BUILDING A TALENT MACHINE

Transcription

1 BUILDING A TALENT MACHINE HOW TO ENGINEER A DIFFERENT PLAN FOR COMPANY GROWTH Presented by: Charlotte Jensen Managing Consultant

2 The Latest From the Gallup World Poll 2

3 The United States Continues to be the Most Desired Migration Destination 3

4 Who Wants to Move to the U.S.? 138,000,000 people around the globe 4

5 China has the Most Likely Migrants to the U.S. 5

6 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 6

7 Where is the Disconnect Between Perception and Reality? 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 7

8 Increase of Personal Income in China Lags Behind GDP Growth 8

9 Average China Life Ratings are Flat Despite Dramatic Rise in GDP 9

10 China Faces Several Challenges Consistent With Emerging Countries 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 10

11 Low Engagement in Chinese Workforce is a Major Threat to Sustained Growth Engaged Not Engaged Disengaged Global 11% 62% 27% United States 29% 52% 19% China 6% 68% 26% 0% 20% 40% 60% 80% 100% Copyright 2013 Gallup, Inc. All rights reserved. 11

12 Engagement at Work Ties to Wellbeing 12

13 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. 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. 13

14 Getting the Right Leaders in Place Requires a Comprehensive and Systemic Strategy Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 14

15 A Succession Plan Needs to Take Into Account Who We Have Now, Our Future Options, and How to Develop Them Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 15

16 Succession Planning vs. Replacement Planning 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 16

17 Understanding Where to Go Requires Understanding Where We Are Now Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 17

18 Business Challenges That Stem From Talent Limitations 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 18

19 Auditing Your Talent Pool Talent = a naturally recurring pattern of thought, feeling, or behavior that can be productively applied Can be measured with validated assessments Assessment taken individually, audit report is of the whole group Motivation Organization or unit evaluated on talent level, strengths and limitations, recommendations for targeted improvements Thought Process Relationship Talent Model Workstyle Influence 19

20 Talent Audit Outcomes 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 20

21 Hiring the Best Requires Attention to Your Recruitment and Selection Processes Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 21

22 Describe the BEST manager you ve ever had, in three adjectives: Driven Creative Passionate Organized Caring Decisive Inspiring Fun Communicative Ethical Positive Encouraging Visionary Determined Honest 22

23 First, Attract the Right Candidates - Through your recruitment messaging Job requirement: Define technical project requirements with clients. vs. Are you a tech-savvy leader who enjoys working with clients to define their needs? - Through your brand as an employer vs. 23

24 Then, Select Those Who Resemble Your Top Performers Objective and structured interviews are key Less time spent on overall process by hiring managers Focus conversations on highly-qualified candidates Study the most successful in the role Build and test a pilot interview Finalize selection assessment Ongoing validation Identify fit to role AND culture Allows for quick individualization of onboarding efforts 24

25 Experience Matters, but Only the RIGHT Experience Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 25

26 Developing Your Succession Pipeline Three candidates should be in the wings for each role within the top three levels of the organization Identify Hi-Potential Leaders and Managers based on: Talent CFO CEO John Smith Sarah Wood Max Fitch COO Metrics Developmental Evidence EVP EVP EVP EVP 26

27 Determining the Right Experiences for Your 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? 27

28 Common Breakthrough Experiences - 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 28

29 Retaining and Maximizing Your Talent Pipeline Requires Consistent Effort Succession Plan That Works Ongoing Development, Engagement, and Performance Management Talent Machine Audit of Your Talent Pool Breakthrough Experiences for High-Potential Managers/Leaders Raising the Bar in Recruiting and Hiring 29

30 Ongoing Development, Engagement and Performance Management 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 30

31 Business Metrics The Succession Matrix: Putting the Pieces Together Customer Engagement Employee Engagement Good Role Fit- Support Star Performers Recast or Reconsider Develop and Grow Predictive Talent Assessment Experiential Review Development Evidence 31

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