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Creating a strong talent pipeline how ready are you23072014

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  • 1. 74th NHRDN Webinar: 23.07.2014 Creating a strong talent pipeline How ready are you?Creating a strong talent pipeline How ready are you?Creating a strong talent pipeline: How ready are you?Creating a strong talent pipeline: How ready are you? A KrishnaA Krishna Sr. Vice President - HR Bosch LimitedBosch Limited A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 1
  • 2. Creating a strong talent pipeline Presentation overview Introduction Presentation overview Four dimensions of talent management How ready are you? A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 2
  • 3. Creating a strong talent pipeline Presentation overview Introduction Presentation overview Four dimensions of talent management How ready are you? A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 3
  • 4. Creating a strong talent pipeline Talent Management – most critical HR topic!Talent Management most critical HR topic! As per BCG’sp report ‘Creating People Advantage 2013’,Advantage 2013 , talent management and leadership are the most criticalthe most critical topics for HR A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 4
  • 5. Creating a strong talent pipeline Talent Management has a low ROE!!??Talent Management has a low ROE!!?? A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 5 From BCG’s report ‘Creating People Advantage 2013’
  • 6. Creating a strong talent pipeline Other Global TrendsOther Global Trends A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 6 From Deloitte’s Report: “Global Human Capital Trends 2014 – Engaging the 21st Century workforce”
  • 7. Creating a strong Talent Pipeline Other Global Trends: Key Focus areas for HROther Global Trends: Key Focus areas for HR A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 7 From Deloitte’s Report: “Global Human Capital Trends 2014 – Engaging the 21st Century workforce”
  • 8. Creating a strong talent pipeline HR at “Crossroads”HR at Crossroads Securing the Leadership pipeline A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 8 From PWC’s report: “ Managing in uncertain times: HR at crossroads”
  • 9. Creating a strong talent pipeline SummarySummary Several international and national studiesSeveral international and national studies emphasise talent building as the most crucial task for organisationsg A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 9
  • 10. Creating a strong talent pipeline Presentation overview Introduction Presentation overview Four dimensions of talent management How ready are you? A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 10
  • 11. Creating a strong talent pipeline Why? • Quantity comes before quality!Quantity comes before quality! • Talent is needed in leadership, functional and expert roles! A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 11
  • 12. Creating a strong talent pipeline The Four dimensions of Talent ManagementThe Four dimensions of Talent Management Performance Creation of talent pipeline Competency Organisational framework pipeline Potential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 12
  • 13. Creating a strong talent pipeline The Four dimensions of Talent ManagementThe Four dimensions of Talent Management Performance Creation of talent pipeline Competency Organisational framework pipeline Potential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 13
  • 14. Creating a strong talent pipeline The First Dimension: PerformanceThe First Dimension: Performance H,H • Rewards focus primarily on ‘Stars’ • High differentiation could lead to widespread de-motivation Q1 H,L H,H ewards Q1Q2 HIGH widespread de motivation • Can erode talent pipeline build-up in the long run, unless engagement measures are strong H L Att ti b k t f N tQ2 L L L H onetaryRe Q1Q2 H,L • Attractive basket of Non-monetary rewards necessary • Median compensation levels would have to be kept above market levels, to avoid attrition; can make business Q2 L,L L,H NonMo Q3Q4 LOW HIGH LOW attrition; can make business uncompetitive • Non-monetary rewards to focus on development of individuals, to be effective fQ3 Monetary Rewards LOW HIGH L,H • Focus on monetary rewards is self- limiting in the long run – promotes mercenary culture? L L • Recipe for talent exodus! Q3 Q4 Organisations have to make conscious, well thought out choices regarding performance management and stick to them; not be swayed b i t d A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 14 L,L pQ4by passing trends
  • 15. Creating a strong talent pipeline The Four dimensions of Talent ManagementThe Four dimensions of Talent Management Performance Creation of talent pipeline Competency Organisational framework pipeline Potential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 15
  • 16. Creating a strong talent pipeline The Second Dimension: CompetencyThe Second Dimension: Competency Two aspects of competency frameworkframework l Functional Organisational- role / level Clarity needed on both aspects! A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. Clarity needed on both aspects! 16
  • 17. Creating a strong talent pipeline Competence framework: example from BoschCompetence framework: example from Bosch Hard skills ConfidentialConfidential Soft skills A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 17
  • 18. Creating a strong talent pipeline Bosch Leadership Competence frameworkBosch Leadership Competence framework Confidential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 18
  • 19. Creating a strong Talent Pipeline Bosch rating scale for competencies Degree Competence Field Technology Competence Field Business Administration Entrepreneurial Mindset, Leadership, Social Competence Bosch rating scale for competencies Competence Field Business Administration Social Competence 1 No knowledge, skills, and abilities / Not requested No Degree/Not Requested 2 Basic: A person with a low level of a competence has theoretical knowledge ith littl ti l i i l i it H h d t t Less Developed with little practical experience in applying it. He or she needs support to solve problems and reach goals. 3 Advanced: A person with an advanced level of a competence has a lot of experience in applying his/her knowledge. She/he is able to apply the biliti i d h i t t Well Developed Confidential abilities in new and changing contexts. 4 Specialist: A person with a high level of a competence is able to work independently, solve problems intuitively and find new solutions. She/he can coach and instruct others to come to a specific solution. The depth f h /hi k l d ll h /hi l l d k Very Well Developed of her/his knowledge allows her/him to solve complex and new tasks. 5 Champion: The depth and breadth of his competence is outstanding. He/she has a technical and methodological overview and sets technical/methodological standards for companies and industry. Excellently Developed 19 A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights.
  • 20. Creating a strong talent pipeline The Four dimensions of Talent ManagementThe Four dimensions of Talent Management Performance Creation of talent pipeline Competency Organisational framework pipeline Potential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 20
  • 21. Creating a strong Talent Pipeline The Third Dimension: PotentialThe Third Dimension: Potential Does the organisation have a clear written definition of potential? Is this definition of potential only “vertical” oriented or is it broad based ? A clear definition of ‘Potential’ is essential to get the right results! A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 21 A clear definition of Potential is essential to get the right results!
  • 22. Definition of “Potential” in Bosch Creating a strong talent pipeline Definition of Potential in Bosch Therefore, potential is:  a forecast on the strength of previous job performance (“projected reserves”) Confidentiala o ecast o t e st e gt o p e ous job pe o a ce ( p ojected ese es )  an anticipated predisposition (manifestation of “key and meta-competencies”)  always an aptitude relating to a particular set of demands, not a value in itself (e.g. potential for leadership of a particular group or for management of a particular project)  subject to change, just as demands are subject to change: potential e.g. through learning, experience, motivation A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. demands e.g. through new tasks, organization, environment 22
  • 23. Creating a strong talent pipeline The Four dimensions of Talent ManagementThe Four dimensions of Talent Management Performance Creation of talent pipeline Competency Organisational framework pipeline Potential A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 23
  • 24. Creating a strong talent pipeline Organisational frameworkOrganisational framework Clearly articulated overall framework for HR policies is essential Talent pipeline creation is a sub-set of such framework Key elements of talent development to be clearly spelt out Talent pipeline to be matched to needs arising from current and f t i ti t tfuture organisation structures A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 24
  • 25. Creating a strong talent pipeline HRM Guidelines at BoschHRM Guidelines at Bosch  Promotion of managers from within  Deployment of associates according to their abilities  Job-related training opportunities  Promotion of managers from within our own ranks  Continuity of employment (not necessarily in same position)g pp  Advancement of associates willing to take on greater responsibilities  Job opportunities worldwide in same position)  Pay for position and performance  Fair treatment of associates by Confidential  Job opportunities worldwide  Priority of corporate interests over divisional and local supervisors  Good working conditions  Good working relations to Works Councils A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. g and unions 25
  • 26. Creating a strong Talent Pipeline Influence of salary levels on performance standardsInfluence of salary levels on performance standards Confidential Assessment standards depend on salary level! A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. Assessment standards depend on salary level! 26
  • 27. Creating a strong Talent Pipeline Career paths in Bosch: 3 routes are available… Leadership Head of Department Executive Management p Manager, Group Leader … in line mgt. Project Leader (A projects) Projekt- leiter Project Leader (C projects) … in projects Project Leader (B projects) Confidential leiter Expert, Specialist with GB-wide impact with RB-wide impact within division Top mgtSenior mgtMiddle MgtJunior Mgt. A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 27 It is possible to switch between career paths
  • 28. Creating a strong talent pipeline Bosch Career elements for line and project management  Required Experience GM/SGM VP Cross Divisional move Sr. VP  Bosch Career elements for line and project management       Cross Divisional move (GB-GB, GB-C) Cross Function Move I t ti l E i    thereof 1 thereof 2     International Experience (> 2 years) Employee Leadership Experience  thereof thereof thereof Confidential  Project Leadership Experience*  Minimum Criteria met 2 3 4 thereof 1 thereof 1 thereof 1 Minimum Criteria met 2 3 4  Criterion must be met to reach respective Salary level (with promotion at the latest); experiences made in other companies will be considered. Cross Divisional Move, Cross Function Move and International Experience may be acquired before taking on a leadership position A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 28 position.
  • 29. Creating a strong talent pipeline Presentation overview Introduction Presentation overview Four dimensions of talent management How ready are you? A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 29
  • 30. Creating a strong talent pipeline How ready are you?How ready are you? Clear metrics necessary to keep organisation on track! Examples of metrics:  N b f f h iti Number of successors for each position  Readiness of talent pipeline  Attrition among high performers  Versatility of talent pipe-line Versatility of talent pipe line Periodical measurement and review A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 30
  • 31. Creating a strong talent pipeline Building leaders for future: KPIs@ Bosch Define Number :  Talent pipeline = % gap of > Middle management positions v/s potential Building leaders for future: KPIs@ Bosch successors identified (horizon : 24 months for Middle Mgt, 36 months for Senior Mgt) KPI _1a : % gap 2014 2015 2016Year Position_ g p Mid. Mgt. Senior Mgt. SL2 Xx % SL3 Yy % KPI_1b : Just identified / Development started (Readiness beyond 12 months) Development in progress g g a% b% Development in progress (Readiness < 12months) Development completed c% d% e% f% DS/NE-IN | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. (Ready to take up immediately) 31
  • 32. Creating a strong talent pipeline Th k f tt ti !Thank you for your attention! A Krishna | Sr. Vice President - HR | 23.07.2014 | © Bosch Limited 2014. All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights. 32

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