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  1. 1. Talent Management Andre O’Callaghan November 2008
  2. 2. Introduction "The thing that wakes me up in the middle of the night is not the economy or competitors; it is whether we have the leadership capability”. (David Whitwan, former CEO of Whirlpool Corporation)
  3. 3. Some Perspectives • In the 21st century: Talent is the new wealth • We are poachers of talent vs developers of talent • Most companies play “talent management catch-up” and not managing talent (GIBS)
  4. 4. Some Perspectives • Talent management is a 2-way relationship between the company and the employee • If not: “bodies” filling jobs The requirements The offering by the The mutual benefit of the organisation + potential employee = of both parties
  5. 5. Focus of Talent Management Bodies Nr’s & “Hard” TM Quality Hearts “Soft” TM & Minds Contract
  6. 6. Challenges • “A” Players versus “B” Players • Developing talent vs employability • Raised threshold of entry • Identification of dormant talent • Skills practice in the workplace
  7. 7. Trends • One third of the US federal working population will be retired by 2008 • Over 31000 vacancies in the Australian healthcare system • 60% of future jobs will require training that only 20% of the current workforce possess
  8. 8. Trends • 85% of current jobs require post-high school education (compared to 61% in the 1990’s) • Disengaged workforce • 70% of companies surveyed by BPM in 2007 - not effective in measuring staff performance and productivity
  9. 9. Benefits • Reduction of recruitment costs and risks • Effective knowledge management and transfer • Realisation of business strategy • Delivery of cutting edge services and products
  10. 10. Benefits • Creating a competitive advantage • Improved client retention (no loyal customers without loyal employees) • Maintaining adequate capacity
  11. 11. 9-Box Matrix - Potential High 3 6 9 Medium 2 5 8 Low 1 4 7 - Under Good Strong Performance
  12. 12. 9-Box Matrix Potential The sky is the limit: demonstrates the ability to operate at two or more levels above their current position High 3 6 9 Demonstrates the ability to move to a bigger/expanded role or to operate at one level above their current position Medium 2 5 8 Has not demonstrated the ability to move Low beyond their current role 1 4 7 Under Good Strong Performance performing Below expectations Met expectations Exceptional Performance : did not meet the Performance : reached expected Performance : consistently roles minimum targets on a targets and moved towards the exceeds expected and stretch consistent basis stretch targets of the role targets of the role Direction for business: did not set Direction for business set : Direction for business: set clear a clear direction for the business direction for the business unit direction for the business unit, or did not set a direction that which helped improve profitability leading to profitable growth enhanced the unit’s profitability People leadership : develops and People leadership: Fosters an People leadership : did not lead or contributes to effective teams effective team environment and develop teams effectively Execution : possesses a results has strong followership Execution : did not deliver on a orientation and achieves impact Execution : consistently delivers consistent basis with high impact
  13. 13. Identifying Talent “Talented individuals are mobile monopolies with global passports.” (Karaoke Capitalism – Ridderstrale & Nordstrom)
  14. 14. Identifying Talent A recent McKinsey survey in top SA companies showed: • Only 20% of SA executives know who the top performers are • Only 3% of top SA executives develop people effectively
  15. 15. Identifying Talent Cognitive Attitude Action
  16. 16. Key Elements of Identifying & Assessing Talent • Performance data • Talent review meetings • Track record reviews and evaluation • Qualifications • Psychometric assessments • Development/assessment centres • Multi-source feedback reports
  17. 17. Success Factors Meaningful Overstretched jobs •Self-clumsiness • Planned approach •Worry & self- conscious •Anxiety & stress • Marker-driven C •Position power o •Low productivity • Invest m •Task overload Underutilised •Frustration & p boredom • Timing of retention l •Stress e •Anxiety • Good job design x •Empire building i •Interference t •Outside focus y Capabilities
  18. 18. Success Factors • Compensation • Social Ties • Communication • Reward talent management
  19. 19. Remuneration • War on talent often becomes the “pay war” • Value of golden handcuffs? • The stars: – Performance often decreases over time – It affects team performance in a significant way – Stars’ performance in one organisation is often not repeated in another company – Tend not to stay for long - the “young and the restless” syndrome
  20. 20. Challenges • Talent don’t want to be led, they want to be inspired • Talent knows their value and expect you to know it as well • Talent is very mobile • Talent want protection and recognition
  21. 21. Challenges • Talent needs freedom to experiment and to fail • They need leaders to be on their level intellectually and in all other spheres • Leading talent is all about emotions
  22. 22. Challenges “If you want them to turn right, tell them to turn left” (Rob Goffee, 2007)
  23. 23. Challenges Attitudes of talented people towards organisational issues • Scornful of hierarchies • Fancy job titles and promotions – no value • They want to stay “close” to the “real work” • They do not want leadership
  24. 24. Challenges Attitudes of talented people towards organisational issues • They want instant access to the decision-makers • They have a low boredom threshold • They want to feel special • They won’t thank you
  25. 25. SMME’s Challenges: • Lack of Specialized Expertise • Fewer Economies of Scale • Hiring right
  26. 26. SMME’s Advantages: • Employee knowledge and relationships • Flat structures and effective communication • Sense of Belonging
  27. 27. Questions & Answers