Talent Management

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Talent Management Andy Noon and Lori Buchanan
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Agenda

• Starting Point
• Talent Management Strategy
• Talent Management Objectives
• Identifying High Potentials
• Development Cycle
• Formal Activities
• What We have Learned
• Next Steps

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Mutual of Omaha

• Fortune 500 Company
• 97 year history
• 4500 employees, majority in Omaha
• Sell Individual and Group insurance through
  agents, brokers, and direct

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Starting Point (2003)

• Difficulty identifying and retaining external
  leaders
• Majority of senior leaders over age 50
• Minimal leadership development above supervisor
  level
• Limited succession planning discussions

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Evolution of Talent Management

• 2004 - Full-day Sr. Management off-site
• Discussed leadership talent
• 2005 - Identified high-potential leaders
• Introduced Talent Management Program
• Annual talent discussion
• 2006 - Began programs development activities
• Annual talent discussion

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Identifying High-Potentials

• Nomination process
• Career achievement
• Development focussed
• Strong leadership ability
• Consensus discussions at business unit level
• EVP, mgr, and participant completed career
  discussion
• Executives discussed at off-site (2005)

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Talent Management Strategy

• Strengthen leadership talent
• Deepen leadership bench strength
• Build a diverse leadership team
• Retain and engage leadership talent
• Align leadership strengths

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Talent Management Objectives

• Increase self-awareness
• Establish customized development plans
• Provide exposure to Senior Management
• Enhance leadership skills and abilities
• Provide opportunities to solve critical business
  problems
• Heighten learning through peer interaction
• Enhance understanding of the business

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Development Cycle
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Self-Awareness
Fatal Flaw is a Lack of Self-awareness (Shipper
Dillard, 2000)
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Self-awareness

• Individuals with greater self-awareness
• less arrogant
• less likely to overdo strengths
• more likely to neutralize derailment

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Hogan Personality Inventories
Potential Derailers
Effectiveness Characteristics
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Multi-rater Feedback

• Short 44-item survey linked to competencies
• Structured feedback from multiple sources
• Manager
• Peers
• Direct reports
• Customers
• Detailed report
• includes comments

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Discussion of Strengths/Development Needs

• Participants completed Achieving Your Leadership
  Potential
• Managers participated in Developing Others
• Participant receives coaching from internal
  Talent Management Coach
• Manager and participant have open discussion
  about assessment results
• Assessment results for development only

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Development Planning

• Assessment results used to create development
  plan
• Participant and management finalize development
  plan together
• Development plan presented to SBU/Operation
  Senior Management Team

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Three Es of Development

• Experience (70)
• On the job tasks and special projects
• Job changes
• Special assignments
• Broadening leadership opportunities
• Exposure (20)
• Feedback from others
• Opportunities for visibility in the organization
• Coaching and mentoring
• Education (10)
• Internal or external seminars or education

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Measure and Monitor Success

• Development plans must have specific success
  measures
• Gather and provide feedback frequently
• Review progress with participant quarterly
• TM coach review progress with manager and
  participant 2x per year

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Formal Development

• Business Information Seminars
• Exposure to Sr. Management
• Business Acumen
• Peer networking
• Executive mentoring
• Strategic Leadership Experience

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Next Steps

• Continue
• Business Information Seminars
• Executive mentoring
• Multi-rater feedback
• Potential activities
• Experiential learning
• University-based education

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Challenges

• Defining high-potential
• Not going to get commitment from everyone
• Management owning development
• Development Planning!!
• Allowing time for development

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What we have learned

• HR is the driver but not the owner of Talent
  Management
• Develop a solid definition of high-potential
• Align development to group and business needs
• Utilizing assessments is critical
• Providing objective internal TM coaches adds
  value
• Importance of peer networking
• Importance of leaders teaching leaders

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Program Evaluation

• of TM development plans created
• of quarterly development plan meetings
  completed
• TM participant satisfaction
• TM manager satisfaction
• Change in leadership behavior
• Retention of TM participants
• Number of participant promotions
• Number of developmental assignments

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• Questions?