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Paradigm shift

Building a new talent management model
to boost growth

November 2012
Introduction

►   Growth is at the top of every organization’s agenda.

►   Competitive advantage is hard to find.

►   Talent : an untapped opportunity.

►   Investment in talent often requires deep organizational changes.

►   High performing companies invest more in talent management.

►   It’s time for a “paradigm shift”.




Page 2                       Paradigm shift
Agenda

►   About the survey
►   Survey highlights
►   In search of a new talent paradigm:
    1.   Corporate workforces are becoming more global, but talent management is not
         keeping pace.
    2.   Companies struggle to invest strategically in talent management
    3.   Measuring the effectiveness of talent management remains a challenge.
    4.   The skills and competencies required by future business leaders are changing.
    5.   Companies lack robust succession plans to identify the next generation of
         leaders.
►   Business implications
►   Responses to business implications
►   Does your talent model measure up?




Page 3                       Paradigm shift
About the survey

The survey of 596 executives was conducted and analyzed as follows:

Survey demographics:
► 1/3 of respondents were from the Asia-Pacific region
► 1/3 from Western Europe
► 1/3 from North America
► 10% were from Latin America, the Middle East and Africa, and Eastern Europe.
► 53% percent of the respondents were CEOs, CFOs or other C-level executives.
► 44% percent of the companies surveyed reported revenues of US$1 billion or more.


Analysis:
► Compared findings from rapid-growth market and developed markets.
► Compared findings from high-performers with low-performers.




Page 4                      Paradigm shift
Survey highlights




Page 5        Paradigm shift
Survey Highlights
Differences between high and low-performers

►   High-performers:

    ►    Place greater emphasis on linking pay with performance
    ►    Provide more customized training and development
    ►    Invest in talent management to meet the organization’s financial targets
    ►    Choose people who can lead effectively in an international business environment
    ►    Have a stronger pipeline of future leadership talent
    ►    Build more robust succession plans and future leaders with diverse backgrounds




Page 6                        Paradigm shift
Survey highlights
Differences between developed and rapid-growth markets

►   Businesses in rapid-growth markets are more likely to:

    ►    Offer variety in job descriptions and responsibilities

    ►    Offer opportunities for employee mobility across functions

    ►    Encourage working in different countries and offer greater freedom
         to direct reports to make decisions

    ►    Adopt an equal (less of a top-down) style of management




Page 7                        Paradigm shift
In search of a new talent paradigm




Page 8      Paradigm shift
Scarcity of talent is becoming a key obstacle
to growth
►   In India, the percentage of employers jumped 51% in 2011.

►   60% of organizations were experiencing a leadership shortage, an
    increase of 40% from the previous year.

►   72% of respondents reported difficulty finding and keeping the high-
    potential employees essential to boost their global competitiveness.




  Source: Corporate Executive Board 2012 survey.


Page 9                          Paradigm shift
Five key talent management challenges

1.    Corporate workforces are becoming more global, but talent
      management is not keeping pace.

2.    Companies struggle to invest strategically in talent management.

3.    Measuring the effectiveness of talent management remains
      a challenge.

4.    The skills and competencies required by future business leaders
      are changing.

5.    Companies lack robust succession plans to identify the next
      generation of leaders.

Page 10                  Paradigm shift
The challenges




Page 11      Paradigm shift
Challenge 1:

   Corporate workforces are becoming more
   global, but talent management is not
   keeping pace




Page 12       Paradigm shift
It’s hard to find a company that isn’t global

               What percentage of your organization’s workforce is based in a country other than where
               the corporate headquarters are located?

                                                   Now   In three years


                           34




                                 24          23     22                    22

                                                                17                     18



                                                                                 10                      10
          9
                                                                                                   7
                   4



              0%           1%-20%            21%-40%           41%-60%          61%-80%           81%-100%



Page 13                                Paradigm shift
But talent management is not keeping up

                                How effective is your organization at the following aspects
                                of performance and talent management?

                             Overseas workforce <40%          Overseas workforce >40%        All respondents


          68%

                                60%
                                                       56%                    56%
                                                                  50%
                                                                                                     46%                    45%
                    41%
                                                                                                                37%




    Adapting talent management policies to    Understanding clearly the relationship between Investing adequately in talent management to
     changes in the business environment          employee performance and company                meet organization's financial targets
                                                   performance (e.g., revenue growth)




Page 14                                      Paradigm shift
The link between autonomy and performance

                       In the past three years, what changes has your organization made to the way
                       in which managers manage direct reports?
                                                     Now   In three years



                          34




                                 24
                                              23
                                                     22                     22

                                                                                           18
                                                                   17



                                                                                     10                   10
          9
                                                                                                     7
                   4



              0%            0-20%               20-40%              40-60%            60-80%         80-100%




Page 15                                 Paradigm shift
Not enough opportunities for overseas
experience

                    Which of the following are part of your organization's strategy to manage a multicultural or
                    international workforce?

                                                            Low perfomers   High performers

                                                                                                    42%
         Offer pension schemes, health care and other benefits
                                                                                                   41%

                                                                                                  39%
             Encourage employees to join mentoring programs
                                                                                                    42%

                                                                                                          46%
                                      Encourage flexible working
                                                                                                            48%

                                                                                                          47%
 Create opportunities for employees to work in other countries
                                                                                                                  53%

                                                                                                          47%
                  Provide customized training and development
                                                                                                                    55%

                                                                                                                  52%
 Introduce greater varierty of responsibilities in job descriptions
                                                                                                                        57%

                                                                                                             50%
          Put greater emphasis on linking pay and performance
                                                                                                                          59%

                                                                                                                        58%
   Create opportunities for employee mobility across functions
                                                                                                                                64%




Page 16                                            Paradigm shift
Challenge 2:

   Companies struggle to invest strategically
   in talent management




Page 17       Paradigm shift
Companies struggle to make the right
investments in talent
                                   How effective is your organization at the following aspects
                                   of performance and talent management?

                                                   High performers     Low performers
             66%
                            61%
                                                          56%

                                                                         50%
                                                                                                        46%


                                                                                                                       37%




    Adapting talent management policies to    Investing adequately in talent management to Understanding clearly the relationship between
     changes in the business environment           meet organization's financial targets       employee performance and company
                                                                                                performance (e.g., revenue growth)




Page 18                                      Paradigm shift
Challenge 3:

   Measuring the effectiveness of talent
   management remains a challenge




Page 19       Paradigm shift
A focus on the wrong metrics?

               Which of the following metrics do you consider to be the most important determinants of
               an effective talent management program?
                                                       Low perfomers   High performers


                                                                            18%
                  Extent of skills gaps in workforce
                                                                                          26%

                                                                                         25%
                    Diversity of management team
                                                                                                31%

                                                                                                              40%
             Level of cross-functional collaboration
                                                                                                      34%

                                                                                                                  41%
                             Employee productivity
                                                                                                            38%

                                                                                                        36%
 External reputation of organization as an employer
                                                                                                              40%

                                                                                                                   42%
                                    Retention rates
                                                                                                                         45%

                                                                                                                                     57%
                             Employee satisfaction
                                                                                                                               53%




Page 20                                         Paradigm shift
Challenge 4:

   The skills and competencies required by
   future business leaders are changing




Page 21       Paradigm shift
It’s the soft skills that matter most

                What do you consider to be the most important attributes for potential C-level leaders of
                your organization?
                                                        Low perfomers      High performers


                                                                                          13%
                                                Is a good risk manager
                                                                                         12%

                                                                                                      27%
                                          Has strong grasp of financials
                                                                                                21%

                                                                                                          32%
                                                 Has industry expertise
                                                                                                        30%

                                                                                                      27%
                                                          Decisiveness
                                                                                                            33%

                                                                                                                  37%
 Can engage effectively with multiple internal and external stakeholders
                                                                                                            33%

                                                                                                                    40%
                   Can command the respect of colleagues and reports
                                                                                                                  38%

                                                                                                                  37%
  Can articulate and embody the values and culture of the organization
                                                                                                                          44%

                                                                                                                  37%
          Can lead effectively in an international business environment
                                                                                                                            47%




Page 22                                         Paradigm shift
Challenge 5:

   Companies lack robust succession plans
   to identify the next generation of leaders




Page 23       Paradigm shift
Concerns about the next generation
of leaders
                      To what extent do you agree that your organization has the following aspects of
                      leadership development in place?
                                                          Low perfomers    High performers


                                                                                               38%
          A clear set of qualification metrics for leadership candidates
                                                                                                    43%


                                                                                              36%
 Future leaders with sufficiently diverse experience and backgrounds
                                                                                                     45%


                                                                                             33%
                    Robust succession plans for key leadership roles
                                                                                                      48%


                                                                                                    43%
                           A strong pipeline of future leadership talent
                                                                                                            54%


                                                                                                                  70%
      Current crop of leaders with the right attributes and experience
                                                                                                                        78%




Page 24                                           Paradigm shift
Business implications




Page 25       Paradigm shift
1. Align and integrate talent management
across the business

►   Companies need to make sure that:

    ►     They align talent management with culture, values and
          strategic goals.

    ►     They recruit and retain a workforce in a way that
          supports their key objectives.

    ►     Their HR function is embedded in the business and
          serves as a partner to it.




Page 26                     Paradigm shift
2. Rethink approaches to international talent

►   Companies need to review their approach to international mobility
    and re-integration:

    ►     Embedding mobility into their leadership and high-potential programs

    ►     Adopting a strategic approach: overseas experience as part of long-term
          leadership development programs

    ►     Developing repatriation plans to take the executives to the next stage in their
          career




Page 27                          Paradigm shift
3. Create the right blend between global and
local talent management
►   Most companies try to standardize and globalize their talent
    management practices.

►   The one-size-fits-all model will not work.

►   Some standardization is desirable.

►   But companies need to think locally about how to attract and retain
    talent.

►   Companies should develop a framework that combines fixed and
    flexible components.



Page 28                   Paradigm shift
4. Use analytics to identify talent gaps and
better understanding of workforce behavior
►   Effective workforce analytics start with:
    ►     Accurate data
    ►     Complete data
    ►     The ability to aggregate it


►   Workforce analytics offer the opportunity to:
    ►     Identify skills gaps
    ►     Link talent management decisions with broader performance objectives


►   Some companies are using analytics to:
    ►     Forecast talent shortages or surpluses
    ►     Assess how cycles will affect the availability of human capital resources


►   Companies need to recognize that technology is a support
    mechanism and not the solution to everything.

Page 29                          Paradigm shift
5. Take a long-term approach to
developing the next generation of leaders

►   Companies should:
    ►     Take a long-term approach to leadership development
    ►     Extend succession planning beyond the immediate top team


►   High potential programs can be valuable, but there is
    a risk that they could turn into training grounds for the
    competition.

►   Companies must also be aware that past performance
    is not always a predictor of future potential.



Page 30                   Paradigm shift
Responses to business implications




Page 31       Paradigm shift
Business implications and responses


                               ► Align talent management with company culture, values and strategic goals
 1.Align and integrate         ► Recruit, retain and reward employees in a way that supports key objectives
   talent management           ► Integrate talent management programs across the entire organization and
   across the business           adapt to keep pace with changes in the business environment
                               ► Embed HR into the business, establishing a more strategic partnership with
                                 the function

                               ► Build mobility programs into long-term leadership development, providing
 2.Rethink approaches to         high-potential executives with exposure to different markets to broaden
   international mobility        their knowledge and appreciation of different cultures
   as well as re-              ► Create a multi-directional flow of talent across developed and
   integration                   rapid-growth markets
                               ► Include a robust repatriation plan for international assignees

 3.Create the right blend      ► Establish the right balance by which talent management decisions will be
   of global and local           made: centrally versus locally
   talent management           ► Think locally about how to attract and retain talent, as well as how to
                                 position the company as an attractive place to work




Page 32                     Paradigm shift
Business implications and responses


 4.Use analytics to           ► Evaluate which metrics are most effective in supporting corporate
   identify talent gaps         performance objectives
   and gain a better          ► Use data to understand where skills gaps might exist
   understanding of           ► Look ahead to predict availability of talent (e.g., within an industry)
   workforce behavior
                              ► Understand the link between company and employee performance

                              ► Consider the gap between current and future leaders, focusing on
                                the right attributes and experience
 5.Take a long-term           ► Build a strong pipeline of future leadership talent
   approach to                ► Include succession planning that expands beyond top leadership in your
   developing the next          approach
   generation of leaders      ► Establish an effective process for choosing a new leader, defining a
                                set of qualification metrics for these candidates
                              ► Consider soft skills, which may be more important than having deep
                                subject-matter knowledge




Page 33                    Paradigm shift
Three key strategies for maximizing your
return on talent

                          ► Investing in talent has a long-term outcome
 Think long term          ► Look beyond the short-term expense of mobility, performance management
                            and recognition and rewards; instead focus on the long-term investment,
                            such as providing critical market experience


                          ► Move away from traditional measures, such as employee satisfaction,
                            productivity, engagement, collaboration and retention
 Measure the right        ► More effective measures include filling positions with internal candidates,
 outcomes                   developing job-specific employee skills and competencies, assessing and
                            validating recruitment and selection processes, and evaluating talent
                            according to business-performance standards

                          ► Align your approach with the business strategy
 Adopt a disciplined      ► Integrate programs across the organization
 approach                 ► Measure results to validate business strategy execution




Page 34                Paradigm shift
Does your talent model measure up?




Page 35      Paradigm shift
Does your talent model measure up?

Three key takeaways from today’s event:

1.    Think long term. Remember that investing in talent has a long-term
      outcome, and it may be years before your company sees the results.

2.    Measure the right outcomes. Move beyond traditional measures
      such as employee satisfaction, productivity and engagement.

3.    Adopt a disciplined approach. Treat talent management as a
      disciplined process involving alignment, integration and
      measurement.




Page 36                  Paradigm shift
Ernst & Young
  Assurance | Tax | Transactions | Advisory

  About Ernst & Young
  Ernst & Young is a global leader in assurance, tax,
  transaction and advisory services. Worldwide, our
  167,000 people are united by our shared values and an
  unwavering commitment to quality. We make a
  difference by helping our people, our clients and our
  wider communities achieve their potential.

  Ernst & Young refers to the global organization of
                                                                                       Growing Beyond
  member firms of Ernst & Young Global Limited, each of                                Global growth is the business issue of today.
  which is a separate legal entity. Ernst & Young Global
  Limited, a UK company limited by guarantee, does not
                                                                                       In Growing Beyond, we’re exploring how
  provide services to clients. For more information about                              companies can grow faster — by expanding
  our organization, please visit www.ey.com.                                           into new markets, finding new ways to
                                                                                       innovate and taking new approaches to
                                                                                       talent. It’s an ongoing program to help you
  © 2012 EYGM Limited.                                                                 grow beyond your expectations. Join the
  All Rights Reserved.                                                                 discussion at www.ey.com/growingbeyond
  EYG No. EX0157

  This publication contains information in summary form and is therefore
  intended for general guidance only. It is not intended to be a substitute
  for detailed research or the exercise of professional judgment. Neither
  EYGM Limited nor any other member of the global Ernst & Young
  organization can accept any responsibility for loss occasioned to any
  person acting or refraining from action as a result of any material in this
  publication. On any specific matter, reference should be made to the
  appropriate advisor.




  ED None




Page 37                                                               Paradigm shift

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  • 1. Paradigm shift Building a new talent management model to boost growth November 2012
  • 2. Introduction ► Growth is at the top of every organization’s agenda. ► Competitive advantage is hard to find. ► Talent : an untapped opportunity. ► Investment in talent often requires deep organizational changes. ► High performing companies invest more in talent management. ► It’s time for a “paradigm shift”. Page 2 Paradigm shift
  • 3. Agenda ► About the survey ► Survey highlights ► In search of a new talent paradigm: 1. Corporate workforces are becoming more global, but talent management is not keeping pace. 2. Companies struggle to invest strategically in talent management 3. Measuring the effectiveness of talent management remains a challenge. 4. The skills and competencies required by future business leaders are changing. 5. Companies lack robust succession plans to identify the next generation of leaders. ► Business implications ► Responses to business implications ► Does your talent model measure up? Page 3 Paradigm shift
  • 4. About the survey The survey of 596 executives was conducted and analyzed as follows: Survey demographics: ► 1/3 of respondents were from the Asia-Pacific region ► 1/3 from Western Europe ► 1/3 from North America ► 10% were from Latin America, the Middle East and Africa, and Eastern Europe. ► 53% percent of the respondents were CEOs, CFOs or other C-level executives. ► 44% percent of the companies surveyed reported revenues of US$1 billion or more. Analysis: ► Compared findings from rapid-growth market and developed markets. ► Compared findings from high-performers with low-performers. Page 4 Paradigm shift
  • 5. Survey highlights Page 5 Paradigm shift
  • 6. Survey Highlights Differences between high and low-performers ► High-performers: ► Place greater emphasis on linking pay with performance ► Provide more customized training and development ► Invest in talent management to meet the organization’s financial targets ► Choose people who can lead effectively in an international business environment ► Have a stronger pipeline of future leadership talent ► Build more robust succession plans and future leaders with diverse backgrounds Page 6 Paradigm shift
  • 7. Survey highlights Differences between developed and rapid-growth markets ► Businesses in rapid-growth markets are more likely to: ► Offer variety in job descriptions and responsibilities ► Offer opportunities for employee mobility across functions ► Encourage working in different countries and offer greater freedom to direct reports to make decisions ► Adopt an equal (less of a top-down) style of management Page 7 Paradigm shift
  • 8. In search of a new talent paradigm Page 8 Paradigm shift
  • 9. Scarcity of talent is becoming a key obstacle to growth ► In India, the percentage of employers jumped 51% in 2011. ► 60% of organizations were experiencing a leadership shortage, an increase of 40% from the previous year. ► 72% of respondents reported difficulty finding and keeping the high- potential employees essential to boost their global competitiveness. Source: Corporate Executive Board 2012 survey. Page 9 Paradigm shift
  • 10. Five key talent management challenges 1. Corporate workforces are becoming more global, but talent management is not keeping pace. 2. Companies struggle to invest strategically in talent management. 3. Measuring the effectiveness of talent management remains a challenge. 4. The skills and competencies required by future business leaders are changing. 5. Companies lack robust succession plans to identify the next generation of leaders. Page 10 Paradigm shift
  • 11. The challenges Page 11 Paradigm shift
  • 12. Challenge 1: Corporate workforces are becoming more global, but talent management is not keeping pace Page 12 Paradigm shift
  • 13. It’s hard to find a company that isn’t global What percentage of your organization’s workforce is based in a country other than where the corporate headquarters are located? Now In three years 34 24 23 22 22 17 18 10 10 9 7 4 0% 1%-20% 21%-40% 41%-60% 61%-80% 81%-100% Page 13 Paradigm shift
  • 14. But talent management is not keeping up How effective is your organization at the following aspects of performance and talent management? Overseas workforce <40% Overseas workforce >40% All respondents 68% 60% 56% 56% 50% 46% 45% 41% 37% Adapting talent management policies to Understanding clearly the relationship between Investing adequately in talent management to changes in the business environment employee performance and company meet organization's financial targets performance (e.g., revenue growth) Page 14 Paradigm shift
  • 15. The link between autonomy and performance In the past three years, what changes has your organization made to the way in which managers manage direct reports? Now In three years 34 24 23 22 22 18 17 10 10 9 7 4 0% 0-20% 20-40% 40-60% 60-80% 80-100% Page 15 Paradigm shift
  • 16. Not enough opportunities for overseas experience Which of the following are part of your organization's strategy to manage a multicultural or international workforce? Low perfomers High performers 42% Offer pension schemes, health care and other benefits 41% 39% Encourage employees to join mentoring programs 42% 46% Encourage flexible working 48% 47% Create opportunities for employees to work in other countries 53% 47% Provide customized training and development 55% 52% Introduce greater varierty of responsibilities in job descriptions 57% 50% Put greater emphasis on linking pay and performance 59% 58% Create opportunities for employee mobility across functions 64% Page 16 Paradigm shift
  • 17. Challenge 2: Companies struggle to invest strategically in talent management Page 17 Paradigm shift
  • 18. Companies struggle to make the right investments in talent How effective is your organization at the following aspects of performance and talent management? High performers Low performers 66% 61% 56% 50% 46% 37% Adapting talent management policies to Investing adequately in talent management to Understanding clearly the relationship between changes in the business environment meet organization's financial targets employee performance and company performance (e.g., revenue growth) Page 18 Paradigm shift
  • 19. Challenge 3: Measuring the effectiveness of talent management remains a challenge Page 19 Paradigm shift
  • 20. A focus on the wrong metrics? Which of the following metrics do you consider to be the most important determinants of an effective talent management program? Low perfomers High performers 18% Extent of skills gaps in workforce 26% 25% Diversity of management team 31% 40% Level of cross-functional collaboration 34% 41% Employee productivity 38% 36% External reputation of organization as an employer 40% 42% Retention rates 45% 57% Employee satisfaction 53% Page 20 Paradigm shift
  • 21. Challenge 4: The skills and competencies required by future business leaders are changing Page 21 Paradigm shift
  • 22. It’s the soft skills that matter most What do you consider to be the most important attributes for potential C-level leaders of your organization? Low perfomers High performers 13% Is a good risk manager 12% 27% Has strong grasp of financials 21% 32% Has industry expertise 30% 27% Decisiveness 33% 37% Can engage effectively with multiple internal and external stakeholders 33% 40% Can command the respect of colleagues and reports 38% 37% Can articulate and embody the values and culture of the organization 44% 37% Can lead effectively in an international business environment 47% Page 22 Paradigm shift
  • 23. Challenge 5: Companies lack robust succession plans to identify the next generation of leaders Page 23 Paradigm shift
  • 24. Concerns about the next generation of leaders To what extent do you agree that your organization has the following aspects of leadership development in place? Low perfomers High performers 38% A clear set of qualification metrics for leadership candidates 43% 36% Future leaders with sufficiently diverse experience and backgrounds 45% 33% Robust succession plans for key leadership roles 48% 43% A strong pipeline of future leadership talent 54% 70% Current crop of leaders with the right attributes and experience 78% Page 24 Paradigm shift
  • 26. 1. Align and integrate talent management across the business ► Companies need to make sure that: ► They align talent management with culture, values and strategic goals. ► They recruit and retain a workforce in a way that supports their key objectives. ► Their HR function is embedded in the business and serves as a partner to it. Page 26 Paradigm shift
  • 27. 2. Rethink approaches to international talent ► Companies need to review their approach to international mobility and re-integration: ► Embedding mobility into their leadership and high-potential programs ► Adopting a strategic approach: overseas experience as part of long-term leadership development programs ► Developing repatriation plans to take the executives to the next stage in their career Page 27 Paradigm shift
  • 28. 3. Create the right blend between global and local talent management ► Most companies try to standardize and globalize their talent management practices. ► The one-size-fits-all model will not work. ► Some standardization is desirable. ► But companies need to think locally about how to attract and retain talent. ► Companies should develop a framework that combines fixed and flexible components. Page 28 Paradigm shift
  • 29. 4. Use analytics to identify talent gaps and better understanding of workforce behavior ► Effective workforce analytics start with: ► Accurate data ► Complete data ► The ability to aggregate it ► Workforce analytics offer the opportunity to: ► Identify skills gaps ► Link talent management decisions with broader performance objectives ► Some companies are using analytics to: ► Forecast talent shortages or surpluses ► Assess how cycles will affect the availability of human capital resources ► Companies need to recognize that technology is a support mechanism and not the solution to everything. Page 29 Paradigm shift
  • 30. 5. Take a long-term approach to developing the next generation of leaders ► Companies should: ► Take a long-term approach to leadership development ► Extend succession planning beyond the immediate top team ► High potential programs can be valuable, but there is a risk that they could turn into training grounds for the competition. ► Companies must also be aware that past performance is not always a predictor of future potential. Page 30 Paradigm shift
  • 31. Responses to business implications Page 31 Paradigm shift
  • 32. Business implications and responses ► Align talent management with company culture, values and strategic goals 1.Align and integrate ► Recruit, retain and reward employees in a way that supports key objectives talent management ► Integrate talent management programs across the entire organization and across the business adapt to keep pace with changes in the business environment ► Embed HR into the business, establishing a more strategic partnership with the function ► Build mobility programs into long-term leadership development, providing 2.Rethink approaches to high-potential executives with exposure to different markets to broaden international mobility their knowledge and appreciation of different cultures as well as re- ► Create a multi-directional flow of talent across developed and integration rapid-growth markets ► Include a robust repatriation plan for international assignees 3.Create the right blend ► Establish the right balance by which talent management decisions will be of global and local made: centrally versus locally talent management ► Think locally about how to attract and retain talent, as well as how to position the company as an attractive place to work Page 32 Paradigm shift
  • 33. Business implications and responses 4.Use analytics to ► Evaluate which metrics are most effective in supporting corporate identify talent gaps performance objectives and gain a better ► Use data to understand where skills gaps might exist understanding of ► Look ahead to predict availability of talent (e.g., within an industry) workforce behavior ► Understand the link between company and employee performance ► Consider the gap between current and future leaders, focusing on the right attributes and experience 5.Take a long-term ► Build a strong pipeline of future leadership talent approach to ► Include succession planning that expands beyond top leadership in your developing the next approach generation of leaders ► Establish an effective process for choosing a new leader, defining a set of qualification metrics for these candidates ► Consider soft skills, which may be more important than having deep subject-matter knowledge Page 33 Paradigm shift
  • 34. Three key strategies for maximizing your return on talent ► Investing in talent has a long-term outcome Think long term ► Look beyond the short-term expense of mobility, performance management and recognition and rewards; instead focus on the long-term investment, such as providing critical market experience ► Move away from traditional measures, such as employee satisfaction, productivity, engagement, collaboration and retention Measure the right ► More effective measures include filling positions with internal candidates, outcomes developing job-specific employee skills and competencies, assessing and validating recruitment and selection processes, and evaluating talent according to business-performance standards ► Align your approach with the business strategy Adopt a disciplined ► Integrate programs across the organization approach ► Measure results to validate business strategy execution Page 34 Paradigm shift
  • 35. Does your talent model measure up? Page 35 Paradigm shift
  • 36. Does your talent model measure up? Three key takeaways from today’s event: 1. Think long term. Remember that investing in talent has a long-term outcome, and it may be years before your company sees the results. 2. Measure the right outcomes. Move beyond traditional measures such as employee satisfaction, productivity and engagement. 3. Adopt a disciplined approach. Treat talent management as a disciplined process involving alignment, integration and measurement. Page 36 Paradigm shift
  • 37. Ernst & Young Assurance | Tax | Transactions | Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of Growing Beyond member firms of Ernst & Young Global Limited, each of Global growth is the business issue of today. which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not In Growing Beyond, we’re exploring how provide services to clients. For more information about companies can grow faster — by expanding our organization, please visit www.ey.com. into new markets, finding new ways to innovate and taking new approaches to talent. It’s an ongoing program to help you © 2012 EYGM Limited. grow beyond your expectations. Join the All Rights Reserved. discussion at www.ey.com/growingbeyond EYG No. EX0157 This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Neither EYGM Limited nor any other member of the global Ernst & Young organization can accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. On any specific matter, reference should be made to the appropriate advisor. ED None Page 37 Paradigm shift