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DEVELOPING AN
ENHANCED EVP TO
ENGAGE AND
ATTRACT KEY
TALENT
June 2013

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

1
Agenda
Introduction
•
•

Introduction and welcome
An overview of our research

Key finding from our research: what
talent wants
• Background content
• Individual journey to talent segmentation
• Table Activity: Talent interest groups

Using storytelling to attract and engage
critical talent
• Storytelling and the rich picture
• …So tell us a story….

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

2
An overview of our research

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

3
KEY FINDING FROM
OUR RESEARCH
WHAT TALENT
WANTS: THE
JOURNEY TO TALENT
SEGMENTATION

1.

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

4
What talent wants: the context we are operating in
Then (2007)

Now

The Top Five talent issues
THEN

The Top Five talent issues
NOW

1. Identifying and developing
the internal talent pipeline

1. Identifying and developing
the internal talent pipeline

2. Succession coverage for
business critical roles

2. Acquiring strategic skills for
the future

3. Acquiring and developing
mobile managers

3. Retention of talent
4. Introducing/recalibrating
talent management

4. Acquiring and developing
technical experts

5. Using talent management to
drive change/turnaround

5. Retention of talent

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

5
What we explored

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

6
What we found

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

7
Why does it matter?
The relationship between total shareholder return (TSR) and the degree
of alignment between what talented individuals in a particular
organisation said they want and what their organisation said it offers
them.

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

8
How well do you know your talent?

What are their needs
Could you be doing

and wants?

any more to meet
their needs, wants
and challenges?

What challenges do they
face?

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

9
The six groups we found

Brand Enthusiasts

Opportunity Seekers

Career Ladderists

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

Planners

10

Connectors

The Nurtured
Matching what you offer to the needs of the Talent Interest Groups
Once you know your Talent Interest Groups, their challenges and the employee experience you want to create
for them, the next step is to use all of that insight to create EVPs that match what you offer to the needs of the
groups.

A good place to start would be to
determine the core areas of your EVP.
Our model takes a holistic view of
compensation, benefits, learning and
development and work environment.

Then think about what you are offering
within each of these areas.

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

11
Table activity: what this means for organisations

Think about the Interest Group you have been allocated...

What could your organisations do, to really cater for the needs and wants
of this group of people?

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

12
USING
STORYTELLING TO
ATTRACT AND
ENGAGE CRITICAL
TALENT

2.

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

13
Engagement through storytelling – The Walt Disney example

What does this story do…?

The idea of Disneyland is a simple one. It will be a place for people to find happiness and
knowledge. It will be a place for parents and children to spend pleasant times in one
another’s company, a place for teachers and pupils to discover greater ways of
understanding and education. Here the older generation can recapture the nostalgia of days
gone by, and the younger generation can savour the challenge of the future. Here will be
the wonders of Nature and Man for all to see and understand. Disneyland will be based
upon and dedicated to the ideals, the dreams and hard facts that have created America.
And it will be uniquely equipped to dramatise these dreams and facts and send them forth as
a source of courage and inspiration to all the world. Disneyland will be something of a
fair, an exhibition, a playground, a community centre, a museum of living facts, and a
showplace of beauty and magic. It will be filled with the accomplishments, the joys and
hopes of the world we live in. And it will remind us and show us how to make those wonders
part of our lives.

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

14
Telling your EVP story
What is the compelling story behind your EVP?
• Work in pairs to create your story
• On your tables, share your stories and receive feedback

• Feedback should focus on your responses as the audience to the story:
• How did you fell when you heard the story?
• What did the story encourage you to do?
• What did you feel or think about the speaker?
• What would you have loved to hear more of?
• Plenary to share stories and experiences

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

15
Engagement through storytelling – Hints and Tips

PA CONFIDENTIAL - Internal use only
© PA Knowledge Limited 2013

16

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Developing an enhanced EVP to engage and attract key talent

  • 1. DEVELOPING AN ENHANCED EVP TO ENGAGE AND ATTRACT KEY TALENT June 2013 PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 1
  • 2. Agenda Introduction • • Introduction and welcome An overview of our research Key finding from our research: what talent wants • Background content • Individual journey to talent segmentation • Table Activity: Talent interest groups Using storytelling to attract and engage critical talent • Storytelling and the rich picture • …So tell us a story…. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 2
  • 3. An overview of our research PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 3
  • 4. KEY FINDING FROM OUR RESEARCH WHAT TALENT WANTS: THE JOURNEY TO TALENT SEGMENTATION 1. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 4
  • 5. What talent wants: the context we are operating in Then (2007) Now The Top Five talent issues THEN The Top Five talent issues NOW 1. Identifying and developing the internal talent pipeline 1. Identifying and developing the internal talent pipeline 2. Succession coverage for business critical roles 2. Acquiring strategic skills for the future 3. Acquiring and developing mobile managers 3. Retention of talent 4. Introducing/recalibrating talent management 4. Acquiring and developing technical experts 5. Using talent management to drive change/turnaround 5. Retention of talent PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 5
  • 6. What we explored PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 6
  • 7. What we found PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 7
  • 8. Why does it matter? The relationship between total shareholder return (TSR) and the degree of alignment between what talented individuals in a particular organisation said they want and what their organisation said it offers them. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 8
  • 9. How well do you know your talent? What are their needs Could you be doing and wants? any more to meet their needs, wants and challenges? What challenges do they face? PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 9
  • 10. The six groups we found Brand Enthusiasts Opportunity Seekers Career Ladderists PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 Planners 10 Connectors The Nurtured
  • 11. Matching what you offer to the needs of the Talent Interest Groups Once you know your Talent Interest Groups, their challenges and the employee experience you want to create for them, the next step is to use all of that insight to create EVPs that match what you offer to the needs of the groups. A good place to start would be to determine the core areas of your EVP. Our model takes a holistic view of compensation, benefits, learning and development and work environment. Then think about what you are offering within each of these areas. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 11
  • 12. Table activity: what this means for organisations Think about the Interest Group you have been allocated... What could your organisations do, to really cater for the needs and wants of this group of people? PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 12
  • 13. USING STORYTELLING TO ATTRACT AND ENGAGE CRITICAL TALENT 2. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 13
  • 14. Engagement through storytelling – The Walt Disney example What does this story do…? The idea of Disneyland is a simple one. It will be a place for people to find happiness and knowledge. It will be a place for parents and children to spend pleasant times in one another’s company, a place for teachers and pupils to discover greater ways of understanding and education. Here the older generation can recapture the nostalgia of days gone by, and the younger generation can savour the challenge of the future. Here will be the wonders of Nature and Man for all to see and understand. Disneyland will be based upon and dedicated to the ideals, the dreams and hard facts that have created America. And it will be uniquely equipped to dramatise these dreams and facts and send them forth as a source of courage and inspiration to all the world. Disneyland will be something of a fair, an exhibition, a playground, a community centre, a museum of living facts, and a showplace of beauty and magic. It will be filled with the accomplishments, the joys and hopes of the world we live in. And it will remind us and show us how to make those wonders part of our lives. PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 14
  • 15. Telling your EVP story What is the compelling story behind your EVP? • Work in pairs to create your story • On your tables, share your stories and receive feedback • Feedback should focus on your responses as the audience to the story: • How did you fell when you heard the story? • What did the story encourage you to do? • What did you feel or think about the speaker? • What would you have loved to hear more of? • Plenary to share stories and experiences PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 15
  • 16. Engagement through storytelling – Hints and Tips PA CONFIDENTIAL - Internal use only © PA Knowledge Limited 2013 16

Editor's Notes

  1. Firstly wanted to provide you with some background context in terms of what organisations told us were their top talent issues (comparison with 2007)One of the key things you can see from this picture is that identifying and developing talent in organisations remains a key challenge for organisations and that retaining these critical individuals is becoming increasingly important.Organisation more future focussed – looking at how that could help drive their future strategy-Acquiring strategic skills was the only new and one of the most common challenges described to us by a number of organisations. -New strategic direction - predicted some skills that they will need to acquire going forward. These are not so much leadership or technical skills as we traditionally know them, but are more a category of strategic skills which will drive new plans going forward
  2. To answer the question of what talent wants, we asked 3 key questions of talented individuals and organisations and compared the responses:First, we asked organisations what they think talented individuals wantSecond, we asked organisations what they actually offer their talented individualsThird, we asked talented individuals what they want from their relationship with their organisation
  3. Significant disconnect - explored in detail in our depiction of ‘Talentville’ Each block represents each of the three perspectives – size relates to how prevalent (Detailed breakdown in the full research report – wanted to pull out some highlights today)Overall in terms of how aligned what talent wants is with what organisations offer – there was only 45% alignment!KEY INSIGHTSYELLOW – what talent wantCulture and values that align to my beliefs (48%) Connection with strategy (44%)Great colleagues (28%)Empowerment (10%)PURPLE – what organisations offerMentor/Coach – 67% org offer/20% talent wantNot all negative - Some clear alignmentDevelopment opportunities/stretch and challengeRewardedMoving around the organisationOVERALL – some of the things really important are around connection to org- embedded through open and transparent communication
  4. The business/ commercial importance of this is that those organisations that have a greater degree of alignment with what their talented individuals want, had an average TSR of up to 42% higher than those organisations that are misaligned.
  5. This led us to the big conclusion “you don’t know talent as well as you think you do”! Need an insight into some key questions (read from slide)To help answer these questions we explored the responses from talented individualsAre there any trendsDemographics - Generational? Seniority? Gender?No patternsSo we employed a market segmentation specialist - detailed segmentation analysis of the individuals responsesAll of the answers we received from talented individuals were coded by psychographic and attitudinal factors and then a segmentation analysis was run on this data to see where like groups could be found
  6. Finish section at 4.05DESCRIBE EACH OF THE 6 GROUPS Key message to draw is that our findings are about the long-term relationship between an organisation and an individual, rather than short-term programmatic offers that can change in line with a shift in external context.STUDENTSWhat was interesting about the responses that we got from students was that it seemed they had very wide and ranging expectations in terms of what they wanted – SO MUCH SO THAT WE COULD NOT PLACE ANY ONE OF THE STUDENTS WE SPOKE TO INTO ONE OF OUR 6 TALENT INTEREST GROUPS.Diversity Our approach to talent segmentation does not mean that the diversity agenda will be forgotten! We see diversity as having a twofold importance in talent management. First, it is about ensuring that you identify the right people. Your definition(s) of talent therefore need to look beyond any stereotypes of what talent should look like (e.g. white, Anglo-Saxon, male) and seek out what real talent is about in your organisation. This means that you are likely to get different people into the mix with greater demographic diversity. Second, diversity is about inclusion; it is about involving and utilising people once they have been identified. Getting to know your talent at a personal level means that you will get the best out of each individual.
  7. Our model for this considers a balance of four things:CompensationBenefitsLearning and developmentWork environment To gain a balanced EVP, you would need to think about what you are going to offer within each of these 4 areas. In our report we have shown example EVPs using this tool for the ‘Career Ladderist’ and ‘connector’ Interest Groups and it shows an excellent contrast between how things would differ for the two groupsE.g. example criteria for Career Ladderist:Compensation: Long-term incentive linked to seniorityLearning and Development: Top-level sponsor to aid rapid deployment
  8. 4.05-4.25KEY QUESTION: How can you use this information in your organisation?Firstly, to look at the employee value proposition you currently offer your talent.What you offer, cater for the needs and wants of the different interest groups?To bring this to life a little for you, we thought, this would be an interesting topic to discuss in groups: Assign/Choose group 4/5 people (try to each have different Interest Group)In your group, think about the primary interests of your group and what an organisation could do, that would really cater for this type of person? On the A3 sheet, capture your ideasWhat one person to playback key insight in 15 minutes (4.20)In plenaryPLAYBACK: What did you come up with, that would be most important for you to offer somebody in your talent interest group?Through this exercise, you begin to see how each group is different and therefore how important it is to tailor the employee value proposition that you offer them.POTENTIAL FURTHER DISCUSSION:What are the issues that you might come up against in defining offers for these individuals in their organisations (implications for different organisational contexts)PAUSE – ACTION LEARNING SET (4.25-4.40)Q- Any thoughts, reflections and questions based on today’s discussion?Q- Any issues or challenges you are currently facing in your organisation, related to talent or something completely else?