Talent Management – What if your people with get up and go ...

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  • We will see that Talent Management is a big risk to all organisations At Zurich we have recognised this as an issue and have developed ways to manage this One of these is bringing a risk based approach to our people Today will highlight some of the ways we have done this and perhaps illustrate how this can be adapted to help you solve one of your biggest risks
  • SO it is RELEVANT to you as risk managers – big area of risk It will also interest HR people, CE, Directors etc., but should also be on your radar “ Bring me solutions!!!” – Risk management has to be seen to innovate and move forward so that we can help offer and develop solutions – added value. Talent Management is a way that we can do this for the benefit of the organisation. So we think the concept should interest you today for these reasons
  • SO it is RELEVANT to you as risk managers – big area of risk It will also interest HR people, CE, Directors etc., but should also be on your radar “ Bring me solutions!!!” – Risk management has to be seen to innovate and move forward so that we can help offer and develop solutions – added value. Talent Management is a way that we can do this for the benefit of the organisation. So we think the concept should interest you today for these reasons
  • Zurich, the leading insurer and risk manager for the public services in the UK, has assessed the major risks facing four sectors that are key to the delivery of essential public services: local authorities, educational institutions, housing associations and charities. The assessment was partly based on internal claims data and other published materials, but also focused on discussions with experts within these sectors. CIPFA Scotland breakfast session Being able to recruit and retain staff with the skills and experience and this is a big issue for the whole of Scotland in a number of professional areas. Includes succession planning and developing staff. Also project and procurement skills
  • first, as organisations in the service industry, their reliance on the skills of their people is arguably greater than that of manufacturing, for example, where technology plays a large part.
  • SO it is RELEVANT to you as risk managers – big area of risk It will also interest HR people, CE, Directors etc., but should also be on your radar “ Bring me solutions!!!” – Risk management has to be seen to innovate and move forward so that we can help offer and develop solutions – added value. Talent Management is a way that we can do this for the benefit of the organisation. So we think the concept should interest you today for these reasons
  • Talent Management can help both employees and the organisation consider these questions : leading to the appropriate development solutions: which will allow individuals to maximise their potential (and the organisation gets the best out of the workforce) So it is a soultion to one of your biggest risks – so for you as risk managers this becomes relevant!
  • Talent book provides a risk based structure to the process of talent management, offering senior managers a simple objective management tool to analyse and shape their talent management strategy. You will already be formally monitoring performance – historical. But are you formally looking at potential of staff and managers
  • People can move and be managed along the grid – just like a risk. So you see the risk based approach
  • How do we ensure consistency: Talent Book Workshop for all people managers People Panel / Forum Data record: Systems Document discussions
  • Talent Book Workshop for all people managers People Panel / Forum
  • SO it is RELEVANT to you as risk managers – big area of risk It will also interest HR people, CE, Directors etc., but should also be on your radar “ Bring me solutions!!!” – Risk management has to be seen to innovate and move forward so that we can help offer and develop solutions – added value. Talent Management is a way that we can do this for the benefit of the organisation. So we think the concept should interest you today for these reasons
  • Talent Management – What if your people with get up and go ...

    1. 1. Talent Management – What if your people with get up and go, get up and go? CIPFA Scotland 2008 Owen Rees 13 th March 2008
    2. 2. About Zurich Municipal Risk Management management of risk and opportunity change management business continuity project and partnership management talent management <ul><li>Part of Zurich Financial Services Group - a global 100 company </li></ul><ul><li>Manage the full range of public sector risk management issues through working tools and transfer of skills </li></ul><ul><li>Leading the way on understanding public sector risks </li></ul><ul><li>Innovative solutions to your key business risks </li></ul>
    3. 3. What are we talking about today? <ul><li>Not having the right people in the right place at the right time to do the right job </li></ul>……………… . is one of the most significant business risks to appear on most organisation’s business risk registers .
    4. 4. An issue for you? <ul><li>Does your organisation have an aging workforce? </li></ul><ul><li>Do you find it difficult to recruit? </li></ul><ul><li>And if you can do you get the right skills and experience? </li></ul><ul><li>Is it increasingly difficult to hold onto your best staff? </li></ul>
    5. 5. One of the top risks facing the public sector <ul><li>Source: Perception and reality - The real risks for public service and charitable organisations - Zurich </li></ul>
    6. 6. So why is it a risk? <ul><li>Demographic change : </li></ul><ul><li>McKinsey & Co. used the term ‘War for Talent’ to describe the fact that the supply of 35-44 year olds in the U.K will drop by 21% in the next 15 years, whilst the economic growth forecasts will cause a demand for an extra 25% of talented executives </li></ul><ul><li>Aging workforce - At present there are some 17m people in the UK aged 20-40 and 14m aged 45-65. By 2020 the projections are that the younger group will decrease to 16m while the older group will increase to 17m. </li></ul><ul><li>The populations in England, Wales and Northern Ireland is predicted to continue rising for the time being. Scotland's population is expected to continue to decline. </li></ul>
    7. 7. So why is it a risk? <ul><li>Particular issues in the public sector : </li></ul><ul><li>The UK workforce is aging. The local government workforce that currently accounts for 9% of the whole UK workforce has 34% of its staff over 50. </li></ul><ul><li>We are about to experience a major ‘retirement hump’ and with it comes the loss of skills, knowledge and experience. And all of the complications of recruitment in a diminishing pool of good talent. </li></ul><ul><li>Over 50% of the public sector has reported difficulties attracting talent at both director and management levels. </li></ul>
    8. 8. So why is it a risk? <ul><li>“ Skills shortage crisis looms” – LGC, 20 th September 2007 </li></ul><ul><li>Fewer training places for professional disciplines such as town planning, building control, environmental health, public finance – the backbone of many local government professions. </li></ul><ul><li>Increased competition for staff </li></ul><ul><li>A tighter ‘talent pool’ of well-qualified and available professional officers within these “hard to fill” professions, with the local authority offering the highest pay and benefits package winning the ‘war for such talent’. </li></ul><ul><li>A workforce that is more mobile (20 years ago most people would experience two different jobs by the age of 25; in 2005 the figure is now four jobs) </li></ul>
    9. 9. Why is this important <ul><li>Without people – the other two assets are vulnerable! </li></ul>Financial assets People Physical assets
    10. 10. How we do it at Zurich
    11. 11. Talent in Zurich <ul><li>Zurich is led by a CEO who not only talks about the fact that people make the company, and that we must develop talent across the Group, but he takes an active interest in this, and demands to know what actions and strategies we have in place to do this. </li></ul><ul><li>Talent management runs right across our organisation and includes EVERYONE. When senior executives visit different businesses and countries, they expect to meet a cross section of highly talented people and to know what the talent picture looks like locally and what is being done to strengthen it. </li></ul><ul><li>This is an open approach to managing people, and it takes a bit of getting used to! </li></ul>
    12. 12. Talent Strategy
    13. 13. A Talent Strategy - example <ul><li>A Talent Strategy should address key leverage points in order to increase the quality and consistency of the talent base, for example: </li></ul><ul><ul><ul><li>Make the highest quality appointments (recruitment) </li></ul></ul></ul><ul><ul><ul><li>Improve the calibre & performance of existing talent (Personal Development Plans,learning and development, performance management and appraisals) </li></ul></ul></ul><ul><ul><ul><li>Prepare high potential for the next level (talent book and succession planning) </li></ul></ul></ul><ul><ul><ul><li>Retain the best people, skills and knowledge (talent book) </li></ul></ul></ul>
    14. 14. How might we deliver the Strategy?
    15. 15. You already do this? <ul><li>I’m sure you already do a lot of these things? </li></ul><ul><li>But its getting harder and resources are getting tighter </li></ul><ul><li>How can we focus this activity and make it more effective? </li></ul>
    16. 16. Talent Management
    17. 17. What is Talent Management? Scene 1 – the monthly 121 – two sides of the same coin “ How can I make the most of my talent and realise my full potential?” “ How can I make the most of his talent and realise our potential?”
    18. 18. What is the aim of Talent Management? <ul><li>Identify, understand and share current levels of performance and potential </li></ul><ul><li>Help toward achievement of full potential by agreeing appropriate actions for development </li></ul><ul><li>Help with career management </li></ul><ul><li>Offer a more objective assessment of performance by using Talent Book </li></ul>
    19. 19. Talent Book
    20. 20. What is Talent Book? <ul><li>Talent Book is a tool to be used as part of performance and talent management which: </li></ul><ul><li>gives managers an understanding of talent and future potential </li></ul><ul><li>helps managers identify action plans </li></ul><ul><li>allows the business to establish (and share) the depth of talent and potential </li></ul>
    21. 21. How does Talent Book work? <ul><li>Talent Book is based around a 9-box talent grid with two axes: </li></ul><ul><li>Performance (x axis) </li></ul><ul><li>Does not / partially meets expectations </li></ul><ul><li>Meets expectations </li></ul><ul><li>Exceeds expectations </li></ul><ul><li>Potential (y axis) </li></ul><ul><li>No / limited growth </li></ul><ul><li>Potential growth / role expansion </li></ul><ul><li>Seeks new challenges </li></ul>
    22. 22. Talent grid-risk based approach
    23. 23. Talent grid
    24. 24. How do we rate these well known people? <ul><li>Get into groups </li></ul><ul><li>Look at your handouts </li></ul><ul><li>Rate these well known people on the Talent Grid </li></ul><ul><li>Any ideas on how we should deal with them! </li></ul>
    25. 25. How it works in practise <ul><li>Two-way discussion with each member of your team to explain Talent Book </li></ul><ul><ul><li>Ask your team member to review their position and explain why they have positioned themselves where they have </li></ul></ul><ul><ul><li>Explain where you have positioned them and discuss reasons for this </li></ul></ul><ul><ul><li>Discuss the differences and agree a final position </li></ul></ul><ul><ul><li>Review where the individual would like to be on Talent Book and agree a development plan to achieve this. Career discussion </li></ul></ul><ul><li>Moderation – people panel </li></ul><ul><li>Open and honest, transparent, consistency, develops management skills </li></ul><ul><li>Forces people to manage! </li></ul>
    26. 26. Benefits of Talent Book for the business <ul><li>Helps to identify appropriate actions for individual development and performance improvements </li></ul><ul><li>Supports more dynamic and broader succession planning in the business </li></ul><ul><li>Supports development activity in the business and avoids a ‘one size fits all’ approach </li></ul><ul><li>A more consistent approach to your understanding of talent and how to reward and develop it. </li></ul><ul><li>Creates a pipeline of talent that has as strong element of ‘home grown’ ,as well as externally recruited people. </li></ul><ul><li>Helps to identify gaps and blockages in your talent pipeline and drives action accordingly. </li></ul>
    27. 27. How does this differ from appraisals and personal development plans? <ul><li>Based on an assessment of potential </li></ul><ul><li>Forward looking and tailored to the individual </li></ul><ul><li>The talent management plan differs from a Personal Development Plan because it captures more than an individual’s development needs </li></ul><ul><li>It summarises the overall talent discussion e.g. </li></ul><ul><ul><li>career aspirations </li></ul></ul><ul><ul><li>roles they may be successors for </li></ul></ul><ul><ul><li>when they may be ready for these roles </li></ul></ul><ul><ul><li>support and development needed and planned </li></ul></ul>
    28. 28. How does this information help us?
    29. 29. What do we do with the information? <ul><li>People Panel / Forum </li></ul><ul><li>Succession plans </li></ul><ul><li>Executive Talent review </li></ul><ul><li>Talent management plan </li></ul><ul><li>Career discussions </li></ul><ul><li>Career track </li></ul><ul><li>Talent pools </li></ul><ul><li>Identify candidates for development opportunities, projects etc </li></ul>
    30. 30. Succession planning
    31. 31. Succession Planning <ul><li>It is vital that every organisation plans for the future to ensure that its needs are continuously met. Filling key roles is one of the most difficult management functions and potentially the most critical. </li></ul>
    32. 32. What are the advantages of succession planning <ul><li>Strong pipeline of leaders / functional experts </li></ul><ul><li>No sudden surprises - manages& reduces risk </li></ul><ul><li>Encourages thinking beyond immediate line or function </li></ul><ul><li>Encourages development of successors in advance of them taking on that role / level </li></ul><ul><li>Encourages thinking around future needs and skill set requirements </li></ul><ul><li>Provides a career structure </li></ul><ul><li>Can motivate employees </li></ul><ul><li>NOT predetermining who is getting a job. It is developing a team of people, with the right potential, who will be able to compete for the opportunity . </li></ul>
    33. 33. Developing a Succession Plan <ul><li>Identify: </li></ul><ul><li>The key roles </li></ul><ul><li>An immediate successor </li></ul><ul><li>A successor in 1-2 years </li></ul><ul><li>A successor in 3-5 years </li></ul><ul><li>An emergency replacement </li></ul>
    34. 34. In summary <ul><li>Talent management is a risk based approach that helps us ensure that we have the right people in the right place at the right time to do the right job </li></ul>So is part of the solution to managing one of our biggest business risks
    35. 35. Any Questions? <ul><li>Any further questions? </li></ul><ul><li>If not - thank you very much! </li></ul><ul><li>Owen Rees, Principal Risk Management Consultant </li></ul><ul><li>Mobile: 07730 735 407 </li></ul><ul><li>Office: 01252 387 722 </li></ul><ul><li>E-mail: owen.rees@uk.zurich.com </li></ul>

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