Talent Mangagement

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  • You should use this slide to really speak to the evolution of the profession: Labor Management, Personnel, Human Resources, and now . . . Talent Management. To make this provocative, I’d make the case that “Talent Management” is “HR” in the New Economy (tying it into their theme)
  • 1. Unlimited Supply of People (Baby Boomer retirement not yet an imminent threat + US Birth rates were high and immigration offered even more supply of workers = ample supply of talent overall and employers could be selective, although we had critical shortage areas at times) 2. Everyone wanted to work in Corporate America; best students abroad wanted to land a job in America and America’s graduates had no desire to leave the country for career opportunities 3. Although we experienced the normal cyclical recessionary periods, overall trends were positive/upward Buyer’s Market. Companies “interviewed” and selected people – not the reverse Job-Hoppers were not looked upon favorably; stability and employment loyalty was encouraged
  • It started in a few areas (like IT and Engineering), but a strong economy pushed unemployment levels so low that the “War For Talent” became real and broad-based (we began to loosen immigration rules to allow companies to recruit talent to come to the US to work, we off-shored and outsourced jobs, etc.) Employees realized they didn’t need the security of an employer; they could be their own bosses. They could work when they wanted, earn as much as they were willing to work, and they could buy their own healthcare benefits and save for their own retirement. As we began to relax our borders to recruit foreign talent to help with our worker shortage, other countries began to do the same thing – recruiting some of our best and brightest college graduates, newly-minted MBAs, and experienced managers outside of the US Aging Baby Boomers began to contemplate retirement (many did so early because of the strength of their retirement portfolios in a booming economy) and Minorities (Blacks and Hispanics in particular) became critical to employers seeking to fill vacancies The new crop of future workers did not have the same work ethic or expectations, so there was intergenerational workplace issues to contend with and a major paradigm shift in work/life balance thinking
  • This is the set-up for the New HR in the New Economy, which I’d call “Talent Management”
  • You can describe the 5-pronged model that is the new HR/Talent Management Business Operating Model. Talent Acquisition -- waiting until there is a pressing need for talent is absolutely a bad idea. Frankly, this is the time when smart organizations are culling the non-performing talent and searching for upgraded talent. When the economy rebounds, it’ll be too late Employee Relations – given the low morale currently in our organizations, this has to be a key element of any new talent management strategy. Focusing on how we treat employees (the “soft-side” of HR) will prove to be a real differentiator for employers as the market heats up Rewards – we’ve got to get compelling compensation and benefit packages together. A top-down approach to understanding what our employees value in their rewards program will be key to recruiting and retaining them Pedagogy (formerly Training & Development) – new workers come to workplace with less basic knowledge and skills than ever before largely due to secondary school failures. In a knowledge economy we must not only focus on developing our “stars,” but we must provide basic skills training to our entry-level workforce. With the “greying and browning” of the workforce at once, we have to prepare for older, more experienced workers leaving and younger, less-trained workers coming in. So, Pedagogy will become a real competency in the new Talent Management world. Succession Planning – Because the Baby Boomers are leaving, we simply must have a comprehensive plan to replace the leadership that’ll be exiting our organizations during the next 5-10 years
  • This is a simple and clear 4-step model to satisfying the business expectation for the Talent Management/HR function: Stage 1: I’d encourage the HR audience to engage in a healthy and comprehensive process of learning as much as they can from clients, employees, management, etc. about the business and how HR can and should impact it Stage 2: I’ve attached a document (you may even give it out as a hand-out). If you choose not to, though, you can talk to it. Stage 3: Emphasize the importance of operating the HR/Talent Management Department as its own business – with customers, service delivery targets, even revenue goals. I would encourage the leaders to think of them running an HR Consulting Firm within their organizations, which requires that they develop and execute their business plan. Stage 4: All of this is in vain, if they do not assemble the right professionals to carry-out their business plan – so making sure they have the right HR talent will be paramount. If the #1 thing HR/Talent Management does right is to identify and attract the best talent, it stands to reason you need the best talent running that part of the function.
  • This is a flow chart/diagram created by the Gallup Organization that highlights the criticality of a strong HR/Talent Management function within an organization. It’s pretty self-explanatory, but has been positioned as a good construct for the HR/Talent Manager business case. It also gives you the opportunity to focus on hiring the right people.
  • Again, you can use this as a slide to talk to, as a handout, or as both
  • Talent Mangagement

    1. 1. Talent Management in 2015: HR for the New Economy Presented To: GE HR Alumni Conference By: Michele James October 16, 2009
    2. 2. THE WORLD’S OLDEST PROFESSION <ul><li>Executive Search </li></ul>
    3. 3. THE HISTORY <ul><li>Phoenicians </li></ul><ul><li>Invented </li></ul><ul><li>Search </li></ul>
    4. 4. THE HISTORY OF EXECUTIVE SEARCH <ul><li>Queen Isabella Professionalized It </li></ul>
    5. 5. THE HISTORY OF EXECUTIVE SEARCH <ul><li>Black Plague </li></ul><ul><li> “ Posting Begins” </li></ul>
    6. 6. THE HISTORY OF EXECUTIVE SEARCH <ul><li>Rosie the Riveter </li></ul>
    7. 7. KEY TYPES OF SEARCH TODAY <ul><li>Contingent </li></ul><ul><li>Headhunters </li></ul>
    8. 8. THE HISTORY OF EXECUTIVE SEARCH <ul><li>Today - Executive Search plays a major part in EVERY companies war for talent, and Talent Management. </li></ul>
    9. 9. Talent Management Progression
    10. 10. TALENT MANAGEMENT IN THE 80’S AND 90’S: THE ‘GOOD OLD DAYS’ <ul><li>Seemingly Unlimited Supply of People </li></ul><ul><li>No Real Threat of Global Competition for Talent </li></ul><ul><li>Strong US Economic Environment </li></ul><ul><li>Companies Interviewed People </li></ul><ul><li>Long-Term Employment Valued and Encouraged </li></ul>
    11. 11. TALENT MANAGEMENT IN THE 80’S AND 90’S
    12. 12. TALENT MANAGEMENT IN 2000: OMG! <ul><li>Shortage of Talent – Unemployment dropped to 2.5% (and lower in some parts of the country.) Functionally at full Employment </li></ul><ul><li>Traditional employer/employee relationship becomes less attractive to EMPLOYEES- Flex time, job share, telecommute </li></ul><ul><li>World Shrinks & Flattens – Fierce Global Competition For Talent </li></ul><ul><li>America Greys and Browns – ‘ Pot’ fully melting </li></ul><ul><li>“ Millenials” Come To Work – New mindsets and values emerge </li></ul>
    13. 13. TALENT MANAGEMENT IN 2010 THE ECONOMY HAS CHANGED OUR COMPANIES – RADICALLY, RAPIDLY AND FOREVER. IS YOUR HR TALENT MANAGEMENT TEAM LEADING THE CHANGE TOO – OR JUST ALONG FOR THE RIDE?
    14. 14. TALENT MANAGEMENT 2010 - 2015 We don’t know exactly when the economy will regain its footing, but consensus is for longer slower rebound, which will create a major challenge and a new opportunity for HR Talent Management
    15. 15. TALENT MANAGEMENT 2010 - 2015: WHAT WE KNOW <ul><li>Employers unlikely to over-hire or ramp up too quickly </li></ul><ul><li>Employees remain ‘risk adverse’ to moves and changes </li></ul><ul><li>Managing current employees critically important for success </li></ul><ul><li>Need to balance static workforce with dynamic marketplace </li></ul><ul><li>Employee training, motivation, reorganization and evaluation grow in importance </li></ul><ul><li>Greater need to link employee measurement to results </li></ul>
    16. 16. TALENT MANAGEMENT 2010 - 2015: QUESTIONS EMERGE <ul><li>Why is Talent Management so Important to an Organization? </li></ul><ul><li>How do I education my company leadership about Talent Management? </li></ul><ul><li>How can HR gain a larger voice in the company? </li></ul><ul><li>Where is HR going to be in 2015 and beyond? </li></ul><ul><li>Which companies illustrate ‘Best Practices’ on Talent Management today? </li></ul>
    17. 17. TALENT MANAGEMENT 2010 – 2015 <ul><li>BUSINESS LEADERS ARE CLEAR ABOUT WHAT THEY NEED AND WANT FROM A TALENT MANAGEMENT PERSPECTIVE: </li></ul><ul><li>Help us find the best people </li></ul><ul><li>Give us the tools, advice, and counsel on how to keep these talented people engaged </li></ul><ul><li>Help us identify and groom the best and brightest leaders to assure we have a stable and capable leadership succession strategy </li></ul>
    18. 18. TALENT MANAGEMENT 2010 - 2015: THE NEW HR IMPERATIVE
    19. 19. TALENT MANAGEMENT 2010 – 2015: 4-STEP PLAN <ul><li>Step 1: Gather Information </li></ul><ul><li>Step 2: Conduct SWOT Analysis </li></ul><ul><li>Step 3: Develop Long-Range Business Plan for HR/Talent Management Function </li></ul><ul><li>Step 4: Assemble Team of Talent Management Professionals </li></ul>
    20. 20. TALENT MANAGEMENT 2010 – 2015: THE BUSINESS CASE SOURCE: Gallup Path Microeconomics 2009
    21. 21. Talent Management 2010-2015: SWOT ANALYSIS <ul><li>SWOTs </li></ul><ul><li>What do you see as the 3 biggest strengths of current HR Department? Why? </li></ul><ul><li>What are the top three things that will make HR Department successful in next 12-24 months? </li></ul><ul><li>What do you see as the 3 largest opportunity areas for HR Department? Why? </li></ul><ul><li>Describe what you think are the 3 greatest external challenges (e.g. competitive intensity, local regulations, customer needs) HR faces in meeting the the demands of you, its customer? </li></ul><ul><li>What are the top three things the HR Department fundamentally does less well today (our challenges) than our competitors? </li></ul><ul><li>How widely acknowledged are those challenges? </li></ul><ul><li>Objectives </li></ul><ul><li>What should the most important strategic objectives be for the HR Department for the next year? </li></ul><ul><li>What’s the two or three most important things the HR Department has to ‘get right’ in the next 12 months in order to drive that success over the next 5 years? </li></ul>
    22. 22. EMERGING CONCEPTS IN TALENT MANAGEMENT <ul><li>Continuous employee feedback loops </li></ul><ul><li>Develop new performance measurements and metrics </li></ul><ul><li>Ongoing evaluation of talent marketplace outside the company </li></ul><ul><li>‘Just in Time’ candidate development </li></ul><ul><li>Your Company as Think Tank for Talent Acquisition productivity </li></ul>
    23. 23. CONCLUSION: HR DRIVES CEO DECISION MAKING <ul><li>HR and talent management must become as important as Marketing, Finance, Sales, Supply Chain or Creative </li></ul><ul><li>Performance proven results increase required to earn a seat at the table </li></ul><ul><li>Talent Management may be largest ‘controllable’ in operating business when so many other elements now ‘out of our control’ </li></ul>

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