Talent Management Essential Toolkit

Talent Management Essential Toolkit

Talent Management Essential Toolkit This presentation has been prepared to to provide the reader with an initial overview of five talent management tools that can assist the company when planning their talent management strategy.

The Talent Management Toolkit

Contents Talent Management Toolkit. Describing Talent Management Industry Research Understanding the Trends Toolkit #1 - The Talent Panel Structure Toolkit #2 - Candidate Progression Framework Toolkit #3 - Geographical Grid Toolkit #4 - Best Practice Framework Toolkit #5 - Career Intervention Model Summary

Describing Talent Management Organisational talent is about those individuals who are able to make a difference The people who can raise the performance of the organisation through either their immediate contribution or by demonstrating a high level of potential.

Describing Talent Management Organisational talent is about those individuals who are able to make a difference The people who can raise the performance of the organisation through either their immediate contribution or by demonstrating a high level of potential. Succession management is the approach the company makes to manage talent. This includes the identification and selection of high potentials for future anticipated needs. It includes the continuous development of these individuals so a talent pool exists that will allow the organisation fill future positions as they emerge or a need arises.

Industry Research Understanding the Trends

Industry Research - Understanding The Trends Source- Bersin & Associates 2008 Nine Key Challenges Facing Organisations Globally 70 60 50 Percentage - % 40 30 20 10 0 USA APAC EMEA

Industry Research Understanding the trends Source: American Management Association 2011 Organisation Succession Planning Strengths Members Survey. Question: Given the competitive nature of the global economy and fast changing business conditions, do you think planning for a smooth management succession is more or less critical than in the past? More important 71.3% Less Important 26.8 % About the Same 0.9% Don t Know 1.0% Question: In your opinion how prepared is your organisation to deal with a sudden loss of key members of the senior management team? Well prepared 14% Somewhat prepared 60.8% Not at all prepared 21.8% Don t Know 3.4%

Industry Research Understanding the trends Question: How would you best describe the attitude of your organisation s senior leadership towards management succession planning? Senior management is genuinely committed. 33.6% Our senior team is sporadic in its commitment. 43.0 % Our senior team just play lip service to succession planning. 14.4% Don t Know. 9.0% Question: Which of the following best describes the management of succession planning within your organisation? We have a comprehensive development programme integrated with our strategic business objectives. We have a formal programme based on specific competencies. We have a succession plan intended for a sudden loss of senior executives. Our succession plan is an exercise conducted by our HR department. 8% 16.5% 17.7% 23.4% Our organisation does no succession planning. 23.1% Don t know. 11.3%

Industry Research Understanding the trends Question: How would you describe the strengthen of the leadership pipeline within your organisation? Robust 10.3% Adequate 47.2 % Inadequate 39.3% Don t know 3.2% Question: To what extent does senior management go outside the organisation to recruit key people? Often 34% Seldom 42.5% Never 4.6% Don t Know 18.5%

Toolkit #1 Set Up A Talent Panel

Toolkit #1 - Set up a Talent Panel Define the Objectives Objective #1: Ensure the organisation has a succession plan across all levels that ensures that there is at least one successor identified for each key role in the organisation. By identifying these candidates early allows for specialized development and position stretching to be deployed. Depending on the candidates level and degree of position readiness this may be a temporary or permanent solution for the organisation. Objective #2: Identify those candidates who if there are unable to be retained would have a impact on the organisation in terms of knowledge, special expertise or cultural presence. Objective #3: Introduce open and candid conversations with candidates through which career progression and position readiness is clearly set out, understood and documented. 1. Be ready to do the next job now: (0-12 months) 2. Be ready for a stretch position in: (1 3 years) 3. Be ready for a stretch position in: (3-5 years) 4. Be ready for a job rotation / stretch at the same level 5. Be ready for lateral assignments / special project work

Toolkit #1 - Set up a Talent Panel What is the Purpose? The provision of the Talent Panel supports the embedding of the organisation talent management and succession planning system. Its purpose is to: Strengthen and focus organisational thinking and provides strategic direction towards talent management / succession planning. Engages stronger direct synergy and purpose between the organisation, the individual candidate and the wider workforce. The existence of the Talent Panel improves morale, accelerates leadership, builds strong cohesive teams and promotes organisational learning. Creates greater insight into the organisation thus promoting creativity.

Toolkit #1 - Set up a Talent Panel Who Should Participate on the Panel? At Least one senior or board level executives At least two senior functional executives Head of Human Resource HR executive charged with talent management To champion the implementation / best practice of the talent management / succession planning processes across all operational areas of the organisation. Oversee the talent pool. Check the sources of candidate information. Ensure consistency and equality of opportunity and identification. Manage career advancement of each candidate. Display transparency & confidentiality of candidate appraisals.

Toolkit #1 - Set up a Talent Panel Deciding on the Talent Panel Representatives Discuss the questions below when its time to decide on the representative. Approach What are the desired personal characteristics and attributes of the representative? What are the roles / positions of those who serve as representatives. What positions should not? Why? What does it mean to be part of the Talent Panel team? Points for Consideration Example: Specific career expertise & experience. Organisational knowledge. Reputation for best practice approach. Reflection, Empathy, Leadership Skills etc. Example: Board Director / Departmental Head / External R&D / Commercial Development / Finance / Sales and Marketing / etc. Example: Career experience advancement Itself part of a succession plan project Contributing to wider organisational change.

Toolkit #1 - Set up a Talent Panel Your organisation checklist Assessing the strengths and weakness of organisation Authority Theme Leadership Time Technology Criteria Example: Does leadership have a interest in talent management / succession planning? Is talent leadership shared? Are /will leaders be up to date on the programme? How? Example: Talent management time is honoured and encouraged. Panel representatives make sufficient to the needs of the Talent Panel. Time is set aside at senior management meeting to discuss talent management. Example: Is technology available for use and readily accessible? Is technology used to communicate and disseminate information? Do talent participants know how to use the technology?

Why Conduct Talent Management and Succession Planning?

To lead an organisation forward in an ever changing market environment, new leaders need to be developed who can lead in the following ways: Future leaders need to possess innovative and demonstrate vision. Executives will be required to lead across organisational boundaries without authority using emotional intelligence skills to influence and secure commitment. Leaders need to be anchored in the present but with the ability to scan and interpret the future horizons. Existing models and practices may not be reliable in the future. Organisation may become more technological but leadership structures will always be required. Leadership needs to embrace greater levels of diversity as globalization expands and becomes ever deeper embedded into the organisation s mission and purpose.

The Ambition, Potential and Competency of a candidate may change as they progress through their career. Alignment is a continuous process and is necessary so that those individuals with the most talent receive a development pathways to follow designed to their specific needs. It is important to remember that this pathway may also vary according to the individual s specialization. Candidate AMBITION What I want to do Alignment Candidate COMPETENCE what I can do well now. Candidate POTENTIAL what I can become through new learning. Performance Aspirations Potential Ambition Being able to perform in the current role and having ambition is not enough. Can the candidate handle more complex situations? And, can they convert potential into actual?

Toolkit #2 Talent Grid Progression tool.

Toolkit #2 Talent grid progression tool What is the Purpose? The introduction of the Talent Grid Progression Tool delivers a stable framework to support talent development. The descriptions used in each category may be changed to meet the specific organisation requirements. Important to provide metrics / measurements to each description when appropriate. It provides a defined progression ladder position for each candidate that is defined by specific descriptive characteristics. A separate Talent Grid may be created for each level of organisational staff. Identifies learning needs and competency development requirements. Promotes a 36o degree perspective of Talent Management / Succession Planning

New Born Talent Developing Talent Ready Now Description Displays an early indication towards advancing in their chosen field or to expand their leadership competencies. Demonstrates potential, drive and motivation to develop their current role further and progress within 1-3 years Continually demonstrates potential, drive and motivation to perform at the next level now or within the next 12 months. Exceeds Expectations High Performance achieved in their own field. Demonstrates team role model characteristics. Consistently achieves results / added value to projects completed. High performance across a variety of assignments managed. Shows low / moderate potential or ambition to progress further Consider secondary pool to fill positions. High potential capacity to go rise further. True organisational asset. First call to fill critical position. Meets Expectations Future professional / expert in their field. Behaves professionally in line with role expectations Shows upward potential, but less ambition / reluctant to move outside of specialized field. Solid professional status. Meets expectations consistently. Works outside areas of specialization. Future emerging potential. Behaves professionally in line with role and responsibilities. Has the capacity to be a consistent talent. Potential capacity for stretch move. Borderline in Meeting Expectations Currently low potential. Requires support. Low performance but show potential over time Needs stretching. New to role needs support. Yet to demonstrate potential.

How do we build a talent structure across geographical regions?

Managing talent management / succession planning across geographical regions requires a realignment of priorities: The local (geographical) role of Talent Management / Succession Planning remains the same in that it is conducted through a regional Talent Management Panel that adopts the same policies and procedural practices that are conducted at the organisation s Central / Corporate Office. To identify talent that possesses an early globalization perspective towards business. Agreement of best practice across local operating procedures which are fixed corporate standards but contain where appropriate cultural / regional variances. Deploy a hands-off policy where individual talent development needs are monitored and carried out outside local ability. Provide guidance tools and techniques to line management in regional areas. To promote share learning applications to develop the candidates scope and depth of learning.

Toolkit #3 Geographical delivery planning

Candidate Framework Make Sense To Plan Geographical Talent Process Geographical Business Drivers (Reasons) Define Talent Meaning Who Owns / Manages The Talent Identify the Talent Qualify Candidate Performance Qualify Candidate Potential Talent Pool Entry Candidate Development Aligned to Organisational Structure Role / Position

Key operating points across geographical regions Identify the central organisation and local business drivers. Ask. Why are we doing this? Succession, Retention, Diversity, Development etc. Identify which talent is the focus align local regional with central office TM practices and systems. Create relevant talents development programmes. Consider hands-off deployment of individual talent candidates who are to be managed separately by Central Office. Important to link talent management to organisational structure both local / regional and Central Office. Identify talent development records tools and appraisal timescales.

How to build a best practice framework

It is essential to discuss and agree upon a best practice talent management / succession planning framework. Best practice may be described as an individual method used in the process of Talent Management / Succession Planning, or it may be the whole programme. Best practice framework is Measurable That means the goals are clearly communicated and that progress towards each objective is clearly identified and measured. Best practice framework is Successful. That the methods applied or programme deliverables consistently show measurable results above other alternative methods. Best practice framework can be easily Replicated. The methodology used is structured and documented in a manner so that it can be reproduced when required to a desired standard. The framework of best practice fits with the structure and culture of the organisation. Best practice needs to be cost effective and supported by the required resources financial and non-financial.

Toolkit #4 Succession Planning Best Practice framework

Business Objectives Business Analysis Programme Development Business Drivers are clearly identified. Talent is Identified & Selected Which talent development activities are identified to close the competency / knowledge gap? Organisational Alignment Talent support is not in conflict with organisational structure. Example Questions Example Questions Example Questions Example Questions Are there recruitment difficulties being experienced? Do formal systems and procedures within the organisation presently exist for identifying talent? Des the organisation offer a full range of development activates - pathways suited to the individual and aligned to future organisational needs? Does the deployment of Talent Management / Succession Planning align with other HR objectives and policies? e.g.: remuneration Are there skill shortages in multiple areas within the organisation currently / future? Is talent classified / defined in terms of: (1) tangible performance (2) and / or perceived potential? Are talent development activities linked to the candidates performance review process? Are there career pathways incorporated into the talent development process that are aligned to organisational structure? Are diversity issues within the organisation driving change in recruitment / development / retention / succession? Does the organisation measure candidate performance using best practice using (1) Performance Management Systems (appraisals), or (2) assessment centres? Are activates / programmes / special projects for individual candidates or groups linked to the strategic objectives of the organisation?

The best practice framework tool provides in-depth analysis of the organisation s talent management / succession planning process. The framework provides: Conducting close question analysis of four key elements that together coordinate the delivery of the total Talent Management / Succession Planning programme. 1. Theme: Business Objectives = What are the business drivers? 2. Theme: Business Analysis = How do we identify/ measure new talent? 3. Theme: Programme Development = How do we close the skill gap? 4. Theme: Organisational Alignment = How do we reduce alignment conflict?

Toolkit #5 Career Intervention Framework Strategy

Higher area of responsibility. Reassignment of lower job tasks. Job Expansion Strategic Decision Market Analysis Attend desirable meetings. M&A Activities. International secondment with business partner. Project Management Career Intervention Strategy - CIS needs to be considered as a tool to support and retain high achieving executive talent. Individual strategies on their own will offer little to the executive waiting for their next level of responsibility. Consider a combination of activities Job Expansion, Strategic Decision and Project Management that are collectively framed and linked to the strategic vision of the organisation. Also consider a change in the individual direct report.

Summary

Inter-relationship between the 5 tools that support organisation talent management and succession planning To Deliver Talent Panel First You Plan Create A Framework Career Intervention Model Talent Management / Succession Planning Structure Candidate Progression Framework Make Sense Best Practice Framework Geographical Grid

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