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Talent Management Presentation

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With 60% of employees stating that they will look to change jobs when the economy picks up, what should you be doing to manage & retain your talent?

With 60% of employees stating that they will look to change jobs when the economy picks up, what should you be doing to manage & retain your talent?

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  • This is truly a terrible system that is unfair and screwed by the mere fact that everyone has employees they like more than others so it is very very easy to scew these things. It is degrating to employees, stressful and is defintely NOT a morale boster. there are better ways to conduct performance management than butting everyone up against each other. What about team players? There are none because everyone is out to out do each other so they get the better placement on the grid...NICE
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  • What is Talent – Ask the group and put on a flipchart. One of the most used defenitions
    What is Talent Management? Ask the Group and Put on a Flip chart
    How do you manage talent? Need to understand organisation first –
  • Read out statements ask to agree or disagree- If you have ‘agreed’ to more than four of the statements in the checklist, then your organisation is already facing or is likely to face significant challenges relating to skills and knowledge requirements. Talent management may be an approach that would help to meet and overcome those challenges. The types of statements you agree with will help determine how you need to manage your talent.
  • If you still need convincing, here’s some facts and figures…
  • While the facts and figures may apply to most organisations, remember that it is important to understand your organisation’s environment, it’s strategic approach and relevant labour markets before can consider how talent management may help your organisation.
    Different orgs have different ideas of who their talent is .. For example…
    For example,
  • So who is your talent?
    Often when talk about talent management, people refer to the structures, processes and people that are focused on high potentials or Hipos… high performers earmarked for promotion.
    Generation Y = typically people born after 1980. Some employers are concerned they have too great expectations from the workplace. Studies predict that Generation Y will switch jobs frequently, holding far more than Generation X due to their great expectations. To better understand this mindset, many large firms are currently studying this conflict and are trying to devise new programs to help older employees understand Generation Y .
    One group often overlooked is “key talent” people with skills and talent that the organisation most value
    Manage both groups and you will have a winning team!
    Generation X= born in 60s and 70s.
  • Appraisal Process- Annually over a 2 month period- all employees should have a PDR where performance against last years objectives measured, career discussion and training plan and set new objectives for the year ahead. All appraisals should then be collated so can see if people are planning to leave, getting bored, require specific training etc and a training plan produced, costed, signed off and communicated.
    Succession planning is critical for if you get one of your key people announcing they are going to leave- also if bidding for long term contracts with organisations esp. local government etc. they will often ask to see evidence of succession planning for key roles.
  • Post it notes
    Packs of CV templates
    PDR info- just incase!
    Agree who sits where
    C3s B3s need managing out of position- are they in wrong role?
    B1, A1, A2 need career plans- Hypos who need to know where their next move is
    C1, B2, Key Talent
    Once agreed- manager needs to sit down with each person, go through their CV template, their grid rating and what it means- they then need a development plan to either improve their performance, give them new challenges
  • Apprentices, abolition of DRA leading to need to acquire new skills, demographic analysis- great for engaging key talent as they may have started as apprentices- NESL
    CSR- highest level of employee engagement is giving people opportunity to use their skills outside work environment- outreach programmes with local schools etc, VF in Stoke volunteering etc- most likely to be advocates for the company.
    Mentioned earlier about making people managers because no where else for them to go- pay scale increases to reflect people’s skills and increase in earning potential.Just because not moving upwards doesn’t mean they cant earn more money- NVQs etc.
    Mentoring, coaching etc
    Participation in cross business activities and PR, use PDR process and employee forums to give opportunity to raise ideas and help implement solutions.
  • Much more cost effective to make the most of your internal talent and Hipos than to let them go somewhere else. Also much better to promote people internally than to have to always go outside the business- if people can see a clear career path, then they will stay with you for longer. Training and development are often budgets that get cut when things get tough, but much better to invest in your good people and performance manage your ineffective ones through some simple processes than to have to recruit new people.
  • Transcript

    • 1. Talent Management • What is Talent Management? • Do I need to Manage my Talent? • Who is our Talent? • How do I do it? • Why now?
    • 2. What is Talent Management? • Talent consists of those individuals who can make a difference to organisational performance, either through their immediate contribution or in the longer term by demonstrating the highest levels of potential. • ‘Comprehensive and integrated set of activities to ensure that the organisation attracts, retains, motivates and develops the talented people it needs now and in the future’ Baron and Armstrong (2007) • Understand your organisation’s environment, it’s strategic approach and relevant labour markets before can consider how talent management may help your organisation.
    • 3. Agree or Disagree? • My organisation’s strategy includes any of the following: major organisational growth, a move into new areas of goods/service provision or international growth. • Our strategy is significantly influenced by political factors and government policies. • Technological developments influence our strategy. • The sector in which my organisation operates is highly competitive. • My organisation’s strategy is affected by international factors, for example the growth of production in China or India. • My organisation finds it difficult to fill vacancies for key groups of employees. • Applicants for jobs in my organisation often lack the necessary skills. • Employees are reluctant to move jobs and/or locations. • Work–life balance issues are becoming increasingly important to our workforce. • We have concerns about the average age of our workforce. • Our workforce lacks diversity either in terms of gender and/or ethnicity and/or age and this is a concern for us. • There is a lot of competition either locally, nationally or internationally for the kind of people and skills my organisation needs. • We expect to see significant changes in the numbers of employees that we will need in the future. • We expect to see significant changes in the skills that we will need in the future. • We anticipate that the ageing population in the UK will create some challenges for us. • My organisation/sector does not have a strong image in the labour market. • Labour turnover of key staff is a problem for us.
    • 4. Does my organisation need Talent Management? “succession planning is growing in importance as recruitment budgets are squeezed” “60 % of all employees state that when the recession ends they are going to look for a new job” “67% of companies have problems recruiting people where specialist skills are necessary” “Average cost to recruit a new employee is £4000.. To recruit a senior Manager it is £10 000” “50% of organisations state that the recession has had a negative effect on their recruitment budget”
    • 5. Who is our ‘talent’ • Top 10% of high-performers, whatever their role or level. • Executives with potential for board-level appointments • High-potential individuals who are identified as the leaders of tomorrow. • An end-to-end view of newly appointed graduates to top leadership. • Every employee should be included in talent management activities.
    • 6. Hipos v Key Talent • Typically represent 2-10% of managers • Easily bored, need challenge • Appetite for learning • Peaks in their performance but also weaknesses • Expected to rise at least two further levels in the foreseeable future • Graduates/ Generation Y • “The Apprentice” • Typically represent 5-10% of total employees • Stay in same role for longer • Business specific technical knowledge or skills. • Skills are hard to replace • No obvious career path therefore often mismanaged • Non Graduates/ Generation X, Baby Boomers • “Undercover Boss”
    • 7. How do I manage talent? • Appraisal Process for all employees • Performance Against Objectives • Career Discussion- Short term and long term goals • Personal Development Plan and Training Plan • Half Yearly review to check on track • Succession Planning for Senior and Critical Roles • Annual Development Boards • All Senior Managers their direct reports and Critical Roles fill in ‘CV Template’ • Group meeting facilitated by HR to discuss and review the output • Assess people against 2 criteria- Performance and Potential • Aspiration, Ability, Engagement • 9 Box or Talent Matrix
    • 8. The Talent MatrixPerformance HIGHMEDIUMLOW C1 Low Potential/High Performance Continual high achiever with limited upward potential. Significant value to the organisation B1 Medium Potential/High Performance High performer with some potential. Likely to be able to move at least one organisational level A1 High Potential/High Performance Consistently high performer and high potential – likely to represent the future leaders of the company C2 Low Potential/Medium Performance Satisfactory performer but with limited potential at this stage. Ensure that are managed to minimise blockages in key developmental positions or do not decrease their performance B2 Medium Potential/Medium Performance Solid performer, some potential but unlikely to involve career progression at this stage. Create opportunities to develop in role A2 High Potential/Medium Performance High potential and performing to the standards required in the role C3 Low Potential/Low Performance A performance issue, performing below the standard required in the role. Individuals will need to change performance/behaviour. B3 Medium Potential/Low Performance Performing below the standards required in the role with limited future potential. Provide clear guidance of expectations in role to move performance up and ensure that their performance does not decrease A3 High Potential/Low Performance High potential but performing below expectations. May be a new joiner/new to role or in the wrong job for their skills Potential LOW MEDIUM HIGH
    • 9. Key Talent • Apprenticeships • Corporate Social Responsibility • Reward and Recognition • Opportunities to pass on skills • Manage them
    • 10. Why Now? “succession planning is growing in importance as recruitment budgets are squeezed” “60 % of all employees state that when the recession ends they are going to look for a new job” “67% of companies have problems recruiting people where specialist skills are necessary” “Average cost to recruit a new employee is £4000.. To recruit a senior Manager it is £10 000” “50% of organisations state that the recession has had a negative effect on their recruitment budget”
    • 11. Thank you