Strategically Linking Talent Management to the Business. Vice President of Talent Management, Learn.com

Transcription

1 Strategically Linking Talent Management to the Business Michael Sabbag Michael Sabbag Vice President of Talent Management, Learn.com

2 Agenda Defining talent management and the employee lifecyclel Cascading organizational strategy and goals Linking people to strategy Demonstrating our value

3 WHY do Training and HR professionals GET FIRED?

4 The Reasons The Economist magazine recently said that CEO s across the world rated HR as their worst performing business function. Many HR professionals lack even the most basic workforce information they need to do their jobs. Management-Issues (HR is) an area that is seen to only cost the company money. Personneltoday.com Business acumen is the single biggest factor that HR professionals lack today. Fast Company Instead of being a "productivity consulting department" with answers on how to improve it, most HR department's hardly know what it is. Workinfo.com HR is often the scapegoat when companies aren't getting the results they want. Business Week HR departments can be needlessly l bureaucratic, obstructionist, stuck in the "comfort zone" of filling out forms and explaining company benefits. Knowledge@Wharton The biggest gaps (in HR effectiveness) came in the most important, strategic aspects. Cornell University Study

5 How to Overcome These Challenges Link what you do to specific business outcomes Partner with leaders from all business units Solicit input and feedback from leaders across the organization Know your business: structure, how it makes money, politics, culture, strategy

6 What is Talent Management Talent Management is a holistic and strategic approach hto the employment tlifecycle. l This includes previously separate functions such as human resources, training i and development, & organizational development

7 The Lifecycle of an Employee Starts before someone joins your organization Progresses through their employment history Does NOT have to conclude with separation

8 Typical Practices in Talent Management Recruiting and Selection Onboarding/Induction Goal Setting Job Profiles Competency Models and Processes Performance Management Succession Planning Career Progression Maps Workforce Analysis Reports and/or Needs Assessments Development Planning Compensation Planning and Administration

9 Talent Management Effectiveness The rating tool allows you to determine your baseline for each practice Start with determining where you are Work with the leaders of your organization to determine the talent management vision Create a roadmap to get there

10 Talent Management Effectiveness Activity Review the scale in the rating tool Rate each of your talent management practices Total scores and circle the practice Circle the practice you would like to address first

11 Translating Mission into Desired Outcomes Mission Why we exist Core Values What we believe in Vision What we want to be Strategy Our game plan Balanced Scorecard Implementation and Focus Strategic Initiatives What we need to do Personal Objectives What I need to do Strategic Outcomes Satisfied Shareholders Delighted Customers Effective Processes Motivated & Prepared Workforce Source: The Strategy-Focused Organization

12 The Balanced Scorecard Approach Balanced Scorecard Financial Customer Internal Knowledge Targets Targets Targets Targets Initiatives Initiatives Initiatives Initiatives Sub category of initiatives supported by Human Resource Sub category of initiatives supported by Human Resource Sub category of initiatives supported by Human Resource Sub category of initiatives supported by Human Resource O Support for improving financial management O Financial contribution of HR (ROI) O Support for improving employeecustomer interactions O Support for improving internal management O Developing core skills and competencies O Targeted development of skills Human Resource Strategy Robert S. Kaplan and Norton, David P. The Balanced Scorecard Measures That Drive Performance, Harvard Business Review. January February, 1992:

13 Linking People to Strategy If HR is about the people- processes in an organization; and People drive the execution of strategy; then What we do drives enables people to execute strategy

14 Demonstrating Value: The Typical Approach Most people p demonstrate value from the bottom-up Without a clear link between what we do (our solutions) and business initiatives, we will not be able to demonstrate t value This is why we get fired!

15 Presenting to the Executive Committee Start with the initiative before developing a solution Follow the goals as they cascaded Demonstrate tangibly how HR directly impacts goals (metrics) Time to Performance Readiness Turnover within 90 days Cost of turnover Cost of noncompliance ROI

16 Questions Feel free to contact me at: Michael Sabbag, Vice President of Talent Management, Learn.com Thank you!!!