobile across companies Greater competition for best talent More 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 6. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 7. 8. Talented People?

  • Talented people are those expected, by their managers, to producesuperior performanceboth now and in the future
  • They achieve this through application of their knowledge, skills and creativity whiledemanding personal growthwith or without the support of the broader organisation.
  • Talented individuals aremobile monopolies with global passports . (Karaoke Capitalism Ridderstrale & Nordstrom)
  • Somelack knowledge and skills but are talented , the challenge is to spot this

9. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 10. Talent Management Principles Outcomes Inputs 11. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 12. Key Elements of Talent Management Review 13. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 14. Talent Management Processes Managing Talent Business Results 15. Talent Management Processes 16. Talent Management Processes 17. Talent Management Processes Business Results Managing Talent 18. Talent Management Processes 19. Talent Management Processes Business Results Managing Talent 20. Talent Management Processes AS IS TO BE 21. Managing Talent 22. Managing Talent 23. Managing Talent Shaping Talent Pools 24. Managing Talent 25. Business Results 26. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITSOFTALENTMANAGEMENT 27. Talent Management Tools 28. The Talent Management Matrix Potential 3 6 9 2 5 8 1 4 7 High Medium Low Under- performing Good Strong Performance 29. Talent Management Matrix Illustrative Example - 9 Total Compensation Keep well ahead (25%) of market.Grant long-term incentives. Retention Assign a member of top management to monitor satisfaction and engagement. Engagement Assign to key committees, teams, networks; special invitations to meetings; provide opportunities to represent G-P in community and industry forums. Exposure Arrange exposure to significant and relevant senior management/board members, Executive Development programs. Assessment Provide complete continuous assessment, evaluation and feedback alternatives. Coach Make coaches available for key skill development. Mentor Assign a senior level mentor. Assignment Move aggressively through a series of targeted, challenging, diverse and broadening jobs every 24-36 months. Development Use challenging jobs to enhance current skills and develop others.Consider as candidate for G-P sponsored graduate or executive development programs. 30. The CLC Four Lenses 31. 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

32. CONVERSATION TOPIC #1 Start by paying me a decent, market-relatedsalary .or perhaps a little bit more. We can then focus on the other things that really matter. What drives retention of talent? 33. CONVERSATION TOPIC #2 I want to have absolute clarity ofwhat the Company can providebefore I commit The psychological contract 34. CONVERSATION TOPIC #3 Freedomandautonomymean a lot to me. Lets discuss the expected outcomes from the task , but then leave me to get on with it. Generation gap? 35. CONVERSATION TOPIC #4 I look at thequality of leadershipbefore a make a decision for a better job, or consider a transferCareer decisions 36. CONVERSATION TOPIC #5 Im not too concerned with the rigidities and formalities of performance management systemsI just want to get on with the job. But I thrive onfeedback ongoing, honest and sometimes fierce feedback.Career decisions 37. CONVERSATION TOPIC #6 Although we dont talk about it much ,recognitionis a big thing. Recognition through financial reward is great, but non-financial recognition also plays a big role. Line of sight 38. CONVERSATION TOPIC #7 I suppose Im a true believer in life-longlearning : training and development, coaching and mentoring all those things mean a lot to me. Drivers of talent growth 39. CONVERSATION TOPIC #8 But I regard everyone as talented. I dont like theblue eyed boy syndromein our organization Definition and affirmation of talent 40. CONVERSATION TOPIC #9 My passion lies in geology. Yes, Im obsessed with rocks. But, please, Idont want to manage people thats a big turn-off for me. That said, what are my career prospects? Only management? 41. CONVERSATION TOPIC #10 I know that Im not the cream of the crop.I realize that Im not super-intelligent. However, I am asolid performerand add a lot of value. I am also very loyal. Dont forget about me. Balance in organizations 42. CONVERSATION TOPIC #10

  • Look after the top talent, but dont forget about the B players.
  • Possibly the B players are the real stars in the organisation.
  • The A players tend to be constantly on the look for greener pastures, and are often very self-centred.
  • Like any employees, no matter how secure and grounded, B players need nurturing and recognition.

Harvard Business Review 43. CONVERSATION TOPIC #11 I look at what the psychometric tests say it is a scientific way for me as a line manager toidentify talented people Assessment and testing 44. 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 topush the boundaries . Are talented people all mavericks? 45. 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 acceptablework-life balance . WLB a Company manual entry? 46. CONVERSATION TOPIC #14 Yes, Im 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. 47. CONVERSATION TOPIC #15 Im 59 and should be retiring next year. ButI am still healthy-mentally, physically and emotionally.Can we not work out a deal where, afterretiring, I work for the company two days a week? 48. 1 . People First! 49. When land was the productive asset, nations battledover it. The same is happening now fortalented people. Stan Davis & Christopher Meyer,futureWEALTH 50. Talent! Tina Brown :The first thing is to hire enough talent that a critical mass of excitement starts to grow. Source:Business2.0 51. 2.Soft is Hard! 52. 53. 3 . FUNDAMENTAL PREMISE: We Are in an Age of Talent/Creativity/ Intellectual-capital Added. 54. Human creativity is the ultimate economic resource. Richard Florida, The Rise of the Creative Class 55. 56. 4 . Talent Excellence in Every Part ofEvery Organization. 57. 58. 5 . P.O.T./ Pursuit Of Talent = OBSESSION. 59. The leaders of Great Groupslove talent and know where to find it. Theyrevel in the talent of others . Warren Bennis & Patricia Ward Biederman,Organizing Genius 60. 6 . Talent Masters Understand Talents Intangibles. 61. Visibly energetic /Passionate/Enthusiastic about everything. Engaging/Inspires others.( Inspires the interviewer!) Lovesmesses & 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: Exceptionaltalent selection & developmentrecord.(Former co-workers: Did you visibly grow while working with X? /How has the department/team grownon a world-class scale during Xs tenure?) 62. 7 . HR Is Cool. 63. HR doesnt 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) 64. 8 .There Is an HR Strategy/ HR Vision 65. Omnicom very simply is about talent. Its about the acquisition of talent, providing the atmosphere so talent is attracted to it. John Wren 66. EVP =Challenge, professional growth, respect, satisfaction, opportunity, reward Source: Ed Michaels et al.,The War for Talent 67. 9 . There Is a FORMAL Recruitment Strategy. 68. 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 were leaving money on the table by not duplicating our shows. Theyre right. Daniel Lamarre, president). Source: The Phantasmagoria Factory/ Business 2.0 /1-2.2004 69. 10 .HR Strategy =BUSINESSStrategy 70. People Department Center for Talent Excellence Seriously Cool People Who Recruit and Develop Seriously Cool People Etc. 71. 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 peoplethe dealing with peopleJackto the Stanford MBA Class 72.