How to make integrated talent management a competitive advantage - Peter Wright
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How to Make Integrated Talent Management a Competitive Advantage Peter Wright CEO & Founder of Acorn Strategy Consulting
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Transcript of How to make integrated talent management a competitive advantage - Peter Wright
How to Make Integrated Talent Management a Competitive Advantage
Peter Wright CEO & Founder of Acorn Strategy Consulting
The Day After Tomorrow – 4 Biggest Challenges
Change
Paradigm Shifts
Uncertainty
Complexity
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Four States of ChangeShock Change
Corrective Change
Unfocused Change
Adaptive Change
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Lakota Indian tribal Wisdom said that when you discover you are riding a dead horse the BEST Strategy is to Dismount.
However, in many places of employment, other strategies with dead horses are used including the following:
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• Buying a stronger whip• Changing riders• Saying things like, “This is the way we have always ridden this horse”• Appointing a committee to study the horse• Arranging to visit other companies to see how they ride the dead horses• Increasing the standards to ride dead horses• Creating a training session to increase our riding ability• Issuing a memo declaring that “This horse is not dead”• Harnessing several dead horses together for increased speed• Do a Cost Analysis Study to see if contractors can ride it cheaper• Change the performance requirements for the horse• Promote the dead horse to a supervisory position
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Examples of Paradigm Shifts
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Key Success Factors
A key success factor is the answer to the question:
“What do we have to do uniquely or particularly well to succeed?”
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Key Success Factors
• Economies of Scale
• Research and Development
• Product Development
• Quality of Product
• Quality of People – Technical
• Customer Service
• Image
• Pricing Strategy
• Intellectual Property
• Innovation
• Organizational Efficiency
• Unique Proposition
• Procurement Capability
• Creativity
• Speed to Market
• Niche Player
• Anticipate/Handle Change
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Constant Supply of World Class TalentThe World of Integrated Talent Management
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Talent Strategy & Business Alignment
Ad
apti
ve C
han
ge C
apab
ility O
rganizatio
nal M
od
el
Strategic Workforce Planning – Annual Organizational Review
Talent Capability Aligned to business requirements
Talent Acquisition
Employer Brand
Employee Value Proposition
Employee Engagement
Total Rewards
Management of Performance
Systems and Process
CareerManagement
SuccessionManagement
LeadershipDevelopment
Learning & Capability DevelopmentIndividually - Corporately
Workforce Analytics
Accenture Report 2014
• 15 leading industrial nations of the world will all face skills shortages by 2030
• The “Perfect Storm” is going to be caused by:• Baby Boomer Demographics
• Millennials not entering – or leaving – corporate life
• Poor Diversity and Inclusion Strategies
• Technological Change
• Inability of companies to keep their workforce suitably educated
Accuracy of Predictors1.0
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Perfect prediction
Assessment centers (promotion)
Ability testsWork sample tests
‘Situational’ interviews/criteria-based interviewsAssessment centers (performance)Bio-data, personality tests
InterviewsReferences
AstrologyGraphologyChance Prediction
Talent Acquisition Strategy
• Companies must have a Strategic Workforce Planning capability
• Diversity and Inclusion is a key business imperative
• Companies must secure a “talent pipeline”
• Companies will need to improve their onboarding process
• Talent Acquisition teams will need strong research capability
The Flexible FirmSelf
Employment
Crowd Sourcing
Sub Contracting
ConsultantsOutsourcing
Interim Management
Agency
Joint Venture
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Flexible Group
Short Term Contracts
Internships
Job Sharing
Part Time
Core Group Core Employees
FunctionalFlexibility
“It is not the strongest species that survive, nor the ones most intelligent, but the ones
most responsive to change.”Charles Darwin
“The Species of Nature” 1856
