This document summarizes a webinar on the transforming world of talent management. The webinar covered topics such as the current state of the "war for talent", talent management priorities, the emergence of integrated talent suites, future service delivery models, and creating a business case for talent management investments. Speakers from Knowledge Infusion discussed their perspective on these issues and how to develop a talent management strategy. Attendees could participate in polls and ask questions during the webinar.
Did Paul Haggis Ever Win an Oscar for Best Filmmaker
The Transforming World of Talent Management
1. The Transforming World of Talent Management You can listen to today’s webinar using your computer’s speakers or you may dial into the teleconference. If you would like to join the teleconference, please dial 1.866.469.3239 and enter access code: #. You will be on music hold until the seminar begins. #TMwebinar
2. The Transforming World of Talent Management Speakers:Jason Corsello, Vice President of Corporate Strategy & DevelopmentKnowledge Infusion Scott Schmidt Director of Advisory ServicesKnowledge Infusion's KI OnDemand Service Moderator: Mike Prokopeak, Vice President, Editorial Director Talent Management Magazine #TMwebinar
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4. Click on the Q&A icon on your floating toolbar in the bottom right corner.
5. Type in your question in the space at the bottom.
7. Tools You Can Use Polling Polling question will appear in the “Polling” panel. Select your response and click on “Submit.” #TMwebinar
8. Frequently Asked Questions 1. Will I receive a copy of the slides after the webinar? YES 2. Will I receive a copy of the webinar recording? YES Please allow up to 2 business days to receive these materials. #TMwebinar
9. The Transforming World of Talent Management Mike Prokopeak, Vice President, Editorial Director Talent Management Magazine #TMwebinar
10. The Transforming World of Talent Management Jason Corsello, Vice President of Corporate Strategy & DevelopmentKnowledge Infusion Scott SchmidtDirector of Advisory ServicesKnowledge Infusion's KI OnDemand Service #TMwebinar
11. The Transforming World of Talent Management Jason Corsello & Scott Schmidt Knowledge Infusion February 15, 2011
12. About Knowledge Infusion Knowledge Leader in human capital management, talent management & enterprise collaboration consulting and advisory and services Named to Inc. 5000 List Headquartered in Minneapolis, Minnesota with offices throughout US Global customers including Dow Jones, Franklin Templeton Investments, MetLife, The World Bank, Disney, Starbucks, Four Seasons Hotels Innovative client engagement models with KI Consulting & KI OnDemand Passion Talent Partnership Celebration Trust Knowledge Infusion Proprietary and Confidential, Copyright 2011 9
13. Agenda The State of the “War for Talent” Today’s Talent Management Priorities The Emergence of the Integrated Talent Suite Service Delivery Models for the Future Creating the “Ask” Knowledge Infusion Proprietary and Confidential, Copyright 2011 10
14. Is There Still a “War for Talent”? Companies aren’t hiring Knowledge Infusion Proprietary and Confidential, Copyright 2011 11
15. Today’s Reality of the “War on Talent” Yesterday Tomorrow Conservative hiring amongst large companies Shortage of qualified workers Inability to know what “talent success” looks like internally Selective hiring based on new roles and jobs Shortage of highly skilled workers Challenged of identifying internal or external “talent success” Knowledge Infusion Proprietary and Confidential, Copyright 2011 12
16. Business Challenges are Diverse Compliance Economic Recovery Organizational Change HR Transformation Knowledge Infusion Proprietary and Confidential, Copyright 2011 13
17. Agenda The State of the “War for Talent” Today’s Talent Management Priorities The Emergence of the Integrated Talent Suite Service Delivery Models for the Future Creating the “Ask” Knowledge Infusion Proprietary and Confidential, Copyright 2011 14
18. Talent Management Priorities Next Generation Talent Management Addressing “Global” Rethinking the Technology Foundation Creating a Lasting Talent Strategy Knowledge Infusion Proprietary and Confidential, Copyright 2011 15
19. Next Generation Talent Management? Knowledge Infusion Proprietary and Confidential, Copyright 2011 16
20. Next Generation Talent Management Going from Automation… To Intelligence… Knowledge Infusion Proprietary and Confidential, Copyright 2011 17
21. Most Companies Unprepared to Make Timely and Accurate Workforce Decisions Does your company currently have the necessary human capital data to make timely and accurate workforce decisions? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 18 Knowledge Infusion Proprietary and Confidential, Copyright 2011
22. HR Value Curve & Transformation HR’s future focus and business strategy will impact the technology roadmap and it’s direction. Effectiveness Strategic Efficiency Tactical HR transforms into a strategic asset when it integrates into the fabric of the organization, and focuses on organizational performance through talent effectiveness. 19 Knowledge Infusion Proprietary and Confidential, Copyright 2011
23. The Next Steps Beyond Automation Increased focus on outputs and measures Initiating workforce planning Creating global standards with local flexibility Eliminating complexity & creating simple, consistent & ongoing processes Extending investments leveraging platforms and “edge technologies” Leveraging enterprise collaboration (ie. social) Knowledge Infusion Proprietary and Confidential, Copyright 2011 20
24. Integrated Talent Management Priorities Vary Widely Which areas of integrated talent management are currently most important to your organization? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 21 Knowledge Infusion Proprietary and Confidential, Copyright 2011
25. Addressing Globalization Not just language and currency Incorporating emerging markets Demand to find/know/grow/move global talent Creating flexibility to support local needs Emergence of “COEs” to build standard global processes 22 Knowledge Infusion Proprietary and Confidential, Copyright 2011
26. Rethinking the Technology Foundation Digital HR Framework Single User Experience: Knowledgebase, Collaboration, Analytics, Transactions Information, Transactions, Workflow Benefits, Pay, Personal Data, Promotions, Transfers, Approvals, Notifications HR Service Delivery Case Management, Knowledgebase Core HR Foundation Organization Structure, Job Structure, Reporting Relationships, Administration, Benefits Workforce Mgmt* Time & Attendance, Absence Mgmt, Payroll Strategic Talent Mgmt Applications Workforce Planning, Competency Mgmt, Talent Acquisition, Learning Mgmt, Performance Mgmt, Compensation, Succession & Career Planning Service Delivery FIN Talent Intelligence Data Warehouse & Analytics: Workforce, Operational, Talent Mgmt, Biz Intelligence Foundation / Administration CRM Strategic / Talent Mgmt Sales *Owned by Finance Today 23 Knowledge Infusion Proprietary and Confidential, Copyright 2011
27. Unified Data Surpasses Usability and Key Factor for Talent Management What is the most important factor when selecting a talent management application? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 24 Knowledge Infusion Proprietary and Confidential, Copyright 2011
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29. Focus on integration both across the HR stack and up to the user interface level and down to the business intelligence level
32. Fewer solutions will be leveraged to fulfill overall HR portfolio need from data standpoint
33. Realization that HR is ripe for process integration across its function more than integration across the enterprise25 Knowledge Infusion Proprietary and Confidential, Copyright 2011
34. Most Companies Continue to Lack a Talent Management Strategy Does your company have a clearly articulated strategy for talent management? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 26 Knowledge Infusion Proprietary and Confidential, Copyright 2011
52. Poll #1 What best describes the state of your talent management strategy… Well defined and currently being executed In process of being defined In process of being updated We don’t have a talent management strategy Knowledge Infusion Proprietary and Confidential, Copyright 2011 28
53. Agenda The State of the “War for Talent” Today’s Talent Management Priorities The Emergence of the Integrated Talent Suite Service Delivery Models for the Future Creating the “Ask” Knowledge Infusion Proprietary and Confidential, Copyright 2011 29
54. HCM Technology Maturity Model Learning Management Recruiting Management Performance Management Compensation Management HRMS Succession Management Employee Profile Integrated Talent Management Career Management Social Collaboration Workforce Planning “Edge Technologies” 30 Knowledge Infusion Proprietary and Confidential, Copyright 2011
55. Talent Management Suites Beginning to Take Root Have your purchased more than one talent management module (recruitment, performance, compensation, learning, etc) from a single vendor? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 31 Knowledge Infusion Proprietary and Confidential, Copyright 2011
56. Demand for Integrated Talent Management Suites Growing Which statement best describes your talent management approach? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 32 Knowledge Infusion Proprietary and Confidential, Copyright 2011
57. Poll #2 What are your thoughts about an integrated talent suite? We are currently deploying a talent suite We intend to deploy a talent suite We have no desire to deploy a talent suite We are undecided on a talent suite Knowledge Infusion Proprietary and Confidential, Copyright 2011 33
58. Agenda The State of the “War for Talent” Today’s Talent Management Priorities The Emergence of the Integrated Talent Suite Service Delivery Models for the Future Creating the “Ask” Knowledge Infusion Proprietary and Confidential, Copyright 2011 34
59. No Real Preference for Technology Service Delivery Models What is your preferred delivery model for HR technology investments? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 35 Knowledge Infusion Proprietary and Confidential, Copyright 2011
86. HR BP will work in conjunction with Bus. Leaders to drive strategic change throughout the organizationFuture Transaction Volume Supported Target: 65% Target: 20% Target: 10% Target: 5% *Largest opportunity for reduction and savings 37 Knowledge Infusion Proprietary and Confidential, Copyright 2011
87. Agenda The State of the “War for Talent” Today’s Talent Management Priorities The Emergence of the Integrated Talent Suite Service Delivery Models for the Future Creating the “Ask” Knowledge Infusion Proprietary and Confidential, Copyright 2011 38
89. Funding the Biggest Challenge Without a Strong Business Case The biggest barriers for talent management software adoption in your organization… Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 40 Knowledge Infusion Proprietary and Confidential, Copyright 2011
90. Employee Engagement and Retention Key to Talent Management Initiatives What do you hope to accomplish by implementing talent management software? Select all that apply. Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 41 Knowledge Infusion Proprietary and Confidential, Copyright 2011
108. Hard ROI Difficult to Support for Talent Management Which best describes your business case for talent management? Source: 2010 Knowledge Infusion & HR Executive Talent Management Survey n = 250 43 Knowledge Infusion Proprietary and Confidential, Copyright 2011
109. Rationalizing Talent Management Investment Create the vision and by clear about “the why” Get the “business to build the business case Define what success looks like Be realistic about the time & investment Get the “business” to sell the “business” case Knowledge Infusion Proprietary and Confidential, Copyright 2011 44
110. Transforming Talent Management Does Your Talent Strategy Look Like This… When It Can Look Like This! Knowledge Infusion Proprietary and Confidential, Copyright 2011 45
111. For More Information Scott Schmidt scott.schmidt@knowledgeinfusion.com Jason Corsello jason.corsello@knowledgeinfusion.com Visit KI OnDemand www.kiondemand.com Knowledge Infusion Proprietary and Confidential, Copyright 2011 46
112. Join Our Next TM Webinar Tuesday, Feb. 22, 2011 Empowering the Middle and Creating Workforce Readiness TM Webinars start at 2 p.m. Eastern / 11 a.m. Pacific Register for upcoming TM Webinars at www.talentmgt.com/events Join the Talent Management magazine Networkhttp://network.talentmgt.com/ #TMwebinar
Editor's Notes
integrated talentLearning/succession/development Corporate America Talent Reorg Internal talent pipelines/mobility Compensation-driven exudos Millenials – work/life balance Automated talent amangement – now what Tie together with business objective Talent automation vs. talent managementRationalization of decisions (cost, value,
We will not get to 6% unemployment for another 10 years
This information is a little depressing. 40% of companies don’t believe they have the necessary human capital data to help make decisions. I’d also say that if you don’t know if you have the data then you probably don’t, so the overall number is more than 50%
Growing recognition that talent automation does not improve the management of talentPerformance paradigm evolution from cycle- to event-based Talent mobility moves from philosophy and ad hoc approach to policy and processIncreased focus on developing, incenting and measuring and rewarding talent “managers”Talent segmentation: talent pools, talent pipelines, critical roles, key talent eclipse traditional HR process in importanceThe year social recruiting gets organized
It goes in line with the lack of an overall talent management strategy, but there is no clear leader for what modules of talent management are most important, or what companies will do with them.
HSRise of emerging markets impacting labor marketCHRO’s driving COE’s to build global chapels vs. local cathedrals
It is encouraging that the respondent’s are now looking beyond ease of use and placing more importance on integrating with business processes. A little surprising that Vendor Stability dropped from last year, but we see that as another sign that buyers don’t have a good understanding of this market.
JA
Majority of companies still do not have a clearly articulated strategy for talent management.
While the technology is important, to consumers right now it is more of an afterthought. This suggests that the vendor emphasis on “SaaS” isn’t as impactful as they believe. Customers just want something that will work!
Unsurprisingly the biggest barrier for talent management is justifying the funding.
But consumers are looking to technology for the right reason. No longer about just automating the HR processes, you can tell that the thinking has evolved and now there is more focus on hard numbers
And companies are getting better at justifying their expenses by creating hard metrics and showing ROI.