Talent Management in Turbulent Times : Internal Talent Identification & Strategic Hiring

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Talent Management in Turbulent Times : Internal Talent Identification & Strategic Hiring

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Talent Management in Turbulent Times : Internal Talent Identification & Strategic Hiring

  1. 1. PRESENTED BY: MR. SIDHARATH TULI VICE PRESIDENT & HEAD – L&T HYDROCARBON Talent Management in Turbulent Times : Internal Talent Identification & Strategic Hiring 7/30/2014 1
  2. 2. Talent Management in Turbulent Times : Internal Talent Identification & Strategic Hiring 7/30/2014 2
  3. 3. 7/30/2014 3
  4. 4. THE VUCA WORLD 7/30/2014 4
  5. 5. GLOBAL OIL AND GAS SCENARIO: BARRIERS North America Europe Asia-Pacific Skill shortages and/or ageing workforce Skill shortages and/or ageing workforce Increasing overall operating costs Growing regulatory burden Increasing overall operating costs Skill shortages and/or ageing workforce Increasing overall operating costs Tougher competition from international rivals Tougher competition from international rivals 36% 21% 15% 14% 14% Scarcest Skills for 2014 Project Managers Offshore related engineers Safety & risk engineers Onshore related engineers Marine related specialists 7/30/2014 5
  6. 6. L&T : VISION – ORGANIZATION STRATEGY – TALENT MANAGEMENT  Geographical Expansion - grow international business in Asia pacific, America, GCC, CIS & Africa  New Business Area - One step adjacencies - FSBU, Subsea, LNG, Modular Plants  Cost Reduction by 10-15% - Across Value Chain to improve competitiveness  Partnership – Pursued Targeted partnerships to focus on large value prospects  International HSE Standards  Building International Capability  Leadership Development for business growth  Strategic Talent Acquisition  Global Talent Mobility  Succession Planning for leadership pipeline ORGANIZATIONSTRATEGY TALENTMANAGEMENT 7/30/2014 6
  7. 7. TALENT MANAGEMENT AT LTHE STRATEGIC HIRING INTERNAL TALENT DEVELOPMENT OUTSOURCE/ SHORT TERM CONTRACT  Lack of Internal Talent  Benchmarking with competitors  Multicultural Talent Pool  New skills / Geographies/ Business  Building Leadership Pipeline  Succession Planning  Leveraging Known strengths  Mapping the aspirations of the Internal Talent  Non critical skills  Outsource Niche skills  Innovative recruitment strategy like fix term contract employment for a project duration  Transactional Jobs7/30/2014 7
  8. 8. CRITICAL ROLES Transactional Roles Business Critical Strategic Roles Operational Roles Business Critical Roles 7/30/2014 8
  9. 9. STRATEGIC HIRING 7/30/2014 9
  10. 10. CASE STUDY : 1 Selection of the eligible and suitable candidate Competencies / Behavior required for key positions Mapping External Talent 0 2 4 6 8 Good Domain Knowledge (Upstream) Good Domain Knowledge (HMD) Good Domain Knowledge (HCP) Execution (Project management) Business Building Leadership (Internal Team Handling) Leadership (External Stakeholder Handling) Commercial Acumen Strategic Thinking International Customers/ Market Domestic Customers/ Market Size of P&L Handled Culture Fit Candidate A Candidate B 7/30/2014 10
  11. 11. CASE STUDY : 2 Client : International Oil Company Project: XX Value: 800 MUSD Job Title: Project Director Benchmark Internal Candidate External Candidate Executed Projects of at up to 1BUSD √ √ Overall experience of 25 yrs √ √ Middle East Experience (Kuwait) √ √ (Middle East) √ (Kuwait) International Project Management / Oil & Gas expertise √ √ Experience in Hydrocarbon Sector √ √ √ Leadership Capability √ √ √ Managing Multicultural Diversity √ √ 7/30/2014 11
  12. 12. DEVELOPING INTERNAL TALENT 7/30/2014 12
  13. 13. POTENTIAL vs PERFORMANCE 7/30/2014 13
  14. 14. DOMAINS OF POTENTIAL
  15. 15. TRUE/ FALSE All high performers are high potentials 7/30/2014 15
  16. 16. TRUE/ FALSE Potential cannot be assessed accurately 7/30/2014 16
  17. 17. TRUE/ FALSE Assessing potential is a one time activity 7/30/2014 17
  18. 18. TRUE/ FALSE Immediate Managers can assess potential 7/30/2014 18
  19. 19. 7/30/2014 19 BEAUTY QUEEN, LOADERS TURN PILOTS AT AIRASIA
  20. 20. LEADERSHIP TRANSITIONS INDIVIDUAL CONTIBUTOR TEAM LEADER OPERATIONAL STRATEGIC STRATEGIC OPERATIONAL TEAM LEADER INDIVIDUAL CONTIBUTOR BUSINESS DRIVERS Transitional Competencies • Interpersonal Skills, Customer focus, Planning & Organizing, Decision Making, Drive, Creativity, Business Communication Transitional Competencies • Team Leadership, Networking, Resource Management, Motivating & empowering employees, Entrepreneurship, Influencing Transitional Competencies • Strategic Thinking, Change Management, Passion for results, Conflict Management, Customer Partnership 7/30/2014 20
  21. 21. BUILDING LEADERSHIP PIPELINE LDP GLDP TLTGC GLOBAL CEO FLPMEP Focuses on young potential Leaders of L&T Focuses on a distinct group of high performers for succession to critical positions Focuses on Entrepreneurial, Leadership, Strategic HR Management, Corporate Strategy & Finance for Value Creation from the Global Perspective Conceptualized in line with L&T's vision for an increased focus and foray into the global markets Provides a platform to discuss the challenges L&T would face in an increasingly global environment Assessment / Development Centre (Customized For Each Band) 7/30/2014 21
  22. 22. 7 STEP LEADERSHIP PIPELINE First-Level Leadership Program/ MEP with IIM-A Leadership Development Program (LDP) Global Leadership Development Program (GLDP) – Ross School of Business, Michigan Transforming L&T into a Global Corporation - Program in association with INSEAD Future Top Management Leadership Candidates sent for International Programmes to : •Harvard Bus. School •Wharton •LBS •INSEAD Building Global CEOs (program with Harvard Business School) Mentoring by the Board of Directors STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 STEP 6 STEP 7 Age up to 35 years Age upto 40 years Age upto 45 years Age upto 50 years 7/30/2014 22
  23. 23. 10-20-70 PRINCIPLE MENTORING FORUMS TALENT MOBILITY BEHAVIORAL EXPERTS RE- DEPLOYMENT WORKSHOPS GUIDE IDP BUSINESS CRITICAL ROLES 7/30/2014 23
  24. 24. FIRST-LEVEL LEADERSHIP PROGRAM KICK OFF SESSION + TEAM BUILDING LEAD SELF LEAD & FOLLOW OTHERS LEAD LAKSHYA LEAD INTERNATIO- NALIZATION 360 °FB + Case Study/ Assessment Reports Integrated Session with the HR Facilitators IDP /ALP Formulation Session with BE Review -IS/NS/ HR Online Modules Group Mentoring 360 °FB Session with BE Final Review with IS/DH/HR Learning Café (End of Forum 4) Career Planning Exercise Role Clarity Exercise 7/30/2014 24
  25. 25. INSTITUTIONS THAT HARVEST CAPABILITIES 7/30/2014 25
  26. 26. … 7/30/2014 26
  27. 27. AND THE BEST TEAM WINS! 7/30/2014 27
  28. 28. THANK YOU 7/30/2014 28
  29. 29. GLOBAL OIL AND GAS SCENARIO: OPPORTUNITIES Opportunity ranking 2013 2015 Rising emerging market demand 1 1 Investing in innovation and R&D 2 2 Frontier acreage 3 3 Focused recruitment, training and retention programs 4 4 Safety and risk management used as enabling partner 5 5 New infrastructure to gain access to, or to connect, resources and markets 6 7 New or expanded markets for natural gas 7 6 Acquisitions or alliances to gain capabilities or gain access to resources and markets 8 8 Additional Corporate Social Responsibility 9 9 Strategic divestitures 10 10 Ernst& Young- “Business Pulse Exploring dual perspectives on the top 10 risks and opportunities in 2013 and beyond” 7/30/2014 29
  30. 30. GLOBAL OIL AND GAS SCENARIO: RISKS Risk Ranking 2013 2015 The risk of HSE event and in ensuring regulatory compliance 1 1 Price volatility 2 2 Access to reserves or markets 3 3 Cost escalation and inflation 4 6 Uncertainty in energy policy 5 5 Worsening fiscal terms 6 4 Human Capital Deficit 7 7 Competition from new technologies and sources 8 8 IT security 9 10 Increasing project scale and complexity 10 9 Ernst& Young- “Business Pulse Exploring dual perspectives on the top 10 risks and opportunities in 2013 and beyond” 7/30/2014 30
  31. 31. INDIAN OIL AND GAS SCENARIO: CHALLENGES • Government regulation • Ensuring sustained oil and gas supplies amidst volatile international prices • Demand management of petroleum products and gas • To sustain as a net exporter of petroleum products • Rational pricing in view of uncontrollable global prices • Creation of market competition in distribution and retail business • Improving the administration of subsidies in kerosene, LPG, petrol & diesel • Improvement in energy efficiency and conservation and environmental management • Absence of statutory framework in the upstream industry • Transnational gas pipelines facing uncertainty • The oil and gas industry in India currently faces talent shortage7/30/2014 31
  32. 32. INDIAN OIL AND GAS SCENARIO Power 31% telecom 25%Roads and Bridges 12% Irrigation 10% Railways 7% Oil and Gas 6% Water supply 4% airports 2% ports 2% storage 1% Sectoral Investment Planned in 12th Five-Year Plan 1025 US$ Bn 7/30/2014 32
  33. 33. CRITICAL CAREER PROGRESSION Each Transition requires new SKILLS requirements, change in MINDSET and new WORK VALUES PROMOTION INTERVIEWS for high potentials to decide on the individual career path across the organization 7/30/2014 33
  34. 34. KEY TAKEAWAYS • Transformational Risk/ cultural fit for new hires • Transitional Risk during Role Change • Approach : Proactive vs. Reactive • Internal Dynamics of the Organization • Building a culture of internal mobility • Knowledge transfer from Key Lateral Recruits 7/30/2014 34

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