#dubcham Talent Management Presentation by PWC

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Dublin Chamber of Commerce #dubcham Talent Management Presentation by PWC 18th May 2011

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#dubcham Talent Management Presentation by PWC

  1. 1. www.pwc.com/ie/consulting <br />Reaching the potential of your business by realising the potential of your talent<br />An overview of Effective Talent Management <br />
  2. 2. Before we start.......<br />What is talent? <br />What does it mean for our businesses?<br />Why is it particularly relevant now? <br />
  3. 3. Your talent-related business challenges<br />Some of the reasons for employee disengagement<br />Talent Management is at the top of the CEO Agenda <br />PwC’s 14th Annual Global CEO Survey<br />Nearly half of the hundreds of HR execs surveyed in recent months say they expect an increase in voluntary employee turnover.<br />PwC Saratoga<br />Only 45% of employees polled said they were satisfied with their jobs — the lowest level in two decades.<br />The Conference Board<br />Employee engagement levels among top performers fell more sharply last year than they did for workers overall <br />WorldatWork<br />
  4. 4. Agenda<br />Global CEO survey results<br />Effective talent management<br />Putting the pieces together<br />
  5. 5. Global CEO views on Talent14th Annual Global CEO Survey<br />
  6. 6. 14th Annual Global CEO Survey<br />Finding, Keeping & Motivating Talent<br />CEOs are telling us…<br />Managing talent is back on top of the CEO Agenda <br />83% of global CEOs anticipating change to how they manage people, in response to changes in the global business environment<br />Finding……. <br />Plans to expand the talent pool his year (>50%) , but<br /> A limited supply of candidates with the right skills (2/3rds)<br />Keeping and motivating…….<br /> Challenge to integrate young employees<br /> New talent management models eg expose top talent to new and diverse experiences <br />The use of more non-financial rewards to motivate staff<br />
  7. 7. Talent- the top priority <br />14th Annual Global CEO Survey<br />“As we move out of the downturn, CEOs are putting the focus firmly on their people. Competition for talent is intensifying as recruitment activity picks up in some sectors and there are increasing difficulties finding staff with the right skills. CEOs often speak of the importance of talent, but there’s not enough evidence of action being taken. The survey findings are encouraging, suggesting talent will be reflected more in company strategy. HR professionals need to help CEOs see what can and should be done” <br />(Michael Rendell, Global Human Resource Services practice leader at PwC)<br />
  8. 8. Effective talent management<br />
  9. 9. What you can do about it? – Talent management<br />Optimising your workforce means…<br /><ul><li>Aligning your talent priorities to your business objectives
  10. 10. Getting an accurate perspective of the competencies of your current workforce
  11. 11. Tailoring your talent solutions to the values and expectations of those in pivotal roles
  12. 12. Understanding the return you get from your investment</li></li></ul><li>Effective talent management<br />Effective Talent Management 3 Step Process<br />1. Alignment<br />2. Engagement <br />3. Measurement<br />
  13. 13. Effective talent management<br />Letting go of some dangerous talent myths<br />
  14. 14. Effective talent management<br />1. Alignment― matching your talent strategy to the strategy of your business<br />Strategy <br />Rewards/ Recognition <br />
  15. 15. Effective talent management<br />2. Engagement ― the transformative role of pivotal talent<br />Refocusing your HR efforts on pivotal talent can provide a major competitive advantage.<br />Pivotal talent is made up of those game-changing employees whose performance can make or break your bottom line. They are the employees best positioned to add the greatest value and determine the future success of your company.<br />By asking a single question you can recast the talent issue from administrative to strategic…<br />How should scarce resources be used to enable our pivotal talent to achieve the strategic outcomes we seek?<br />
  16. 16. Effective talent management<br />2. Engagement ― what drives it?<br />Employees want…<br />
  17. 17. Effective talent management<br />3. Measurement ― focusing on the facts by measuring your talent effectively<br />According to PwC Saratoga, employee costs in the US, on average, have fallen to 28% of revenues, while revenue per employee has increased by 8%. <br />Where do you stand?<br />Quantifying impact on objectives vs. labourcosts<br />The average cost of turnover for an employee is 1.5 times their annual salary, when you factor in recruiting, onboarding and lost productivity costs. How do you compare?<br />Tracking key talent indicators<br />
  18. 18. Effective talent management<br />3. Measurement ― focusing on the facts by measuring your talent effectively<br />The best companies leverage qualitative data to improve ineffective practices. <br />Do you?<br />Improving employee engagement surveys<br />Today's companies spend about €1,200 on average per employee on HR expenses. <br />How are you measuring HR ROI?<br />Measuring HR effectiveness<br />
  19. 19. Effective talent management<br />3. Measurement ― the link between survey data and HR metrics<br />
  20. 20. Putting the pieces together<br />
  21. 21. Managing talent to deliver the business strategy<br />Talent strategy<br />Potential talent<br />Business plan<br />Pivotal roles<br />High performers<br />Key skill <br />needs<br />195<br />
  22. 22. Managing talent to deliver the business strategy<br />Talent strategy<br />Attract<br /><ul><li>Talent sourcing strategy</li></ul>Develop<br />Potential talent<br />Business plan<br />Pivotal roles<br />Key skill <br />needs<br />High performers<br />Retain<br />Deploy<br />205<br />
  23. 23. Managing talent to deliver the business strategy<br />Talent strategy<br />Attract<br />Develop<br />Potential talent<br />Business plan<br />Pivotal roles<br />Key skill <br />needs<br />High performers<br />Deploy<br /><ul><li>Strategic deployment
  24. 24. International mobility
  25. 25. Succession planning</li></ul>Retain<br />215<br />
  26. 26. Managing talent to deliver the business strategy<br />Talent strategy<br />Attract<br />Develop<br />Potential talent<br />Business plan<br />Pivotal roles<br />Key skill <br />needs<br />High performers<br />Retain<br /><ul><li>Engagement and loyalty
  27. 27. Reward and incentives
  28. 28. Recognition</li></ul>Deploy<br />225<br />
  29. 29. Managing talent to deliver the business strategy<br />Talent strategy<br />Develop<br /><ul><li>Coaching and mentoring
  30. 30. Job related learning</li></ul>Attract<br />Potential talent<br />Business plan<br />Pivotal roles<br />Key skill <br />needs<br />High performers<br />Retain<br />Deploy<br />235<br />
  31. 31. Managing talent to deliver the business strategy<br />Five steps<br />Are the Talent strategy and business plan aligned?<br />Target the pivotal roles in your organisation <br />Identify and classify the talent you have and the talent you need.<br />Manage your talent - the employee lifecycle<br />Robust measurement, benchmarking and analytics<br />Talent strategy<br />Attract<br /><ul><li>Employer brand
  32. 32. Employee value proposition
  33. 33. Talent sourcing strategy</li></ul>Develop<br /><ul><li>Coaching and mentoring
  34. 34. Job related learning</li></ul>Potential talent<br />Business plan<br />Pivotal roles<br />High performers<br />Key skill <br />needs<br />Deploy<br /><ul><li>Strategic deployment
  35. 35. International mobility
  36. 36. Cycles of experience
  37. 37. Succession planning</li></ul>Retain<br /><ul><li>Engagement and loyalty
  38. 38. Reward and incentives
  39. 39. Recognition</li></ul>245<br />
  40. 40. Talent Management is top of the agenda for Global CEOs<br />We need to secure ‘talent’ that is aligned to our strategy, engaged and will deliver tangible business outcomes. <br />Identify your ‘talent’ today ................and make sure you don’t loose them. <br />
  41. 41. Questions or Observations<br />© 2011 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” refers to the Irish firm, PricewaterhouseCoopers, One Spencer Dock, North Wall Quay, Dublin1 which is authorised by the Institute of Chartered Accountants in Ireland to carry on investment business. As the context requires, "PricewaterhouseCoopers" may also refer to one or more member firms of the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate legal entity. PricewaterhouseCoopers does not act as agent of PwCIL or any other member firm nor can it control the exercise of another member firm's professional judgment or bind another member firm or PwCIL in any way. Designed by PwC Design Studio 02869<br />

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