2012 TCHRA Presentation

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A structured process results in high quality management decisions about leadership development, succession, and career planning. The business benefits from better leaders and greater employee motivation which means improved retention of key talent and a lower cost of turnover.

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2012 TCHRA Presentation

  1. 1. Strategic Talent Assessment Building Your Future Leaders Karen Phang President & Owner Bayon Advoco LLC TCHRA August 9, 2012CONFIDENTIAL
  2. 2. Agenda • Background • Definitions • Business Case • Talent Assessment Process • Leadership Development • Business Impact • QuestionsCONFIDENTIAL
  3. 3. Background • Karen Phang – St Olaf College – BA HR – University of Minnesota – MA HRIR – Manpower Temporary Services – 1992-1995 – Medtronic – 1995-2006 – St Jude Medical –2006-2008 – AGA Medical – 2008-2011 – Bayon Advoco LLC – 2011-presentCONFIDENTIAL
  4. 4. Discussion 15 minutes Team USA Team China • What is talent • What is leadership assessment? development? • How is it used at your • What does it look like company? at your company? • What works well? • What works well? What doesn’t? What doesn’t? • What are the • What are the benefits? Downside? benefits? Downside?CONFIDENTIAL
  5. 5. Talent Assessment? • A talent assessment is the outcome of a process where managers assess the individuals on his/her team using two 9-box grids. – Performance vs. Potential – Retention Risk vs. Position Criticality • Each manager will also conduct an Organizational Assessment of his/her area of responsibility by answering a few key questions.CONFIDENTIAL
  6. 6. Leadership Development? • Leadership Development focuses on the development of leadership as a process. This may include the interpersonal relationships, social influence process, and the team dynamics between the leader and his/her team, the contextual factors surrounding the team and the social network links between the team and other groups in the organization. Wikipedia 2012CONFIDENTIAL
  7. 7. Talent Assessment Objectives • Evaluate the current strengths & weaknesses of your organization • Put an organization plan in place that will allow accomplishment of strategic goals • Create a competitive advantage with organizational excellence • Develop a succession plan • Determine how best to spend focused development dollarsCONFIDENTIAL
  8. 8. Operationalize Talent Assessment Process Based on Leadership Competencies Annual Operating Plan• Strengths/weaknesses One Year• High potentials• Link organization short and long-term• A, B & C ratings• Future organization gaps• T & D needed to build capability Strategic Plan Five Years •Execute Education •Leadership Development •IDPsCONFIDENTIAL
  9. 9. Organizational Assessment Answer the following questions: 5-7 minutes • How is the organization structured today? Why? • Strengths of the organization include… • Weaknesses of the organization include… • Opportunities for the organization include… • Anticipated changes within the organization in the next year include…CONFIDENTIAL
  10. 10. Business Case • Gold Co. will continue to experience significant growth and expanded product offerings. • To bring these products to market in todays market, Gold must leverage the scalability and strength of experience in all functions in order to execute effectively in 2012 and beyond. To meet and exceed business goals, the organization must: – Identify high potential talent – Identify those employees who are not performing satisfactorily and seek to understand why – Provide career development opportunities/action plans – Understand who is/which positions are critical to the organization’s success and ensure retentionCONFIDENTIAL
  11. 11. Assumptions • Mid sized, high growth organization • Individual contributor and leadership competencies in place • Focal point performance management process occurs annually in Q1 • Talent assessment process is relatively new and not very mature • People managers have had some previous experience with the process • Organization supports transparencyCONFIDENTIAL
  12. 12. Performance and Potential Ratings Performance A – Superior performer B – Meets the performance standards C – Does not meet the performance standards Potential 1 – Promotable in less than 2 years 2 – Promotable at least one more level in the next 2 to 5 years 3 – Not promotableCONFIDENTIAL
  13. 13. Leadership Competencies • Deliver Results with Integrity – Meet commitments and produce the right results at the right time. – Believable or trustworthy; does what he/she says he/she is going to do. • Build High Performance Teams – Provide clear direction to keep the work group focused and moving forward on the right goals. • Attract, Develop and Retain High Potential Employees – Recruit, select, and develop the best people for the work group and the company as a whole.CONFIDENTIAL
  14. 14. Why assess Performance and Potential? • Create a common language around talent management • Ensure the organization achieves objectives and delivers expected results with integrity • Create a competitive advantage with organizational excellence • Evaluate the current strengths and weaknesses of your function/organization • Hold individuals and managers accountable for results and behaviors • Identify “A” players or top talent • Develop a succession plan • Retain top talent; use as a vehicle to facilitate dialog with employees regarding their careers and individual development plans • Ensure a process to deal with poor performersCONFIDENTIAL
  15. 15. Retention Risk and Position Criticality Ratings Retention Risk High Very likely to leave the organization in the near future. Has a low level of engagement. Medium Moderate risk of leaving the organization. Low Not likely to leave the organization. Has a high level of engagement. Position Criticality High Extremely critical. Turnover would greatly impact functional productivity and overall company performance. Medium Moderately critical. Low Less critical. Turnover in this role would not be disruptive to the function/organization.CONFIDENTIAL
  16. 16. Overview of Employee – ExampleMickey Mouse – Quality Engineering Manager (April 2011) – Education • Bachelor of Science in Biomedical Engineering, Minor in Communication Studies Michigan Technological University, Houghton, MI – Previous Employers • Tactx Medical, Product Development Engineer (4.5 yrs) • Philips Plastics, Project Engineer (3 yrs) – Current responsibilities • Quality Engineering Manager leading delivery systems and packaging production teams. – Performance • Strengths: Manufacturing and Product Development experience, communication, effective hiring manager, provides each employee with clear objectives • Areas of opportunity: Learn the organization, products, and clinical applications of products, become more confident in dealing with conflict and having difficult conversations. – 9-box performance/ potential rating = B1, – 9-box Retention Risk/Position Criticality rating (i.e. low/low, low/medium, etc.) = Medium/LowCONFIDENTIAL
  17. 17. Overview of Employee Using one of your direct reports or an employee in your organization you know well, complete the following: 10 minutes • Name – Title (start date with company) – Education – Previous employer – Current responsibilities – Performance • Strengths • Areas of opportunity – 9-box Performance/Potential rating (i.e. A1, B2, etc.) – 9-box Retention Risk/Position Criticality rating (i.e. low/low, low/medium, etc.)CONFIDENTIAL
  18. 18. What about the solid contributor? 5-7 minutes • Talent Assessment addresses the high potential and poor performer • The solid contributor makes up a majority of an organization and are key to executing on the plans, what do we do with them?CONFIDENTIAL
  19. 19. What should I be focused on? • Who are my high potential players-are they rewarded, recognized and developed? • Who are the future leaders? Internal/external? • Who are my poor performers-what is the plan for them?...different position, development or improvement plan? • Strengths/weaknesses of current organization? • What are my future organization requirements in 3-5 years? What are my plans…internal? Bench building? • How to I retain my best talent?CONFIDENTIAL
  20. 20. Talent Assessment Leadership Development • Key considerations: – Timing? When, how many sessions? Global? – Where? On site? Off site? – Content? – Format? Outside speakers? Case study? Small group? – Follow up? How do you keep the group engaged after formal training? – Training effectiveness?CONFIDENTIAL
  21. 21. Talent Assessment Leadership Development Possible topics: • Senior management expectations • Developing and Retaining • Business ethics Employees • Change management • Managing Performance • Interviewing process and practice • Organization Assessment • Team building with all “types” • Compensation and Rewards • Setting expectations • Delegation Process • Management communication • Prioritization • Talent assessment & gap analysis • In-Box Simulation • Manager as role model • Employee Development Action • Aligning Employees to the Mission Planning • Motivating Your Team • Presentation Skill-Building • Coaching for Success • Working Globally • Conflict ManagementCONFIDENTIAL
  22. 22. Business Impact • Do we have the right talent to reach our organizational goals? • Who are our top performers and potential successors? • How are we supporting their development? • How do we retain our best talent?CONFIDENTIAL
  23. 23. Summary • A structured process results in high quality management decisions about leadership development, succession, and career planning. The business benefits from better leaders and greater employee motivation which means improved retention of key talent and a lower cost of turnover.CONFIDENTIAL

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