Talent strategy for superstars

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Talent strategy for retaining super talent in the organisation is explained with the help of examples. This can be found in an article in People Matters dated August

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Talent strategy for superstars

  1. 1. Talent Strategy for Superstars BY D .G EETHAN JAL I 1 2 MD 0 2 2 TALEN T MAN AG EMENT B A TCH I I
  2. 2. • Introduction CONTENTS • Portability of Superstars • Are Superstars Staying? • What about the other stars? • 90-10 Talent Management • Benefits of 90-10 approach • Conclusion People Matters July 2012 volume
  3. 3. Introduction • Tie talent strategy to business imperatives and find the best people to execute flawlessly. • Invest in the best- grow and engage them, so they perform great and stay. • Meantime- motivate and train other “A” layers in the company, if not attract the best people from best schools and organisations. People Matters July 2012 volume
  4. 4. Portability of Superstars • Boris Groysberg conducted a study- “Is focus is on the best people ?” • Careers of 1000 star analysts at Wall Street, after they have been moved to other firms. • Majority suffered decline in their performance. • Earlier excellence is depended on firm’s proprietary resources, organisational cultures, networks and their colleagues. People Matters July 2012 volume
  5. 5. Are Superstars Staying • Indian Students(star) from best B-Schools are hired by a consultancy company 18 months ago. • Company invested money and attention for their growth, in return sterling performance. • End of the year they received an 18 month bonus and 75 % were promoted. People Matters July 2012 volume
  6. 6. Cont... • Less than 2 years from when they were hired, only 25 % of the cohort are still working for the company. • The ones who left were also the most valued and rewarded. People Matters July 2012 volume
  7. 7. What about the rest • Choosing high-potential talent pools. • Talent pools work out well when the assessment is accurate. • The star talents will continue to perform when they move to another organisation. • They make meaningful contribution if they are properly awarded People Matters July 2012 volume
  8. 8. 90-10 Talent Management • Organisation should re-channel their efforts to source the talent that is plentiful, inexhaustible and cost effective. • Figure out how they can get 90% of their people to perform like the top 10%. • Move from the conventional wisdom that only few people have talent that determine organisational success- to a new approach that everybody has talent. People Matters July 2012 volume
  9. 9. Cont... • Organisation that adopted this approach gave people to feel at their greatest when three things happen, • They love what they are doing (passion) • They are great at doing what they love (talent) • They are in jobs that allow them to do what they love and are great at (application of talents) People Matters July 2012 volume
  10. 10. Benefits of 90-10 approach People Matters July 2012 volume
  11. 11. Conclusion • Harnessing passion and talent of the people in the organisation helps in productive application. When this happens employees are in the “talent zone”, result of which their positive energy will ripple across the organisation and creates sustainable business results. People Matters July 2012 volume

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