Title: Talent Management What if your people with get up and go, get up and go
1 Talent Management What if your people with get
up and go, get up and go?
CIPFA Scotland 2008 Owen Rees
13th March 2008
2About Zurich Municipal Risk Management
- Part of Zurich Financial Services Group - a
global 100 company - Manage the full range of public sector risk
management issues through working tools and
transfer of skills - Leading the way on understanding public sector
risks - Innovative solutions to your key business risks
change management
business continuity
management of risk and opportunity
project and partnership management
talent management
3What are we talking about today?
- Not having the right people in the right place
at the right time to do the right job
- . is one of the most significant business
risks to appear on most organisations business
risk registers.
4An issue for you?
- Does your organisation have an aging workforce?
- Do you find it difficult to recruit?
- And if you can do you get the right skills and
experience? - Is it increasingly difficult to hold onto your
best staff?
5One of the top risks facing the public sector
- Source Perception and reality - The real risks
for public service and charitable organisations -
Zurich
6So why is it a risk?
- Demographic change
- McKinsey Co. used the term War for Talent to
describe the fact that the supply of 35-44 year
olds in the U.K will drop by 21 in the next 15
years, whilst the economic growth forecasts will
cause a demand for an extra 25 of talented
executives - Aging workforce - At present there are some 17m
people in the UK aged 20-40 and 14m aged 45-65.
By 2020 the projections are that the younger
group will decrease to 16m while the older group
will increase to 17m. - The populations in England, Wales and Northern
Ireland is predicted to continue rising for the
time being. Scotland's population is expected to
continue to decline.
7So why is it a risk?
- Particular issues in the public sector
- The UK workforce is aging. The local government
workforce that currently accounts for 9 of the
whole UK workforce has 34 of its staff over 50. - We are about to experience a major retirement
hump and with it comes the loss of skills,
knowledge and experience. And all of the
complications of recruitment in a diminishing
pool of good talent. - Over 50 of the public sector has reported
difficulties attracting talent at both director
and management levels.
8So why is it a risk?
- Skills shortage crisis looms LGC, 20th
September 2007 - Fewer training places for professional
disciplines such as town planning, building
control, environmental health, public finance
the backbone of many local government
professions. - Increased competition for staff
- A tighter talent pool of well-qualified and
available professional officers within these
hard to fill professions, with the local
authority offering the highest pay and benefits
package winning the war for such talent. - A workforce that is more mobile (20 years ago
most people would experience two different jobs
by the age of 25 in 2005 the figure is now four
jobs)
9Why is this important
- Without people the other two assets are
vulnerable!
10How we do it at Zurich
11Talent in Zurich
- Zurich is led by a CEO who not only talks about
the fact that people make the company, and that
we must develop talent across the Group, but he
takes an active interest in this, and demands to
know what actions and strategies we have in place
to do this. - Talent management runs right across our
organisation and includes EVERYONE. When senior
executives visit different businesses and
countries, they expect to meet a cross section of
highly talented people and to know what the
talent picture looks like locally and what is
being done to strengthen it. - This is an open approach to managing people, and
it takes a bit of getting used to!
12Talent Strategy
13A Talent Strategy - example
- A Talent Strategy should address key leverage
points in order to increase the quality and
consistency of the talent base, for example - Make the highest quality appointments
(recruitment) - Improve the calibre performance of existing
talent (Personal Development Plans,learning and
development, performance management and
appraisals) - Prepare high potential for the next level (talent
book and succession planning) - Retain the best people, skills and knowledge
(talent book)
14How might we deliver the Strategy?
15You already do this?
- Im sure you already do a lot of these things?
- But its getting harder and resources are getting
tighter - How can we focus this activity and make it more
effective?
16Talent Management
17What is Talent Management?
Scene 1 the monthly 121 two sides of the same
coin
How can I make the most of my talent and realise
my full potential?
How can I make the most of his talent and
realise our potential?
18What is the aim of Talent Management?
- Identify, understand and share current levels of
performance and potential - Help toward achievement of full potential by
agreeing appropriate actions for development - Help with career management
- Offer a more objective assessment of performance
by using Talent Book
19Talent Book
20What is Talent Book?
- Talent Book is a tool to be used as part of
performance and talent management which - gives managers an understanding of talent and
future potential - helps managers identify action plans
- allows the business to establish (and share) the
depth of talent and potential
21How does Talent Book work?
- Talent Book is based around a 9-box talent grid
with two axes - Performance (x axis)
- Does not / partially meets expectations
- Meets expectations
- Exceeds expectations
- Potential (y axis)
- No / limited growth
- Potential growth / role expansion
- Seeks new challenges
22Talent grid-risk based approach
23Talent grid
24How do we rate these well known people?
- Get into groups
- Look at your handouts
- Rate these well known people on the Talent Grid
- Any ideas on how we should deal with them!
-
25How it works in practise
- Two-way discussion with each member of your team
to explain Talent Book - Ask your team member to review their position and
explain why they have positioned themselves where
they have - Explain where you have positioned them and
discuss reasons for this - Discuss the differences and agree a final
position - Review where the individual would like to be on
Talent Book and agree a development plan to
achieve this. Career discussion - Moderation people panel
- Open and honest, transparent, consistency,
develops management skills - Forces people to manage!
26Benefits of Talent Book for the business
- Helps to identify appropriate actions for
individual development and performance
improvements - Supports more dynamic and broader succession
planning in the business - Supports development activity in the business and
avoids a one size fits all approach - A more consistent approach to your understanding
of talent and how to reward and develop it. - Creates a pipeline of talent that has as strong
element of home grown ,as well as externally
recruited people. - Helps to identify gaps and blockages in your
talent pipeline and drives action accordingly.
27How does this differ from appraisals and personal
development plans?
- Based on an assessment of potential
- Forward looking and tailored to the individual
- The talent management plan differs from a
Personal Development Plan because it captures
more than an individuals development needs - It summarises the overall talent discussion e.g.
- career aspirations
- roles they may be successors for
- when they may be ready for these roles
- support and development needed and planned
28How does this information help us?
29What do we do with the information?
- People Panel / Forum
- Succession plans
- Executive Talent review
- Talent management plan
- Career discussions
- Career track
- Talent pools
- Identify candidates for development
opportunities, projects etc
30Succession planning
31Succession Planning
- It is vital that every organisation plans for the
future to ensure that its needs are continuously
met. Filling key roles is one of the most
difficult management functions and potentially
the most critical.
32What are the advantages of succession planning
- Strong pipeline of leaders / functional experts
- No sudden surprises - manages reduces risk
- Encourages thinking beyond immediate line or
function - Encourages development of successors in advance
of them taking on that role / level - Encourages thinking around future needs and skill
set requirements - Provides a career structure
- Can motivate employees
- NOT predetermining who is getting a job. It is
developing a team of people, with the right
potential, who will be able to compete for the
opportunity.
33Developing a Succession Plan
- Identify
- The key roles
- An immediate successor
- A successor in 1-2 years
- A successor in 3-5 years
- An emergency replacement
34In summary
- Talent management is a risk based approach that
helps us ensure that we have the right people in
the right place at the right time to do the right
job
So is part of the solution to managing one of
our biggest business risks
35Any Questions?
- Any further questions?
- If not - thank you very much!
- Owen Rees, Principal Risk Management Consultant
- Mobile 07730 735 407
- Office 01252 387 722
- E-mail owen.rees_at_uk.zurich.com