BUILDING

BLOCKS OF
TALENT
MANAGEMENT

• Everything we do, every problem we solve, every service we deliver is through our people.
• Mark Weinberger, Former EY Global Chairman and CEO
 • Building Blocks of Talent Management
• Workforce Analysis & Planning
Learning • Competencies, Creating Success Profiles
Objectives • Managing & Rewarding Performance
• Succession and Career Planning
 Effective Talent
Management –
Beyond the Life Cycle

• High Performance Formula

Talent x Engagement x Tenure = High Performance.
• Access
How do you tap into capabilities and skills across
your enterprise and the broader ecosystem?
• Curate
How do you provide employees—ecosystem talent—
and teams with the broadest and most meaningful
range of development?
• Engage
How do you interact with and support your
workforces, business teams, and partners to build
compelling relationships?
Source: Deloitte’s New Model of TM
Talent Life Cycle: Some Experiences
 Building Blocks of TM

• Building Block 1: Talent Acquisition (Who will be my

employees?)
• Workforce Planning
• Talent Assessment & Acquisition
• Building Block 2: Talent Development (How can I ensure
that they are well trained?)
• Building Block 3: Talent Engagement (What will ensure
that they give their best to the firm?
• Building Block 4: Talent Retention (How can I ensure that
they won't leave the company?)

Cash will attract Top Talent, but its effectiveness as a retention tool is shaky at
best. - Mark Miller
 I.TA in the
Human Age

• Not such a golden age for job candidates –

Overwhelmed, Overlooked, Regretful (Gartner)
• Hiring managers want to attract talent not just
have candidates respond to a one-off JD.
• Influx of AI-enabled entities redefining the notion
of the ‘right talent mix’
• Now involves both ‘human’ and ‘non-human’
team members.
Jobs are changing rapidly, and the question now
is not whether people have the right skills; it's
whether they have the potential to learn new
ones.
https://hbr.org/video/5645965594001/21stcentu
ry-talent-spotting (Video)
 • Business strategy drives talent strategy.
Workforce • Workforce planning refers to a “continuous process of analyzing
the needs of the organization in terms of what an organization is
Planning (WFP) going to need regarding the size, type, experience and knowledge
of its workforce to achieve set objectives and goals set with
strategic planning.” Source: www.talentLyft.com.
 Operational Vs Strategic WFP

• WFP provides systematic,

equitable and strategic way of
managing organizational
talent.
• Operational workforce
planning looks at the short-
term–typically 1-2 years out–
and helps the organization map
existing skills, capabilities, and
resources back to more near-
term requirements.
• Strategic workforce planning
addresses not only the number
of people required to execute
the business strategy but looks
at the skills and capabilities
those individuals will need in
the long-term.
 New Talent
Signals

Source: Chamorro-
Premuzic, T.,
Winsborough, D.,
Sherman, R.A. &
Hogan,R. (2016).
New Talent Signals:
Shiny New Objects
or a Brave New
World? Industrial
and Organizational
Psychology-1(3):1-20
 Reimagining TA

• Artificial Intelligence (AI)-enabled assistants, e.g., Alexa

(Amazon), Siri (Apple), Google Assistant (Google) and
Cortana (Microsoft), etc., have become recruiting-
assistants.
• Augmented Reality (AR) providing real-time interview
support, e.g., interviewers wearing AR glasses that can
analyze human expressions/body movements to gauge
the validity/truthfulness of responses.
• Virtual Reality (VR) headsets that create scenarios
analogous to real-life situations/challenges for a particular
role/function is an alternative/replacement for time-
consuming/resource-draining /expensive/immobile
assessment centers, etc.
• Volvo - The Recruiting Car
• https://www.youtube.com/watch?v=oUf9_rS1fYg
 12 Recruiting Tools
Used By Modern HR
Teams
• Tool #1: Answer questions about open positions with
jobpal
• Tool #2: Stay in touch with your candidates using Mya
• Tool #3: Quickly screen your applicants with Ideal
• Tool #4: Use Textio to create stronger job descriptions
• Tool #5: Remove gendered words from job ads using a
Gender Decoder
• Tool #6: Reward referrals with Teamable
• Tool #7: Get more internal referrals with RolePoint
• Tool #8: Administer over 1,000 tests via Interview
Mocha
• Tool #9: Test development skills with HackerRank
• Tool #10: Use Weirdly to look for matching values
• Tool #11: Schedule interviews with My Ally's AI
assistant
• Tool #12: Let candidates choose their own interview
times via Calendly
• Source: Hire by Google - https://hire.google.com/
 Interviews That
Matters…

• Asynchronous video interviews at Goldman

Sachs.
• https://hbr.org/2019/05/expanding-the-pool
• Talent 5.0 - Taking Recruitment Practices to a
New Level | Stefanie Stanislawski |
TEDxUniMannheim
https://www.youtube.com/watch?v=DiaZsat2r
wM
 The Ethics of Talent
Identification
Two basic considerations are critical across the
board.
1. Promoting Consent and Awareness:
• There is now quite a big difference between what
candidates believe employers know about them and
what employers really know — and hiring
organizations have an ethical obligation to do what
they can to close that gap.
2. Fostering Fairness:
• It’s also important to consider the degree to which
hiring tools may stack the deck against certain groups
of candidates, particularly people of color, women,
and individuals at a socio-economic disadvantage.

“Talented individuals are drawn to organizations that continually

refresh their systems, processes, and strategic initiatives.”
Douglas A. Ready, Linda A. Hill, & Robert J. Thomas (2014).
Duties of a Talent Acquisition Manager
TA’s Attitude towards External Talent: BUILD VS BUY

How Nestlé transformed recruitment into talent acquisition

https://www.youtube.com/watch?v=5HIlROqdik0
II. Talent
Development

• “If you want 1 year of prosperity, grow

grain. If you want 10 years of prosperity
grow trees. If you want 100 years of
prosperity, grow people.” Ancient
Chinese Proverb
“Learning in the flow of work” has become a
pressing issue
 Building block 2: Talent Development

• According to Capabilities for

Talent Development: Shaping
the Future of the
Profession (ATD Press, 2020),
the term refers to the talent
development efforts that
foster learning, employee
engagement, talent
management, and employee
development to drive
organizational performance,
productivity, and results.
Talent Development helps to:

• Develop the organization’s ideal employee

• Assist employees in achieving their full potential
• Save on employees turnover costs, and
• Align people to the business strategy
• Forecasting Employee Potential For Growth
Toward a Centered Approach
Balancing Empathy, Objectivity, and Discipline

1. Make talent development worthwhile for the people most

affected by its results – Experience, Exposure, Education.
2. Establish Accountability & Advocacy.
3. Orient toward the Future.
4. Create Short-term Goals to Sustain a Long-term Focus
5. Establish Tools, Processes, & Messaging to Cultivate
Transparency and Trust.
Source: The holy grail of effective leadership succession planning - Jeff Rosenthal, Kris Routch, Kelly
Monahan, Meghan Doherty: https://www2.deloitte.com/us/en/insights/topics/leadership/effective-
leadership-succession-planning.html
 THE ONE THAT GOT AWAY
• Investment executive Sallie Krawcheck never fit in with the “boys
club” of Wall Street, despite earning some of the most impressive
results in the industry.
• In 2008, Sallie found out on TV that she’d been fired as CFO at
Citigroup after a clash with the CEO.
• At the time, while Sallie believed the company should reimburse clients
for the bad investments to preserve long-term relationships, the CEO
was adamant that the company had no legal obligation to do so. As a
result, she was fired.
• Sallie later went on to work for competitor banks.
• In 2013, she purchased 85 Broads Unlimited LLC, a networking group
for women in the financial industry.
• She then transformed the company into Ellevest and introduced the
first index fund to invest in companies that advance women.
• Today, Sallie is one of only a few women CEOs in the financial
industry and is investing in businesses that support gender diversity.
 Coaching for Performance

• Your Candidates, New Hires, Learners, High Performers & High

Potentials.
• Organizations that effectively prepare managers to coach are
130% more likely to realize stronger business results and 39%
stronger employee results through engagement, productivity
and customer service(The Ken Blanchard Companies).
• Only 5% of managers have been trained to coach.
• Leaders who are perceived as using coaching behaviours
(Facilitating, Inspiring, and Guiding) create a sense of positive
work affect or emotion in their followers.
• “ What's needed is a deep-rooted conviction, among business unit
heads and line leaders, that people really matter -- that leaders must
develop the capabilities of employees, nurture their careers, and manage
the performance of individuals and teams.” - Drew Hansen,
www.forbes.com
Four Essential “Managing is done minute to minute in a series of conversations.”
Skills Ken Blanchard & Spencer Johnson
 Internal Talent Mobility
• Internal talent mobility “is the process of moving people within your workforce to
fill open opportunities, this can include promotions to new roles, short-term
redeployment, gig opportunities, or moves to different departments.”
How to Mobilize Your People?
Four Steps

• “46% of survey respondents say managers resist

internal mobility.”
• Source: Deloitte, Talent mobility:Winning the war on
the home front)
• Step 1: Get managers on board
• Present a compelling pitch.
• Focus on the big picture.
• Communicate your goals.
 How to mobilize your people?
• “56% of survey respondents said it would be easier to
find a job elsewhere than with their current
organization.”
• Source: Deloitte, 2019 Deloitte Global
Human Capital Trends
• Step 2: Create a culture of talent sharing
• Work with team leaders.
• Promote learning opportunities.
• Introduce mentoring.
 How to Mobilize Your
People?

• “81% of employees feel that their skills

aren’t being fully utilized at work.
• Source: Fuel50, Career Agility &
Engagement Research
• Step 3: Provide visibility to internal
talent
• Kick start career conversations.
• Information is power.
• Powerup HR.
 How to • Step 4: Build your talent pipelines through HR Tech platforms like Fuel50
Mobilize Your • Match employees with internal redeployment opportunities based on their skills and
talents.
People? • Allow for post-assignment peer-to-peer feedback
• Make strategic workforce decisions with powerful talent mobility insights and trends.
Career Engagement Practices and Outcomes
Can’t Develop a Whole Career? Try
Developing These Building Blocks
Instead
• Competence—building critical capabilities, skills, and expertise?
• Contribution—becoming a real “difference-maker,” A-player, and go-to
resource?
• Connection—cultivating relationships and deepening one’s network?
• Choice—enhancing the control and autonomy one can exercise within
and outside of the workplace?
• Challenge—stretching beyond what’s known, experimenting, stepping
into the discomfort zone?
• Confidence—performing in ways that confirm effectiveness and grow
the internal sense of certainty?
• Contentedness—experiencing satisfaction, fulfillment, and joy within
the context of work?
• Compensation—optimizing the financial rewards associated with the
contributions made?
 Career Planning: Reinventing Your Personal Brand
• (1) Define your destination: Check out industry trade journals, do informational interviews, even try an
internship. See if your company offers shadow programs or sabbaticals. Then build the skills necessary
for your new path,
• (2) Leverage your points of difference: Use your past experiences and your distinguishing
characteristics to your advantage, even if they're not strictly relevant to your work,
• (3) Develop a narrative: Learn to communicate exactly how your past fits into your present, and focus
on the value your experience brings (rather than on your own interests) when explaining your transition,
• (4) Reintroduce yourself: Strategically re-educate your friends and acquaintances, addressing negative
perceptions if necessary. Get involved with projects that will showcase your new interests and abilities,
• (5) Prove your worth: Use the internet to create and share your content. Associate with the leading
organizations in your field. Be consistent and committed as you move forward.
• "Learning is what most adults will do for a living in the 21st century.” Alfred Edward Perlman
What do Talent Development Managers Do?

• Need analysis and diagnosis

• Determine appropriate L&D approach
• Program design and development
• Develop material resources (Make)
• Manage internal resources (Borrow)
• Manage external resources (Buy)
• Individual development planning and counseling
• Job/performance related training
• Conduct classroom training
• Group and organization development
• Manage the L&D function
• Professional self development
 Suggested Readings

• Building a Game Changing Talent Strategy: https://hbr.org/2014/01/building-a-game-changing-talent-

strategy?referral=03759&cm_vc=rr_item_page.bottom

• Winning the Race for Talent in Emerging Markets: https://hbr.org/2008/11/winning-the-race-for-talent-in-emerging-markets

• How to Hire: https://hbr.org/2018/01/how-to-hire?referral=03759&cm_vc=rr_item_page.bottom

• Your Approach to Hiring Is All Wrong - Data Science Can’t Fix Hiring - Peter Cappelli - https://hbr.org/2019/05/recruiting

• Expanding the Pool - Dane E. Holmes - https://hbr.org/2019/05/recruiting (May - June 2019)

• Hiring for Culture Fit Doesn’t Have to Undermine Diversity: https://hbr.org/2019/09/hiring-for-culture-fit-doesnt-have-to-

undermine-diversity?referral=03758&cm_vc=rr_item_page.top_right

• Succession Planning: https://magazine.insperity.com/issue-13-dt/p/3?resource=137381&resource-key=3fddc7cef8

• Helen Rosethorn & Dev Modi (2017). HR As A Force For Digital Change. Prophet in Collaboration with HR Grapevine. London:UK

• Strategic Drift: How HR Plans for Change is an Economist Intelligence Unit report, ADP Research Institute.
https://www.adp.com/resources/articles-and-insights/articles/s/strategic-drift-how-hr-plans-for-
change.aspx?referrer={56CC77E3-6ACC-4295-B70F-2A4A8242FC74}

• https://www.mckinsey.com/featured-insights/future-of-work/retraining-and-reskilling-workers-in-the-age-of-automation

• https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/using-people-analytics-to-drive-business-
performance-a-case-study

• https://www.mckinsey.com/business-functions/organization/our-insights/power-to-the-new-people-analytics

• https://gartner.com - https://www.workforce.com
Talent Analytics