Talent Management Best Practices

Talent Management

the mantra-‘our people are our

greatest asset’

But what if –

that only some of your people are your greatest asset?

Could you be doing more with your high

performers?

Some questions you need to seek answers for… How big a role will people play in taking our organization

to the next level?

How much % of organizational success do you think is due to people?

Does our culture value performance? In what concrete ways?

Do we know what our high performers think? Do they have a ‘seat at the table’?

How much time does our organization spend on increasing the impact high performers can have?

the challenges

72% of companies predict they’ll have an increasing number of leadership vacancies over the next 3-5 years

76% of those same companies are “less than confident” in their abilities to adequately staff/grow talent for these positions

Source: Gall UP Study — Global.

Difficulty finding the right peopleand keeping the people you need

Employee SegmentProblems Attracting

Problems Retaining

Critical skill/experience employees 72% 56%

High potential employees 60% 55%

Top-performing employees 59% 50%

All employees 31% 25%

Source: Towers Watson 2012-2013 Global Talent Management and Rewards Study — Global.

sustainable engagement level of the global workforce

Source: Towers Watson 2012 Global Workforce Study — Global.

other talent realities

Structural mismatches

Skill gaps

Unsustainability

Leadership vacuum

How to respond

Grow and develop

Hire more from outside

Retain key people

Raise engagement

Improve performance

Who is responsible to ensure you have the right people to achieve business objectives?

Conventional Orgs say

HR is responsible for people management We provide good pay and benefits Recruiting is like purchasing Development happens in training

programs We treat everyone the same

Progressive Orgs

o All managers are accountable for strengthening their talent pools

o We shape our workplace, jobs, and strategy to appeal to talented people

o Recruiting is marketingo We fuel development through stretch jobs,

mentoring and coachingo We affirm our people, but invest differently

for different players

Retention:What keeps employees happy?

Retention Drivers1. Career growth, learning and development2. Exciting work and challenge

3. Meaningful work, making a difference and a contribution

4. Great people

5. Being part of a team

6. Good boss

7. Recognition for work well done

8. Fun on the job

9. Autonomy, sense of control over work

10. Flexibility – for example, in work hours and dress code

11. Fair pay and benefits

12. Inspiring leadership

13. Pride in organization, its mission and quality of product

14. Great work environment

15. Location

Employee Engagement

Research shows positive correlation of engagement scores with:Employee attraction and retention

Engagement scores also have a positive correlation with:Customer satisfactionRevenue growth and shareholder

returnsEmployee productivityEmployee attendance

Develop the Talent Management System

Talent Management & Planning

Helps you understand who to focus on

Talent management is a process of ensuring there are leaders and talent that can implement the organizational vision

It requires the systematic identification of those individuals who have the potential to turn the vision of the organization into reality

Talent Management

A key strategic initiativeCannot be done in isolation to other

cultural and people oriented initiatives in the organization

More than just “putting names in boxes

Talent Management

Focus on individual development strategically aligned to future vision

Leadership development can ensure that the potential identified through succession process is realized

Result is long-term leadership sustainability through attraction, retention and development of talent

Wishing you the very best….Thank You

“There are no recipes or formulae, no checklists or advice that describe “reality”. There is only what we create through our engagement with others and with events.”