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Talent Management
Andre O’Callaghan
November 2008
"The thing that wakes me up in the
middle of the night is not the economy
or competitors; it is whether we have
the leadership capability”.
(David Whitwan, former CEO of Whirlpool Corporation)
Introduction
• In the 21st century: Talent is the new wealth
• We are poachers of talent vs developers of talent
• Most companies play “talent management catch-up” and not managing talent (GIBS)
Some Perspectives
• Talent management is a 2-way relationship between the company and the employee
• If not: “bodies” filling jobs
Some Perspectives
The requirements of the organisation
The offering by the potential employee
The mutual benefit of both parties+ =
Focus of Talent Management
Bodies
Hearts& Minds
“Hard” TM
“Soft” TM
Nr’s & Quality
Contract
• “A” Players versus “B” Players
• Developing talent vs employability
• Raised threshold of entry
• Identification of dormant talent
• Skills practice in the workplace
Challenges
Trends
• One third of the US federal working
population will be retired by 2008
• Over 31000 vacancies in the Australian
healthcare system
• 60% of future jobs will require training that
only 20% of the current workforce possess
Trends
• 85% of current jobs require post-high school
education (compared to 61% in the 1990’s)
• Disengaged workforce
• 70% of companies surveyed by BPM in 2007
- not effective in measuring staff performance
and productivity
• Reduction of recruitment costs and risks
• Effective knowledge management and transfer
• Realisation of business strategy
• Delivery of cutting edge services and products
Benefits
• Creating a competitive advantage
• Improved client retention (no loyal customers
without loyal employees)
• Maintaining adequate capacity
Benefits
9-Box Matrix-
Potential
3 6 9
2 5 8
1 4 7
High
Medium
Low
Under- Good Strong
Performance
9-Box Matrix
Potential
3 6 9
2 5 8
1 4 7
High
Medium
Low
Underperforming Good Strong Performance
The sky is the limit: demonstrates the ability to operate at two or more levels
above their current position
Demonstrates the ability to move to a bigger/expanded role or to operate at one
level above their current position
Has not demonstrated the ability to move beyond their current role
Below expectationsPerformance : did not meet the roles minimum targets on a
consistent basisDirection for business: did not set a clear direction for the business or did not set a direction that enhanced the unit’s profitability
People leadership : did not lead or develop teams effectively
Execution : did not deliver on a consistent basis
Met expectationsPerformance : reached expected targets and moved towards the stretch targets of the roleDirection for business: set direction for the business unit which helped improve profitability
People leadership: develops and contributes to effective teams
Execution : possesses a results orientation and achieves impact
ExceptionalPerformance : consistently exceeds expected and stretch
targets of the roleDirection for business: set clear direction for the business unit, leading to profitable growth
People leadership: Fosters an effective team environment and
has strong followershipExecution : consistently delivers with high impact
Identifying Talent
“Talented individuals are mobile monopolies with global passports.”
(Karaoke Capitalism – Ridderstrale & Nordstrom)
Identifying Talent
A recent McKinsey survey in top SA companiesshowed:• Only 20% of SA executives know who the
top performers are• Only 3% of top SA executives develop
people effectively
Identifying Talent
Cognitive
Attitude
Action
Key Elements of Identifying & Assessing Talent
• Performance data
• Talent review meetings
• Track record reviews and evaluation
• Qualifications
• Psychometric assessments
• Development/assessment centres
• Multi-source feedback reports
Success Factors
• Planned approach
• Marker-driven
• Invest
• Timing of retention
• Good job design
Complexity
Capabilities
Overstretched•Self-clumsiness•Worry & self-conscious•Anxiety & stress•Position power•Low productivity•Task overload Underutilised
•Frustration & boredom•Stress•Anxiety•Empire building•Interference•Outside focus
Meaningful jobs
“In-
Flow
”: E
ffect
ive
deci
sion
mak
ing
Success Factors
• Compensation
• Social Ties
• Communication
• Reward talent management
Remuneration
• War on talent often becomes the “pay war”
• Value of golden handcuffs?
• The stars:
– Performance often decreases over time
– It affects team performance in a significant way
– Stars’ performance in one organisation is often not
repeated in another company
– Tend not to stay for long - the “young and the
restless” syndrome
Challenges
• Talent don’t want to be led, they want to be
inspired
• Talent knows their value and expect you to
know it as well
• Talent is very mobile
• Talent want protection and recognition
Challenges
• Talent needs freedom to experiment and to fail
• They need leaders to be on their level
intellectually and in all other spheres
• Leading talent is all about emotions
Challenges
“If you want them to turn right, tell them to turn left”
(Rob Goffee, 2007)
Challenges
Attitudes of talented people towards organisational
issues
• Scornful of hierarchies
• Fancy job titles and promotions – no value
• They want to stay “close” to the “real work”
• They do not want leadership
Challenges
Attitudes of talented people towards organisational
issues
• They want instant access to the decision-makers
• They have a low boredom threshold
• They want to feel special
• They won’t thank you
SMME’s
Challenges:
• Lack of Specialized Expertise
• Fewer Economies of Scale
• Hiring right
SMME’s
Advantages:
• Employee knowledge and relationships
• Flat structures and effective communication
• Sense of Belonging
Questions
&
Answers