Talent Management - 2008 Arunesh Chand Mankotia


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Talent Management - 2008 Arunesh Chand Mankotia

  1. 1. Managing Talent for Global Competitiveness
  2. 2. “ Once you lose talented individuals, you lose intellectual capital. So the whole issue of talent management and talent acquisition is right up there on the CEOs list ” Brian Sullivan, chairman and CEO, Christian & Timbers
  3. 3. “Our true ‘core competency’ today is not manufacturing or services, but the global recruiting and nurturing of the world’s best people ” Jack Welch
  4. 4. Why these companies always feature inFortune’s Global Most Admired Companies 1. IBM 2. MICROSOFT 3. GE 4.INTEL 5. WALMART 6. DELL 1. Quality of Management 3. The ability to Attract, Develop & Retain talent
  5. 5. ISN’T IT INTERESTING Bill Gates has been known to spend 50% of his time getting on a plane to interview and recruit talent Jack Welch said he devoted more than 50% of his time building the best management teams through the GE empire After all what makes Microsoft, GE, Apple, IBM, Intel…..tick TALENT
  6. 6. SO WHAT IS TALENT It is not about filling a Job just skill neither about Perfection nor about Experience or To do with Gender, Nationality or Race
  7. 7. TALENT IS SOMEONE • who you instantly feel good about being around • who likes to win • who gets to the point • who has a vision and gets other people into their vision • who attracts other talent and is capable of reinventing the wheel • who a strategic thinker and a Good listener • who will surprise you • who might even replace you. • who is Your own value in the Marketplace.
  8. 8. PRINCIPLE OF TALENT MANAGEMENT • The company with the best people thrives • There is always a talent shortage • The VCs bet their money on talent • Lose your talent- Lose your Edge • The main talent for Hiring Talent – Persistence • Talent is always the Solution
  9. 9. TALENT MANAGEMENT there is no magic formula to manage talent, the trick is to locate it and encourage it
  10. 10. TALENT MANAGEMENT Talent Management includes • Recruitment and selection: • Performance management and coaching • Employee development and training • Compensation, rewards and benefits • Succession planning and leadership development • Compliance, policy and procedures
  12. 12. “ Talent Management is about making sure that you have the right people in the right places for both themselves and the organization and needing to make sure that you as chief executive are taking responsibility for the development of your leadership talent. It’s one of the best legacies that you can leave any organization ”
  13. 13. FACT FINDINGIn a recent survey with Economic Intelligence Unit (EIU), 20 CEOs saidTalent Management was their responsibility, taking as much as 50% oftheir working timeA study showed that companies with stronger leadership developmentsystems enjoyed higher Return on Equity and ProfitA Mckinsey study showed direct link between quality of successionmanagement Programs and shareholder return A whopping 96% of the Chairmen in a recent study in the US ranked Talent Management as highly important for success of the business
  14. 14. TALENT MANAGEMENT : CHALLENGES It was Finance and then Marketing that was next to CEO’s role. Its HR now From 1998-2008, while workforce was expected to grow 12%, the number of 25-44 years old (the would be tomorrow leaders) is actually going to decline by 6% across the world even in Asia too New economy companies have given rise to entrepreneur role to many who, ten years before would have ascended on more structured career ladders, acquiring leadership skills along the way. High growth has made many organizations to look for ‘job-ready leaders’ of various types
  15. 15. TALENT MANAGEMENT : CHALLENGES The Business environment is more complex and dynamic today (White Water Rafting) The Company Board and Financial Markets are expecting more Human Capital is increasing become source of value creation for organisations Employee expectations are also changing as he is becoming more autonomous and empowered There is clear link between better talent and better business performance Employees have more authority in the market
  17. 17. TALENT MANAGEMENT: WHAT SHOULD THE CEO DO Connecting People to The Business Identify your Top Talent – ‘Take our 20 best people away from us and I can tell you that Microsoft would be an unimportant company’- Bill Gates Work Diligently with your ‘No-Go-Getter’ Employees, put them in new environment, department or job Engagement Strategies – Knowing that the tenure is going to be short; get the most You are Important- Individuals joining an organization needs to feel they are valued and that their contribution will make a difference
  18. 18. THE TALENT MANAGEMENT - LEARNING Create a ‘Learning Organization’ • Facilitate On-The-Job self motivated learning activities • As 90% of learning happens on the job, have employees share best practices across functions • Upgrade competencies through well planned job rotation / global opportunities • Structure a compensation, reward and recognition as applicable in respective countries • Engage people on cross-cultural sensitivitiesGE invests USD 1 Billion annually on Employee Training and Development
  19. 19. EXAMPLE Leaders in IBM can manage small, discrete teams or very large organisations of several thousand people. Leaders can manage large call centres, small software teams or even an R&D department. But whatever their role, all leaders have a common responsibility – that is the responsibility to identify and nurture talent. At carmaker Volkswagen AG, workers are encouraged to submit ideas for eliminating age barriers. Seasoned managers are asked to train newer managers on ways to meet older workers’ needs. Energy company Shell Oil Company holds managers accountable for developing diverse pipelines of future talent, tying compensation to hiring, development, and promotion
  20. 20. “ we select people for roles based on their strengths. We identify and leverage strengths rather than improve weaknesses since the latter is intrinsic and difficult to change ” Harsh Mariwala, MaricoInfact you can create roles around people as well
  21. 21. THE TALENT MANAGEMENT – HOW TO GO ABOUT Talent Management needs a Holistic Approach Every Line Manager needs to act as HR manager and every HR manager function as business manager Many Organizations often set up Talent Management Processes, but real success comes when you engage with the hearts and minds of individuals It motivates the workforce Enhances productivity Fosters team spirit Members feel inclusive They have reasons to stay
  22. 22. WHAT SHOULD THE CEO DO Identification- Selection- Development & Retention of Top Talent Identification & Development of High Quality Replacements for a small number of positions designated as key to current and future organization success The Classification of and Investment in each employee based on his/ her potential for adding value to the organization globally. Inspire – Make people believe in themselves; assign them internal projects; sending to B-School for one-month training won’t suffice
  23. 23. Best Fit – Don’t just look for the Right fit; look for the fit which isbest for the team given the diverse composition of the teams todayEvaluate – Constantly evaluate if the Team Leads or those inLeadership roles are equipped to handle team; work with HR.This is important especially for Middle Management levelPlan/Spot in advance – The Talent Management processshould be ongoing
  24. 24. “ This mentoring is what I do as an important part of my job. I’ve created other CEO’s. I want to help people reach their potential, and if someone’s not reaching it, I want that person to know what’s preventing him from reaching it ” Shiv Nadar HCL
  25. 25. BUILDING TALENT POOL Process Objective CEOs Role Measuring how effective is Defining clear cut performance Evaluating Current Perfrmance the person in his/her job expection Look beyond the persons immediate supervisors feedback; look for inputs from different Finding who has the disvions,skip interviews, Q&A Identifying Potential highest growth promise forums Those who meet the criteria put them in a new You take complete responsibility Create a Pool pool for the C-Suite Pool
  26. 26. Create a new product and it can be easily copied.Lower your prices and competitors will followGo after a lucrative market and someone will be thereright after you, being careful to avoid making yourinitial mistakes.BUTreplicating a high-quality, highly engaged workforce isnearly impossiblethe ability to effectively hire, retain, deploy, andengage talent—at all levels—is really the only truecompetitive advantage an organization can have