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Recognising and releasing valueTalent ManagementDr Douglas Young1© HRPD Associates 2009
DefinitionsTalent 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. Talent management is the systematic attraction, identification, development, engagement/ retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles								CIPD working definitions2© HRPD Associates 2009
The Value of TalentResearch shows that outstanding performers typically deliver  four to six  times more performance than average (whether salespeople, surgeons, software developers or any other role)
Selecting or developing just one outstanding performer has huge impact on overall performance
Identifying what differentiates outstanding performers from average can be used to:
Coach and develop less effective performers
Inform the succession planning process
Produce a template to inform selection of outstanding performers (as opposed to average)
Massively leverage organisation performance ie shift the whole  curve  to the rightPoorAverageOutstanding/“Talent”PerformanceThe best way to persuade Senior Management of the value of Talent Management is to put a Value on that talent (ROI)3© HRPD Associates 2009
Especially in economic crisisThe current uncertain economic climate makes the effective and strategic management of talent more not less important. It is likely that whatever the economic backdrop, organisations will continue to prioritise recruiting scarce talent and identifying, developing and managing talent throughout the businessChartered Institute Personnel & Development4© HRPD Associates 2009
Downturn impacts on TM DriversDRIVERTHINK ABOUTFOCUSBusiness-critical needsClarify strategy and align TMAlignment  goals & rolesSuccession PlanningMonitor performance alignmentUse dashboard analysisRestructuringRetention - keeping your best people despite turmoilKeep close to talent & address concerns e.g.  talent who might leaveEnsure knowledge/client networks base built /maintainedShort- and long-term balanceLots of talent on the market now but it won’t lastOptimise  current talentGrab external talent now if you can afford it - seed bed the future talent poolSharing learning and pooling resourcesTalent is about knowledge, skills, experience, networksEnsure knowledge management  processes maximised to share talent capability5© HRPD Associates 2009
Economic Downturn ResponsesResponses to the downturn by adopting positive talent managementpractices: 55% are developing more in-house talent 45% are focusing on essential development 43% are continuing to recruit key talent 35% are increasing their focus on employee retention.However, only 51% felt that managers are equipped to tackle the challenges of managing talent in a downturn								 CIPD Survey 6© HRPD Associates 2009
Inclusive – Exclusive continuumWhere on the range is most suited to your organisation at this timeExclusive GroupsInclusiveCritical SeniorRolesAll employees are potential talentMore appropriate for small professional organisation
 Low aspiration model
 Less competitive/fit for purpose
 Reasonable proposition?
 May “turn off” real talent
 Any new process required?
 Easier to implement/less impactSubset (s) are seen as potential talent  More appropriate for large organisation
  Ideal if  there are clear mission critical roles
  May create divisive culture
  May make people feel stigmatised

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Talent Management

  • 1. Recognising and releasing valueTalent ManagementDr Douglas Young1© HRPD Associates 2009
  • 2. DefinitionsTalent 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. Talent management is the systematic attraction, identification, development, engagement/ retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles CIPD working definitions2© HRPD Associates 2009
  • 3. The Value of TalentResearch shows that outstanding performers typically deliver four to six times more performance than average (whether salespeople, surgeons, software developers or any other role)
  • 4. Selecting or developing just one outstanding performer has huge impact on overall performance
  • 5. Identifying what differentiates outstanding performers from average can be used to:
  • 6. Coach and develop less effective performers
  • 7. Inform the succession planning process
  • 8. Produce a template to inform selection of outstanding performers (as opposed to average)
  • 9. Massively leverage organisation performance ie shift the whole curve to the rightPoorAverageOutstanding/“Talent”PerformanceThe best way to persuade Senior Management of the value of Talent Management is to put a Value on that talent (ROI)3© HRPD Associates 2009
  • 10. Especially in economic crisisThe current uncertain economic climate makes the effective and strategic management of talent more not less important. It is likely that whatever the economic backdrop, organisations will continue to prioritise recruiting scarce talent and identifying, developing and managing talent throughout the businessChartered Institute Personnel & Development4© HRPD Associates 2009
  • 11. Downturn impacts on TM DriversDRIVERTHINK ABOUTFOCUSBusiness-critical needsClarify strategy and align TMAlignment goals & rolesSuccession PlanningMonitor performance alignmentUse dashboard analysisRestructuringRetention - keeping your best people despite turmoilKeep close to talent & address concerns e.g. talent who might leaveEnsure knowledge/client networks base built /maintainedShort- and long-term balanceLots of talent on the market now but it won’t lastOptimise current talentGrab external talent now if you can afford it - seed bed the future talent poolSharing learning and pooling resourcesTalent is about knowledge, skills, experience, networksEnsure knowledge management processes maximised to share talent capability5© HRPD Associates 2009
  • 12. Economic Downturn ResponsesResponses to the downturn by adopting positive talent managementpractices: 55% are developing more in-house talent 45% are focusing on essential development 43% are continuing to recruit key talent 35% are increasing their focus on employee retention.However, only 51% felt that managers are equipped to tackle the challenges of managing talent in a downturn CIPD Survey 6© HRPD Associates 2009
  • 13. Inclusive – Exclusive continuumWhere on the range is most suited to your organisation at this timeExclusive GroupsInclusiveCritical SeniorRolesAll employees are potential talentMore appropriate for small professional organisation
  • 17. May “turn off” real talent
  • 18. Any new process required?
  • 19. Easier to implement/less impactSubset (s) are seen as potential talent More appropriate for large organisation
  • 20. Ideal if there are clear mission critical roles
  • 21. May create divisive culture
  • 22. May make people feel stigmatised
  • 23. Easier implement in private sector
  • 24. Creates aspirational target
  • 25. Requires additional processes7© HRPD Associates 2009
  • 26. Key ProcessesProcess RevueProcess Design8© HRPD Associates 2009
  • 27. Key Processes9© HRPD Associates 2009
  • 28. Process DesignProcess DesignHow will you measure success?Retention levels of people in talent pools?% Critical roles filled by people defined as “talent?”% Critical roles with identifiable and capable successors?% of critical/ senior roles filled by internal talent as opposed to externally sourced?Development of innovative products or servicesIncrease in ratio of high talent applications Benchmarked as copy/organisation people aspire to work forNumber of people from minority groups/women in senior roles?Number of people described as “talent” at different organisation levels?Mobility/cross functional transfer levels within talent pool????10© HRPD Associates 2009
  • 29. Process DesignDesign PreparationCreate a Talent Management Panel from “engaged” senior management and ensure one senior manager with sufficient authority has overall responsibilityDevelop a lexicon of definitions and terms to use in relation to Talent ManagementClarify and agree how you will evaluate success, monitor and improve the processDecide on whether it is an Inclusive or Exclusive –all staff in talent pool or a subset of mission critical roles/ people -If Exclusive then how will you maintain morale of anybody excludedClarify how the process will be linked to current and future strategic directionAgree how it will be embedded into corporate culture – driven and supported from the topUse transparent, fair and equitable methods of assessment/evaluation to identify talentDevelop and explicit process and rationale to communicate the programme to all staffMake sure that any process (especially Exclusive approach) does not breach Employment lawConsider reviewing and deploying a specific software package for talent management and/or generate a talent audit/register to capture the level of your talentProcess Design11© HRPD Associates 2009
  • 30. Key Process (1)Define TalentDefining TalentClarify strategy to inform identification of mission critical roles in the futureWhether Inclusive or Exclusive start with small group, ideally senior managementDevelop competency models based on “superior” rather than acceptable performanceEnsure that performance evaluation processes are objective and there is cross organisation consistency in any applicationRecognise that much of “talent” may be unrecognised potentialConsider assessment methodologies including competency models and psychometrics to evaluate talentHow will critical / key role identification occur12© HRPD Associates 2009
  • 31. Key Process (2)IdentifyIdentifyDevelop a protocol and train line management in Talent IdentificationEnsure that identification and nurturing of talent is recognised as a key line management responsibilityGenerate a set of agree criteria by which Talent can be identifiedConduct a risk analysis eg where criticality is a function of egStrategic importanceSize of jobDifficulty and cost of replacementUnique skill sets, technical knowledgeHolding large network/client baseConduct informal or formal assessment of mission critical role holders or of potential talent pool groupsGenerate Talent database (see Talent Management Software)13© HRPD Associates
  • 32. Key Process (3a)Attract & RetainExternal - acquireUse staff as talent scouts to identify external potential talentSet up bounty bonus processes to recognise successful talent scoutingBe prepared to take on outstanding external talent even when there is no pressing immediate need to seedbed potential futureContinue to receive and process speculative applications, with key focus on potential talent identificationKeep register with permission of speculative applicants (data protection) Regularly contact high potential speculative applicants and keep them informed of possible employmentInvite speculative talent applicants in for tour of the organisation – show them you genuinely careFocus on improving on-boarding process from setting up meetings with key staff to having formal on-boarding coaching and mentoring processEstablish the real reason why on-boarding talent left previous role/was dissatisfied and look to ensure this doesn’t recur in your companyConduct in-depth discussion at monthly frequency with new talent to identify and address any concerns and seek feedback to improve on-boarding process14© HRPD Associates
  • 33. Key Process (3b)Attract & RetainAttract & RetainEven if you are not currently recruiting you need to future proof Create and promote a culture and organisation which external potential talent aspireActively promote your positive culture in the market eg through social networkingRecognise that climate/working conditions are a key elementEnsure high value (importance) attaches to TM throughout the organisationRecognise current staff as key ambassadorsEnsure total compensation packages are upper quartile relative to competitorsRecognise that you need to think about functional specialism as well as sectorEnsure assessment centres in corporate cultural and values fitEvaluate your organisation through staff surveys and use the feedback to actively improve areas of weakness egSunday Times key eight factors that define the best companies to work for in Britain.Leadership: how people feel about the head of the company and its most senior managers.Personal growth: to what extent people feel stretched by their job.My manager: people’s feelings towards their day-to-day managers.My company: feelings about the company people work for as opposed to the people they work with.My team: people’s feelings about their colleagues.Wellbeing: how people feel about stress, pressure and the balance between their work and home life.Giving something back: how much companies are thought to put back into society and the community.Fair deal: how happy staff are with their pay and benefits.15© HRPD Associates
  • 34. Top 10 Sunday Times Best Companies to work forhttp://business.timesonline.co.uk/tol/business/career_and_jobs/best_100_companies/best_100_tables/16© HRPD Associates
  • 35. Key Process (4)ManageManageHold regular Talent Panel reviews to monitor and report on progress of any identified talentGenerate formal career planning processes and succession planning for key talent roles - Identify and address gaps in potential successorsEnsure performance management becomes a genuine performance development and coaching opportunityRevue remuneration regularly to ensure that talent role holders remain well remunerated relative to potential sources of poachingRecognise and reward talent for outstanding performanceAssign a mentor/coach for each high talent role holderIdentify “wobbling” talent early and intervene before they leaveBuild relationships with Business Schools, Local Universities and Colleges17© HRPD Associates
  • 36. Key Process (5)Nurture & DevelopNurture & DevelopCreate an organisation climate that supports talent developmentMake sure the talent feels valued by the organisationEstablish specialised talent coaches available on requestEnsure that talent recognises their ownership of their developmentIdentify and address any recurring problems face by talent in development processRun Development workshops for the talent to identify strengths and areas for developmentBuild development around key target role talent competenciesEnable talent to develop using medium which best fits their needs and circumstancesEnsure development is seen as being valued by the organisationSet up development experiences for talent through shadowing and interim roles18© HRPD Associates
  • 37. Key Process (6)EvaluateEvaluateReview progress against success factors agreed at design stageUse a dashboard approach - assign a red, amber or green light flag for talent to enable quick identification of potential problems Check retention levels and monitor absence levels regularlyConduct employee satisfaction surveysExplore whether there is a positive correlation between Talent “ranking” and performanceReview how do participants feel about the process and use feedback to improveWhat is working well and what needs to improveEstablish and review benchmark performance against competitor organisations in terms of “employer of choice”19© HRPD Associates
  • 38. Coaching for Talent ManagementCoaching is about helping talented people to recognise and release their potentialCoaching is the central performance lever for all successful Sports ProfessionalsCoaching is core to most key aspects of Talent Management: Selection and On-boarding
  • 39. Helping line management to develop talent
  • 42. Identifying, recognising and releasing the Talent potential20© HRPD Associates
  • 43. Ten tipsTalent Management needs to be driven by, dovetail, align with and enable strategy Common, shared and understood definitions and purpose for the Talent Management Programme, including an agreed lexicon of termsThe process needs to be genuinely “bought into” and driven by the senior team and there should be a Talent Management Panel and a single individual with overall responsibility for the process – not a part-time roleCoaching is central to Talent Management and there should be a programme of coaching which identifies and deploys the best coaches to support the TM processIt may be supported by HR but needs to be seen as being owned by the organisation and not an HR driven initiativeIt is fundamental to recognise that there is much more talent untapped in the organisation than has been historically recognised and that a key feature is to identify and release that valueTM needs to be both formal and informal, embedded in the cultureLine management need to accept and actively support the processThere needs to be a clear and transparent system for tracking/monitoring the performance and development of talentAny abuse of the system or attempts to undermine it must be dealt with strongly 21© HRPD Associates
  • 44. Thanks, hope it’s been useful…Thanks for viewing this introductory slideshowWe have significant experience in the range of Talent Management processesWe are based in the UKPlease feel free to use the slides as long as you attribute the sourceContact us at HR Performance & Development Email: info@hrpd.co.uk Web: http://www.hrpd.co.uk22© HRPD Associates 2009