In Search of a Talent Management Strategy

Agenda • About Knowledge Infusion • Importance of a Talent Management Strategy • Ten Key Planks for Every Talent Management Strategy • Enabling Strategy Through People, Process, Technology • Questions 3 Knowledge Infusion Proprietary and Confidential, Copyright 2008

About Knowledge Infusion Founded in 2004 by Jason Averbook and Heidi Spirgi Global Company Leader in HCM and talent management consulting and advisory services Total Employees Approximately 50, Across North America Headquarters & Offices Minneapolis, MN; Offices throughout US Target Markets Fortune 2000, Mid-market, Public Sector Number of Customers Over 150 Areas of Expertise HCM and talent management, portals and self-service, performance, succession, recruitment, learning & development, workforce planning, analytics Nordstrom, MetLife, Yahoo!, Turner Broadcasting, Intuit, Notable Customers Safeway, Luxottica, Health Net, AAA 4 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Talent management Still in Infancy • Companies scoring in the top quintile of talent-management practices outperform their industry's mean return to shareholders by a remarkable 22 percentage points.” “The War for Talent, Part Two,” McKinsey Quarterly, May, 2001 • “Just over 20 per cent of personnel managers can see little or no link between quot;talent managementquot; and their organization's goals… Fewer than half believe the two are closely linked in their organization.” “Talent management - a task far easier said than done,” Financial Times, Oct. 23, 2003 • “Too many organizations still dismiss talent management as a short-term, tactical problem rather than an integral part of a long-term business strategy, requiring the attention of top-level management and substantial resources.” “Making Talent a Strategic Priority,” McKinsey Quarterly, 2008, No. 1 • “Demographics, globalization, and the characteristics of knowledge work present long-term challenges that reinforce the argument for putting workforce planning and talent management at the heart of business strategy and for giving those issues a bigger share of senior management’s time.” “Making Talent a Strategic Priority,” McKinsey Quarterly, 2008, No. 1 8 Knowledge Infusion Proprietary and Confidential, Copyright 2008

HR Still Challenged to Articulate a Strategy for Talent Source: Knowledge Infusion & HR Executive ® Talent Management Suite Adoption Survey N = 317 10 Knowledge Infusion Proprietary and Confidential, Copyright 2008

How Companies are Approaching Talent Management Source: Knowledge Infusion & HR Executive ® Talent Management Suite Adoption Survey N = 317 11 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Talent Management Strategy is found in the white space between HR processes and formed out of business strategy. The objective is to move beyond optimizing talent to transforming talent into a strategic advantage. 13 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Optimization versus Transformation The design and operation of a system or process to make it as good as possible in some defined sense A marked change in appearance or action with an emphasis on drastic improvement and outcomes 14 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Strategy Is Created Out of the White Space Insight into Talent Develop Key Talent Manage Critical Roles Manage the Bench Optimize Deployment Mobilize Talent Retain & Engage Develop Talent Pipeline Compensation Management Performance Management Succession Acquisition Planning Learning Planning Career Talent 15 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Ten Key Elements in a Talent Management Strategy 1. Business AND/OR Employee Focus 2. Talent Supply & Demand Model 3. Definition of Talent Demand 4. Definition of Talent Supply 5. Talent Planning Process 6. Top Down AND/OR Bottom Up 7. Talent Mobility 8. Talent Attributes 9. Processes: Transformation 10. Measurement 17 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Business and / or Employee Focus Which perspective drives Talent Management? • Business Focus • Business performance is critical; talent is essential to performance • What are the business’ talent demands? • What does the business need to know about talent (Talent Profiles)? • What will the business invest in to have needed talent? • Employee Focus • Employee engagement is critical; engagement drives performance • How do we better engage our talent? • What are our employees’ demands of the organization? • Where we will invest to improve and sustain engagement? 19 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Do You: Have It? Build It? Buy It? Process/Systems for Talent Supply Competencies Performance Mgmt Succession Planning Talent Performance Mgmt Business Compensation Demand Objectives Learning Mgmt Succession Planning Career Development Talent Acquisition Contingent Workforce 21 Knowledge Infusion Proprietary and Confidential, Copyright 2008

What Talent Does the Business Need – Now & Future? Driven by business strategy and objectives • Short-term – open job requisitions • Mid-term – talent needs assessments • Long-term – workforce planning Assessments and planning to focus on • Critical Roles • Leadership 23 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Critical Roles • Strategic element • Essential to an organization’s ability to execute its strategy • What is the organization’s strategic plan? • What are the organization’s key strategic objectives? • What are the strategic levers – technologies, information, skills, knowledge, relationships – required to realize the objectives? • What are the roles that employ these levers to achieve the objectives? • What roles drive the metrics with which executive leadership is obsessed? 24 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Critical Roles Focused, Prioritized Investment • Recruitment • Target talent with competencies for high performance in critical roles • Development • Bench strength for critical roles • Improve performance of critical role incumbents • Performance Management • Raise performance expectations of critical role incumbents • Compensation • Differentiate compensation based on performance 25 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Leadership • Leadership is a critical role • Define “leader” in your organization • Identify specific competencies for leadership • Any global / international experience / knowledge required? • Cross-functional, cross-business unit experience / knowledge required? • Identify all TM process in which involve leadership competencies • Integrate leadership competencies into TM processes 26 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Talent Supply Tomorrow Today Dynamic Process Annual Process Capability Planning Headcount Planning Function of Biz Strategy Function of Budget Led by TM Led by Staffing/Talent Consultants/HR Biz Acquisition Partners Focus is New Jobs Focus is New Capability 28 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Integrated Talent Sourcing Talent Inventory (Talent Profiles) Education Performance Ratings Certifications / Licenses Competencies Languages Leadership Behaviors Geographical Location Preferences Career Interests Work History Business Objectives / Outcomes Experiences (Professional / Personal) Organizational Job History ` Performance Learning External Talent Contingent Career Management Management Acquisition Management Development Talent Supply: Integrated Talent Sourcing ` 29 Knowledge Infusion Proprietary and Confidential, Copyright 2008

The Talent Management Model Filling Jobs Operational Planning Workforce Planning (0-12 Months) (6-18 months) (12-48 months) Internal Performance Management Succession Planning Business Strategy Cascading Goals & 360 Reviews Internal Mobility Planning Competition Internal Sourcing Career Management Workforce Demographics Development Development Technology External Talent Acquisition Market Analysis Candidate Relationship Management Employment Brand Offshore/Outsource/Relocation Demand Planning Talent Segmentation / Critical Roles Skills / Competencies and Other Attributes Jobs 31 Knowledge Infusion Proprietary and Confidential, Copyright 2008

HR May Not Lead All Talent Activities Top Down: HR Leads • Defines career paths/ job families / job profiles • Develops competencies • Defines talent profile • Bottom Up: Business elements Units / Employees Lead • Implements processes, • Define roles & competencies programs, technologies • Wikis for sharing career information • Social networks for collaboration • Development opportunities 33 Knowledge Infusion Proprietary and Confidential, Copyright 2008

How Will You Mobilize Your Talent? • Across Business / Functional Units • Identify competencies to leverage across units • Across Geographies • Evolve from “fill a global job” to global talent growth • Structure and support a global talent model • Levels of Support for Mobility • Goals & incentives for encouraging appropriate mobility • Level the playing field globally 35 Knowledge Infusion Proprietary and Confidential, Copyright 2008

What Do You Need to Know About Your Talent? • Job Profiles • Essential experiences, knowledge, skills & abilities for high performance • Critical jobs? All jobs? • Talent Profiles • What does the organization need/want to know about its talent? • How will the organization match talent to jobs? • Competencies • What behaviors should employees demonstrate to achieve competitive advantage? • When / where to use? • HR as Competency Steward, not owner • Continual, multi-process assessment model 37 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Business Processes Transformation – The Magic 10 1. Business outcome based 2. Built for the workforce, not HR 3. Two Purposes for Every Process • Process-centered value • Decision support value 4. Think TRANSFORMATION then CALIBRATION 5. Business process transformation makes technology successful, not the technology itself 39 Knowledge Infusion Proprietary and Confidential, Copyright 2008

The Magic 10 - Continued 6. Reporting and workforce intelligence are a must, not just the transaction 7. Integrated into the business as much as possible 8. Combine, blend and rethink process cycle 9. RAD for compliance and alignment purposes a) Repeatable b) Auditable c) Documented 10. Metrics tied to them; before the transformation and after - what has been the impact? 40 Knowledge Infusion Proprietary and Confidential, Copyright 2008

People To From • Business-owned strategy • HR owned function/ that the HR Business process partner develops • Unified talent organization • Siloed HR functions based models on process • Reflection of business • Limited by of HR needs & dynamics competencies, history & assumptions • Deploying business capability to manage talent • Launching a tool / system 47 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Processes From To • Siloed & integrated • Unified & fluid • Peanut butter approach = • Enables different same for everyone strategies for “All & Few” • Optimization • Transformation 48 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Technology From To • Modules • Unified & fluid • Process support • Business decision support • Optimization • Transformation • Developed to serve HR • Developed to serve the business and employees 49 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Evolving Talent Mgmt. Technologies Mirror Processes Critical Roles Competencies Compensation Development Management Performance Management Management Acquisition Learning Career Talent Integrated Talent Suite Pipeline Talent Profiles Knowledge Management Analytics Talent Planning 50 Knowledge Infusion Proprietary and Confidential, Copyright 2008

Web 2.0: Golden Opportunity for HR • How can we use Web 2.0 to: • Attract and retain talent? • Facilitate employee collaboration and engagement? • Recent SelectMinds survey showed: • 77% of workers ages 20-29 believe that the social aspects of work are very important to their overall sense of workplace satisfaction, compared with 67% of their older colleagues • 20% of workers ages 20-29 report leaving a job because they felt disconnected from the organization, compared to workers ages 30 and above • Leverage wikis, blogs, social networks to enhance talent management and effectiveness 51 Knowledge Infusion Proprietary and Confidential, Copyright 2008

http://triagung.wordpress.com	70
http://www.slideshare.net	48
http://journeyofhrd.blogspot.com	18
http://www.knowledgeinfusion.com	12
http://www.journeyofhrd.blogspot.com	3
http://www.techgig.com	3
https://triagung.wordpress.com	1

In Search of a Talent Management Strategy

by Jason Corsello on Feb 02, 2009

Accessibility

Categories

Tags

Upload Details

Usage Rights

7 Embeds 155

Statistics

In Search of a Talent Management Strategy — Presentation Transcript