Innovation and Talent Management

Innovation and Talent Management Jerry Manas [email_address]

Why Innovate? Hint: Ask Apple, 3M, Microsoft, GE, Sony, Dell, IBM, Google, P&G, Nokia, Virgin, Samsung, Wal-Mart, Toyota, EBay, Intel, Amazon, IDEO, Starbucks, and BMW Business Week Top 20 Innovative Companies (2005 poll of 940 senior executives by Boston Consulting Group)

Example ,[object Object],[object Object],[object Object],For most people: End of Story

But not for Rohwedder ,[object Object],[object Object],[object Object],[object Object],[object Object]

Lessons ,[object Object],[object Object],[object Object],[object Object],[object Object],Result: Transformed an industry and the consumer lifestyle

How to Innovate ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],Source: Tom Kelly, The Ten Faces of Innovation Customer satisfaction surveys have their limits.

First, What Business Are You In? ,[object Object],[object Object],[object Object],Build a Cult!

Innovate for Competitive Advantage ,[object Object],Source: Harry Beckwith, Selling the Invisible

Build a Brand ,[object Object],[object Object]

The Starbucks Approach ,[object Object],[object Object],[object Object],[object Object],[object Object],Source: Howard Schultz (CEO Starbucks), Pour Your Heart Into It

The Starbucks Approach – cont’d ,[object Object],[object Object],[object Object],[object Object],[object Object],Source: Howard Schultz (CEO Starbucks), Pour Your Heart Into It

What ingredients are needed for innovation?

The Ten Faces of Innovation ,[object Object],[object Object],[object Object],[object Object],Source: Tom Kelley of IDEO, The Ten Faces of Innovation

The Ten Faces of Innovation ,[object Object],[object Object],[object Object],[object Object],[object Object],Source: Tom Kelley of IDEO, The Ten Faces of Innovation

Innovation and Technology ,[object Object],[object Object],[object Object]

The Veteran’s Health Administration ,[object Object],[object Object]

The VHA Transformation ,[object Object],[object Object],[object Object],[object Object]

Innovation vs. Best Practices ,[object Object]

“ When Jacques Nasser was CEO at Ford, he ‘benchmarked.’ And I applauded. Why? His ‘benchmark’ was Dell! That is, a company outside his rather screwed-up industry. Likewise, the U.S. Marine Corps is benchmarking its supply-chain activities against… Wal-Mart. Hooray!” - Tom Peters, The Essentials Series: Talent

Talent Management ,[object Object]

Talent Management ,[object Object],[object Object]

Avoid the Peter Principle ,[object Object],[object Object],* Adapted from Marcus Buckingham, First Break All the Rules

Never arbitrarily promote someone to management based on performance or seniority. It takes the right strengths.

“ In an orchestra, you don’t automatically promote a great violinist to conductor. In football, most coaches were mediocre players at best. Only in business do we make the mistake of promoting the best performer to manager.” - Tom Peters

Building a Talented Team ,[object Object]

Building a Talented Team – cont’d ,[object Object],[object Object]

Create an environment where people can exercise and build on their existing strengths.

[object Object],[object Object],Source: Dennis Littky, The Big Picture: Education is Everyone’s Business

Food for Thought ,[object Object],[object Object],[object Object]

What about when people don’t perform well?

Examine the causes… Immediately

Fixing Performance Problems ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Adapted from Fixing Performance Problems , by Bud Bilanich (The Common Sense Guy – www.commonsenseguy.com)

“ Flex Your Knees Bill.” - Sam Jones’s “pep talk” to Bill Russell at the free throw line during the 1968 NBA Eastern Division Championship (Celtics vs. 76ers) Often, a gentle reminder is all that’s needed.

Another Reason for Poor Performance: The person is in the wrong role . ,[object Object],[object Object],[object Object],[object Object],[object Object],* Adapted from Marcus Buckingham, First Break All the Rules

When All Else Fails, You Have Three Choices… ,[object Object],[object Object],[object Object],* Adapted from Marcus Buckingham, First Break All the Rules

Talent Retention ,[object Object],[object Object],[object Object],We can conclude: Middle management culture impacts profitability.

Specifically, Employees Need: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Adapted from Marcus Buckingham’s First Break All the Rules

Does this impact profits? Sure does.

Employee Satisfaction Leads to Customer Retention Schlesinger and Heskett (1991) – Virtuous Circle

Customer Retention Leads to Profits ,[object Object]

Why? ,[object Object],[object Object],[object Object],[object Object],[object Object],Source: Buchanan and Gilles (1990)

[object Object],[object Object],But Remember…

Are your employees motivated? Is your team ready to go the next level of performance?

For More Information ,[object Object],[object Object],[object Object],[object Object],www.pmthink.com

Innovation and Talent Management

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