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Talent strategy

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    Talent strategy Talent strategy Presentation Transcript

    • Talent Strategies Alice Kwan Michael Kauer
      • Upon completion of this course, you should be able to:
        • Understand the global workforce trends and why having a talent strategy is important
        • Understand Deloitte's direction and how we are planning to go to market with this service offering
        • Understand Deloitte's point of view on Talent Strategies
        • Understand our OPP approach to developing a talent strategy
        • Apply the tools to develop a talent strategy
        • Identify Talent Strategies opportunities at clients
        • Know where to go to get additional information
      Learning Objectives for Today
    • Table of Contents
        • Introduction
        • Why this is Important
        • Deloitte’s Direction – What the Firm is Doing about It
        • Human Capital’s Approach
        • Deloitte’s Talent Management POV
          • Framework
          • Approach
        • Intro to the Exercise
        • Contacts
    • Talent Strategies Introduction
    • Question How many of you have participated in the design or implementation of a Talent Management initiative?
    • Question What is Talent Management? What is a Talent Strategy? What is Talent Strategies?
    • Definitions Talent Management is the integrated set of processes, programs, and technologies designed to Develop, Deploy, and Connect critical workforce segments and critical skill sets to drive business priorities. A Talent Strategy is the output of the work we do in Talent Management. Talent Strategies is one of OPP’s service offerings that will enable clients to have the talent required to deliver the business strategy.
    • Question What are Critical Workforce Segments?
    • Definition
        • Critical workforce segments are the internal groups that drive the organization's success (typically defined as top or bottom line impact)
          • That is, groups that are driving a disproportionate share of key business outcomes
        • The critical talent of an organization generally represents a distinct minority of the total payroll
    • Talent Strategies Why This is Important
    • Drivers of the need for Talent Strategies
        • Quality leadership is a major determinant of long-term success
          • Aging executive population coupled with rapid consolidation that often eliminates traditional preparatory positions
        • Workforce composition is changing
          • An aging and increasingly diverse workforce puts more pressure on organizations to recruit young talent and find new ways to source diverse employee populations
        • Employee loyalty and tenure is decreasing
          • Management turnover is expected to exceed 20%
          • In “traditional” firms, over 40% of managers are eligible to retire soon
        • Business challenges and the skills required are changing
          • More than 80% of US firms say they face a shortage of qualified machinists, craft workers, and technicians.
          • NASA projects that 2 million Science and Engineering (S&E) workers will retire between 1998 and 2008 – only 5% of the college students earns an S&E degree
        • A small percentage of the workforce make a disproportionate contribution to the bottom line
    • Talent Strategies Deloitte’s Direction
    • The Firm and OPP are Working Closely to Deliver the Talent Strategies Hot Topic Talent Management PRD Team Client Validation Talent Strategies POV and Service Offering Internal Rollout O&PP Adoption External Rollout Industry POVs Global Support Materials Pieces of the Talent Strategies Rollout Plan Practitioner Training
        • Five-part series by Deloitte Research offers fresh thinking on talent management
        • Two big catalysts:
          • Looming demographic shifts
          • Need to achieve higher returns on labor / knowledge work (typically firms’ largest investment)
        • Key objectives
          • Present differentiated perspective
          • Heighten CxO awareness of demographic trends and implications
          • Challenge conventional thinking / typical response to tight labor markets
          • Present differentiated perspective
          • Generate interest in (an evolving) comprehensive client service offering
        • Target Audience
          • External: CEO, CFO + Sr. HR Executive + other C-Suite
          • Internal: H Cap, S&O, cross-industry, HR, cross-regions
            • US: Jeff Summer, Bill Chafetz, Jeff Schwartz
            • EMEA: Brett Walsh, Jörg Schiele
            • A Pac: Dick Kleinert
            • Global: Ainar Aijala, Jim Wall
          • Global markets: Germany, Japan, Italy, Spain, UK, US, Canada, Switzerland, Austria, Netherlands, Australia, S Africa, China
      It’s 2008: Do you Know Where your Talent Is? Overview
        • Why Acquisition and Retention Strategies Don’t Work (1Q ‘05)
          • Why do current demographic trends require a fundamentally different approach to talent management? 
          • This piece serves as a foundation for rest of the series
        • Deploying Talent Across the Global Enterprise (2-3Q ‘05)
          • Organizations increasingly need an enterprise-wide perspective of their talent needs and capabilities (current and projected)
          • How do you build enterprise-wide talent models to achieve market flexibility? What is the role of offshoring?
        • Developing the Future Workforce (2-3Q ‘05)
          • Current demographic shifts, coupled with the speed and complexity of business, suggest that organizations must ramp up their development capabilities.
          • How do orgs create this capacity?  How does effective development occur?
        • Connecting the Global Workforce (3-4Q ‘05)
          • Knowledge workers are fast becoming intertwined in complex networks of global organizations, alliances, partnerships, where virtual relationships far outnumber face-to-face.
          • What must leaders know about the nature of these networks and their interdependencies? What tools and approaches can they apply to understand and bolster the networks through which work gets done?
        • Building Global Leadership Across the Talent Enterprise (3-4Q ‘05)
          • What leadership capabilities are required to make all this happen?
      It’s 2008: Do you Know Where your Talent Is? The Series – Five Briefings
    • It’s 2008: Do you Know Where your Talent Is? Key Messages
        • Talent markets will become tighter
        • Traditional response is to focus on “acquisition and retention”
        • This is an inappropriate response
          • Costly
          • Focus is on metrics or outcomes
          • Command and control mentality
          • Doesn’t target drivers of employee commitment / engagement
        • Instead, need to build strategies around things that matter to critical segments:
          • Development or growth
          • Deployment on jobs and projects that engage them
          • Connection to others (networks and quality of interactions)
    • It’s 2008: Do you Know Where your Talent Is? Rollout
        • Officially launch to the media in January 2005
          • We will be providing a range of supporting materials such as sample press releases, sample client letters, PowerPoint presentations, and media FAQs
          • These materials will be posted on Marketplace and Deloitte Resources as they become available
        • The Talent 2008 paper is now available on:
          • Marketplace (https://marketplace.deloitte.com)
          • Deloitte Resources (https://www.deloitteresources.com/pgContent.aspx?cid=44339&sid=2935)
    • Talent Strategies Human Capital Approach
        • Human Capital recognizes the strategic business implications of the workforce trends and has made Talent Strategies one of three Hot Service for O&PP
        • Resources and investment is being committed to develop compelling thoughtware, tools, and training
        • Human Capital has decided to focus Talent Strategies in six industries
        • Partnering with S&O and other service areas to develop industry segment specific POVs
        • Partners/Directors owning creation of POVs
        • Working with industry leaders to get buy-in and push out to GSR/SR teams
      Human Capital Approach to the Opportunity
    • Industry Specific Points of Views
        • National O&PP will focus on creating industry-specific POVs in industry segments where we have significant client relationships:
          • HealthCare Life Science
            • Life Sciences (Alice Kwan / Shoma Chatterjee)
          • Energy
            • Oil & Gas (Jim Sowers / Sarah Woody)
          • Public Sector
            • Federal (Tim Garmager / Kirk White)
          • Manufacturing
            • Process Manufacturing (Tim Short)
          • Financial Services
            • Insurance (Mike Evangelides / Andy Leokopoulos)
          • Consumer Business
            • Consumer Products (Bill Chafetz / Alan Schnur)
    • Talent Strategies Deloitte’s POV
    • Our Point-of-View The Talent Game is Changing
        • Supply-demand: The retirement of Baby Boomers and a looming skill gap will create a supply-demand situation unlike any in history
        • Rise of global talent markets
          • The 20th century saw the rise of customer and financial markets; talent will be the scarce resource as we enter the 21st century
          • Firms will have to source talent needs across global market as local pools of critical talent (e.g., scientists, engineers, and nurses) dwindle
        • Nature of work: As knowledge work prevails, firms will have to find new ways of achieving higher returns on their largest investment
        • Shifting expectations: Recent statistics suggest that fully half of the workforce is disengaged
    • Our Point-of-View Traditional Talent Management Process
        • Traditional approaches:
          • Do not allow individuals or organizations the flexibility they need to grow
          • Are costly (firms spend 50 times more on recruiting than training)
          • Focus on metrics and outcomes, rather than what really matters to talent
          • Do not get to the heart of where value is created
          • Often are divorced from broader business aims, such as strategic goals and firm branding
      Acquire Deploy Develop The Traditional Talent Management Process Retain
    • Our Point-of-View Traditional Approaches will not Suffice
        • In the 1990s, companies waged the war for talent by offering rich compensation packages and “hot skills” bonuses
          • Such tactics are easily matched by competitors
          • Monetary rewards do not sustain interest
          • “ A players” and stars are often first to leave
          • Attention and resource is on recruiting, not engaging employees
    • Our Point-of-View We need a Shift in Mindset
        • Need to build strategies around things that matter to critical talent:
          • Their development or growth (recognizing that training is a small part)
          • Their deployment onto jobs or projects that engage them (creating the roles and conditions that tap their greatest potential)
          • Their connection to key others (focusing on the networks and quality of interactions that they need to succeed)
        • By focusing on the development, deployment, and connection, the attraction and retention of critical talent largely take care of themselves
    • Develop-Deploy-Connect Cycle Develop Connect Deploy Performance Capability Alignment Commitment Connect focuses on how individuals interact and perform together. Develop means helping employees build the capabilities they need to achieve personal and business goals. Deploy means providing employees with the experiences they need to perform to the full extent of their abilities. Enabled by Human Capital Programs
    • What Employees Expect from Companies Source: HR Executive Review: Implementing the New Employment Compact (New York: Conference Board, 1997)
    • Improving Talent Strategies
        • Rather than focus on acquiring and retaining talent, talent savvy organizations support their key people on the issues they care about most:
          • Doing work that engages them
          • Learning how to do it even better
          • Encountering fresh challenges
          • Interacting with people in positive ways
        • The Talent Strategies service offering to helps organizations identify, develop, deploy, and connect their critical talent
    • Talent Strategies Framework
    • Framework Our framework focuses on people implications as a critical element of the business strategy Business Priorities Critical Workforce Segments Critical Workforce Trends Identify/Rationalize/Validate Integrated Talent Management Strategy
      • Recalibrate Human Capital Programs
          • Performance Management
          • Rewards & Recognition
          • Workforce Movement
          • Knowledge Retention
          • Organizational Learning
      Develop Deploy Connect Alignment Commitment Capability Manage Performance Enabled by Human Capital Programs
    • Mapping Human Capital Programs to DDC Develop, Deploy, and Connect: Linkages to Human Capital Programs Deploy Conct Devlp Devlp Devlp Human Capital Programs
    • Talent Strategies Approach
    • Step 1: Identify Business Priorities, Identify Critical Workforce Trends and Segments
        • Understand the organization’s business priorities in order to identify the people implications that will directly impact business objectives
        • Identify those segments of the workforce that disproportionately contribute to the success of an organization
        • Identify industry specific workforce trends that have a significant impact on critical workforce segments
    • Step 2: Executive Diagnostic Tool Each dimension covered in the diagnostic includes a formal definition to “anchor” and guide the questions One simple tool to begin a conversation about Talent Management, based on the work of Deloitte Research Identifies sample materials to request related to each section of the diagnostic
      • Diagnostic questions probe key com-ponents of effective talent management
        • Stretch assignments and job rotations
        • Mentoring/Coaching
        • Networks
        • Training
      Embedded in the questions are queries as to effectiveness of Talent Management dimensions and their contribution to the organization’s growth and innovation
      • Diagnostic Anchors
          • Obtain qualitative data and analyze in a quantitative manner
          • Consistent rating scale across dimensions
          • Consistent areas of focus
          • Diagnostic will inform the development of the prioritization roadmap
      A consistent 3 point rating scale allows for the evaluation of each area within a given dimension and informs the SWOT analysis Rating Scale
    • Steps 3 – 5: Informing the Roadmap
      • Step 3: The Diagnostic Summary categorizes the results into 4 buckets based on industry trends:
        • Strengths
        • Weaknesses
        • Opportunities
        • Threats
      Step 4: The Human Capital Program Diagnostic Tool is used to analyze current HC programs with focus on Critical Workforce Segments Step 5: The Talent Management Prioritization Roadmap provides a detailed outline of actions and business case for the organization to enhance and integrate HC programs over a defined time period Integrated Talent Management Strategy Capability Alignment Commitment We then translate the results into three key out-comes of develop, deploy, and connect that directly impact business execution
    • Diagnostic Dashboard – Summary Strengths
        • Knowledge management practices are tightly linked with the transition of colleagues
        • Workforce policies have been documented and communicated across business units
        • Lack of a formal, consistent transition process
        • Performance management is not evaluated on a regular basis and does not focus on the development of the next generation of leaders
      Weaknesses Threats Opportunities
        • Leadership development is not integrated with performance management and rewards and recognition, significant source of turnover
        • Within Workforce Movements, flexible work arrangements are managed on a exception basis without any consistency
        • Integration across recruitment functions has the opportunity to yield higher candidate acceptance rates—leveraging scale
        • Communication efforts can better link rewards and recognition to the performance management process, they are consistent just not formally recognized as integrated
    • Diagnostic Dashboard – Summary Organizational Learning Knowledge Retention Workforce Movement Rewards & Recognition Performance Management Infrastructure Results and Measures Overall Cross Linkages and Integration Program Details Program Objectives
      • There are numerous ways in which the data can be summarized in the Diagnostic Dashboard, such as to provide a view by:
          • Critical Workforce Segment
          • Business Unit
          • Region
    • Prioritization Roadmap – Sample Prioritization Timing 1-3 months 3 to 6 months 6 to 12 months 12 to 24 months Develop consistent workforce transition process Develop linkages to performance management processes Extract information for succession planning purposes
        • Activity 1
        • Activity 2
        • Activity 3
      Implementation of new, integrated performance management system Develop succession management metrics
        • Activity 1
        • Activity 2
        • Activity 3
        • Activity 1
        • Activity 2
        • Activity 3
        • Activity 1
        • Activity 2
        • Activity 3
      Implementation of succession management system Higher Lower
        • Activity 1
        • Activity 2
        • Activity 3
        • Activity 1
        • Activity 2
        • Activity 3
    • Talent Strategies Exercise
    • Talent Strategies for OPP
      • What to do…
        • Review the Chafetz executive diagnostic interview summary
        • Considering the business issues and critical workforce segments identified by OPP leadership, how can we implement the Develop-Deploy-Connect components of a talent management strategy in our practice?
        • Work with your group to assess the effectiveness of our human capital programs and to identify opportunities for improvement. Be prepared to present to the group your observations, assessment and recommendations / action plan in an organized fashion (e.g. SWOT Analysis, etc.)
      • When to do it…
        • Work on the issue: 45 minutes
        • Report out: 45 minutes
    • Talent Strategies Contacts
    • OPP U.S. Contacts
        • Alice Kwan : [email_address] +1 (212) 618 4504
        • Tina Witney :
      • [email_address]
      • +1 (212) 618 4677
        • Ken Kunkleman :
      • [email_address]
      • +1 (614) 228 4270
        • Michael Boedewig : [email_address] +1 (215) 246 2587
      Other O&PP practitioners with significant Talent Strategies involvement: Adrienne Bigley, Jennifer Hand, Pete Harteveld, Michael Kauer, Audrey Mes, Simon Porter, Anne Vlach
        • Bill Chafetz :
      • [email_address]
      • +1 (312) 946 3130
    • Member of Deloitte Touche Tohmatsu