Inclusive Talent Management

Transcription

1 Phil Kenmore, Hay Inclusive Talent Management 6 th March 2014

2 What shall we talk about?

3 Wake up!

4 Breaking the code

5 The Bananarama Conundrum

6 Simple Talent Management So: Potential for what? Flow: Expose talent to strategic roles Know: Indentify talent Grow: Develop talent

7 So: potential for what?

8 Know: knowing your talent

9 Grow: nurturing your talent

10 Flow: deploying your talent

11 World Class 6 Talent Management Questions: 1. Define 2. Attract 3. Select 4. Develop 5. Engage 6. Deploy What kind of talent do you need to realise your strategy? How do you attract the best talent to meet your needs? How do you select the best talent to achieve your aspirations? How do you best grow your talent to meet your future needs? How do you best reward, engage and retain your talent? How do you best deploy, redeploy and manage the exit of your talent? Copyright The Hay Group 2014

12 A more complex model: Balance what you need with what you have Organisation demand Business context and strategy Talent strategy Talent Management Performance management While these activities are in essence sequential, they also operate in a virtuous feedback loop: Balance what you have with what you need People supply Copyright The Hay Group 2014

13 Flow Grow Know So So Benchmarking World Class Talent Management practices A global Hay Group research shows that there is a spectrum of developing practice in relation to talent management. Process/ Level Talent strategy Employer brand Limited Developing Pockets of best practice best Integrated Cutting edge No plan/ initiating Beginning to developer one Talent plan aligned to business strategy Have a practice employee value proposition Talent plan essential part of business strategy Employer of choice with clear value proposition Talent strategy and business strategy are integrated and consistent Are the leading employer of choice for the talent that we need now Business strategy is informed and influenced by our talent insight and predictions Able to adjust our employer brand and employee value proposition to meet our evolving business and talent requirements Attraction Frequent challenges in getting the right people Sometimes find it difficult to attract the talent needed Able to attract some of the talent needed, some of the time Generally able to attract the talent needed most of the time No issues, talent availability helps us advance our goals Selection Ad hoc, subjective Some roles defined, solitary line manager views predominant Talent discussed through dialogue in talent forums (but little data) Most talent discussed through dialogue in talent forums includes objective benchmarked data Objective talent dialogues permeate whole organisation, measures are calibrated and comparable Development Ad hoc Tactical development but return not measured Significant investment and coordinated, some ROI Interconnected and linked to business strategy and organisational weaknesses Talent and leadership programmes deliver tangible benefits to the organisation and its people Measurement Retention Leadership support Few We typically struggle to retain our talent HR monopoly In place, but little ROI analysis We can retain some of our talent some of the time ad hoc monetary retention HR leads, senior management supports Investments are known, return often intangible We can retain selected talent Senior manager sponsorship, HR managers We know how much we invest in talent and what return we get for each element We can retain most of our talent most of the time Talent is a regular item on senior team s agendas We make informed business decisions about where we place our talent investments and are able to predict the returns We retain our talent all of the time and proactively manager turnover Senior managers devote substantial amounts of their time to talent; rewards linked to talent KPIs Systems Limited, ad hoc Some systems have been independently developed but don t talk Most systems have been created, rolled out, are effective and integrated Full suite of efficient, effective and integrated service deliver capability Our systems are flexible and have industrial scale capacity Source: Hay Group global research, 2011 Copyright The Hay Group 2014

14 Key NHS TM Challenges? NHS - One or many? What s your aiming point? Clinical leaders the future generation Performance management

15 Some Data:Talent Management ROI Talent management pays 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% Is it worth it? Five-year Avg. Total Shareholder return 4.07% 20 best companies 0.54% S&P % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Firms that get it right increase business understanding and reduce cost by filling more positions from within 80% 63% Mid-level manager positions filled from within 75% 60% Senior-level manager positions filled from within 88% 72% Chief executives promoted from within Copyright The Hay Group 2014 Source: Chief Executive magazine Hay Group Best Companies for Leaders survey

16 Thank you

17 Thank you. Phil Kenmore, Hay