Talent Management
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Transcript of Talent Management
Talent ManagementHow to Recruit, Nurture and
Retain your people
Recruit
Think of Recruiting Talent as Being Like
You need to create the right degree of magnetism with:• The Organisation’s Brand • Effective People Practices
Your Brand
• Present your organisations culture as it really is, rather than some idealised projection that will ultimately cause high attrition rates and damage the brand
People Practices
People Practices
Effective management
Interesting & rewarding
work
Personalised development
plans
Networking and
Collaboration
Ethics and CSR
Coaching and Mentoring
Sound recruitment Strategies
Recruitment Strategies
Old Reality New Reality
Recruiting is like purchasing Recruiting is like sales and marketing: organisation is the product
Recruit from traditional sources Look at the diverse pools of talent and be prepared to train and develop
People accept offers People demand much more
Recruit to fill today’s positions Hunt for talent all the time an plan much farther ahead
Top Drivers to Attract Talent
Competitive base pay
Work life balance
Challenging work
Career advancement opportunities
Salary linked to individual performance
Nurture
A strong strategic
leadership
A strong strategic narrative
An employee
voiceIntegrity
The VIDI Culture
V Valued
I Involved
D Developed
I Inspired
Engaging Talent
Retain
Organisation retains people with necessary skills
Satisfaction with the organisation’s decision
My manger understands what motivates me
An ability to balance my work-personal life
The reputation of the organisation as a good employer
Six mistakes that may doom your talent investment
Assume that high potentials are
highly engaged
Equate current high performance
with future potential
Delegate down the management of
top talent
Shield rising stars from early derailment
Expect star employees to share the pain
Fail to link stars to your corporate
strategy
Action on Retention
Relationship
Engagement
Job design
Equity
Communication
Define expectations
Test
Volunteers
RecognitionCompensation Package
Work-life balance
Feedback
Growth Opportunities
Social Interaction
Creating a Talent Retention Culture
VIDI Framework
Effective teams & Mutual respect
Expertise & Competence
Respected Leadership &
Openness
Risk taking
Engagement is expected
Promote from within & work-life balance
10 ways to improve your Talent Management
1. Avoid metrics for the sake of metrics2. Establish a process for deciding what you consider
success3. Seek to be able to answer the question4. Make sure chosen metrics drive intended action5. Pay particular attention to levels of employee
engagement and ways to measure it, not just once but regularly
10 ways to improve your Talent Management
6. Narrow down the talent metrics to a manageable few – not more then 2 or 3
7. Use a metric to show whether succession planning within your own area of influence enables mainly, internal recruitment
8. Consider using a metric showing employee retention rates
9. Benchmark your local retention rates 10. Track talent development and performance to make
smart decisions about talent
How to get the message to Different Audiences
Different Audiences Different Approaches
High Potentials Turn your talk into questions
Board levels Talk about a story
Line managers Talk a bout the processes
Front line staff Talk about engagement
Other stakeholder, such as shareholders
Talk about unlocking potential
Are you asking the right questions about your Talent Management
Do your recruitment programmes attract your future managers
Do you know which employees are ready for management positions
Can we identify inspirational or potentially inspirational leaders
What will be our staffing needs in five years time
Which employees are at risk of leaving, what can we do to keep them
Do we have the right skills mix to achieve our goals
What will our future leaders need in the way of specific skills and attributes
Should we limit development to a few high potentials or spread it more widely
What is the current attrition rate in the organisation and what is it costing
What is the level of engagement in the organisation
How do we raise engagement levels to attract maximum discretionary effort
Does our remuneration strategy actively support talent
What metrics do we rely on to manage our talent
Thank you Page