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1、Talent MagnetsHugh Bucknall21 August 2001- Issues and Practical ExperiencesNicole SextonGuangzhou Office Opening Ceremony SeminarTalent MagnetsSession 2: Practical experiencesLessons from other placesWhat they have done about itWhat does it mean for youHugh Bucknall21 August 2001William M. Mercer, I
2、ncorporated4 Ways to become a Talent MagnetStaff Attraction& RetentionSchemesEmployment BrandingSuccessionPlanningTalent Management2William M. Mercer, IncorporatedPractical experiencesnFacts and FictionnResponding to the challengenTake awaysnDispelling the mythsnSetting the record straightnWhy it is
3、 a very big business issuenDiagnosticsnToolsnCase studiesnHow do you ratenTools you can use3William M. Mercer, IncorporatedFacts and FictionnDispelling the mythsnSetting the record straightnWhy it is a very big business issue4William M. Mercer, IncorporatedThe Common Myth of Talent Management. Even
4、though pay has been increasing,“its a problem of COMPENSATION”it is not enough to attract, retain and motivate professionals .5William M. Mercer, IncorporatedSo, what are the magnets that bind?4Inspiring Leadership4Fun work culture4Challenging Work4Feedback4Career growth4Pay is fair6William M. Merce
5、r, IncorporatedAnd, why do top talent leave?6Bad boss6No career prospects 6No feedback and support6Broken promises6No customisation for my needs6Wrong people in wrong jobs6Red Tape6My voice not heard6Work life balance6PayWm M Mercer Private Survey in Singapore 20007William M. Mercer, IncorporatedHig
6、h-performance talent managementpractices yield significant economic returnsThe Business OpportunityBased upon a one-standard-deviation increase in highperformance talent managementpracticesTalentTalentManagementManagementSystemSystem$27,000Sales/EE$18,600MarketValue/EE$3,800Profit/EE7%TurnoverDecrea
7、seSource: “Mark A. Huselid, “The Impact of Human Resource Management Practices onTurnover, Productivity and Corporate Financial Performance,” Academy of ManagementJournal 38 (1995)8William M. Mercer, IncorporatedHigh-performance talent managementcreates an employee-customer-profit chainIncreased emp
8、loyeecommitment andproductivityIncreased customersatisfaction andretentionIncreasedshareholdervalueFor every 5% improvement in employee behavior .1.3% increase in customer retention1.04% increase in revenues and 0.4% increase in profitsSource: Anthony J. Rucci, Steven P. Kirn, and Richard T. Quinn,
9、“The Employee-Customer-Profit Chain at Sears,” Harvard Business Review, January, 1998 / February, 19989William M. Mercer, IncorporatedThe cost of turnover is a business issueRule of thumb = equivalent to 6m- 3.5yrsAverage annual salaryTurnover %Number of employeesFactor - 0.5 - 3.5*XXXAnnual costAnn
10、ual cost= =RMB15,00022%10001.5RMB5million= = 10William M. Mercer, IncorporatedWhy companies treasure Top TalentrIt costs 10 times salary to replace Top Talent r3-5 times the value marginal costrBuild future businessrMove and shakerMake things happenrMagnet for more Top Talent11William M. Mercer, Inc
11、orporatedSource: McKinsey, Winning the War for Talent, 1999My Company.Brings innHighly talented people10162333KnowsnWho the high and low performers areRetainsnAlmost all high performersDevelopsnPeople quickly and effectivelyRemovesnLow performers relatively quicklySo is anyone doing a good job?12Wil
12、liam M. Mercer, IncorporatedImpact of the bad performerBad performers are a major reason why good people leave* Adapted from Centre for Creative Leadership“Low performers” in Critical JobsLow Job PerformanceHigh Performers Leave companyDevelopment/ Advancement Opportunities LostSubordinates Not Deve
13、lopedProductivity and Morale Goes Down13William M. Mercer, IncorporatedHow are others responding to the challengenDiagnosticsnToolsnCase studies14William M. Mercer, IncorporatedManaging talent in a systematic waynCreate a context for talent development and management to thrive.Learning ContextnWhat
14、does the organization need from people in order to meet its business strategy?Leadership challenges driven from business strategyCompetency modelsPosition profilingOrganization ProfilenIdentify gaps between organizational needs and people capabilities and develop plans to shore gaps.Talent reviewDev
15、elopment plansJob assignmentsTrainingMentoring and coachingReplacement plans Talent Review/Development PlansnWhat capabilities currently exist within the organization?Talent assessmentTalent ProfileTalent as a Corporate AssetnPeople capabilities and development are aligned with current and future bu
16、siness needs.15William M. Mercer, IncorporatedSome topics to look atIntegrated SelectionCompetency FrameworksRole Profilinge-RecruitmentRe-engineering Recruitment ProcessOrganisational Transition InventoryEffective InductionBespoke Market SurveyTotal Remuneration StudyIntegrated RewardEmployee Benef
17、it FlexibilityReward Strategy ReviewHR Risk ReviewInspiring LeadershipPerformance Management Systems DesignCompensation Management ReviewCareer ThemingInternet/Intranet Web DesignDesign Company-specific Assessment CentreSkills Gap Analysis and PlanningTraining and Development Interventions16William
18、M. Mercer, IncorporatedRoot causes of turnover can be groupedUnemployment ratesMarket shareEmployment cost Competition (location and number)Labor pool External influencesMarket placePromotion historyWage growth Position tenure Education Age ExperienceFull time / part time statusPerformance ratings E
19、xempt / non-exempt statusGenderEthnic backgroundJob / occupationIncentive earningsTrainingEmployee attributesEmployment riskManagerial turnover Bonus participation SupervisionWorkloadPay levels and structure SizePrior turnoverTenure Recruiting source Employee heterogeneityTraining investmentsOrganiz
20、ational practicesImpact of turnoverLittle or no impactHigh impact17William M. Mercer, IncorporatedThe Power of AnalysisReduction in turnover0.00%2.50%5.00%7.50%10.00%Turnover driverExternal1-point rise in unemploymentOrganizational:Supervisor does not leave10% reduction in layoffs10% decrease in ove
21、rtimeHire 20% more from employee referralsIndividual:If promoted in past yearIncrease jobs performed (from 1 to 2)1-year increase in length of prior jobs1-year decrease in current position 10% raise in base pay1-year decrease in organisational tenureIncrease to 30% with university degrees(NBThese ar
22、e case-specific findings.)10% raise in base paySupervisor does not leave18William M. Mercer, IncorporatedRatings by Performance and PotentialCurrent PerformancePotentialLeadership Assessment SummaryAt StandardBelow StandardLowAverageExceedsStandardHighJean Dole Chris JonesCarol CanePat MitchellJohn
23、Doe Troy SmithPromotable NowHigh PotentialExperienced ProfessionalPlacement IssueMark Kent19William M. Mercer, IncorporatedJill McGinnisVP, Design & Devel.David BakerVP, MarketingABC CorporationArlene J. CookMichael DuncanVP, OperationsJosey MillerBrian CrossAndrew StephanMerch. ManagerPatti FoechtV
24、P, Merch.Aaron WhiteDir, of CommunicationsRobert CarlsonVP, CommunicationsRalph DiNardoVP, CommunicationsGary R. CillsPresidentSuccession Planning Coded ChartRetail StoresDesign ManagerDirector of MarketingHigh PotentialIrreplaceable ProAssess TalentMeets ExpectationsPerformance ProblemsKEYPromote N
25、ow20William M. Mercer, IncorporatedImproving staff selection21William M. Mercer, IncorporatedIndividual Development PlanResults from InitialAssessmentPerformance HistoryEducationPersonal profiles provide a starting point for development planning discussionsUndergraduate degree, school major, dateGra
26、duate degree,school, dateCertification/designations/ credentialsEmployment HistoryAt current employer: Company, title, location, dates, manger Prior employers: Title, location, dates Overall rating, for how many years? Objectives, action plan/timing, measures, resultsProfessional DevelopmentInternal
27、: task forces, leadership roles, etc.External: Leadership roles, significant government/community involvementOverall rating/ranking, score for each success factorPotential Job OpportunitiesJob title, location, readinessAdditional CommentsFuture career interests22William M. Mercer, IncorporatedMultip
28、le Career Paths Level 1SupervisorSupervisorSeniorLocal ProjectLeadLiaison/CoordinatorLevel 2ManagerManagerLocal LeadUnit ProjectHeadIntegrationAdvisorLevel 3Small BU HeadDirectorCompanysExpertEnterpriseProject HeadSenior IntegrationAdvisorLevel 4Large BU HeadEnterpriseFunctionHead Level 5Group Head
29、Key Career Path OptionsBusiness Unit LeadershipFunctional AreaLeadershipTechnical/Functional ExpertsProject Management ExpertsCross-FunctionCross-EnterpriseIntegratorsExamples of Career MilestonesAn Illustration23William M. Mercer, IncorporatedWork experiences are the most powerful development mecha
30、nismnFull job changenJob designnSpecial projects & assignmentsIncreasing Valuen360-degree feedback & evaluationnCoachingnMotivated self-developmentnFormal training ExperientialAssignmentsFeedback &CoachingTraining*Adapted from: CCL24William M. Mercer, Incorporated360 degree feedback, skilled coachin
31、g, job andproject assignments and training are the mostcommonly used mechanism for developing talent554565384281752081 89Other managers:Top executives:Training programs360-degree feedbackAssessment centersIndividualdevelopment plansDevelopmental job assignmentsExecutive coachingFormal mentoringInfor
32、mal mentoringAction learning projectsTeam-building activities34223913767265207972Developmental opportunities for.Source: The Conference Board, HR Executive Review: Developing Leaders 25William M. Mercer, IncorporatedUsing Web Enabled Technology,eg. 360 Degree Feedback26William M. Mercer, Incorporate
33、dSome of the best places to work - GENamePositionNamePositionKey elements of GEs “Session C” talent review performance of divisional leadership. Jack Welchmay spend 5-10 minutes reviewing the performance and developmental needs of each individual*Source : Corporate Leadership Council Hypothetical ba
34、sed on GE Power systemsBackground/ExperiencesProvides background, context for discussion of managers currentperformanceEducationGE Service Date-Yrs.Promotability/PerformanceUniversal potential, performance rating allows cross-calibration of talentacross the companyPromotability APerformance 1Trend U
35、pwardAccomplishments:PerformanceA. ExceedsB. Fully meetsC. Partially meetsD. Fails to meetPromotability1. Highly promotable, significantleadership potential2. Promotable, significant leadershippotential3. Effective-limited promotability4. Too soon to call5. Improvement needed360 degree assessmentLea
36、dership abilities evaluated against corporate standard, not requirementsof a specific jobLeadership AbilitiesDevelopment/ActionsDevelopment actions determined based on assessment of individual need,career aspirationsStrengthsDevelopment NeedsCareer InterestsPlans/ActionsFuture Assignment Experiences
37、 Key Courses27William M. Mercer, IncorporatedSome of the Best Places to Work* ComputerWorld Magazine, November 2, 1998 Reduced turnover from 10% to 5% by focusing on “what technical people really want” Internship program stresses IT/business immersion, accountabilityEntire IT community interacts wit
38、h 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 and upper levelsHiring from within and intracompany movement encouragedIT community building encourag
39、ed28William M. Mercer, IncorporatedSome of the Best Places to Work35-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-site massagesUnlimited sick days and time to care for sick familyLight
40、s out at 5:00!* Fast CompanyMagazine, 1998 Offers no stock options, and Offers no stock options, and Offers no stock options, and salaries are no better than salaries are no better than salaries are no better than competitive, yet turnover is an competitive, yet turnover is an competitive, yet turno
41、ver is an unbelievable 3%*unbelievable 3%*unbelievable 3%*29William M. Mercer, IncorporatedTake awaysnHow do you ratenTools you can use30William M. Mercer, IncorporatedHow Does Your Organization Rate?nShared set of values around talent managementnUnderstand what is required from people inorder to me
42、et business plansTransitioning the strategy to talent requirements:Grade: _nCulture encourages risk-takingnEmployees have access to role modelsnManagers are held accountable for developingtheir employeesnEmployees are recognized and rewarded fordevelopmentnPeople promoted are good role models ofdesi
43、red behaviorsnSenior leaders participate in training othersCreating a content that values learning & development:Grade: _nShared set of values around talent managementnUnderstand what is required from people inorder to meet business plansTransitioning the strategy to talent requirements:Grade: _nDev
44、elopment is recognized as a corporate prioritynFrequent feedback from, multiple source is givennWillingness to put people in stretch assignmentsnPeople are moved cross-functionally, cross business-units etc.Developing future leaders:Grade: _nBelief that talent impacts thebusinessnManagers know stren
45、gths andweaknesses of employeesnUnderstand where talent gaps existnDifferentiates people onperformance and potentialCreating a talent mindset:Grade: _31William M. Mercer, IncorporatedCosts of turnoverCosts of turnoverCulture AuditCulture AuditProcess designProcess designCompetencydevelopmentCompeten
46、cydevelopmentCommunicationstrategyCommunicationstrategyRemuneration &benefitsRemuneration &benefitsRecruiting strategyRecruiting strategyCulture changeCulture changeRetention analysisRetention analysisProcess mappingProcess mappingSegmentationSegmentationCommunicatingCommunicatingPlanningPlanningPer
47、formancemanagementPerformancemanagementResults trackingResults trackingLeadership &managementdevelopmentLeadership &managementdevelopmentAbsencemanagementAbsencemanagementAbsence trackingAbsence trackingExit interviewanalysisExit interviewanalysisOrganisationdesignOrganisationdesignLearning &Develop
48、mentstrategyLearning &DevelopmentstrategyUnderstandingthe issuesSolutiondesign &developmentSolutionimplementationAgreeddeliverablesProfiling talentProfiling talentSome of the tools availableEmployer brandreviewEmployer brandreviewData analysisData analysisBenchmarkingBenchmarkingEmployer branddimens
49、ionsEmployer branddimensions32William M. Mercer, IncorporatedSo, in SummarynThere are some who make things happennThere are others who watch what happensnThere are even more that wonder what happenednThe talent war is real losing is not a good option33William M. Mercer, Incorporated4 Ways to become a Talent MagnetStaff Attraction& RetentionSchemesEmployment BrandingSuccessionPlanningTalent Management34
