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1、Talent Magnets,Hugh Bucknall,21 August 2001,-Issues and Practical Experiences,Nicole Sexton,Guangzhou Office Opening Ceremony Seminar,Talent Magnets,Session 2:Practical experiencesLessons from other placesWhat they have done about itWhat does it mean for you,Hugh Bucknall,21 August 2001,2,4 Ways to
2、become a Talent Magnet,Staff Attraction&RetentionSchemes,Employment Branding,SuccessionPlanning,Talent Management,3,Practical experiences,Facts and FictionResponding to the challengeTake aways,Dispelling the mythsSetting the record straightWhy it is a very big business issueDiagnosticsToolsCase stud
3、iesHow do you rateTools you can use,4,Facts and Fiction,Dispelling the mythsSetting the record straightWhy it is a very big business issue,5,The Common Myth of Talent Management,.Even though pay has been increasing,“its a problem of COMPENSATION”,it is not enough to attract,retain and motivate profe
4、ssionals.,6,So,what are the magnets that bind?,Inspiring LeadershipFun work cultureChallenging WorkFeedbackCareer growthPay is fair,7,And,why do top talent leave?,Bad bossNo career prospects No feedback and supportBroken promisesNo customisation for my needsWrong people in wrong jobsRed TapeMy voice
5、 not heardWork life balancePay,Wm M Mercer Private Survey in Singapore 2000,8,High-performance talent management,practices yield significant economic returns,The Business Opportunity,Based upon a one-standard-,deviation increase in high,performance talent management,practices,Source:“Mark A.Huselid,
6、“The Impact of Human Resource Management Practices on,Turnover,Productivity and Corporate Financial Performance,”Academy of Management,Journal 38(1995),9,High-performance talent management,creates an employee-customer-profit chain,Increased employee,commitment and,productivity,Increased customer,sat
7、isfaction and,retention,Increased,shareholder,value,For every 5%,improvement in,employee behavior.,1.3%,increase in,customer retention,1.04%increase,in revenues and,0.4%increase in profits,Source:Anthony J.Rucci,Steven P.Kirn,and Richard T.Quinn,“The Employee-Customer-,Profit Chain at Sears,”Harvard
8、 Business Review,January,1998/February,1998,10,The cost of turnover is a business issue,Rule of thumb=equivalent to 6m-3.5yrs,Average annual salary,Turnover%,Number of employees,Factor-0.5-3.5*,X,X,X,Annual cost,Annual cost,=,=,RMB15,000,22%,1000,1.5,RMB5million,=,=,11,Why companies treasure Top Tal
9、ent,It costs 10 times salary to replace Top Talent 3-5 times the value marginal costBuild future businessMove and shakeMake things happenMagnet for more Top Talent,12,Source:McKinsey,Winning the War for Talent,1999,My Company.,Brings inHighly talented people,10,16,23,3,3,KnowsWho the high and low pe
10、rformers are,RetainsAlmost all high performers,DevelopsPeople quickly and effectively,RemovesLow performers relatively quickly,So is anyone doing a good job?,13,Impact of the bad performer,Bad performers are a major reason why good people leave,*Adapted from Centre for Creative Leadership,“Low perfo
11、rmers”in Critical Jobs,Low Job Performance,High Performers Leave company,Development/Advancement Opportunities Lost,Subordinates Not Developed,Productivity and Morale Goes Down,14,How are others responding to the challenge,DiagnosticsToolsCase studies,15,Managing talent in a systematic way,What does
12、 the organization need from people in order to meet its business strategy?Leadership challenges driven from business strategyCompetency modelsPosition profiling,Organization Profile,Identify gaps between organizational needs and people capabilities and develop plans to shore gaps.Talent reviewDevelo
13、pment plansJob assignmentsTrainingMentoring and coachingReplacement plans,Talent Review/Development Plans,What capabilities currently exist within the organization?Talent assessment,Talent Profile,Talent as a Corporate Asset,People capabilities and development are aligned with current and future bus
14、iness needs.,16,Some topics to look at,17,Root causes of turnover can be grouped,Unemployment ratesMarket shareEmployment cost Competition(location and number)Labor pool,External influences,Promotion historyWage growth Position tenure Education Age ExperienceFull time/part time statusPerformance rat
15、ings Exempt/non-exempt statusGenderEthnic backgroundJob/occupationIncentive earningsTraining,Employee attributes,Employment riskManagerial turnover Bonus participation SupervisionWorkloadPay levels and structure SizePrior turnoverTenure Recruiting source Employee heterogeneityTraining investments,Or
16、ganizational practices,Impact of turnover,Little or no impact,High impact,18,The Power of Analysis,10%raise in base pay,Supervisor does not leave,19,Ratings by Performance and Potential,Current Performance,Potential,Leadership Assessment Summary,At Standard,Below Standard,Low,Average,ExceedsStandard
17、,High,Jean Dole,Chris Jones,Carol Cane,Pat Mitchell,John Doe,Troy Smith,Promotable Now,High Potential,Experienced Professional,Placement Issue,Mark Kent,20,Jill McGinnis,VP,Design&Devel.,David Baker,VP,Marketing,ABC Corporation,Arlene J.Cook,Michael Duncan,VP,Operations,Josey Miller,Brian Cross,Andr
18、ew Stephan,Merch.Manager,Patti Foecht,VP,Merch.,Aaron White,Dir,of Communications,Robert Carlson,VP,Communications,Ralph DiNardoVP,Communications,Gary R.Cills,President,Succession Planning Coded Chart,Retail Stores,Design Manager,Director of Marketing,High Potential,Irreplaceable Pro,Assess Talent,M
19、eets Expectations,Performance Problems,KEY,Promote Now,21,Improving staff selection,22,Individual Development Plan,Results from InitialAssessment,Performance History,Education,Personal profiles provide a starting point for development planning discussions,Undergraduate degree,school major,dateGradua
20、te degree,school,dateCertification/designations/credentials,Employment History,At current employer:Company,title,location,dates,manger Prior employers:Title,location,dates,Overall rating,for how many years?,Objectives,action plan/timing,measures,results,Professional Development,Internal:task forces,
21、leadership roles,etc.External:Leadership roles,significant government/community involvement,Overall rating/ranking,score for each success factor,Job title,location,readiness,Future career interests,23,Multiple Career Paths,Key Career Path Options,Business Unit Leadership,Functional AreaLeadership,Te
22、chnical/Functional Experts,Project Management Experts,Cross-FunctionCross-EnterpriseIntegrators,Examples of Career Milestones,An Illustration,24,Work experiences are the most powerful development mechanism,Full job changeJob designSpecial projects&assignments,Increasing Value,360-degree feedback&eva
23、luationCoaching,Motivated self-developmentFormal training,ExperientialAssignments,Feedback&Coaching,Training,*Adapted from:CCL,25,360 degree feedback,skilled coaching,job and,project assignments and training are the most,commonly used mechanism for developing talent,Other managers:,Top executives:,T
24、raining programs,360-degree feedback,Assessment centers,Individual,development plans,Developmental job,assignments,Executive coaching,Formal mentoring,Informal mentoring,Action learning projects,Team-building activities,Developmental opportunities for.,Source:The Conference Board,HR Executive Review
25、:Developing Leaders,26,Using Web Enabled Technology,eg.360 Degree Feedback,27,Some of the best places to work-GE,Name,Position,Name,Position,Key elements of GEs“Session C”talent review performance of divisional leadership.Jack Welch,may spend 5-10 minutes reviewing the performance and developmental
26、needs of each individual,*Source:Corporate Leadership Council Hypothetical based on GE Power systems,Promotability,/Performance,Universal potential,performance rating allows cross-calibration of talent,across the company,Promotability,A,Performance 1,Trend,Upward,Accomplishments:,Performance,A.Excee
27、ds,B.Fully meets,C.Partially meets,D.Fails to meet,Promotability,1.Highly promotable,significant,leadership potential,2.Promotable,significant leadership,potential,3.Effective-limited promotability,4.Too soon to call,5.Improvement needed,Development/Actions,Development actions determined based on as
28、sessment of individual need,career aspirations,Strengths,Development Needs,Career Interests,Plans/Actions,Future Assignment,Experiences,Key Courses,28,Some of the Best Places to Work,*ComputerWorld Magazine,November 2,1998,Reduced turnover from 10%to 5%by focusing on“what technical people really wan
29、t”,Internship program stresses IT/business immersion,accountabilityEntire IT community interacts with job candidatesComprehensive,multimedia IT tool kit guides career development with road maps from job to jobTechnical and business training encouragedComprehensive IT leadership programs at middle an
30、d upper levelsHiring from within and intracompany movement encouragedIT community building encouraged,29,Some of the Best Places to Work,35-hour full-time workweekLive piano music in cafeteria;unlimited beveragesWeek off between Christmas and New Year36,000 square foot on-site gymOn-site day careOn-
31、site massagesUnlimited sick days and time to care for sick familyLights out at 5:00!,*Fast CompanyMagazine,1998,Offers no stock options,and salaries are no better than competitive,yet turnover is an unbelievable 3%*,30,Take aways,How do you rateTools you can use,31,How Does Your Organization Rate?,n
32、,Shared set of values around talent management,n,Understand what is required from people in,order to meet business plans,Transitioning the strategy to talent requirements:,Grade:_,n,Culture encourages risk-taking,n,Employees have access to role models,n,Managers are held accountable for developing,t
33、heir employees,n,Employees are recognized and rewarded for,development,n,People promoted are good role models of,desired behaviors,n,Senior leaders participate in training others,Creating a content that values learning&development:,Grade:_,n,Shared set of values around talent management,n,Understand
34、 what is required from people in,order to meet business plans,Transitioning the strategy to talent requirements:,Grade:_,n,Development is recognized as a corporate priority,n,Frequent feedback from,multiple source is given,n,Willingness to put people in stretch assignments,n,People are moved cross-f
35、unctionally,cross business-units etc.,Developing future leaders:,Grade:_,n,Belief that talent impacts the,business,n,Managers know strengths and,weaknesses of employees,n,Understand where talent gaps exist,n,Differentiates people on,performance and potential,Creating a talent mindset:,Grade:_,32,Cos
36、ts of turnover,Costs of turnover,Culture Audit,Culture Audit,Process design,Process design,Competency,development,Competency,development,Communication,strategy,Communication,strategy,Remuneration&,benefits,Remuneration&,benefits,Recruiting strategy,Recruiting strategy,Culture change,Culture change,R
37、etention analysis,Retention analysis,Process mapping,Process mapping,Segmentation,Segmentation,Communicating,Communicating,Planning,Planning,Performance,management,Performance,management,Results tracking,Results tracking,Leadership&,management,development,Leadership&,management,development,Absence,m
38、anagement,Absence,management,Absence tracking,Absence tracking,Exit interview,analysis,Exit interview,analysis,Organisation,design,Organisation,design,Learning&,Development,strategy,Learning&,Development,strategy,Understanding,the issues,Solution,design&,development,Solution,implementation,Agreed,de
39、liverables,Profiling talent,Profiling talent,Some of the tools available,Employer brand,review,Employer brand,review,Data analysis,Data analysis,Benchmarking,Benchmarking,Employer brand,dimensions,Employer brand,dimensions,33,So,in Summary,There are some who make things happenThere are others who watch what happensThere are even more that wonder what happenedThe talent war is real losing is not a good option,34,4 Ways to become a Talent Magnet,Staff Attraction&RetentionSchemes,Employment Branding,SuccessionPlanning,Talent Management,
