Talent Management Aligned with Strategy Talent Management Practices Better Talent Management can have a significant impact on profit per employee Surveys show that a majority of workers in thinking-intensive jobs in large companies feel they waste from half a day to two days out of every workweek The opportunities to mobilize the latent intangible assets (that is, knowledge, skills, relationships and reputations) of a company’s workforce are vast.” Better Talent Management can have a significant impact on profit per employee “Most companies sti earn profits per employee at close to the same low levels earned in the 20th century because they have not become very adept at. mobilizing the mind power of their workforces. As a comparison, the average top-30 company increased profits per employee 70 percent The target should be to improve profits per employee by 30 to 60 percent or more. Wwuecteppotemir-2t02 eet osprey sen eoetng iat wept 87000 oti sence Cost eg tao onpayne tase feotencncys anger Boe Screener steel bvedEspecially Now. Talent management is even more critical in an uncertain economy—the luxury of missteps is gone—every talent decision must be correct. The stakes are even higher when talent cannot be “bought” and outside flexibility is reduced. Must look at the skills and competencies needed to get the work done : More emphasis on increasing productivity through engaging, developing, deploying, recognizing and retaining the employees that we have—greater capacity to execute strategy Doing “more with less” is the new standard Cross-training and accelerated development become major initiatives Talent Management is Now Strategic * Confluence of research and best practices to support + Can't succeed in the marketplace without first succeeding in the workplace + The economy values innovation, agility, collaboration across borders, rapid response to change and differentiated strategy * Greater visibility and accountability than ever before, especially with new stakeholders + Examples of new companies and organizations that are born “human-capital centric” from the very start * The flood of younger employees with expectations The Impetus for TM in The Public Sector The big having the skills and competencies to deliver on the mission—it is not just technical but also social, cultural and emotional intelligence competencies Talent Management Adoption Model Vision /" Leader Minds J Infrastructure /” process Building | | Resulting inoThe Steps in the Mout ‘ations go through the steps ly over a period of many years. These organizations are known as “Talent Academies” because this represents a significant core competericy for them. Many new organizations are “born” to a talent- centric, high performing culture. They carefully architect this culture from the very beginning Different paths but the steps are necessary Step 2: Division Leader’s Talent Mindset The next leadership level in the orga and active champions step forward Talent laboratories begin to be established Recognition is provided and success is observed in specific departments or groups Compelling cases are made to those leaders who can be influenced Step 1: Enterprise Leader’s Mindset McKinsey research has established the importance Numerous “high profile” CEOs have demonstrated this behavior Rough benchmark is at least 20% of time spent on talent-related issues Monthly talent reviews with business units are standard Step 3: Process Building New infrastructure is needed to drive talent practices Old processes are used to drive operational consistency rather than talent optimization Process building is the domai experts s Examples: workforce planning, competency development, performance management, talent reviews, leadership development, internal mobility, and career developmentStep 4: The Guiding Coasition * Moving from the leadership level to more Operational ownership * Not an HR activity, as the responsibility for talent must be owned by the line and leaders at all levels * The members of the coalition must be highly regarded by both leadership and peers * The coalition has real power to shape policies and practices Step 6: The Employee as Initiator of Talent and Career Development Employees start to drive Conversations and action within a structure Democratizing the process and “personal brand building” Forces greater transparency throughout the organization Emphasis from new generations Step L. The Manager as Talent Leader A buge adjustment and hurdle for traditional organizations. Recognition and incentives are pee ete Cee eee misaligned The manager's role is key in engagement, productivity and retention (Gallup, CLC, Towers- Perrin, Hewitt, etc) ju Traditional manager role and is aimed at efficiency and control, not optimizing and leveraging talent Significant personal tran: must also be overcome for managers to be talent leaders ions Top Five Overall Talent Metrics Segmented turnover data Readiness levels for key positions Segmented engagement levels Number of strategic/critical jobs unfilled Percentage of inside vs. outside hires for leadership and critical jobsMore Specific Contributing Measures Quality of incoming candidates Quality of hire Segmented turnover within first two years Time to proficiency in new job : Depth of talent pools for key and feeder positions Number of people promoted outside of department Percentage of st choice hires accepting More Contributing Metrics Percentage of employees participating in referral programs Percentage of employees with an ILP Quality of hiring experience Number of past employees returning Number of internal employees applying for open internal jobs Tangible indicators of knowledge sharing Internal participation in blogs, forums and wikis