1. JUNE 2013 The Online Executive News for Corporate Leaders
In Tune with the Local
Connected to the World
73officesin46countries
The business world is more dynamic today than ever before with an accelerating pace of new technologies, increasing
globalization of markets and increasingly commonplace mergers, acquisitions and divestitures. In this tumultuous
environment, organizations must continually renew their capability to achieve competitive advantage. However, it is
challenging to find the talent needed to compete in this dynamic business environment.
The availability of educated, working-age talent is shrinking in many of the world’s labor markets (Zolli, 2007).
Multinational companies are moving work to developing lower-cost countries, only to find the talent wars and wages
subsequently escalating there. Skilled leaders with the capabilities to enter new markets, create new business models and
innovate new technologies, are highly sought after. Consequently the demand for talent is outstripping the supply. As
a result, top performers in key talent pools typically have multiple employment opportunities at any point in time.
This set of complex, changing business and talent realities creates the imperative for companies to focus on talent in a
strategic, systemic and customized manner. Getting someone interested in your organization is the first step in attracting
and retaining top talent. In recent years, the phrase “the war for talent”has been used most often in conversations
about the challenges of retaining talent.You have to overcome the toughest challenge, the one of acquiring talent. With
retention, you have “familiarity” on your side. In acquisitions, the unknown can be frightening. There are six steps to
creating and communicating a
compelling argument that top
talent cannot ignore: (Silzer,
Dowell 2010).
Enjoy your reading,
Nancy Mathioudaki
Partner & Global FMCG sector leader
Detailing the
employment brand
into a talent brand
and a leadership
brand that clearly
articulate the
caliber of talent
and leaderships
working for your
organization.
4Capturing the
employment
value proposition
in a memorable
employment
brand that states
simply what
makes your
company a great
choice.
3Creating a
compelling
employment
value proposition
that clearly
articulates what
is different about
your organization
versus other
organizations.
2 Identifying
the talent
acquisition
strategy that
best supports
your business
strategy and
will result in
meeting your
talent needs.
1
Measuring
your success.
Determining
the most productive
channels to the talent
you want to see.
Manythankstoallthecontributorsofthisissuefortheirinsightsandtoallsurveyrespondentsfortheirtime…
Contents
p1 Editorial
p2,3 First Talent
Management Survey
p4 Building a great culture
and creating the conditions
for people to succeed are
at the heart of our value
“Caring for our People”
p5 Hiring for fit and
developing for skills
p6,7 Is talent management
within your company seen
as a key organizational
objective which drives and
enables high performance?
p8,9 Talent identification:
a Corporate Culture or a
Management System
p10 Which are the Talent
Management success factors?
p11 Is strategy-driven Talent
Management a leadership
imperative?
p11 Is talent Natural or
Developed?
p12 Which are the Talent
Management success factors?
p13 Is Talent difficult to find
nowadays?
p13 Is talent management
within your company seen as a key
organizational objective which drives
and enables high performance?
p14 Matching Executive Talent to
Business Strategy
p15 The near future will bring more
qualified candidates
p16 Quality of External Talent Leads to
an Increased Focus on the Development of
Internal Talent

2. Facing the unprecedented changes in the financial and corporate environment as well as the increasing pace of change in technology,
organizations and their leaders are under tremendous pressure to get the talent equation right.
Within this context we are proud to present the thorough analysis and results of an online survey in which HR Directors, HR Managers and
Senior HR profiles across industries participated.
In the survey 106 Executives participated; the age of the majority of respondents ranges from 40 to 49. Of the 106 participants, 78% come from
Multinational companies and 22% from Greek companies. Regarding their market sector, 27% come from Consumer products and Services
companies, 16.9% from Retail industry, 12% from Industrial companies and 12% from Pharmaceutical & Financial Services companies.
First Talent Management Survey
by Stanton Chase Athens
InMarchandApril2013StantonChaseAthensthroughasurveytoSeniorHRExecutivesshedlightononeoftheimportant
issuesconcerningallorganizations:the“Strategy-DrivenTalentManagement”.Talentmanagementisarguablyoneofthemost
importanttopicareasinorganizationstoday.Talentisbecomingrecognizedasacorecompetitiveassetinbusinessorganizations
andasthecurrencyofbusiness.
35.85%
33.02%
35.85%
48.11%
59.43%
48.11%
36.79%
12.26%
8.49%
40.57%
33.02%
17.92%
0%
7.55%
51.89%
30.19%
10.38%
0%
38
35
38
51
63
51
39
13
9
43
35
19
0
843
55
32
11
0
Recruitment
Retention
Professional
development
Leadership
High potential
development
Performance
mamagement
Feedback and
measurement
Workforce planning
Strongly Disagree
Disagree
Agree
Strongly Agree
I don’t know
Strongly Disagree
Disagree
Agree
Strongly Agree
I don’t know
Responses
Responses
Answer Choices
Answer Choices
The vast majority of participants (54.72%)
believe that nowadays Strategy-Driven
Talent Management is a leadership
imperative. From a list of components
of talent management, the participants
pointed out the High potential
development as the most important
component (59.43%), Leadership
ranks as the next key component
(48.11%) followed by Performance
Management (48.11%).
0% 20% 40% 60% 80% 100%
0% 20% 40% 60% 80% 100%
0% 20% 40% 60% 80% 100%
Is talent difficult to retain in time of crisis?
Answered: 106 Skipped: 0
Is talent difficult to find in corporations during a period of crisis?
Answered: 106 Skipped: 0
Which are the key components of talent management? Tick the 3 most important
Answered: 106 Skipped: 0
35.85%
33.02%
35.85%
48.11%
59.43%
48.11%
36.79%
12.26%
Regarding their personal insight about
how easy or difficult it is to find a talent in
a period of crisis, there is a strong debate.
51% of the participants believe
that it is difficult to find it and
49% that it is easy. The same debate
also appears in the part of discussion for
retention of the talent in a period of crisis.
41% of the participants agree that it is
difficult to retain talent and 59% disagree.

3. Senior Executives pointed out that the most critical challenges their organization will face over the next years will be cost pressure (62%) and the insufficient
leadership talent (44%). Also the challenge of the increased competition is ranking high on the list (39%).The majority of the participants (60%) considered
as a critical challenge the fact that they have to meet the changing expectation of the next generation employees as well as the business growth
expectations (55%).
40.79%
31
19.54%
17
31.25%
25
55.41%
41
2.06%
2
31.71%
26
7.87%
7
15%
12
29.87%
23
19.18%
14
39.47%
30
41.38%
36
42.50%
34
21.62%
16
36.08%
35
37.80%
31
55.06%
49
41.25%
33
45.45%
35
60.27%
44
19.74%
15
39.08%
34
26.25%
21
22.97%
17
61.86%
60
30.49%
25
37.08%
33
43.75%
35
24.68%
19
20.55%
15
76
87
80
74
97
82
89
80
77
73
Does the work of HR reinforce your talent strategy?
Answered: 106 Skipped: 0
0% 20% 40% 60% 80% 100%
Less
critical
Critical
Most
critical
TotalLess critical Critical Most critical
Changes in technology
Increased competition
Expansion into new
markets
Globalization
Cost pressures
Regulatory environment
Business growth
expectations
Insufficient leadership
talent
Insufficient talent at
other levels
Meeting changing
expectations of next
generation employees
1.89%
6.60%
50%
41.51%
0%
2
7
53
44
0
Strongly Disagree
Disagree
Agree
Strongly Agree
I don’t know
ResponsesAnswer ChoicesThe majority of the participants agree
that HR plays an important role in the
reinforcement of talent management.
69% of the participants believe that
primarily the Senior Managers have
a strong decision in the company’s
approach to Talent Management.
Next in ranking -but with a significant
percentage of 52%- comes the HR
function. Organizations are beginning
to understand the strategic value of talent
and the impact that strong talent can have
on financial outcomes.This represents a
major shift in how business executives
view the value of Human Resources.
0% 20% 40% 60% 80% 100%
Does the work of HR reinforce your talent strategy?
Answered: 106 Skipped: 0
68.87%
9.43%
9.43%
51.89%
24.53%
73
10
10
55
26
Senior Managers
Middle Managers
Front line Managers
HR function
All the above
0% 20% 40% 60% 80% 100%
Which levels of seniority have a strong decision in the company’s
approach to talent management?
Answered: 106 Skipped: 0
3ExecutiveNewswire 06/13

4. Dimitris
Bourandas
Professor of Human
Resources Management
Director of the Executive
MBA & Co-Director of
Msc in Human Resources
Management
THE ATHENS UNIVERSITY
OF ECONOMICS AND
BUSINESS
Experience: 1992-Today:
Consultant and Trainer for
many private and public
firms (National Bank
of Greece, Tasty Foods,
PEPSICO, Nestlé, Unilever,
SAP, Diageo, Coca-Cola,
Vodafone, Carrefour,
Marks & Spencer, Citibank,
BAT, Schneider Electric,
Jansen, IKEA, L’ Oréal,
Bayer, Henkel, etc.)
It is beyond doubt that human capital, as a function of intellectual, emotional and social capital, is
the most critical strategic resource for every organization.
Especially, today, when the modern organizational conditions are characterized by constant change,
speed, uncertainty, complexity and intense competition, the creative ideas, the initiatives, the
motivation, the commitment, the passion of people both as individuals and as team members are
thought of as the main factors that determine the efficiency, the effectiveness, the competitive
advantage and the sustaining success of an organisation.
As follows, the selection, retention, development, promotion and rewarding of people are
considered as important policy issues and systems for every organization, most commonly
addressed through the term talentmanagement.
Research shows that the basis of effective“talent management”is to identify components of the
“talent”for any organization. The term“talent”literally signifies those people who stand out due to
their unique abilities. But this definition falls short when it comes to ensure efficiency, effectiveness
and sustaining business success. The human capital requires“The right people”.“The professional,
the managerial and the leadership”, ”talent”or“skills”are only one component of the right people.
In fact, experience validated by research data indicates that apart from that, we must take into
account two equally important components:
First, an important element of the right people is self motivation, the drive, and the grit, i.e., the
passion, focus and commitment to achieve difficult goals and exceptional performance. Jim Collins
in his best seller book“Good to Great”argues that if companies have people who need motivation,
then they employ the wrong people. The right people are those who are self motivated. Besides, the
studies on creative and innovative thinking agree that the critical success factor is motivation and
not the brain intelligence.
The second characteristic of therightmancan be expressed
by the quote“hiring for fit and developing for skills”.
In other words, the right man is the one with the
characteristics and values that match the culture,
vision and strategies of the organization. Indeed,
the task of changing the character is very difficult.
However, when there is the will at the right
character, it becomes easy to develop the
necessary skills and competencies. Besides,
nowadays, finding people with high-level
education and skills is far from scarce.
In a nutshell, the challenge for“talent
management”is to make sure that
“the right people”display the three
aforementioned characteristics
which are considered essential
for the development of human
capital.
Hiring for fit and
developing for skills
Therightpeople
GRIT
CHARACTER SKILLS

5. Coca-Cola Tria Epsilon was founded in 1969 in Greece. Today, it is the only Greek Company in the Food and Sector Industry that
operates in 4 production units and in 4 different prefectures across Greece. The company employs approximately 2,000 people,
while it generates 42,000 job positions either directly or indirectly.
Talent management enables high performance
Building a great culture and creating the conditions for people to succeed personally and professionally are at the heart of
our value“Caring for our People”. Creating the right culture and being a Great Place to work allows us to cope with challenging
market conditions and also meet and exceed the expectations of customers, consumers, stakeholders and society, at large.
Talent management is essential in building a strong and successful organization -right people in the right positions- and
necessary for achieving our business strategy. HR works together with Line Managers to develop reliable and consistent
internal sources of talent -talent pools- that fuel the organization with our future leaders.
To this spirit, Coca-Cola Tria Epsilon has designed the“Graduate Trainee Program”. Since 1990, our company hires young
graduates with limited work experience. The program offers Graduates opportunities to work in several projects, refine their
skills and drive their leadership capability together with fantastic exposure and support from our senior leaders. This is a great
opportunity for young people to grow their long term career.
Our people are core to our success
In Coca-Cola Tria Epsilon, we strongly believe that our business success depends every day on our employees. The pride,
passion and energy of our people are what make our company special alongside with a strong set of values -Authenticity,
Excellence, Learning, Caring for our people, Performing as one, Winning with Customers- that underpins everything we do.
Our winning performance culture is driven by our commitment to developing and supporting people in their professional
and personal growth.
“Caring for our People”
Yiolanda Kourasmenaki
Country HR Director
Coca-Cola Tria Epsilon
Building a great
culture and
creating the
conditions
for people to
succeed are at
the heart of our
value
5ExecutiveNewswire 06/13

6. Large format
recession has been a
growing international trend
in corporate sector over the
last years, so LG Electronics,
during the recession, is
focusing i) to identify the real
key employees and to intact
them in the organization
ii) to identify the real top
potentials and to strengthen
their development program
iii) to identify the real key
employees and to keep them in
the organization. Key employees
with high performance help the
organization in minimizing additional
costs and accomplish their tasks successfully.
Education costs have beed reduced
dramatically, however LGE Learning Centers
have strengthened their existence, offering
specialized training sessions and introducing new
courses.The landscape at the other side of this
recession will look very different and the workforce
will need to look different. High potentials can also
consist the post-recession
generation workforce which
will be the engine for the
growth in the future.
In BP we consider
talent manage-
ment to be a key factor of the company’s
growth and prosperity, enabling us to
develop and sustain a strong pipeline of leaders
across the globe to ensure ongoing success.
In order to do so we have carefully designed
procedures such as Performance and Behavioral
Reviews with transparent criteria, as well as
Coaching andTraining -all under a D&I
lens- that unify talent management by using
common language and tools.The CAPs
Program (Career Acceleration Program)
provides a consistent and robust framework
in order to assess and develop individuals with
the greatest potential to progress to senior
roles in the organization, while Succession
planning identifies qualified future candidates
for defined roles or groups of roles.
All these enable us to identify, assess and take
action to maximize people’s potential and manage
key talent pools and pipelines, also resulting in a
globally consistent approach to talent management
while ensuring meritocracy.
After all, our talented people are the future of our company.
Effective execution of talent development directly contributes to
increased organizational effectiveness and profitability, leading up
to as much as 15% improvement in total shareholder return (Corporate
Leadership Council, 2012).
At Pfizer, we believe our organizational and talent capabilities are
strategic assets requiring executive and business focus. These are two
related terms often used interchangeably, however they have different
definitions.
We consider Talent Management to be a vital business process in which
managers and their leadership teams discuss colleagues based on
their broader career trajectory and capacity for additional business
responsibilities.
Talent Management focuses on the role of leaders in developing
the workforce to assume future roles and assignments
required to meet Pfizer’s strategic business needs and
organizational imperatives. While talent management
includes key developmental processes like career planning
and development planning, a key component of talent
management is the talent planning process which engages
Pfizer’s Fourth Imperative: Creating an Ownership Culture.
Talent Planning is a Pfizer process in which managers and
their leadership team assess colleague potential, calibrate
assessment results, and create and execute development
plans in order to build organizational capability.
At Pfizer, we considerTalent
Planning to be a vital part of
Talent Management.
Filio Makri
Country HR
Manager &
Regional Partner
Lubricants E&A BP
Oil Hellenic
Retail is essentially a people business and our success rests
predominantly upon the quality of our people.
In this context, the role of effective talent management for the
implementation of our strategy turns out to be quite important.
We approachTalent Management as an integrated process which is
based on three main pillars: Source, Build and Keep the talent.
The downturn of the economy and the consequent crisis in the
marketplace increase the number of high potential professionals who
can be attracted by AB but, beyond that, we strongly support the
development of a talent management culture within the Organization
by incentivizing our leaders to identify and develop talent in their teams.
On the other hand, we exploit all the resources we have, to reinforce the
acceleration of talent development. Apart from the design and delivery
of the talent development programs for employees and executives, we
focus on involving our talents in interdepartmental assignments and
place them as quickly as possible in management roles.
In conclusion, adapting in the complexity and the widespread changes
of the organizational environment means that
we have to create and maintain alignment
between ourTalent Management Strategy and
Business Planning, so as to help our talents to
be transformed from individual performers
to enterprise contributors, creating a high
performance organization.
Dimitris Artikopoulos
VP HR Organizational Development
AB VASSILOPOULOS/DELHAIZE GROUP
Barbara Panagopoulou
HR Director - Heineken Athenian Brewery
Talent management, while was once solely attached to
recruitment, is nowadays an essential management practice
that covers a multitude of areas and practices that support high
performance.
In Athenian Brewery we approach talent management from a
strategy perspective rather than an isolated practice (embedded
with thorough processes of employee recruitment and selection,
self-assessments, 360o
reviews, development plans etc.). Talent
management for us is more than a process for documenting and delivering feedback.
When expanded beyond the basics, it becomes a powerful tool for helping employees to
further develop and achieve full potential. In doing so, employees increase their value and
help drive organizational success.
Hence, Athenian Brewery considers talent management as a long-term commitment and
an organizational objective or, in other words, a long term journey towards consistently
higher levels of performance efficiency in a constantly changing business environment.
Finally, having a strong talent management culture also determines how employees
rate their organization as a work place. If employees are positive about their organization’s
practices, they are more likely to have
confidence in the future of their
organization. The result is a workforce that is
more committed and engaged, determined
to outperform competition and ensure a
leading position in the market.
Irene Paganopoulou
HR Director
Pfizer Pharmaceuticals
which
drives and
enables high
performance?
One of the biggest risks that many
organizations face is to have
the right people in the right position that
will enable them create long-term
organizational success. Identifying,
developing and retaining the high
performing and high potential employees is essential for the
organization’s future growth. It is a never-ending course
of action that requires continuous effort.
To achieve success in business, the most important
thing is to recognize the talent, in all levels, that can
accompany the organization in achieving its goals.
Talent Management in organizations is not just
limited to attracting the best people but it
is a continuous process that also involves
sourcing, hiring, exploring the hidden
qualities, developing, retaining and
promoting them to meet the
organization’s requirements.
For Merck, talent management is crucial
in order to foster outstanding business
and organizational performance in
accordance with the Company’s
culture and values. For this reason,
certain processes & tools have been
developed in order to help us identify
the talents within our organization
and fit them at the right place.
Anastasios Tsoumanis
HR & GA Senior Manager
LG Electronics Hellas
Nowadays, that resources
are limited and cost effectiveness is more important than ever, having
talented people in your organization is a crucial factor. But just having talents is
not always enough, as talented people should be developed and motivated in
order to be productive and retained.
At hellas online, talent management is a key organizational objective. We assess
talents, trying to identify the desirable skills, using various evaluations, including
performance appraisals, 360ο
feedback and competency based interviews. In the
last couple of years, we have created a multilevel talent team, with members from
all company’s departments. Our focus is on the customer operations and telesales
teams, where mostly young and highly educated people who manage our customers,
seek new opportunities, through a promotion or a new position that
better matches their educational background and goals. In fact, most
of hellas online’s new position openings are covered internally.
Our objective regarding talent management is and continues to be
the empowerment, support and rewarding of our people, offering
them opportunities for internal development and training
through programs such as the Mini MBA, which ran for about
60 high performers and talented people. Even under difficult
circumstances, we strive to continue our growth as a company
and retain our talents.
Talent management is incorporated into the
DNA of our organization through processes
that enable identifying, developing and engaging
our talents.
Talent is identified through structured processes
that are embedded in our performance manage-
ment system and company culture. Operating
mechanisms, such as self-assessment, country
reviews and shared talent inventories, enable
us to recognize employees with rare skills,
expertise or with the potential to grow.
Talent is developed through business
driven development actions, linked
to succession planning for critical and leadership
roles.The gaps in experience and competencies, identified in
the succession profiles, are addressed by individual development
plans, proactive experiences, coaching and training that stimulate
continuous improvement of existing capabilities and ensure
readiness for future roles.
Talent is engaged through open communication, recognition,
reward, care, trust and respect.Talent engagement is crucial in
maximizing contribution and intent to stay, making employees
feel part of the organization and going above and beyond to
achieve their goals. Our engagement initiatives focus on key
individual motivators of employees, aligning maximum job
satisfaction to maximum job contribution.
Thus, through these integrated processes, high
performance is based on continuous growth and
motivation of our talents. Investment in our talent is
investment in our growth!
Miranda Chatziioannou
HR Manager MDX Eastern Europe
GE Healthcare
Eddy Gerekos
Human Resources Director
Hellas online
Is talent management
within your company
seen as a key
organizational objective
which
drives and
enables high
performance?
7ExecutiveNewswire 06/13
Aphrodite Siokou
Human Resources Manager
Merck Hellas

7. Dimitris Papanikitopoulos, President, Linkage Greece
Dimitris has been accredited by Linkage Inc. as a Professional Coach and he has consulted as a Personal Coach with more than
25 senior leaders in the Greek market from a variety of business sectors on topics as talent management, career planning,
leadership development, attitude change. He is certified in numerous Leadership and Team Assessment Tools, including
Leadership Assessment Instrument, Thomas & FACET Personality Tests, 360 Executive View. He has participated as a lecturer
and coordinator in more than 30 Conferences and has experience of more than 1,500 days of training. He is a member of the
Association of Chief Executive Officers (Ε.Α.Σ.Ε.) for the last 10 years. He is also the Secretary General of the Board of Directors
of the Greek Institute of Sales (Ι.Π.Ε.) and finally an Honorable Member of the Board of the Greek Institute of Customer Service
(Ε.Ι.Ε.Π.) for which he was the General Secretary for two years, a member of the Consulting Committee of the Hellenic Association
of Management Consulting Firms (Σ.Ε.Σ.Μ.Α.).
Dimitris has graduated from the University of Piraeus, Greece and
from London School of Economics, UK.
Management of the company taking into consideration all important aspects that draw the effectiveness & efficiency of an
employee, such as performance appraisals, competencies and leadership skills.
All these significant elements provide a very useful insight about both the performance and the potential of an employee,
which enables the company to identify their Talents. As the identification is only the first step of a Talent Management
System, the following steps need to focus on identifying and assessing the development needs of their Talents, through
a development center approach and the use of Business Simulations. After identifying their Talents, the Organizations
need to build their capabilities by providing them trainings and actively involve them in difficult and demanding projects.
Only by taking the responsibility of tough decisions and by joining Senior Team meetings the Talents will reach a higher
level of satisfaction which in turn will achieve the increase of their retention rates.
Organizations in our days have started to realize that the successful way to overcome
challenges and exploit opportunities is through their Talents, appreciating that these are the
most important and reliable asset of a company. It is our strong belief that today, more than
ever before, organizations need to focus on their people and demonstrate trust to their high
potential members. The concept of the“War of Talents”has been developed since the early
90’s, however it is now the time that companies really need to invest in it!
Take care of our
passionate champions?????????????????????????????????????
A
n effective Talent Management System is critical to the long-term success of any organization. It
will build sustainable competitive advantage for those organizations that take the time and effort to design
and implement the system in a consistent manner. The Talent Management System needs to be embedded in the
organization’s strategy and to serve effectively the organization’s goals.
Developing Talent is a long-term strategic goal, therefore the Talent Management System needs to be designed to meet
the future needs of the organization and not just those associated with its current success.
A systematic approach to Talent Management is based on four strategic considerations that are the success factors of
the system:
Nowadays, a significant number of organizations have
realized the need to work on their Talents and identify
the members of their staff that have the ability to
accelerate the organization during the crisis in order
to get prepared for the next day. The question that
lies among CEOs and HR professionals is“are Talents
easy to find nowadays”? The answer is“Yes, if you are
ready and willing to find them”. The identification of
talents is not a straight forward process and requires
the development of a well-structured and sound Talent
Management System that enables to identify the
Talents among high performers.
In Linkage, we work with leaders and leadership teams worldwide to build organizations that produce superior
results and with many companies that express their need to identify those Talents that have a“will to win”attitude and
deliver results at a very high level of quality. We usually call them the“Passionate Champions”and we focus our efforts in
identifying them for the critical positions of a company. This is accomplished in cooperation and full alignment with the
Thecorporateworldtodayisgoingthroughchallengingtimes.Thecompanies’resourcesarebecominglimitedand
themarketsaremorecautious.Thecompaniesarenowrealizingthatinordertosurviveandsucceed,theyneedtobe
inapositiontoidentifytheirTalentsanddevelopaneffectiveTalentManagementSystemthatattracts,developsand
retainshighpotentialmembersoftheorganization.Organizationsarenowclearlymandatedmoreintensivelythan
inthepast,tobeinnovativeandtoworkontheirTalents.
1. Needstobetiedtotherequirementsofthebusiness.
2. Plansareputinplaceoverthecourseofyears,
notmonths.
3. Requiresasolidthinkingandplanningahead
approach,ensuringthatthetargetoftheTalent
ManagementSystemisfuture-oriented.
4. Includesactivitiesthatrequireownershipbyand
activeparticipationofSeniorManagement.
Talent identification:
a Corporate Culture or
a Management System?
9ExecutiveNewswire 06/13

8. Talent Management begins as soon as
recruiters identify potential candidates
and continues throughout employees’
life cycle in the organization, including
the exit process.The ability to
effectively manage an integrated
talent management process is one
true competitive advantage of
organizations.Talent Management
goes beyond developing hi potentials/
top performers and identifying critical
roles.The real value of an effective
talent review process comes from
tangible actions across all functional
areas: search and selection, learning and
development, performance management,
promotion process, rewards, exit
management. Upon defining
a series of meaningful interventions throughout talent’s tenure in all above
areas, the next step is to execute in a consistent way.
It is important to emphasize more on“hows”than“whats”. Many times,
companies are developing great talent management plans, but they miss the
execution. For this reason, it is better to plan a handful of actions and commit
in making these happen, than list numerous ideas on talent management which
remain on paper. Finally, talent management is not HR’s job.The primary responsi-
bility falls in line managers. HR contribution is pivotal in setting up the rules of the
road, establishing the framework and ensuring consistency across the organization.
Then, it is up to the managers to drive the process further down in the organization.
At Citi, talent management is an ongoing process well embedded in the culture of the
organization.Talent reviews are conducted on a regular basis covering all geographies
going up to CEO level. Business’involvement is intensive and HR facilitation is performed
by using advanced tools supported by a technology infrastructure for talent, which is
integrated into the company’s core HRMS, increasing this way the efficiency of the process.
An important asset in optimizing productivity will always
be the organization’s top talent and its management.
Irrespective of the economic situation it is important
to remain competitive, by leveraging the benefits of
effectiveTalent Management.Talent Management helps
increase organizational efficiency and effectiveness and
has a proven strong link to financial returns of any private
sector organization.Talent Management is about:
1. Filling positions with the right candidates
2. Promoting high potentials
3. Developing staff to increase their
efficiency in their current role
4. Increasing performance and retaining
the best employees
This means that forTalent Management to be successful, an organization
should develop and implement methodological and well-thought processes
and tools in such areas as recruitment, compensation, performance
management, career planning and learning, in order to identify, develop
and retain talents, while simultaneously enhancing their performance.
Knowledge, experience, competencies and skills are the ingredients of
human capital that need to be supported by governance, sustained and
increased, in order for any organization to flourish.
The guiding principle must be to establish clear, quantifiable business goals
to be achieved throughTalent Management.These could include,
reducing personnel overheads or optimizing Comp. & Ben
structures; or they could be focused on increasing
productivity, by increasing the quality of new
hires or the availability of a well-structured
succession plan.
Organizations, in order to respond to the rapidly changing environment and the
enormous challenges they face, have realized that a strategic talent management
approach is a business imperative for sustaining a competitive position in today’s marketplace.
The efficiency and success of talent management depends on multiple factors.There are however
two key issues to be taken into consideration when implementing any relevant strategy:
Ability of HR Professionals to understand the business strategy and work in partnership with
Senior Management to stir the organization to the desired future state. HR with the appro-
priate infrastructure and systems should build processes that will offer business solutions
by defining organizational needs and then by identifying, developing and deploying
talents within the organization. All these processes should be aligned to the leader-
ship behaviors and skills that the company has defined as critical to succeed.
The importance of the function of Line Managers who have the most direct
impact on talents. Line Managers need to understand their personal
responsibility in fostering talents, enhancing diversity and creating a talent
culture throughout the organization.Their role in employee engagement,
one of the most important ingredients to improve performance and
multiply talents, is vital.
In conclusion, efficient talent
management is not just an HR process.
A holistic approach is required
where organizations understand the
strategic value of their talents and
each individual assumes their role
in creating and embedding a talent
mindset throughout the business.
Organizations succeed or fail because of their people and
the available strong talent. People with the talent to make the right
decisions, to think ahead and to operate successfully under today’s great
uncertainty are moving their organizations forward and directing them to
achieve business strategies.
Talent Management in leading organizations has been proved to be a business
strategy with direct financial impact.
First of all, talent strategies need to be driven by and aligned to the organisation’s
business strategy in order to obtain business goals and deliver desired outcomes.
They must fit to the business needs, the talent objectives
and the organization environment and culture.
Another fundamental factor for successful talent
management strategies is to be considered, by every
member of the organization and especially managers, as
a key priority and a core business process.
The challenge of attracting, developing and retaining
talent should no longer be seen as the sole domain of
the human resources function. Managers must accept
responsibility for developing and maintaining excellence
in people management.
Finally, talent management must be integrated into the
company’s standard business processes, such as budgeting, quality
control, etc. and be a continuous/seamless process of workforce
planning, employment branding, recruiting, orientation,
performance management, development, deployment and
retention of talented employees.
Spyros A. Raptakis
Human Resources Manager
ELPEDISON POWER
Ioanna Papakonstantinou
Business & Organizational Strategy Manager
EXCEL Maritime Ltd
Zetta Kotrotsou
HR Director Greece & Israel
Johnson & Johnson Medical Greece
Costas Tsalikis
Senior Vice President
Deputy HR Head - Citibank Greece
Which are
theTalent
Management
success factors?

9. Now that great performance is more essential
than ever, the question of what makes a
difference between an average performer and a
talent is again on the table.There are two main
schools of thought: the first one says that it is hard
work that makes all the difference.The other holds
nature responsible.
In my opinion, this is not an easy dilemma, and the answer is definitely not a
straightforward one. However, the evidence from scientific studies doesn’t seem
to favour the belief that top performers are determined by their inborn talents. In
fact, many successful people have quite average IQs. It seems that practice and
perseverance are more important than DNA.
What makes all the difference is something more than hard work. It is something that
researchers call“deliberate practice”. Deliberate practice is certainly hard, but it seems
to be working for those willing to engage in it. Geoff Colvin has identified some of its
characteristics: first of all, it is not random but it is specifically designed, ideally with
the support of a mentor or a coach. Furthermore, it has one specific goal: to improve
performance by stretching the individual beyond his/her current abilities.
In other words, by taking him/her to what Noel
Tichy calls“the learning zone”.The learning zone
is between the comfort and the panic zone and
it is the location where one can make progress.
Identifying the learning zone is not easy, but
staying continuously within it is even harder.The
organizations that seem to recognize this notion
as well as find ways to incorporate it in their
cultures seem to be the most successful ones.
In today’s very challenging and aggressive economic climate, having the right talent
throughout the organization is a critical source of competitive advantage. Better
talent is what will separate the winning companies from the rest. In Minerva SA Edible
Oils Enterprises, it is becoming a top priority to ensure that the employees who play a
critical role in the success of the company’s strategy are prepared for the present and
coming business challenges.
Talent Management in Minerva is a conscious and deliberate approach in order to attract,
develop and retain the employees that have the aptitude and abilities to meet current and future organizational
needs. Understanding employee aspirations, the process gives clarity to all talented people in our organization on
their career and personal growth opportunities, and therefore drives excellent performance.
The identification and continuous review of key roles, the succession planning, the personalized approach of high potential employees career planning, as well as the
mentoring program are just a few of the processes that ensure that Minerva has the necessary talent needed for achieving its strategy and objectives.
There are quite a few measures we use in order to validate talent management’s success.The most important are the recruitment cost for critical positions, as well as
the % of those covered internally, the number of managers that move to other roles in the group (global, regional etc.) and the retention rate in the talent pool.
Finding talented employees has always been challenging, but nowadays the challenges have intensified. Globalization, different opportunities, additional
requirements and demanding candidates have increased the difficulty to recruit and retain talented people. Companies should look for talent in every possible field
and hire talent at all levels -entry, mid and top. Once the right ingredients are in place, then through challenging job experiences, helpful coaching and mentoring,
the talent can also be developed and fortified.
Through my experiences gained in
working in a large organization,
participating in sports and raising
children, I have seen that natural talent
exists. It is an undeniable fact that
people may have a natural aptitude
in some areas. But this does not mean
success by default. The key issue is what
you do with your“gift of nature”. Natural
talent can give you a head start but will
not win you the race. Natural talent needs to be developed and
translated into an actual strength. Natural talent gives you the
potential, but you need to render that potential into success. And
how do you transform a natural talent into success? You need hard
work and passion for what you are doing. And how can exceptional
leaders ensure this happens? Inspire, Motivate and Engage!
Does this mean we forget about areas where one does not have a
natural talent? Quite the opposite. Natural talent only gives you an
easier beginning.What brings the desired result irrelevant of whether a
natural talent exists is continuous effort and focus. And how do leaders
ensure continuous effort? By rewarding and acknowledging the effort
every step of the way!
Panagiotis Kessoglou
Human Resource Director - MINERVA SA Edible Oils (member of PZ Cussons plc)
Menelaos Mossialos
Chief HR Officer - ING Life Greece
Liza Magiakou
Group HR Manager
M. J. MAILLIS GROUP
Is talent
Natural or
Developed?
11ExecutiveNewswire 06/13
Is strategy-driven
Talent Management
a leadership
imperative?

10. Over the last few years,
talent management
has become an area of ever increasing
importance in the corporate agenda.
The effectiveness of HR departments may
now be evaluated by their ability to drive and
facilitate talent development and retention. It is
essential that talent management is embedded in
the culture of an organization and an integral part
of succession planning process and organizational
development. A successful and meaningful talent
management approach depends on a number of factors.
It is crucial that senior leaders are active sponsors in this
process and invest time and effort in reviewing talent
development on a frequent basis. It is imperative that the
company’s definition of talent is crystal clear and common
knowledge across the organization. Moreover, the company
needs to have a solid talent identification and succession
planning and review process.The HR department’s role is critical
as it is the owner of this process. HR has a key role in engaging
senior leadership and line managers across the business,
ensuring a transparent process in talent identification, facilitating
and coordinating talent development activities in close
collaboration with line management and
safeguarding a succession planning
process. Nevertheless, the success of
talent management does not reside
solely on HR but is a corporate
responsibility driven by senior
leadership.
Mrs.Vasilia Moschona insights regarding theTalent Management
Definitely, strategic drivenTalent Management is a core competitive asset in business organizations that has a great impact on its financial results.There are always
talents to be found, no matter the social or economic situation or the technological phase we are in and regardless the gender or age group.There are talents
everywhere: in our schools, universities, social groups and companies.
History has shown that many talents did not come out necessarily from successful companies or specific universities. Of course the talents we need depend on our
business sector, the chosen strategy and what we intend to achieve.The challenge is“how we can allow these talents to flourish, to show and utilize their potential in our
companies”especially in an uncertain economic environment where the focus is more on how to avoid mistakes and less on how to create and develop.
So, which are the main processes to ensure that the necessary talents are available for each company’s business strategies? First of all, talent acquisition
starts with the right recruitment process. It`s critical to have in mind what skills and competencies we need in our companies for the future and not only
for the present needs of the different projects we run in the short term. Secondly, companies must have a performance appraisal system that is linked
with the competencies of the company, the business goals and can enable high performance. Continuous training, opportunities for new projects,
mentoring and coaching are also very powerful tools for talent management success. Moreover, Space, Communication andTime are theTalent
Management success factors.We have to offer space for the talents to deploy their capabilities.We need to allow them to learn, combine knowledge
and experiences, to think, dream and experiment.Talents need space to bring new ideas and to drive innovation through the organization.Through
communication, we need to make clean that talent management is a value in our companies and that we constantly support it through specific
mechanisms and practices that are concrete, clear and transparent.Talent Management is an ongoing process and therefor we need to invest time in
it.To conclude,Talent for me is a combination of a brilliant mind and a personality that allows the individual to innovate, create and cooperate with a
determination to achieve. So my answer to the question“is talent natural or developed?”, is both: natural in terms of intellectual capability but you can
develop the right competencies for the individual to support it.
Research has repeatedly
proven that high performing organizations
tend to integrate talent management components, more than low
performing organizations.
Talent management is the business strategy that provides superior workforce,
helps retain exceptional employees and ensures outstanding leaders.
It stems from the organization’s mission, vision, values and goals
and enables every employee to see where he or she fits within the
organization.This, in turn, makes it possible for crucial employees to feel
that they are part of something bigger than their current job.
SuccessfactorsofTalentManagementincluderobustactivitiesandworkprocesses,suchas:
Clear role descriptions that include skills, abilities and experience needed
from an employee.
An appropriate selection process that can select employees who, not only have a
superior potential, but fit the organization’s culture as well.
A performance development system with which requirements, accomplishment-
based performance standards and outcomes are clarified and measured by AND
the employee’s interests for career development are included.
Employee on-boarding and ongoing learning & development opportunities
that cater for both the employee’s and the organization’s needs.
Coaching, mentoring and feedback processes provided, so the employee feels guided,
supported and, hence, valued.
Compensation and recognition systems that reward people for their contributions. Research
reveals that employers of choice aim to pay above market for talented employees and have
an assortment financial and non monetary rewards in place.
Career development and advancement opportunities for employees within a system that
includes career paths, succession planning and on-the-job training opportunities.
Most common impediments to effective integrated talent management efforts include
conflicting priorities, limited resources, non-supportive corporate cultures, incompatible
organizational processes and senior leaders who are too political or undervalue integrated
talent management.
Research Supports that the following practices help eliminate barriers, increase chances for
success and multiply positive impact :
Talent Management is endorsed and actively supported by top management. Having
talent management KPIs as individual targets within their performance matrix helps
tremendously.
All relevant processes are part of a standardized annual (or half-year) talent review proce-
dure and are enhanced by an organizational culture that supports talent management.
A single functional owner is appointed as the champion of talent management internally
and facilitates implementation and consistency.
Connectivity and consistency among all performance and talent management activities.
Dimitris Ioannovich
Head of Human Resources
Greece & Balkans
Marks & Spencer
Perpinia Efharis
Vice President
Hellenic Institute of
Human Resources
Management
Which are
theTalent
Management
success factors?

11. Eurobank places emphasis on and reinforces its human resources competitive advantages in line with
the organization’s strategic goals.We strongly believe that our organization’s growth is linked to the de-
velopment of each employee. Moreover, the current financial crisis and its consequences have created the
need for an integrated approach towards human resources management, in order to enable our people
to cope with the adverse effects of the environment and the resulting increased complexity.
In order to enhance and strengthen our people capabilities, we have designed and established a Group
wide integrated, innovative and comprehensive Professional Development framework aiming at:
Developing a common leadership model across the senior management team, reinforcing a culture of high
performance and continuous improvement
Ensuring consistency and enhancing clarity and transparency regarding the career development and talent
management practices in our organization
Establishing a common Group-wide approach and practice for managing key resources through internal job
market and in-house implementation of talent management programs, establishing synergies and achieving
cost savings.
The Eurobank Professional Development framework includes development and talent management programs
addressed to all hierarchical levels and is based on the design and implementation of customized tools/
methodologies, such as 360° feedback, coaching, mentoring and an intranet site, specifically dedicated to professional development. A
pioneering approach for talent management programs is the establishment of Development Committees across General Divisions, with the
participation of each Division’s General Manager, Senior Managers and HR. Development Committees have the ownership of employee development whilst they
discuss, approve and follow-up individual development plans, ensuring their alignment with Bank’s and Division’s objectives. Also, talent management programs
have been designed and delivered in-house from highly trained professionals from HR with relevant certifications, ensuring effectiveness through systematic and
tailor made approaches that meet organization’s needs, achievement of cost savings, along with the upgrade of the capabilities of the HR team.
Based on our experience to date, significant key factors that enable the successful implementation of talent management programs are the engagement of top
management, the dissemination of people development culture and meritocracy which should be a significant prerequisite regarding decisions on people
management and development issues. Additionally, the establishment of a consistent approach, based on clear and transparent criteria to all employees,
proved to be critical for people engagement, especially
in hard circumstances, like nowadays.
Is talent management
within your company seen
as a key organizational
objective which drives
and enables high
performance?
Alexandros
Tzadimas
Deputy General
Manager HR
Eurobank EFG
For any company, the war for talent is as vital
as the battle for ideas. First of all, talent
needs to be defined. Across the whole
spectrum -business, sport, art- it means
someone who excels at doing things better.
What separates a talented person from a
successful one is usually a lot of hard work.
Talented people tend to fall into two categories:
Those who bring added value to any
business through constant outperformance,
even though they may have little potential
to operate at higher managerial levels.
Those who clearly combine passion and
ambition with an accomplished skillset to
progress, becoming a leader of the business
in future.
The“talent equation”for any business involves
attracting, placing, retaining and developing the
right people. It shows good leadership but also
looks to maintain that leadership element in the
quotient through its people in future. Any
sports coach shows how a strong
team needs good players in the
right combination, and they have
to be coached to work well together as a team, both
on and off the field.They need to be in suitable positions, and to
appreciate leadership.
Finally, the EQ-IQ combination is found in any talented person.
Knowledge and skills, passion and hard work, this blend is what
truly helps someone with the talent potential to combine
head with heart and rise to the top.
Talent crisis will affect every region of the
world in the coming years.
This challenge will force HR professionals
in organizations of all sizes to recast talent
management into“talent creation”.
Despite high unemployment, an imbalance between talent supply and job
requirements will appear, strike globally and create intense competition for
people with science, technology, engineering and math skills for other educated
professionals in most industries.
The workforce strategies of most companies will need dramatic improvement.
Few companies have plans offering realistic assessments of skills and there is a lack
of a comprehensive workforce strategy that maps to a clearly articulated business
strategy, HR professionals need to obtain and interpret information about their
employees’skills, identify gaps and map those against what’s needed in the future.
While skills gaps affect the entire world, developed-economy countries will be
affected in different ways.
For example, talent shortages in developed economies will continue to plague recruiters
from transportation and communication to IT, trade and health care. By 2020, just finding
enough workers will be the pressing issue for employers inWestern Europe due to declining
birthrates. By 2030, Europe will need to add at least 24 million workers. In particular,
professionals with college and graduate degrees will be in urgent demand.
HR professionals must foster a culture where all employees constantly think long-term, develop
talent and treat training as an investment, collaborate with industry and business partners,
establish relationships with education institutions and adapt the workforce planning as a
strategy than a plan.
Dimitris Tsouroplis
Group Head of Human Resources
Libra Group
Martha Milona
HR Director SouthEastern Europe
Group DDB, President GPMA
13ExecutiveNewswire 06/13
Is Talent
difficult to find
nowadays?

12. References SilzerRob,DowellBenE(2010).Strategy-DrivenTalentManagement.ALeadershipImperative.Jossey-Bass
Welch,J.(2006).Winning.NewYork:HarperCollins
Organizations are beginning to understand the strategic value of talent and the impact that strong talent can have on financial
outcomes. Between the continuous war for talent, the changing demographic nature of the workforce, the aging of the
boomers, the entrance of the millennials, the ever increasing pace of change in technology and the financial marketplace,
organizations and their leaders are under tremendous pressure to get the talent equation right.
So we are in fact entering the “age of strategic talent” where human capital and talent decisions will be seen as highly critical
business decisions. Jack Welch (2006) made the point that talent management deserves as much focus as financial capital management
in corporations. But the key issue is to match the Executive Talent to Business strategy.
Our experience as Executive Search Company, suggests that most individual Senior Executives are more likely to be successful in
some environments than others. A Senior Executive who is hired specifically for the skills and abilities to drive business growth may
be less well matched for undertaking a major corporate restructuring or cost-reduction effort. An executive with a strong track record
of financial management and analysis may be more effective in a business cycle that requires strong financial control than one that
requires a focus on product or service innovation. Increasingly we are getting more effective at identifying the type of talent needed
for different strategies. There is an increasing expectation that the talents of an individual or executive team need to match business
strategies and organizational demands. While this has been suggested in the past it is now being given more attention in executive
selection decisions. Corporations are now more likely to carefully outline the specific business environment and business strategies and
identify the specific executive skills and abilities required in the position. An effort is made to select executive candidates whose talent
profile matches the position and business situation.
The business world is more dynamic today than ever before with an accelerating pace of new technologies, increasing globalization
of markets and competition, mergers and acquisitions. In this tumultuous environment, organizations must continually renew their
organizational capability to achieve competitive advantage. However, it is increasingly challenging to find the talent needed to
compete in this dynamic business environment.
Virginia Argyratou
Principal Consultant
Stanton Chase Athens office
Matching Executive Talent
to Business Strategy

13. THE NEAR FUTURE WILL BRING
MORE QUALIFIED CANDIDATES
“Contradictory”candidates
These days, people are more reluctant to change jobs although they openly admit they are open to new opportunities.
However, they are more careful with their decisions. One of the problems we have to face in our daily activities is the fact
that in many cases the prospective employees are not mature and reliable enough. Even though the crisis has matured
them a bit, they still have not reached the desirable level. This is one of the reasons why we still see many expatriates taking high
level positions in this country.
In the future we will see higher qualified candidates for key positions. The reason is that the employees who are now in the age
group of 25-35 are more exposed to the corporate environment, they have better studies and they are given more opportunities
to develop their career in the right way. In the past, people had been given key roles too soon before they had acquired the
maturity and experience.
The dynamics between reality and expectation
The type of employees that mainly our clients are requesting for are those who do their job above and beyond while continually
looking for opportunities to learn and grow. Additionally, stable and dedicated people are preferred. Employers will be eager to
find professional who are very strong in Business Development. Also, there will be an increased demand for advanced people
in different areas of finance. Additionally, the strong market sectors will be energy and IT industry that will show a need for
advanced technical skills. On the other hand, hiring of Romanians abroad has increased over the past two years. One of the
main reasons is that they are more willing to relocate than in the past. Also there are some sectors like the IT Industry that have
developed a very good pool of candidates for regional and international roles.
The educational system of Romania could not be considered a very advanced one, apart for the Information Technology and
Communication schools. For this reason, the new workers for those industries are quite strong. Unfortunately though, it’s true
that Romania has lost at least part of its attractiveness in terms of skilled labor force
at low cost because quality of education has decreased.
Also, we have seen many companies shifting their production
to other countries. Labor cost is one of the reasons;
however the major reason is the underdeveloped
infrastructure. In some cases though,
international companies are still
investing in Romania but not
as much as in the past.
We have to compete
mainly with Asia.
Annita Pakioufaki
Managing Director
Stanton Chase Bucharest office
15ExecutiveNewswire 06/13

14. Regional Newsletter for Southeast Europe and Middle East
www.stantonchase.com
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Nowadays, Talent Management is not what it used to be in
the past. More and more research findings suggest that fewer
people are capable of meeting the demanding future needs
of organizations.
The Corporate Leadership Council (2005) identifies eight
factors that are challenging for organizations from a talent
perspective:
mergers and acquisitions
increasing business complexity
globalization
aging workforce
competitive specialized talent markets
the need to manage global talents
leaner organizational structures
the expectations of organization
leaders to control costs while
driving growth.
The above eight factors increase both the importance and
the difficulty of managing critical talent pools. Companies are
taking multiple paths to ensure that they will have the talent
they will need to meet current and future strategic needs.
Stanton Chase offices around the world indicate that the
challenge of finding sufficient high-quality leadership
talent is a critical issue in Asia, Japan and South America.
China faces similar shortage of leadership talent due to the
demographic situation and cultural philosophy.
Historically, corporations have addressed the issue of
insufficient internal talent by recruiting successors from the
external market. Understanding the quality of external talent
leads to an increased focus on the development of internal
talent. Organizations risk their future growth if they do not
apply equal discipline to the development planning of both
their talents and their products & services. The extent of the
investment in identifying, reviewing and managing their
talent pool highly depends on their internal and external
environment.
The management of high-performing and high-potential employees (talent) in organizations has attracted
attention in recent years because of the assumed links between the ways that talent is managed and the
organizational performance.
Talent management is important for at least two primary reasons: i) the first is that effective talent management ensures
that organizations can successfully acquire and retain essential talent, i) the second has to do with the extent to which
these employees are engaged.
Quality
of ExternalTalent leads
to an Increased Focus
on the Development
of InternalTalent
References Corporate Leadership Council (2005), Realizingthefullpotentialofrising
talent:Vol. 2,Strategiesforsupportingthedevelopmentofhigh-potential
employees.Washington, DC: Corporate Executive Board.Manos Panorios
Managing Partner
According to Mark Zuckerberg, founder of Facebook, “an exceptional employee is not just a little better than
someone who is pretty good; he is 100 times better”.