Your SlideShare is downloading. ×
0
Managing Talent in Today’s TimesDhananjay Bansod
Discussions for the day..• Talent Management – Conceptual Understanding• Strategic Approach to Talent Acquisition• Talent ...
I think our company is well-prepared for the future. We have great talent.If you take a look at it, were a hot place to wo...
Talent Management – Top Issues in the FieldEconomic market changes are driving talent requirements   Merger and Acquisiti...
The RealitiesThe Old Reality                           The New RealityPeople need companies                     Companies ...
What are the options?             Old Strategies                          New StrategiesGrow all your own talent          ...
Talent Management• The term "talent management" is usually associated with competency-based  management.• Talent managemen...
What is a vision? Attributes and types of visions                                             Attributes of a Good Vision ...
What is a vision? Example HR-visions     Global                  We want to maximize organizational effectiveness through ...
Develop the vision: Guidelines• Start the statement with an intention like e.g. “we want to become”, “we  envision to evol...
Vision versus mission statement   Vision and mission statements are two separate entities that answer two different questi...
How to win the Talent War                                             Embrace a                                           ...
“No matter how good or how successful you are, or how clever or craftyyou are, your business and its future are in the han...
Recent Survey…• Two 2008 global studies rank acquisition of top talent # 1 perceived value  service provided by HR        ...
Talent Acquisition                     15
Recruiting Challenges• Wide access to data• Expectations of hiring managers   – Quality, Time, Cost• Expertise of hiring m...
Planning & Execution• Workforce Planning• Service level agreement (SLA)• Brand Building initiatives / Value Proposition• R...
Project Management• Be proactive; call before questions come• Make follow up a priority project• Share good and bad news• ...
Measuring Talent Acquisition…Quality of Hire                           Percentage of new hires that were the organization’...
Some Talent Acquisition Strategies• Proactively build and expand the pool of candidates.• Seek to fill positions internall...
“Turned on” people figure out how to beat the competition,“Turned off” people only complain about being beaten by the comp...
Accepted Wisdom about Employees• Everyone can excel if they try hard enough• People will work harder if they get paid more...
The Real-World• Employees who use natural talents produce significantly more than average  workers• Emotionally committed ...
Emotional EngagementWhen the best performers are doingwhat they are best at                                     24
The Gallup Path                                                         Stock                              Higher Profit  ...
Some facts…Employee Engagement Outcomes• 38% higher customer satisfaction• 22% higher productivity• 27% higher profitsEnga...
The Q 121.   I know what’s expected2.   I have what I need3.   I do what I do best4.   I am recognized5.   Someone cares6....
How do you know who’s engaged?• Clear about purpose—seek ways to improve• Bring full selves to work• Highly skilled• High ...
Typical Employee Village                                          10%                                                15%  ...
StrategyNot Yet Engaged: 55%                    High Potentials: 15%• Average, Under-motivated              • Talent + Asp...
Tactics    Employees                 Managers                  Leaders    Know self (talents,                             ...
“It’s as much about the act ofconversations, as it is about theoutcome of those conversations”                            ...
Top Ten Global Engagement Drivers1.   Senior management’s sincere interest in employee well-being.2.   The opportunity an ...
“Turned on” people figure out how to beat the competition,“Turned off” people only complain about being beaten by the comp...
HR’s Role – a survey output…                     • A recruiting/staffing function                     • A control function...
HR Business Partner’s Capabilities and Competencies                                                                       ...
HR of tomorrow - The four roles of HR     HR must evaluate how it is performing today and how it wants to perform in the f...
Steward:staying ahead of the curve on ethics, compliance, risk and governance                                             ...
Operator:efficiently and effectively executing the core HR transactions                                                   ...
Catalyst:creating a work environment that helps people perform their best                                                 ...
Strategist:moving from supporting strategy implementation               Leading Edge                                      ...
Dhananjay Bansod on behalf of NHRDTHANK YOU                                     42
Upcoming SlideShare
Loading in...5
×

Managing talent in today's times

930

Published on

By Dhananjay Bansod

Published in: Business, Technology
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
930
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
134
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Transcript of "Managing talent in today's times"

  1. 1. Managing Talent in Today’s TimesDhananjay Bansod
  2. 2. Discussions for the day..• Talent Management – Conceptual Understanding• Strategic Approach to Talent Acquisition• Talent Management through Employee Engagement• Technology and Talent Management 2
  3. 3. I think our company is well-prepared for the future. We have great talent.If you take a look at it, were a hot place to work, which means weregetting more great talent. Steve Ballmer, CEO - MicrosoftTALENT MANAGEMENT 3
  4. 4. Talent Management – Top Issues in the FieldEconomic market changes are driving talent requirements  Merger and Acquisition  Market Expansion (established and emerging)  Enterprise Cost Reduction  Global Work Distribution  Product/Service Launch  Enhanced Talent Management  Growth StrategyTalent Management is eclipsing traditional HR  Protectionist; fragmented; skill set; management information  Fact-based  Infrastructure enabled (process; service delivery; technology; structure; roles and measurement)Innovative solutions are emerging to further differentiate leading organizations  Fact-based: Business priorities; plan; solution(s)  Solutions broader than talent management focused  A significant trend is the changing nature of work – What the work is Mobility – How the work gets done Flexibility/Customization – Where the work gets done Workplace Transformation – When the work gets done  Other emerging trends include: Global Sourcing; Accelerated Development 4
  5. 5. The RealitiesThe Old Reality The New RealityPeople need companies Companies need peopleMachine capital, and geography are the Talented people are the competitivecompetitive age advantageBetter talent makes some difference Better talent makes a huge differenceJobs are scarce Talented people are scarceEmployees are loyal and jobs are secure People are mobile and their commitment is short termPeople accept the standard package they People demand much moreare offered 5
  6. 6. What are the options? Old Strategies New StrategiesGrow all your own talent Bring in talents at all levelsRecruit only when there is a vacancy Hunt all the timeUse traditional sources Tap many diverse pools of talentAdvertise to job hunters Reach passive candidates in their comfortable workplaceStay within compensation range Break the compensation rules if neededRecruitment is a filtering process beHire as needed or instructed Recruitment is about marketing and screening Develop a sourcing strategy for the business 6
  7. 7. Talent Management• The term "talent management" is usually associated with competency-based management.• Talent management decisions are often driven by a set of organizational core competencies as well as position-specific competencies. – The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). – Older competency models might also contain attributes that rarely predict success – New techniques involve creating a Competency architecture for the organization that includes a Competency dictionary to hold the competencies in order to build job descriptions.• Employee evaluations concern two major areas of measurement: performance and potential. – Current employee performance within a specific job has always been a standard evaluation measurement tool of the profitability of an employee. – Talent management also seeks to focus on an employee’s potential, meaning an employee’s future performance, if given the proper development of skills and increased responsibility. 7
  8. 8. What is a vision? Attributes and types of visions Attributes of a Good Vision Statement • Conveys a crisp image of the future to your stakeholders (i.e. employees, partners, clients, board of directors, community, government representatives, etc.) • Clear and concise • So compelling that it motivates others to action • Results-oriented • A stretch while still being achievable • Makes sense throughout the organizationTypes of vision statements Target Visions Internal Transformation Visions Focus on achieving a specific Focus on desirable internal attributes and/or financial or non-financial target. requirements for change. Common Enemy Visions Role Model Visions Focus on attacking/winning Focus on modeling the organization after a specific best-in- against the competition. class organization in the same industry or a different one. 8
  9. 9. What is a vision? Example HR-visions Global We want to maximize organizational effectiveness through unique HR solutions that pharmaceutical continuously improve our people, process and structure. firm Global We seek to be leaders in the “people dimension of business”, helping our clients achieve professional exceptional performance by providing services and solutions that address the people and functional HR issues integral to business operations and performance. service firm US-based We want to partner with business leaders, fostering a safe, engaged workforce by energy building global leadership and organizational capability, cultivating a high performance culture and enabling employees to fulfill their potential company The HR Department will be an irreplaceable strategic partner and trusted advisor to our Municipality employees and departments, seeking opportunity for collaboration and consensus building while supporting each other when taking risks and pursuing innovation. 9
  10. 10. Develop the vision: Guidelines• Start the statement with an intention like e.g. “we want to become”, “we envision to evolve to”, “we believe that”.• Envision something even better than what you consider to be the best possible outcome.• Try to summarize your vision using a powerful phrase (e.g. Microsofts vision of "A personal computer in every home running Microsoft software”).• The purpose of the vision statement is to inspire, energize, motivate, and stimulate your creativity, not to serve as a measuring stick for success; that is the job of your objectives and goals. 10
  11. 11. Vision versus mission statement Vision and mission statements are two separate entities that answer two different questions about the business. Questions that are complementary in nature. A vision statement answers the question, "Where do I see my business going?" A mission statement answers the question, "Why does my business exist?” Vision statements are future-focused and written with the end result in mind. Mission statements are focused in the present and state the fundamental purpose of your business.Sample mission statements HR We provide quality HR services to attract, develop, motivate and retain a diverse workforce within a supportive work environment. We do this with an emphasis on department customer service based on consultation and communication with the campus of university community. Global To improve our clients’ performance, productivity and profitability through better use of professional their human capital. service firm 11
  12. 12. How to win the Talent War Embrace a Talent Mindset Differentiate, Craft Employee incentivize and Value affirm your Strategy Framework for Proposition people Talent Development Integrate Rebuild and Development Align into the Recruitment organization StrategyThe 5 imperatives by McKinsey 12 12
  13. 13. “No matter how good or how successful you are, or how clever or craftyyou are, your business and its future are in the hands of the people youhire.” Akio Morito, Late Chairman of SonyTALENT ACQUISITION 13
  14. 14. Recent Survey…• Two 2008 global studies rank acquisition of top talent # 1 perceived value service provided by HR 14
  15. 15. Talent Acquisition 15
  16. 16. Recruiting Challenges• Wide access to data• Expectations of hiring managers – Quality, Time, Cost• Expertise of hiring manager• Demotivating pressures on recruiters – Feedback only when things go wrong – Formal training often lacking• So… – Recruiting is difficult. – Hiring manager’s don’t get it.• How do we get it right? 16
  17. 17. Planning & Execution• Workforce Planning• Service level agreement (SLA)• Brand Building initiatives / Value Proposition• Relationships with institutes / colleges / educational centers• Contact events 17
  18. 18. Project Management• Be proactive; call before questions come• Make follow up a priority project• Share good and bad news• Keep all stakeholders posted with latest information pertaining to likely outcome• Partner with stakeholders• Regular contact important 18
  19. 19. Measuring Talent Acquisition…Quality of Hire Percentage of new hires that were the organization’s top choiceQuality of Candidates The ability of the organization to define the knowledge, skills and abilities needed to succeed in the job and work environment and to source candidates that meet the competenciesProgram Satisfaction Hiring manager satisfaction with the recruitment and hiring process and quality of candidatesTime-to-Hire The time it takes to hire a candidate to fill a position from job open until the position is offered and acceptedNew Hire Retention Rate The number of new hires who remain on the job for the first 12 to 18 monthsNew Hire Failure Rate The percentage of new hires in key jobs that were terminated or asked to leaveNew Hire Retention Rate The number of new hires who remain on the job for the first 12 to 18 monthsPerformance Ratings of “Contributor” or Whether top candidates meet or exceed expectations on“Extraordinary Contributor” performance reviews 19
  20. 20. Some Talent Acquisition Strategies• Proactively build and expand the pool of candidates.• Seek to fill positions internally, if applicable.• Improve candidates’ pre-screening process.• Enhance employer brand and reputation in the recruiting market place.• Explore new marketing outlets using Internet-based technologies (i.e., social networking sites) to reach passive candidates and targeted groups.• Create efficiencies in recruitment processes and workflows.• Obtain input from hiring managers.• Solicit new hire feedback.• Emphasize strategic workforce planning beyond 18-months.• Scale back or freeze talent acquisition efforts, when the need arises. 20
  21. 21. “Turned on” people figure out how to beat the competition,“Turned off” people only complain about being beaten by the competition. Ben Simonton, Author Of Leading People…TALENT ENGAGEMENT 21
  22. 22. Accepted Wisdom about Employees• Everyone can excel if they try hard enough• People will work harder if they get paid more money• Focus employee development on fixing weaknesses• Organization’s outcomes are dictated by hard financial realities• Key to growth is increasing demand• Superior performance is due to improved technology• Competencies, skills, and knowledge are more important than talent• Superior performance is the consequence of rational thinking—don’t let emotions get in the way• “People” are an organization’s most valuable asset 22
  23. 23. The Real-World• Employees who use natural talents produce significantly more than average workers• Emotionally committed employees form teams that deliver exceptional outcomes• Customers recognize the passion and commitment employees feel toward them and respond emotionally• Emotionally driven reactions build bridges between employees and customers that create engagement• Engagement is the key factor that drives growth• Sustainable growth is the route to profits 23
  24. 24. Emotional EngagementWhen the best performers are doingwhat they are best at 24
  25. 25. The Gallup Path Stock Higher Profit Increase Sustainable Growth Engaged Engaged Customers Employees Great Managers Id Strengths The Right FitEnterhere 25
  26. 26. Some facts…Employee Engagement Outcomes• 38% higher customer satisfaction• 22% higher productivity• 27% higher profitsEngaged Employees• Perform 20% better• Are 87% less likely to leave the organization 26
  27. 27. The Q 121. I know what’s expected2. I have what I need3. I do what I do best4. I am recognized5. Someone cares6. Someone develops me7. My opinion counts8. My job is important9. My colleagues are committed10. I have a friend at work11. Someone talks about my progress with me12. I learn and grow 27
  28. 28. How do you know who’s engaged?• Clear about purpose—seek ways to improve• Bring full selves to work• Highly skilled• High need for achievement• High energy• Committed to team• Upbeat and proud to work for you 28
  29. 29. Typical Employee Village 10% 15% High Potential High Achievers Not Yet Engaged 55% 20% CAVE Dwellers* Citizens Against Virtually Everything 29
  30. 30. StrategyNot Yet Engaged: 55% High Potentials: 15%• Average, Under-motivated • Talent + Aspiration + Engagement• Uncommitted to talents • High confidence• Mismatch between talents and job / • Keys to Engagement: career • Leadership opportunities• Keys to Engagement • New challenges • Discovering talents • Development & Growth • Finding a fit • Partnership • Support, coaching, developmentCAVE Dwellers: 10% Hi Achievers: 20%• Poor attitude • Steady performers with Depth• Poor performance • Individual contributors and managers• Toxic • Productive• Keys to Engagement • Keys to Engagement • Direct Feedback • Appreciation • Help them leave • Expertise • Recognition 30
  31. 31. Tactics Employees Managers Leaders Know self (talents, Be Active—Visibly Assess talent values, contributions) champion the effort Create business Prioritize Coach employees strategy that includes Engagement strategy Set Goals/Take Action Provide feedback Align vision, mission, strategy, procedures Communicate Explore (feedback and organizational/depart Provide resources and information seeking) ment needs active support Balance talent with needs Reward talent 31
  32. 32. “It’s as much about the act ofconversations, as it is about theoutcome of those conversations” 32
  33. 33. Top Ten Global Engagement Drivers1. Senior management’s sincere interest in employee well-being.2. The opportunity an employee has to improve skills.3. The organization’s reputation for social responsibility.4. Opportunity to provide input into decision making .5. An organization’s ability to quickly resolve customer concerns.6. An employee’s readiness to set high personal standards.7. Excellent career advancement opportunities.8. An employee’s interest in challenging work.9. An employee’s relationship with her supervisor.10. The organization’s encouragement of innovative thinking. 33
  34. 34. “Turned on” people figure out how to beat the competition,“Turned off” people only complain about being beaten by the competition. Ben Simonton, Author Of Leading People…HR AS BUSINESS PARTNER 34
  35. 35. HR’s Role – a survey output… • A recruiting/staffing function • A control function, saying “no” Today’s HR’s role • Business Partner function as pass-through channel • HR is often used as “excuse” for defaults within the business • Get basics right (payroll, personnel administration, compensation & benefits) • Proactive and qualitative guidance on personal development, recruitment, talent HR’s desired role management, etc • Teaming-up with/making joint-decisions with the business (also more communication) • Facilitate change and integration Desired • Listening to the business (what are their needs?) • Understanding what the business is about / what makes the business specificsCompetencies for (no one-size-fits-all) HR • Knowledge of social regulations and company legacy • Line management needs more coaching to execute their manager role Line Manager’s • HR is expected to set the boundaries within which managers can decide on HR-matters participation • Line management is often uncertain to take up HR-responsibilities because they are afraid of / not well informed of the implied consequences Three • Find the weak spots in HR-operations and realize quick-wins / fix the basics • Close a new pact with the groups / redefine the collaboration (e.g. consultation cycle)Recommendations • Improve business partnership: understanding needs, stronger mandate, clear role split for HR BP, experts and operations 35
  36. 36. HR Business Partner’s Capabilities and Competencies Key competencies Business HR Capabilities Grounded Expert • Business Insight • Client Relationship We are BUSINESS Management CATALYSTS by Change We are developing and Trusted • Business Planning & Strategy implementing HR strategies, Leader AMBASSADORS Advisor ensuring the voice policies, processes and tools • Influencing, Coaching & related to the Human element of the employee is of our business and acting as heard COACHES to the relevant Mentoring Business Leadership Group on all people related matters • Business Consulting • Service Management We are the CUSTODIANS of the consistent application of the • Leading Others We are SERVICE corporate principles, policies, PROVIDERS to the business guidelines, processes and tools on specific areas of HR as well as ensuring compliance Engaged expertise and to employees with all labor regulations Business Partner Driver Insightful Observer 3636
  37. 37. HR of tomorrow - The four roles of HR HR must evaluate how it is performing today and how it wants to perform in the future.Manage change and Provide leadership inmaximize workforce workforce and talentperformance to assist in Leading Edge strategies, and leadershipbusiness strategy development, ensuringimplementation. (e.g. Assist alignment with and input tobusiness leaders with the the business strategy. (e.g.planning for the people Threshold Partner with the businessimplications of change, such Performance leaders to understandas identifying relevant forward-looking talenttraining) requirements) HR CFO Focus TriangleCreate and implement relevant Focus on HR serviceHR policies and procedures delivery to drivethat: foster adherence to efficiency anddefined corporate values; effectiveness. (e.g.ensure regulatory compliance; Optimize the use ofand enable workforce risk recruiting technology)management.(e.g. Provide training andeducation on what it means tolive Client X’s corporate values) 37
  38. 38. Steward:staying ahead of the curve on ethics, compliance, risk and governance Roles and competencies Leading Edge • Focus : Develop, manage and govern HR policies and compliance; manage international HR compliance; manage workforce risks; build culture of performance out of compliance Threshold Performance • Role: Compliance and Governance Regulator (Corporate governance advisory and workforce risk management) • Competencies: Reporting, compliance and guidance, good HR CFO judgment, organizational awareness Focus Triangle • Critical Issues : Workforce risk management and broader guidance on controls to address workforce issues; establishing clear accountability and internal controls; developing appropriate tone at the top; finding ways to use compliance projects as a catalyst for performance improvement What leading organizations are doing • Manage labour related risks – regularly auditing HR processes and developing a formal strategy for mitigating workforce-related risks • Play important role in larger challenge of building an ethical and informed workforce (employees who know, understand and believe in what they need to do) • Strengthening HR’s reporting lines to ensure effective service delivery (client focused) • Develop controls (policies and procedures) and metrics to embed a culture of performance 38
  39. 39. Operator:efficiently and effectively executing the core HR transactions Roles and competencies Leading Edge • Focus : Efficiently deliver HR services; design and foster the optimal connection between HR and the company; quality service level definition Threshold Performance • Role : HR service delivery owner (HR service delivery & vendor manager, and performance and reward program architect) • Competencies: Leverage system capabilities, program/project HR CFO management, problem solving, and communication Focus Triangle • Critical Issues : Operating model development and its continual evolution with the needs of the business; service delivery; shared services and outsourcing What leading organizations are doing • Developing a vision for assessing current programs against that vision to identify improvement opportunities • Designing performance management programs to measure and evaluate performance of HR employees • Focused on improving efficiency and effectiveness • Administrator and functional/technical expert • Aspires to be a strategic business partner, but most not there yet • Significant emphasis on creating shared services organizations, with HR generalists in the field • Service is provided efficiently in-house or is outsourced to ensure a premium isn’t paid for basic HR transactions • Understand their function to anticipate their HR operating requirements 39
  40. 40. Catalyst:creating a work environment that helps people perform their best Roles and competencies Leading Edge • Focus: Provide organizational design and performance optimization services; change organization behavior and establishing a value attitude; assist the business with change management associated Threshold Performance with strategy implementation • Role: Organizational/performance/change / Location al • Competencies: Business perspective, organizational agility and HR CFO facilitation, conflict management; Strong communication and Focus Triangle change management skills • Critical Issues : Maximize performance of the workforce; org. structures that promote collaboration and innovation; creating a work environment that helps people perform their best What leading organizations are doing • Take a lead role in helping the executive team and workforce deal with change • Flexible and scalable for change • Constantly improving capabilities • Driving accountability through personal leadership, measurement, and commitment • Embedding the value of strong people management throughout the organization 40
  41. 41. Strategist:moving from supporting strategy implementation Leading Edge Roles and competencies • Focus: Coach and leadership developer; forward-looking talent management (contribute to business strategy, translate enterprise Threshold strategy into global workforce requirements, forecast talent needs, Performance address talent gaps; orchestrate learning, skills and career development) • Role : Workforce and talent management strategist HR CFO Focus • Competencies: Critical thinking, global perspective, strategic agility, Triangle dealing with ambiguity, • Critical Issues : Steering and informing the direction, helping the CEO and other leaders craft strategies that make sense in light of the labour trends and available talent What leading organizations are doing • Focused on driving business value, not just meeting internal customer needs • Easily accessible expertise and tools to solve business challenges • Partnering with business in creating strategies, not just reacting to outputs • Tracks key people metrics for the business to help clarify impact of people on business value 41
  42. 42. Dhananjay Bansod on behalf of NHRDTHANK YOU 42
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×