BUILDING A TALENT MACHINE · Succession Plan That Works Audit of Your Talent Pool Raising the Bar...

BUILDING A TALENT MACHINE HOW TO ENGINEER A DIFFERENT PLAN FOR COMPANY GROWTH

Presented by: Charlotte Jensen Managing Consultant

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The Latest From the Gallup World Poll

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The United States Continues to be the Most

Desired Migration Destination

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Who Wants to Move to the U.S.?

138,000,000 people around the globe

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China has the Most Likely Migrants to the U.S.

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Majority of Americans Name China as the Top

Global Economic Power

“Who is the leading economic power in the world today?”

Meanwhile, the U.S. GDP still holds a significant lead over other global economies

Low U.S. Consumer Confidence

– 37% rate the U.S. economy as low

– 54% believe the economy is getting worse, not better

High Progress in China

– Dramatic increase in exported manufactured goods

– Steady increase in China’s GDP

And yet…

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Where is the Disconnect Between Perception

and Reality?

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Increase of Personal Income in China Lags

Behind GDP Growth

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Average China Life Ratings are Flat Despite

Dramatic Rise in GDP

Pollution

Worker conditions

Infrastructure: fuel, roads energy, transportation

As economy matures, people put public value on working conditions

Built economy as low cost producer, but wages rising

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China Faces Several Challenges Consistent

With Emerging Countries

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Low Engagement in Chinese Workforce is a

Major Threat to Sustained Growth

Copyright © 2013 Gallup, Inc. All rights reserved.

6%

29%

11%

68%

52%

62%

26%

19%

27%

0% 20% 40% 60% 80% 100%

China

United States

Global

Engaged Not Engaged Disengaged

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Engagement at Work Ties to Wellbeing

According to AMA, only 14% of senior managers say they are well prepared for the sudden loss of a key

member of their executive team.

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The Big Takeaway: Engaged Workforces are

Good for People, Businesses, and Countries

The most important element in engaging

employees is having the right leaders and managers

on your team.

Succession Plan That Works

Audit of Your Talent Pool

Raising the Bar in Recruiting and

Hiring

Breakthrough Experiences for High-Potential

Managers/Leaders

Ongoing Development,

Engagement, and Performance Management

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Talent Machine

Getting the Right Leaders in Place Requires a

Comprehensive and Systemic Strategy




Hiring


Managers/Leaders



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Talent Machine

A Succession Plan Needs to Take Into Account Who We

Have Now, Our Future Options, and How to Develop Them

Replacement planning is short-term and sets your organization up for long-term failure

A Succession Plan That Works:

- Is dynamic, based on a pool of qualified candidates

- Is continually adapting to needs and available roles

- Is reviewed constantly and aggressively

- Strengthens the company with every hire or promotion

- Uncovers a company’s strengths and weaknesses

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Succession Planning vs.

Replacement Planning




Hiring


Managers/Leaders



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Talent Machine

Understanding Where to Go Requires Understanding

Where We Are Now

– Sales or Growth Problems

Often attributed to market conditions, positioning, back order issues

– Morale or Engagement Problems

Often attributed to compensation issues, lack of rewards or training

– Productivity Problems

Often attributed to poor systems and technology, external factors

– Turnover Problems

Often attributed to low pay, competitive market, the nature of the business

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Business Challenges That

Stem From Talent Limitations

Talent = a naturally recurring pattern of thought, feeling, or behavior that can be productively applied

– Can be measured with validated assessments

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Auditing Your Talent Pool

Assessment taken individually, audit report is of the whole group

• Organization or unit

evaluated on talent level, strengths and limitations, recommendations for targeted improvements

Talent Model

Motivation

Influence

Workstyle Relationship

Thought Process

Implants a talent focus in the company

Attract and source for the right fit

Promote and develop people around company needs

Identify and consistently select to standards

Steadily increase the talent pool

Builds a stronger employment brand

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Talent Audit Outcomes



Raising the Bar in Recruiting

and Hiring


Managers/Leaders



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Talent Machine

Hiring the Best Requires Attention to Your

Recruitment and Selection Processes

1. ______________

2. ______________

3. ______________

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Describe the BEST manager you’ve

ever had, in three adjectives:

Driven

Passionate Creative

Organized

Caring Decisive

Visionary

Inspiring Communicative

Encouraging

Determined Positive

Ethical

Fun

Honest

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First, Attract the Right Candidates

- Through your recruitment messaging

- Through your brand as an employer

“Job requirement: Define technical project requirements with clients.”

“Are you a tech-savvy leader who enjoys working with clients to define their needs?”

vs.

vs.

Objective and structured interviews are key

– Less time spent on overall process by hiring managers

– Focus conversations on highly-qualified candidates

Identify fit to role AND culture

Allows for quick individualization of onboarding efforts

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Then, Select Those Who Resemble

Your Top Performers

Study the most

successful in the role

Build and test a pilot

interview

Finalize selection

assessment

Ongoing validation



Raising the Bar in Recruiting and Hiring


Managers/Leaders

Ongoing Development, Engagement, and

Performance Management

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Talent Machine

Experience Matters, but Only the RIGHT Experience

Identify Hi-Potential Leaders and Managers based on:

– Talent

– Metrics

– Developmental Evidence

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Developing Your Succession Pipeline

CEO

CFO

EVP

EVP

COO

EVP

EVP

________ ________ ________

________ ________ ________

________ ________ ________

________ ________ ________

________ ________ ________

________ ________ ________

John Smith Sarah Wood Max Fitch

Three candidates should be in the wings for each role within the top three levels of the organization

Interview your proven leadership stars

– What accelerated their growth?

Interview your executive stakeholders

– Where is the company going and how fast?

– Are they aligned with and able to execute the CEO’s vision?

Identify key experiences that lead to accelerated development

– “What was your first ‘quantum leap’ – movement to a job with significantly more responsibility, challenge, pressure, etc. When did this happen?”

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Determining the Right Experiences for

Your Organization

- Navigate extreme cultural adversity

Examples:

- Hostile environment

- In a minority leadership position

- Persistent negative performance trends

- A situation where other leaders had failed

- Inherits weak leadership team

- Being stretched, with high visibility, before “ready”

- Lead cross-functional team on a major company initiative

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Common Breakthrough Experiences




Hiring


Managers/Leaders



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Talent Machine

Retaining and Maximizing Your Talent Pipeline

Requires Consistent Effort

Start with the basics: clear expectations

Demand that the talented people you hire have a great manager

Rework performance management so it feeds the overall talent machine

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Ongoing Development, Engagement

and Performance Management

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The Succession Matrix: Putting the Pieces Together

Predictive Talent Assessment

Bu

sin

ess

Met

rics

Customer Engagement

Experiential Review

Development Evidence

Employee Engagement

Recast or Reconsider

Develop and Grow

Good Role Fit- Support

Star Performers

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For more information, please visit:

www.gallup.com

businessjournal.gallup.com

Or contact:

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BUILDING A TALENT MACHINE · Succession Plan That Works Audit of Your Talent Pool Raising the Bar...

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