InclusiveTalent

Management6th March 2014

Phil Kenmore, Hay Group@philkenmore

What shall we talk about?

Wake up!

Breaking the code

The Bananarama Conundrum

Simple Talent Management So:

Potential for what?

Know: Indentify

talent

Grow:Develop talent

Flow:Expose talent

to strategic roles

So: potential for what?

Know: knowing your talent

Grow: nurturing your talent

Flow: deploying your talent

World Class…6 Talent Management Questions:

What kind of talent do you need to realise your strategy?1. Define

2. Attract

3. Select

4. Develop

5. Engage

6. Deploy

How do you attract the best talent to meet your needs?

How do you select the best talent to achieve your aspirations?

How do you best grow your talent to meet your future needs?

How do you best reward, engage and retain your talent?

How do you best deploy, redeploy and manage the exit of your talent?

Copyright The Hay Group 2014

A more ‘complex’ model:

Talent strategy

Business context

and strategy

Performance management

Talent Management

Organisation demand

Balance what you need with what you have

People supply

Balance what you have with what you need

While these activities are in essence sequential, they also operate in a virtuous feedback loop:

Copyright The Hay Group 2014

Benchmarking World Class Talent Management practices

A global Hay Group research shows that there is a spectrum of developing practice in relation to talent management.

Our systems are flexible and have industrial scale capacity

Full suite of efficient, effective and integrated service deliver capability

Most systems have been created, rolled out, are effective and integrated

Some systems have been independently developed but don’t ‘talk’

Limited, ad hocSystems

Senior managers devote substantial amounts of their time to talent; rewards linked to talent KPIs

Talent is a regular item on senior team’s agendas

Senior manager sponsorship, HR managers

HR leads, senior management supports

HR monopolyLeadership support

We retain our talent all of the time and proactively manager turnover

We can retain most of our talent most of the time

We can retain selected talentWe can retain some of our talent some of the time – ad hoc monetary retention

We typically struggle to retain our talent

Retention

We make informed business decisions about where we place our talent investments and are able to predict the returns

We know how much we invest in talent and what return we get for each element

Investments are known, return often intangible

In place, but little ROI analysis

FewMeasurement

Talent and leadership programmes deliver tangible benefits to the organisation and its people

Interconnected and linked to business strategy and organisational weaknesses

Significant investment and coordinated, some ROI

Tactical development but return not measured

Ad hocDevelopment

Objective talent dialogues permeate whole organisation, measures are calibrated and comparable

Most talent discussed through dialogue in talent forums includes objective benchmarked data

Talent discussed through dialogue in talent forums (but little data)

Some roles defined, solitary line manager views predominant

Ad hoc, subjectiveSelection

No issues, talent availability helps us advance our goals

Able to adjust our employer brand and employee value proposition to meet our evolving business and talent requirements

Business strategy is informed and influenced by our talent insight and predictions

Cutting edge

Generally able to attract the talent needed most of the time

Able to attract some of the talent needed, some of the time

Sometimes find it difficult to attract the talent needed

Frequent challenges in getting the right people

Attraction

Limited Developing Pockets of best practice best Integrated

Talent strategy No plan/ initiating Talent plan aligned to business strategy

Talent plan essential part of business strategy

Talent strategy and business strategy are integrated and consistent

Employer brand

Beginning to developer one

Have a practice employee value proposition

Employer of choice with clear value proposition

Are the leading employer of choice for the talent that we need now

Flow

Gro

wKn

owSo

Source: Hay Group global research, 2011

Process/ Level Cutting edgeLimited Developing Pockets of best practice best Integrated

So

Cutting edgeLimited Developing Pockets of best practice best Integrated Cutting edgeLimited Developing Pockets of best practice best Integrated

Copyright The Hay Group 2014

Key NHS TM Challenges?

•NHS - One or many?

•What’s your aiming point?

•Clinical leaders – the future generation

•Performance management

Talent management pays Firms that get it right increase business understanding and reduce cost by filling more positions from withinIs it worth it?

Five-year Avg. Total Shareholder return

Se-ries1

0%10%20%30%40%50%60%70%80%90%

100%

80%

63%

75%

60%

88%

72%

Mid-level manager positions

filled from within

Senior-level manager positions

filled from within

Chief executives promoted

from within

Source: Chief Executive magazine Hay Group ‘Best Companies for Leaders’ survey

Some Data:Talent Management ROI

20 best companies

S&P 5000.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5% 4.07%

0.54%

Copyright The Hay Group 2014

Thank you

Thank you.

Phil Kenmore, Hay Group@philkenmore