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Winning War for Talent 2.0 in Talent Management Excellence Essentials Jan 2014_Edition
1. 01.2014
Vol.2 No.1
Presented By
$9.99 a month
07222633
Talent Benchstrength
By Doris Sims
The Talent Questions
Every Board of Directors
Should Ask.
Purpose Revived
By Brian Mohr
Ask Yourself and Your
Employees the Most Important Question of All.
Fish Bowls and Talent
Pools
By Julie Winkle Giulioni
The Advantages of Differentiated Compensation
By Anke Mogannam
Fish Bowls and
Talent Pools
Julie Winkle Giulioni
2. 12.2013
Vol.2 No.1
Presented By
$9.99 a month
Features
07222633
Talent Benchstrength
By Doris Sims
The Talent Questions
Every Board of Directors
Should Ask.
Purpose Revived
By Brian Mohr
Ask Yourself and Your
Employees the Most Important Question of All.
Fish Bowls and Talent
Pools
By Julie Winkle Giulioni
Fish Bowls and Talent Pools
When I was a kid, our community hosted a carnival each fall. Every year, either my brother or I won a
goldfish by sinking a ping pong ball into a tiny cup. PG.26
TALENT MANAGEMENT
7 Talent Benchstrength
Doris Sims
17 Winning The War For
Talent 2.0
Sattar Bawany
9 Succession Planning
Eric Kilponen
18 Ask, Listen, Involve
Robin Guarnieri
10 Talent Mindset
Jan Hills
11 Sourcing Talent
Ken Keis
13 Flying Talent
Maite Barón
14 Human Capital and
Talent Management
Terry Booysen & Dr Dicky Els
16 Measuring Recruiting
QUALITY
Nick Tubach
19 Sucession Planning
Sonalee Arvind
Self-appraisals
Dominique Jones
25 The Five Biggest
Mistakes Managers
Make in Recognizing
their Employees
John Schaefer
PERFORMANCE
MANAGEMENT
26 Fish Bowls and
Talent Pools
Julie Winkle Giulioni
22 Purpose Revived
Brian Mohr
27 Four Ways To Get Your
Employees To Care Like
Owners
Louis Effron
20 Training ReLoaded
Arupa Tesolin
23 Performance
Reviews
Dave Rietsema
24 How Managers Can
Help Their Employees
Write Great
28 Managers Taking on
Front Line HR
Management
Margot Uson
31 Forced Ranking
The Advantages of Differentiated Compensation
By Anke Mogannam
Performance Appraisal
Method
Pawan Alamchandani
32 Goal Alignment
Steven Hunt
COMPENSATION
MANAGEMENT
33 The Advantages of
Differentiated
Compensation
Anke Mogannam
34 War For Talent
Ian Dunnington
35 Sales Compensation
Report Card
Joseph Di Misa
36 The Psychology of
Managing
Compensation
Karen D. Sacdalan
3. Winning The War For Talent 2.0
Interactive
In ASIA Pacific Region.
By Sattar Bawany
I n 1997, a groundbreaking McKinsey study exposed the
“war for talent” as a strategic business challenge and a critical driver of corporate performance. Then, when the dot-com
bubble burst and the economy cooled, many assumed the war
for talent was over. It’s not.
Subsequently in 2001, the authors
of the original study revealed that,
because of enduring economic and
social forces, the war for talent will
persist for the next two decades. McKinsey & Company consultants Ed
Michaels, Helen Handfield-Jones, and
Beth Axelrod argued that winning the
war for leadership talent is all about
much more than frenzied recruiting
tactics. It’s about the timeless principles of attracting, developing, and
retaining highly talented managers
- applied in bold new ways. And it’s about recognizing the
strategic importance of human capital because of the enormous
value that better talent creates
The outcome of the study is applicable to many companies
operating in Asia Pacific markets as it was fortified by five years
of in-depth research on how companies manage leadership talent
- including surveys of 13,000 executives at more than 120 companies and case studies of 27 leading companies - the authors
propose a fundamentally new approach to talent management.
They describe how to: create a winning EVP (employee value
proposition) that will make your company uniquely attractive
to talent; move beyond recruiting hype to build a long-term recruiting strategy; use job experiences, coaching, and mentoring
to cultivate the potential in managers; and, strengthen your
talent pool by investing in A players, developing B players, and
acting decisively on C players.
Central to this approach is a pervasive talent mindset - a
deep conviction shared by leaders throughout the company
that competitive advantage comes from having better talent at
all levels. Using practical examples from companies such as GE,
The Home Depot, PerkinElmer, Amgen, and Enron, the authors
outline five imperatives that every leader - from CEO to unit
manager - must act on to build a stronger talent pool. Written
by recognized authorities on the topic, this is the definitive
strategic guide on how to win the war for talent.
Today’s Context in Asia Pacific Region
In today’s tight labor market in fast growing Asia Pacific region,
companies are facing intense competition for talent – and are
giving increased attention to ways to retain talent rather than
rely on costly replacement and retraining. Retention of talent
with critical skill sets is vital for achievement of business growth
and to build organizational competencies, which represent a
competitive advantage. The loss of needed talent is costly because
Talent Management excellence essentials presented by HR.com | 01.2014
of the resultant bidding up of market salaries for experienced
hires to replace them, the costs of recruiting and assimilating
new talent, the lost investment in talent development, and the
hidden costs of lost productivity, lost sales opportunities, and
strained customer relationships.
Can companies win the “war for talent”? Will we be able
to define and implement a retention strategy that will give us
the stable, committed, capable workforce required to achieve a
competitive business advantage? Consulting firm and research
organization reports, published books and articles, and internal
company retention studies suggest that everyone is following
the same overall plan. How will this approach give a company
an edge?
Few, if any, organizations today have an adequate supply of
talent. Gaps exist at the top of the organization, in the first- to
midlevel leadership ranks, and at the front lines.
Talent is an increasingly scarce resource, so it must be managed
to the fullest effect. During the current economic downturn we
may experience a short ceasefire in the war for talent, but we’re all
seeing new pressures put on the talent running our organizations.
Are today’s leaders able to do more with less? The A-players
can, and there should be a strategic emphasis on keeping those
leaders—and developing their successors. Many organizations
are reducing their workforces, but let’s be careful not to cut so
deep that talent is scarce when the economy rebounds.
The supply of leadership talent is critical to any organization’s
prosperity and is, therefore, a central element of talent management. The increasing trend of growing leaders from within is
based on a dawning realization that a popular alternative for
acquiring talent—poaching key people from competitors—ultimately leads to frustration. Outstanding leaders who can ‘ramp
up’ quickly are hard to find, increasingly expensive, and even
when successfully recruited, tend to move from company to
company. So the best approach, usually, is to develop systems
and processes to identify available leadership talent.
Many studies have shown that an important factor for commitment and retention is the effectiveness of immediate management. Employees say it is an important element of the
work environment; research shows it highly correlated with
commitment and retention scores, and employees cite poor
management as a key reason for leaving a company. Accordingly,
there have been many books focused on manager effectiveness.
One big seller was First, Break all the Rules, reporting on the
Gallup Organization’s findings and recommendations for better
management of people.
Integrated Talent Management System
So, what do we mean by talent management? In the broadest
possible terms, it is the strategic and tactical management of
the flow of talent through an organization. Its purpose is to
assure that the supply of talent is available to align the right
people with the right jobs at the right time based on strategic
17
4. Winning The War For Talent 2.0
business objectives. The term “talent management” is often
used to denote e-recruitment and automated applicant tracking systems. This emphasis on staffing and recruiting is more
appropriately called the talent acquisition phase of the talent
management cycle (see Figure 1), an important but preliminary
step in the overall process.
Figure 1: CEE Talent Management Cycle
Vision, Mission, Strategy and Values
1. Talent Acquisition: Proactively recruiting world-class, diverse
leadership talent and providing on-boarding support for them to accelerate their assimilation into their roles.
2. Talent Development: Developing and executing learning and
development programs, processes & assessment tools to grow current
and future leaders
3. Performance Management: The process of creating a work
environment in which people can perform to the best of their abilities.
4. Succession Planning: This is critical towards developing a
leadership pipeline or assuring near-term leadership continuity by
thoughtful consideration of the availability, readiness, and development of internal talent (including High Potentials) to assume critical
“priority” leadership roles.
5. Organizational Results: Achieving favorable and desired results
is obviously the ultimate outcome expected out of any effective integrated talent management system. However it is a lagging indicator
and business leaders will have to focus on the organizational climate
which will have an impact on the other elements of Talent Management Cycle as explained earlier. The flow of effective communication
and the systems of recognition and rewards are integral part of the
climate which influences the talent’s performance effecting productivity, creativity and in driving results with the right impact. The climate
is impacted by a values-driven leadership team. ITM
The Talent Management Cycle includes the proactive analysis and
planning to assure long-term strategic development and deployment of critical leadership and other resources through systematic
identification, assessment, planning, and developmental action.
Talent Management Cycle is composed of several essential elements:
Prof Sattar Bawany s the CEO of Centre for Executive Education (CEE
Global), Managing Director of Executive Development Associates in Asia
Pacific and Strategic Advisor of IPMA in Asia Pacific.
Email attar.bawany@cee-global.com.
Visit www.cee-global.com.
Ask, Listen, Involve
Optimize Employee Engagement to Retain
Key Talent and Drive Higher Performance.
Interactive
By Robin Guarnieri
There’s an old adage from business writer and former management professor Michael LeBoeuf that, “what gets measured
gets done.” Yet for many companies, the quest to measure employee engagement isn’t reaping the expected outcomes. In
fact, avast majority of North Americancompanies may find
employees planning to pursue new job opportunities in 2014.
According to a recent onlinepoll by Right Management,83%
of 900 employees who responded indicated they intend to actively seek a new position in the New Year.With an improving
labor market and employee satisfaction continuing its downward trend, employee engagement should be a top concern for
companies who want to keep their best talent.
Do you plan to pursue new job opportunities in 2014?
2013
18
2012
2011
2010
2009
Yes, I intend to
actively seek a new
position.
83%
86%
84%
84%
60%
Maybe, so I’m networking.
9%
8%
9%
8%
21%
Not likely, but I’ve
updated my resume.
3%
1%
2%
3%
6%
No, I intend to stay
in current position.
5%
5%
5%
5%
13%
High employee dissatisfaction has a ripple effect that can
hurt the bottom line, disrupt productivity and damage morale.
While many companies focus on measuring engagement, few
have a true pulse on the significant value an engaged workforce
provides. Even fewer are taking the necessary action for driving
sustainable change and ensuring a return on their investment.
In fact, results of a recent Right Management global survey
on the effectiveness of employee engagement shows a majority
(56%) of the human resources managers who responded concedingthat their organization’s employee engagement efforts
fell short in driving bottom-line business objectives.
At the same time, we are in a new Human Age where companies continue to navigate the growth of emerging markets, the
Talent Management excellence essentials presented by HR.com | 01.2014