Talent Management A New Perspective

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Talent Management - A New Perspective
Ileana Vitelaru, HR Manager AstraZeneca Romania
Bulgaria
26 March 2008
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Talent Management Context Expected Results

• Companies recognise the increasing value of
  human capital and are rethinking the way to
  manage talent, by understanding insights and
  adopting an integrated talent management strategy
  (ITM).
• ITM is a conceptual framework, each company may
  decide which aspects of talent are important for
  the business and drive a standard vision in the
  organisation (PM, HIPO leadership development,
  succession planning, etc).
• Talent management expected results
• -talent pipeline, which will ensure tomorrows
  leaders,
• therefore securing business continuity
• - increased talent retention and commitment to
  the business by
• focusing on personal development and career
  management

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Talent Management An Integrated Approach

• To improve talent outcomes, talent management is
  approached in a systemic way by many companies -
  all HR processes from recruitment to succession
  planning are aligned to improve talent outcomes.
   

Aligned HR Processes Recruitment Retention Workfo
rce Planning Performance Management Development C
ulture Measurement
Talent Strategy
Consistent Talent Outcome
Business Strategy
Business Outcomes
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Understanding Talent Critical Issues Corporate
Leadership Council research data

• How do organizations attract and retain critical
  talent effectively?
• How do organizations develop executive talent
  effectively?
• How do organizations best drive talent
  performance?

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How do Organisations Attract and Retain Talent ?

• ?Product Brand Recognition Matters?
• 7
• ?Effective Employment Value Proposition (EVP)
• EVP aligned to talent preferences
• Market alignment versus differentiated proposal
• EVP delivery (i.e. training)
• 50 increase in attracting talented candidates
• 29 increase retaining talent
• ?Overall Talent Rational Emotional Commitment
• Employees believe in their organisation,
  manager, team, job
• 50 increase in performance

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How do Organisations Develop Executive Talent
Effectively

• ? Leadership believe in employee development and
  act on those beliefs!
• Excellence in senior managers role modelling
  in developing future leaders increases an
  organisational chance of being attractive to
  talent by 84.
• ? Talents in organisational environment
  (professionalism of managers, peers,subordinates)
  can boost potential to succeed in higher
  positions
• .by more than 20.

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How do Organisations Develop Executive Talent
Effectively (Cont.)

• ? Employee performance in current job predicts
  future potential?
• Only less than 30 of current high performers
  are talents , therefore companies develop
  separate tools for performance potential
  assessment i.e. AZ Leadership capability and
  potential definition others use psychometrics,
  development centres
• ? Is Succession Planning delivering the right
  talent for the desired role at the right time?
• Talent Readiness, new role, business goals fit

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How do organisations Drive Talents Performance?

• ? Managers can be seen as catalysts, they
  influence directly key drivers of employee
  performance
• May improve performance up to 36 through
  positive feed-back
• May have negative impact up to 28 by
  emphasizing negative performance aspects,
  frequent project changes
• ? Most Important Driver of Employee performance
  Informal Feedback
• Manager-employee relationship is central to
  effective performance management strategy
  (coaching)fair and accurate feed-back has 39
  positive impact on performance.
• ? Employees perception of their connection to
  the organisation and its success
• Increasing connection between talent and
  organisational strategy increases performance by
  33.

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From Understanding to Action Plans what do
multinationals do differently?

• Organise HR to support an integrated
  approach to Talent Management dedicated TM
  function or senior professional within corporate
  HR, ensuring process visibility and status in the
  organisation
• Establish Leadership Competencies and a
  clear definition of talent to build common
  language and a favourable environment for talent
  development
• Core Talent Management requirements lived in
  the same way by all operating units in
  multinationals (timeline, process, tools).

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From Understanding to Action Plans (Cont.)

• Talent Management Councils (cross
  functional, cross regional) owned by senior line
  management supported by HR to share talent
  information in an integrated way.
• Utilising Technology as a Talent Management
  Integrator (to combine and record consistently
  performance management and potential
  evaluation,succession planning and reward)
• Measure Talent Management Effectiveness
  (scorecards, employee surveys, metrics)

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Talent Management - A New Perspective
Questions?