ENAMX Talent Development

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ENAMX Talent Development

  1. 1. Best Practices in Talent Management Key Ideas for Building and Sustaining a Robust Talent Pipeline
  2. 2. A few of my clients:
  3. 3. John Spence <ul><li>“ The success of your company is directly proportional to your ability to find, attract, hire, grow and retain the absolute best people you can possibly get.” </li></ul>
  4. 4. Survey of 3,000 companies <ul><li>Only 18% of companies reported that they are winning the war for talent. </li></ul><ul><li>72% of companies portrayed it as an endless struggle in which they were making no progress at all. </li></ul><ul><li>10% declared that they had lost the war for talent and had given up in defeat. </li></ul>
  5. 5. What were the roadblocks? <ul><li>We aren’t sure what we’re looking for. </li></ul><ul><li>Talent development is just a slogan, not a way of life. </li></ul><ul><li>The results are hard to measure and it takes years to play out. </li></ul>
  6. 6. Harvard Study: Top Six Talent Management Challenges <ul><li>Attracting and retaining enough high quality employees at all levels to meet the needs of organic and inorganic growth. </li></ul><ul><li>Creating an employee value proposition that appeals to multiple generations. </li></ul><ul><li>Developing a robust leadership pipeline. </li></ul><ul><li>Rounding out the capabilities of hires who lack the skills to be effective leaders. </li></ul><ul><li>Transferring key knowledge and relationships to future generations of leaders. </li></ul><ul><li>Enlisting executives who don’t appreciate the challenge of trying to find and hire top talent. </li></ul>
  7. 7. The High Price of Hiring Wrong…
  8. 8. Actively Disengaged Employees… 22%
  9. 9. <ul><li>“ Creating a sustainable pipeline of promotable internal talent that provides top-tier leadership talent requires a fully integrated, company-wide approach to talent acquisition, development, management and succession planning.” </li></ul>Corporate Leadership Council Succession Management Survey
  10. 10. <ul><li>The seven core principles of building a sustainable talent pipeline. </li></ul>
  11. 11. <ul><li>It starts with the business strategy. What kind of company are you trying to build? </li></ul><ul><li>Higher now for the future. </li></ul><ul><li>Recognize talent management as a core business process with impact on overall business and financial success for the enterprise. </li></ul>
  12. 12. <ul><li>Make talent management a part of the business culture. </li></ul><ul><li>Measure it and know if it’s making a difference. </li></ul><ul><li>Identify, develop, and promote “high potential” talent. </li></ul><ul><li>Address talent gaps with aggressive internal development. </li></ul>
  13. 13. The Global Human Resource Research Alliance <ul><li>Best practices in integrated talent management. </li></ul>
  14. 14. Recruitment and Staffing <ul><li>Talent pool strategy rather than hire for specific positions. </li></ul><ul><li>Highly selective hiring/ challenging interviewing process. </li></ul><ul><li>Compelling employee value proposition. </li></ul><ul><li>Focus on values and cultural fit, not just job-related skills and experience. </li></ul><ul><li>Continuous assessment of performance and potential. </li></ul><ul><li>Grading against competency profiles of successful leaders. </li></ul><ul><li>Use of talent inventories for selection/succession. </li></ul>
  15. 15. Training and Development <ul><li>Continuous assessment of training needs/feedback/360° </li></ul><ul><li>Individual development plans linked to succession planning process. </li></ul><ul><li>Job rotations as career development tools. </li></ul><ul><li>Line manager involvement (coaching, mentoring) </li></ul><ul><li>Use of open job posting system and internal marketplace. </li></ul><ul><li>Promotion-from-within policy. </li></ul><ul><li>Leadership development is a top priority and deeply ingrained in the culture. </li></ul>
  16. 16. Top High-Potential VPs from GE, Microsoft, Verizon, Qualcomm, State Farm, Abbott and Merrill Lynch… <ul><li>Credible </li></ul><ul><li>Respectful </li></ul><ul><li>Approachable </li></ul><ul><li>Team Player </li></ul><ul><li>Highly Professional </li></ul>
  17. 17. Leader of the Future <ul><li>Character </li></ul><ul><li>Courage </li></ul><ul><li>Communication </li></ul><ul><li>Collaboration </li></ul><ul><li>Compassion </li></ul><ul><li>Contribution </li></ul>
  18. 18. Retention Management <ul><li>Continuous monitoring of attrition rates. </li></ul><ul><li>Highly competitive compensation. </li></ul><ul><li>Personalized career plans. </li></ul><ul><li>Senior management attention for high potentials. </li></ul><ul><li>Flexible working arrangements. </li></ul><ul><li>Diversity programs designed to develop, retain and promote a diverse workforce. </li></ul>
  19. 20. <ul><li>Zero Talent Outages. </li></ul><ul><li>Succession Not Replacement. </li></ul><ul><li>Becoming a Talent Machine. </li></ul>
  20. 21. You question for discussion during dinner… <ul><li>What are the three biggest challenges OR opportunities for ENMAX in creating a fully integrated talent development process that truly makes your organization a Talent Machine ? </li></ul>

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