3. Perspectives on 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”
“The systematic attraction, identification, development,
engagement / retention, and deployment of those
individuals with high potential who are of particular
value to the organisation.”
Source CIPD Research Insights 2006
5. High Performance Aspiration
Characterized by:
A winning attitude,
where every employee
is inspired to move us
forward
The right people, in the
right roles, performing at
the right levels, now and in
the future
10. You do everything to prevent this: NCT / Test drive / AA
inspection…..
gather evidence that it will perform the job its supposed to..
11. The Case for Using Tools for Talent
Reliability
0.7
0.6
0.5
Reliability
0.4
0.3
0.2
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Assessment Method
Professionally designed and executed assessments deliver a more
accurate prediction of actual performance.
Reduce risk of failure
16. PSYCHOLOGICAL CONTRACT TYPES
HIGH
FIRM STRONG
• Employee expects a lot but don’t give everything
• Employee promises a lot & expects a lot in return
EMPLOYER COMMITTMENT
• Will meet expectations but not Contract type works once expectations are met
go the extra mile
FIRM STRONG
• Often relates to those in a role Oftenextended time
for an ‘Engaged’ and/or ‘Ambitious’ employees
• Often high-performers without Positiveseffort include high commitment & loyalty
significant often
• Can be under-utilised and/or stagnating in role likely if high expectations not met
Dissatisfaction
• Often appropriate for vocational Ideal for sales, management, & innovative roles
or structured roles
WEAK LOOSE
• Employees neither promise nor Substantial effort with low long-term expectations
• expect a lot
• Only the formal legal contract creates a connection
• Challenge & job content are key drivers
WEAK LOOSE
• These people will do what they• have to but no more or new-starters
Often deep specialists
• Performance is often below employer expectations
• Maybe the “new generation” of contract
• Turnover tends to be higher than normalto retain once the challenge is gone
• Difficult
LOW
• Can be appropriate for repetitive & lower level roles
• Appropriate for challenging & project-based roles
LOW HIGH
EMPLOYEE COMMITTMENT
17. The Business Case for
Employee Engagement
EASIER SAID 1. ENGAGED & 2. HIGH
THAN DONE MOTIVATED PERFORMANCE
EMPLOYEES & RETENTION
4. POSITIVE 3. POSITIVE
SHAREHOLER CUSTOMER
RETURNS EXPERIENCE
18. Organisations are People-Based
A feeling of attachment to
e ct the company and its values
ff Affective
e rE Commitment (belonging, solidarity, and
e ad affiliation)
o dL
Go
RETENTION
A feeling of obligation to
Normative serve the company and to
Commitment work hard
ct
E ffe A feeling of necessity to
is
Continuance C ris remain working for the
Commitment company as changing jobs
would cost too much
(economic, effort, social)
Meyer & Allen
PERFORMANCE
ENGAGED EMPLOYEED ARE HIGHER
PERFORMING & LONGER TENURED
22. The Leadership Gap
o On average 28 to 32% of your managers are fully competent in :
o leading people
o leading a complex and changing business
o steering towards the future
o Some of the leadership gaps that need to be filled:
o Listen to the voice of your Talent, give them practical growth opportunities,
take a risk with them.
o Create an atmosphere at the top that offers protection and allows people to
make mistakes.
o Create possibilities for Baby Boomers to understand Generation Y
o To Walk the Talk ! Copyright of Marc Timmerman, 2010
24. The Meaning of Leadership
o The Leader has a determining impact on Company Culture
o Leaders serve and sacrifice themselves
o The Best Leaders develop others
o “We all need loving critics”
o Making mistakes is human
o “You can’t plan to be courageous, but you can choose it”
Management is DOING THINGS RIGHT
Leadership is DOING THE RIGHT THINGS
Copyright of Marc Timmerman, 2010
26. Curtains !
Thank you for your attention
“The certainty of misery is better
than the misery of uncertainty”
Editor's Notes
“ A high-performance culture characterized by a winning attitude, where every person in every job is inspired to move us forward.” This represents the “psychology” of the organization It manifests itself through pride, ownership, passion, desire for excellence, connection to the Wyeth cause, Esprit de corps Where people know the work that is to be done, do it flawlessly, expect it of each other, across organization silos A place where people outside of Wyeth want to become a part of and those here absolutely want to remain Moving Wyeth’s Performance Curve… Superior performance / raising the bar on our ability to perform - at all levels - is critical Every job is absolutely necessary - with the right person, in the right job, performing at the right level, now and in the future Performance expectations are clear, dynamic and continue to evolve as our business evolves Performance shortfalls are business problems that are effectively managed The ultimate goal…is for Wyeth to succeed And if we can address the higher-level inspirational challenge, we will succeed over time in shifting our performance to new levels Every person in every job, raising everyone’s game The challenge…our competition is seeking to do the same That means that in order to be the best, we need to pursue this challenge and do it faster and better High Performance Culture –leads to Organization Performance Growth and Profitability; Productivity; Innovation; Customer Satisfaction; Employee Retention
Segment talent “One size fits all” no longer applies to HR. HR must learn to mould talent management offerings to meet the needs of different employees. The requirements of someone with high potential are not necessarily the same as those of an irreplaceable professional. HR needs to learn from Marketing : “Segmenting Talent pools”. Draw up a special competency profile for identifying your high potentials at an early stage in their career. Pre-selection of High Potentials : clear criteria and processes are crucial. Retain Key Players and put them in Key Roles. Set up specific challenges and engagement-systems for each segment.
Segment talent “One size fits all” no longer applies to HR. HR must learn to mould talent management offerings to meet the needs of different employees. The requirements of someone with high potential are not necessarily the same as those of an irreplaceable professional. HR needs to learn from Marketing : “Segmenting Talent pools”. Draw up a special competency profile for identifying your high potentials at an early stage in their career. Pre-selection of High Potentials : clear criteria and processes are crucial. Retain Key Players and put them in Key Roles. Set up specific challenges and engagement-systems for each segment.
People (brainpower, inspiration, innovation) source of competitive advantage Intangible assets > 50% market capitalisation of US public companies Global economy increasingly service and knowledge based Economic cycle brings different challenges & priorities Likely less short-term need for employee retention efforts Increasing focus on developing internal talent & rebuilding strong foundations
Our perspective: As companies reduce staff, key talent becomes available and sought after. Where they have an opportunity to secure exceptional talent due to market circumstances, we have seen hiring freezes thaw. The depressed market sees organisations preying on competitors’ highly skilled and experienced talent, who are difficult to recruit during better economic times. Companies need to address how to retain and engage this talent once on board. Star performers are, however, often staying put, because they are uncomfortable moving to an organisation that is unknown to them. A-players also prefer a participative leadership style (cfr. “High Potentials : The Competitive Edge in your Organisation”, 2007, Marc Timmerman & Charlotte Sabbe). Most Important Comment : Insecurity of your total remaining workforce will lead to disengagement, anxiety and even anger. Having a plan and communicating this to the workforce will have a securing effect on many of them. Not communicating a plan will have the same effect as having no plan, a possible disconnection of a large part of your workforce, just when you need their engagement most. Organisations have the opportunity to cull less effective employees from their work force while retaining an efficient organisation. A certain level of turnover can be beneficial for companies – the challenge is, of course, finding the correct level. This strategy can easily become counter-productive if handled badly. Other possible comment : Generation Y (young potentials) are finding out for the first time in their life, that the system can be stronger than the individual. They are seeking help and advice from their elders, in order to reduce the feelings of insecurity.