TALENT MANAGEMENT FOR SACCOs/CFIs PRESENTED BY TONNY OKOTH OTIENO (DE) PROGRAM COORDINATOR ACCOSCA

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1 TALENT MANAGEMENT FOR SACCOs/CFIs PRESENTED BY TONNY OKOTH OTIENO (DE) PROGRAM COORDINATOR ACCOSCA

2 Discussion Questions 1. What is talent management? 2. Does your SACCO need talent management? 2. Who is our talent? 3. How do you manage talent in SACCOs? 4. Why now? 5. What s my role in Talent Management? Employees Managers

3 Human Capital Management System Talent Management Recruiting/Hiring Development Engagement Diversity/Inclusion Mentoring Policies, Procedures Compliance Performance Management Organizational Structure Measurement SACCOs/CFIs Success Technology Implementation Process Integration Communication Workforce Planning Resources Budget Growth/Expansion

4 What is Talent Management? Talent Management Requires organizational Philosophy Model Focus & Planning Driven by a Process The ability, competency and power of employees within an org

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6 Benefits for the SACCO Increased productivity and capacity Linkage between individual effort and business goals Commitment of valued employees Better fit between peoples jobs and skills

7 Benefits for the Employee Higher motivation and commitment Career development Increased knowledge Job satisfaction Contribution towards SACCOs goals.

8 How do you manage talent???

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10 Philosophy Holistic view of the employee population Regarding the workforce as a valued entity Providing guidance and support to achieve full potential Employee and organizational goals are not mutually exclusive Shared vision within a supportive culture

11 Model Key Elements of Talent Management (employee s perspective) Understanding the model What does developing a match between employee talents and organizational roles & requirements mean, and What measures, mentoring & opportunity

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13 Transforming Business Performance

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15 Traditional Employment vs. Talent Management Focus Traditional Employment Focus Skills & education Duties & responsibilities Some characteristics (strength, repetitive, endurance, etc.) Experience Talent Management Focus Traditional plus more scrutiny on Traits Behavior Talent

16 So What is talent? Skills Traits Behavior Characteristics Equate to Talent

17 So What is talent? According to McKinsey, talent is the sum of A person s abilities His/her intrinsic gifts, Skills, knowledge, experience, Intelligence, Judgment, attitude, character, drive, His/her ability to learn and grow

18 Baseline vs. ROLE Specific Talents Baseline skills, traits, characteristics, and behavior that is required of all roles e.g. Lifelong Learner Self-starter Ability to work with minimum supervision Role Specific additional skills, traits, characteristics, and behavior required for a specific role e.g. Technical & end user support Technical writing & documenting

19 Process of Talent Management Recruiting On-Boarding Workforce planning Performance management Compensation and benefits Training & performance support Critical skills gap analysis Succession planning

20 Talent Assessment An important part of your overall talent management strategy is the development of the process organizations will use to evaluate performance and potential, and to identify future leaders, successors, and/or high potential employees. An effective talent assessment process should be: Consistent across your organization s business units Aligned to your organization s business needs and future leadership needs A multi-level process that involves several data points Well-defined and understood across the organization Assessment is often equated and confused with evaluation, but the two concepts are different. Assessment is used to determine what a person knows or can do, while evaluation is used to determine the worth or value of a course or program. Assessment data effects employee advancement, success and development (Herman & Knuth, 1991).

21 What Types of Assessment? How can SACCOs assess existing staff to track high potentials and ensure new hires meet the future needs of the business? Assessment: Online Psychometric Assessments Leadership/Management Assessment Batteries Assessment and Development Centers 360 degree feedback surveys and business assessments Competency model profiling, behavioral based interviews, multi-rater assessment tools

22 Assessment Benchmarking Define performance standards Identify incumbent sample Identify appropriate assessments Gather performance data for each employee Each employee completes assessment(s) Statistically analyze data to determine which assessment(s) scale(s) predict on-the-job performance Match employees performance data with their assessment data Develop recommendations and plans regarding future assessment and selection

23 Five Basics in Implementing Talent Management Identify and Assess Existing & Needed Talents Hiring and Developing Staff High Value Appraisals Understanding Compensation & its Impact Turnover and Succession Planning for the Future

24 Identify and Assess Existing & Needed Talents Identifying the competency skill sets needed in the SACCO Develop competency matrices to capture talent issues within a role and describe Develop a rating scale with scoring and weighting options based on requirements Track, evaluate, and manage competencies across the SACCO Implement a performance/competency management system

25 Quick Change Artist Job Commitment Sense of Urgency Ambiguity & Uncertainty Innovation Lifelong Learner Accountabilit y Value Add Service Manages Morale Kaizen Takes Ownership Expectations Inventory and Matrix Example Name / Skill Tonny Tom Bill Fred Mary Not Exhibited Familiar Accountability Needs Help Competent Can Mentor/Teach Needs Help

26 Recruiting and Developing Staff Recruiting vs. Hiring & the need to choose well in the process Employer vs. Employee gap analysis with respect to position Development opportunities in and outside the SACCO Reinforcing development with obligations Involve top performers in mentoring and coaching

27 High Value Appraisals Top-Down Employee Performance Evaluations Peer-to-Peer Employee Performance Evaluations 360-Degree Performance Reviews Self-Assessment Performance Reviews

28 Understanding Compensation What motivates who? Comparing apples to apples Non-financial compensation Managing expectations

29 How do you motivate employees???

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31 Turnover and Succession Planning Turnover has to happen and is a two way process Turnover is an opportunity Internal candidates may or may not be appropriate for vacancies Transparency minimizes ancillary issues associated with turnover

32 Labor Market Who s Got The Power?

33 Managing The Talent War The war for talent exists, SACCOs need to address the workforce gaps and their future potential to remaincompetitive. Issues that need to be addressed include: How do I find and grow my knowledge workers and leaders? How large is the gap between my needs and reality? Buying talent will not be sufficient as a solution to meet my business needs. Growing talent internally is key, but how? We must retain talent, but how?

34 Winning The Battle For Hearts And Minds In order to achieve increased performance management must fully unlock the potential of their people. SACCOs need to increase objectivity for internal promotion They need to minimize poor hiring decisions Identify high potentials for fast track development Utilize a consistent and reliable measurement of important competencies Create and deliver a powerful learning experience for participants Provide transparency, equal opportunity & fairness for all

35 If you want 1 year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow people. Ancient Chinese Proverb

36 Summary Identifying talent is going to become more vital with the predicted skills shortage and therefore more science must be added to the selection process Although it may look like an additional cost, adding science to selection can save thousands in the future It is important to identify the right solution for your organization and the types of roles you hire Whatever you do, always start with the right competencies for each role and build from there Always remember, high potential is developed through a solid understanding of competency and behavior

37 END THANK YOU