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2. AGENDA1. Defining Talent Management (TM)2. TM in context of Sustaining Competitive AdvantagesTHEORY3. Success Factors4.Going one step further5.Profiles of participants6.Talent aligned to Overall Business Strategy7.Talent pipeline approach8.Demand / Supply Gap A Supply Chain perspective PRACTICE9.Global TM Challenges 9.1 Standardization Vs. Localization 9.2 Talent pool characteristics10. Building high-quality colleagues11. Retention of talented employees12. Decision-making in TM age11-12-20122 3. DEFINING TALENT MANAGEMENT (TM) The management of a companys pool of talent is now too important tobe left to the human resources (HR) department alone and has becomethe responsibility of the top executive. Good talent management increases job satisfaction and improvesretention rates. Leads to smooth transitions and secures businesscontinuity. TM includes (The Economist Unit, 2006): Identification of leadership potential Performance evaluations Targeted development activities Psychological testing Assessment centers: deal with capabilities gaps Training and development programs Relocations11-12-2012 3 4. SUSTAINING COMPETITIVE ADVANTAGES WHY to take seriously in this age TM? Demographic & legislative changes Globalization of standards requirements Knowledge-worker & mobility Failing to manage your talent pool = Failing to manage your SC(P.Cappelli) Greater productivity, Higher customer satisfaction, Revenue Growth,Improved Reputation are all wanted! Our ultimate financial results are a reflection of the success or lackthereof of our development program, admits William Hawkins, the COOof Medtronic. At the end of the day, what differentiates us from some ofour competitors is the quality and capabilities of our people.11-12-20124 5. THE TM WHEEL / 6 PRINCIPLES OF EFFECTIVE GTM (source: Stahl et al., 2012) 11-12-2012 5 6. SUCCESS FACTORS OF TMWORKPLACESTRUCTURE TRAININGINTERNAL&SUCCESS CLIMATE DEVELOP MENTMOTIVATION &COLLABORA TION11-12-2012 6 7. GOING 1 STEP FURTHER The limited External Validity the research Threats identified if kept 1 firm (interviewee) Limited types of population tested Gender bias Cultural bias Possible Solution: Replication How to replicate? Increase the number of participants: from 1 to 4 Mix the gender of people: still problematic Increase cultural (organization & country level): see next table 11-12-20127 8. RESPONDENTS PROFILESTypes ofDionysios KonstantinosNikolaos KermanidisparticipantsPanagiotopoulos Jos Ignacio Arraiz Seferiadis Gender-bias CompanyDOSSEKHAY TECHNIKI LATOMIKI A.T.E. Cultural-bias Industry ConstructionHuman Resource &ConstructionITOrganization Cultural-bias CountryGreeceSpain GreeceNetherlands Position Senior ProjectManagement PartnerAssistant Project Software SupportManager & Local Manager Engineerrecruiter Experience (years) 17(Over) 20 3 1 Working schedule NoNoNoNo availability Communication viaSkype callE-mailSkype callFace-to-Faceconversation 11-12-20128 9. ENGAGING MANAGERS TO EMPLOYEE ENGAGEMENTFind out what Perceptionofthey really likeemployees on whatto do most. they really see asTM opportunities.Develop theircapabilities. Usetheirfeedback forimprovements.Shapetheircareerdirection in linewith thecompanysprofitabilityline.11-12-2012 9 10. TALENT/OVERALL BUSINESS STRATEGY 11-12-2012 10 11. DESCRIBE THE MEANING OF TM Mr. Arraiz said: When we talk about talent management, basically wemean the flow of professionals along their career. Professionals startparticipating in projects, learning and finally mastering our basic tools.Then they start to manage projects, which mean assuring the delivery forthe client, in terms of quality and timeframes. At this stage they start tomanage people in the frame of the project and also the economics of theproject. Finally they start to manage clients, which mean understandingclient needs and shaping projects. Mr. Panagiotopoulos stated: We see talent management as the life-longprocess of transforming a highly skilled (civil or electrical) engineer to abroad on-site inspector, mediator, negotiator, and advisor holding always abalance between technical drawings and human relationships. Our talentshave to be at least one step in front of our competitors.11-12-2012 11 12. IMPACT ON SUSTAINABILITY One might initially believe that establishing sustainable relationships withlocal governments is mostly affected by the quality of traditional contractsand high-level contacts between executives and government officials. Thequality of the day-to-day relationships of regular employees with localcommunity members may have far more impact on the quality of those localgovernment relationships (Boudreau & Ramstad, 2005). Unseen talent contribution and HR challenges Mr. Seferiadis admitted that Once I was landed at Benghazi and Tripolisairport, everything changed in my organizational conception of how to takethe best talent-related decisions to maximize corporate reputation andproductivity. 11-12-2012 12 13. ACCELERATING LEADERS DEVELOPMENT Design of the talent pipeline Attract & Recruit Develop Monitor performance Engage Reward Tracking back Do you have a specific approach? How do you evaluate it? How unique & valuable do you consider your Human Capital? 4 employment modes (Lepak & Snell, 1999): internal development,acquisition, contracting, and alliance. 11-12-2012 13 14. TALENT PIPELINE APPROACHMr. Arraiz was the only person among the four participants having a structured viewon the Talent Pipeline, as he claimed:We have defined a talent pipeline, as mentioned, where we monitor specifically fourmoments: Recruitment, hiring professionals without a limit in their potential From consultant to manager, where there is a significant potential assessmentabout managing people From manager to director, where there is a significant potential assessmentabout selling skills Leaving the organization, trying to get rid of professionals in the right moment.This is again related to the potential assessments, reward management and thenumber of external opportunities there are in the marketplace.11-12-2012 14 15. THE D & S GAP (I) A SC APPROACH Correct number of talented people? Correct people in correct positions? (Mis)/Match between Talent (Product) and Organization(SC)? Is the quality of the talent the right? 3-FIT dimensions of (Stahl et al., 2007) Internal-fit Culture-fit (Mr. Panagiotopoulos DOSSEK S.A.) Strategic-fit (Mr. Kermanidis AET B.V.) Mr. Kermanidis a junior software support engineer in the A.E.T B.V.Company, located in Arnhem, stated We have a clear motivating powerboosting us to optimize our strategic mission. The vision is the same, in alllevels; personal targets are just metrics. An organizational target is whatfulfills our strategic thinking. 11-12-201215 16. THE D & S GAP (II) A SC APPROACH Mr. Panagiotopoulos after working 17 years as a senior project manager,and the last 3 years as a regional recruiter, for the DOSSEK constructionfirm, in his reply about the applied rewarding system he answered;Psychological contracts are not just words for us. We want to work andlive as a family. In this culture, money comes after. If you ask ouremployees about their annual bonuses they will tell you which bonus ofall? Each day we try to eat, train, and laugh together as we will do in ourhouses after the end of work. 11-12-2012 16 17. GLOBAL TM (I) 3 main global challenges (Tarique & Schuler, 2010) Get easily the right skills in the right numbers Spread out knowledge and HR practices Screen and develop talent Mr. Seferiadis claimed that he always tries to build up a recruiting strategyfor expanding the firms talent pool in the Middle East area, by assessingthe available know-how, the number of candidates and the potentialdistribution of talent throughout the firm.11-12-201217 18. GLOBAL TM (II) Trade off: Localization (local talent development) Globalization(global branding) (Stahl, 2007) Transnational orientation of companyTop Management Teamslegitimate and support the geographical dimensions of a firm in order tobecome a truly transnational company (Mellahi & Collings, 2010). 11-12-201218 19. LOCALIZATION VS. GLOBALIZATION(source: Stahl et al., 2007) 11-12-2012 19 20. TALENT ALIGNMENT AET B.V.HAY GROUPDOSSEK S.A. &TECHNIKILATOMIKI S.A. (source: Stahl et al., 2007)11-12-2012 20 21. THE IMPACT OF RECESSION AND ECONOMIC RECOVERY Beginning of 2000s high investments in TM Recession: scrutiny ofbusiness expenses Increased HR-pressure for demonstrating addingvalue in critical business units Cost-cutting focus and decreasingdevelopment budgets (CIPD, 2010). Mr. Arraiz when speaking about the problems in TM practices, supportedthat The main problems are related with the social and economicsituation. In the years of economic expansion, professionals have lots ofopportunities, turnover is over 20%, feeding the talent pipeline isexpensive and sometimes we need to take high risks with inexperiencedpeople.11-12-2012 21 22. BUILDING HIGH-QUALITY COLLEAGUES A lot of employers tend to define talented people as the ones who will bepotentially transformed into valuable, high-quality colleagues. High-qualitycolleagues bring many things at the table like sources of information,helpful critics, client interfaces, and reputation (Groysberg, Lee, &Abrahams, 2010, p. 3). Mr. Panagiotopoulos says that I expect the way our recruits behavetowards the carpenters or masons to behave during our daily interactions.This is why a core ethical target in the firm, is that we want firstly High-Quality colleagues, not just stars. If a candidate passes successfullythrough our human capital processing we will likely consider him astalented. The same professional did not hide the faults of