Strategic HR Planning anf Talent Mgt 4

1. Strategic Workforce Planning Session 4 Talent Management

2. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

3. Drivers of talent attraction and retention

5. Mc Kinsey Study – The War for Talent It will become increasingly difficult to attract and retain they best talent Supply of talent shrinking and more elusive Supply of tomorrow’s leaders declining Talent more mobile across companies Greater competition for “best” talent More sophisticated skills required for leading growth, globalization, and technological change Companies waking up to their talent gap and vying to upgrade their talent Small companies increasingly attractive

6. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

9. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

10. Talent Management Principles Outcomes Inputs

11. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

12. Key Elements of Talent Management Review

13. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

14. Talent Management Processes Managing Talent Business Results

15. Talent Management Processes

16. Talent Management Processes

17. Talent Management Processes Business Results Managing Talent

18. Talent Management Processes

19. Talent Management Processes Business Results Managing Talent

20. Talent Management Processes AS IS TO BE

21. Managing Talent

22. Managing Talent

23. Managing Talent Shaping Talent Pools

24. Managing Talent

25. Business Results

26. Talent Management Framework Purpose of TM TM Tools TM Processes Key Elements of TM TM Principles Definition of TM BENEFITS OF TALENT MANAGEMENT

27. Talent Management Tools

28. The Talent Management Matrix Potential 3 6 9 2 5 8 1 4 7 High Medium Low Under- performing Good Strong Performance

29. Talent Management Matrix Illustrative Example - 9 Total Compensation Keep well ahead (25%) of market. Grant long-term incentives. Retention Assign a member of top management to monitor satisfaction and engagement. Engagement Assign to key committees, teams, networks; special invitations to meetings; provide opportunities to represent G-P in community and industry forums. Exposure Arrange exposure to significant and relevant senior management/board members, Executive Development programs. Assessment Provide complete continuous assessment, evaluation and feedback alternatives. Coach Make coaches available for key skill development. Mentor Assign a senior level mentor. Assignment Move aggressively through a series of targeted, challenging, diverse and broadening jobs every 24-36 months. Development Use challenging jobs to enhance current skills and develop others. Consider as candidate for G-P sponsored graduate or executive development programs.

30. The CLC Four Lenses

32. CONVERSATION TOPIC #1 “ Start by paying me a decent, market-related salary …….or perhaps a little bit more. We can then focus on the other things that really matter.” What drives retention of talent?

33. CONVERSATION TOPIC #2 “ I want to have absolute clarity of what the Company can provide before I commit “ The psychological contract

34. CONVERSATION TOPIC #3 “ Freedom and autonomy mean a lot to me. Let’s discuss the expected outcomes from the task , but then leave me to get on with it.” Generation gap?

35. CONVERSATION TOPIC #4 “ I look at the quality of leadership before a make a decision for a better job, or consider a transfer” Career decisions

36. CONVERSATION TOPIC #5 “ I’m not too concerned with the rigidities and formalities of performance management systems…I just want to get on with the job. But I thrive on feedback – ongoing, honest and sometimes ‘fierce’ feedback.” Career decisions

37. CONVERSATION TOPIC #6 “ Although we don’t talk about it much , recognition is a big thing. Recognition through financial reward is great, but non-financial recognition also plays a big role.” Line of sight…

38. CONVERSATION TOPIC #7 “ I suppose I’m a true believer in life-long learning : training and development, coaching and mentoring – all those things mean a lot to me.” Drivers of talent growth

39. CONVERSATION TOPIC #8 “ But I regard everyone as talented. I don’t like the blue eyed boy syndrome in our organization” Definition and affirmation of talent

40. CONVERSATION TOPIC #9 “ My passion lies in geology. Yes, I’m obsessed with rocks. But, please, I don’t want to manage people – that’s a big turn-off for me. That said, what are my career prospects?” Only management?

41. CONVERSATION TOPIC #10 “ I know that I’m not the cream of the crop….I realize that I’m not super-intelligent. However, I am a solid performer and add a lot of value. I am also very loyal. Don’t forget about me.” Balance in organizations

43. CONVERSATION TOPIC #11 “ I look at what the psychometric tests say – it is a scientific way for me as a line manager to identify talented people” Assessment and testing

44. CONVERSATION TOPIC #12 “ I regard myself as a maverick . Some people even call me ‘weird’. But I also know that I make a substantial contribution to the company. Allow me to continue to push the boundaries .” Are talented people all mavericks?

45. CONVERSATION TOPIC #13 “ I want to be developed to my full potential ; I am the type of person that needs to be stretched. But, to the extent that it is possible, I want to maintain an acceptable work-life balance .” WLB a Company manual entry?

46. CONVERSATION TOPIC #14 “ Yes, I’m 48 and white and male. As you know, I have an excellent track record and still have a lot to offer. Use me , develop me, stretch me.”

47. CONVERSATION TOPIC #15 “ I’m 59 and should be retiring next year. But I am still healthy - mentally, physically and emotionally. Can we not work out a deal where, after retiring, I work for the company two days a week?”

48. 1 . People First!

49. “ When land was the productive asset, nations battled over it. The same is happening now for talented people.” Stan Davis & Christopher Meyer, futureWEALTH

50. Talent! Tina Brown : “The first thing is to hire enough talent that a critical mass of excitement starts to grow.” Source: Business2.0

51. 2. Soft is Hard!

53. 3 . FUNDAMENTAL PREMISE: We Are in an Age of Talent/Creativity/ Intellectual-capital Added.

54. “ Human creativity is the ultimate economic resource.” —Richard Florida, The Rise of the Creative Class

56. 4 . Talent “Excellence” in Every Part of Every Organization.

58. 5 . P.O.T./ Pursuit Of Talent = OBSESSION.

59. “ The leaders of Great Groups love talent and know where to find it. They revel in the talent of others .” Warren Bennis & Patricia Ward Biederman, Organizing Genius

60. 6 . Talent Masters Understand Talent’s Intangibles.

61. Visibly energetic /Passionate/Enthusiastic … about everything. Engaging/Inspires others. ( Inspires the interviewer!) Loves messes & pressure. Impatient/ Action fanatic. A finisher. Exhibits: Fat “WOW Project” Portfolio . (Loves to talk about her work.) Smart. Curious/ Eclectic interests/ A little (or more) weird . Well-developed sense of humor/ Fun to be around. ****** No. 1 re bosses: Exceptional talent selection & development record. (Former co-workers: “Did you visibly grow while working with X?” /“How has the department/team grown on a ‘world-class’ scale during X’s tenure?”)

62. 7 . HR Is “Cool.”

63. “ HR doesn’t tend to hire a lot of independent thinkers or people who stand up as moral compasses.” —Garold Markle, Shell Offshore HR Exec ( FC /08.05)

64. 8 . There Is an “HR Strategy”/ “HR Vision”

65. “ Omnicom very simply is about talent. It’s about the acquisition of talent, providing the atmosphere so talent is attracted to it.” —John Wren

66. EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward Source: Ed Michaels et al., The War for Talent

67. 9 . There Is a FORMAL Recruitment Strategy.

68. Cirque du Soleil : Talent (12 full-time scouts, database of 20,000) . R&D (40% of profits; 2X avg corp). Controls (shows are profit centers; partners like Disney offset costs; $100M on $500M). Scarcity builds buzz/brand (1 new show per year. “People tell me we’re leaving money on the table by not duplicating our shows. They’re right.” —Daniel Lamarre, president). Source: “The Phantasmagoria Factory”/ Business 2.0 /1-2.2004

69. 10 . HR Strategy = BUSINESS Strategy

70. People Department Center for Talent Excellence Seriously Cool People Who Recruit and Develop Seriously Cool People Etc.

71. “ In the CEO job you will not use much of what you have learnt here …you will be into people. The recruitment of people, the evaluation of people…the dealing with people” Jack…to the Stanford MBA Class