1、Mercer美世經典人才管理Talent MagnetsSession 2: Practical experiencesLessons from other placesWhat they have done about itWhat does it mean for youHugh Bucknall21 August 202X4 Ways to become a Talent MagnetStaff Attraction& RetentionSchemesEmployment BrandingSuccessionPlanningTalent ManagementPractical e

2、xperiencesnFacts and FictionnResponding to the challengenTake awaysnDispelling the mythsnSetting the record straightnWhy it is a very big business issuenDiagnosticsnToolsnCase studiesnHow do you ratenTools you can useFacts and FictionnDispelling the mythsnSetting the record straightnWhy it is a very

3、 big business issueThe Common Myth of Talent ManagementThe 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 it is not enough to attract, retain and motivate professionals . professionals .So, what ar

4、e the magnets that bind?4Inspiring Leadership4Fun work culture4Challenging Work4Feedback4Career growth4Pay is fairAnd, 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 heard6W

5、ork life balance6PayWm M Mercer Private Survey in Singapore 202XHigh-performance talent managementpractices yield significant economic returnsThe Business OpportunityBased upon a one-standard-deviation increase in highperformance talent managementpracticesTalentTalentManagementManagementSystemSystem

6、$27,000Sales/EE$18,600MarketValue/EE$3,800Profit/EE7%TurnoverDecreaseSource: “Mark A. Huselid, “The Impact of Human Resource Management Practices onTurnover, Productivity and Corporate Financial Performance,” Academy of ManagementJournal 38 (202X)High-performance talent managementcreates an employee

7、-customer-profit chainIncreased employeecommitment 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, Ste

8、ven P. Kirn, and Richard T. Quinn, “The Employee-Customer-Profit Chain at Sears,” Harvard Business Review, January, 202X / February, 202XThe cost of turnover is a business issueThe cost of turnover is a business issueRule of thumb = equivalent to 6m- 3.5yrsAverage annual salaryTurnover %Number of em

9、ployeesFactor - 0.5 - 3.5*XXXAnnual costAnnual cost= =RMB15,00022%10001.5RMB5million= = Why 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 Talent33Source: McKi

10、nsey, Winning the War for Talent, 202XMy Company.My 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?Impact of the b

11、ad 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 DevelopedProductivity and Morale Goes DownHow a

12、re others responding to the challengenDiagnosticsnToolsnCase studiesManaging talent in a systematic waynCreate a context for talent development and management to thrive.Learning ContextnWhat does the organization need from people in order to meet its business strategy?Leadership challenges driven fr

13、om business strategyCompetency modelsPosition profilingOrganization ProfilenIdentify gaps between organizational needs and people capabilities and develop plans to shore gaps.Talent reviewDevelopment plansJob assignmentsTrainingMentoring and coachingReplacement plans Talent Review/Development Plansn

14、What capabilities currently exist within the organization?Talent assessmentTalent ProfileTalent as a Corporate AssetnPeople capabilities and development are aligned with current and future business needs.Some topics to look atSome topics to look atIntegrated SelectionCompetency FrameworksRole Profil

15、inge-RecruitmentRe-engineering Recruitment ProcessOrganisational Transition InventoryEffective InductionBespoke Market SurveyTotal Remuneration StudyIntegrated RewardEmployee Benefit FlexibilityReward Strategy ReviewHR Risk ReviewInspiring LeadershipPerformance Management Systems DesignCompensation

16、Management ReviewCareer ThemingInternet/Intranet Web DesignDesign Company-specific Assessment CentreSkills Gap Analysis and PlanningTraining and Development InterventionsRoot causes of turnover can be groupedUnemployment ratesMarket shareEmployment cost Competition (location and number)Labor pool Ex

17、ternal influencesMarket placePromotion historyWage growth Position tenure Education Age ExperienceFull time / part time statusPerformance ratings Exempt / non-exempt statusGenderEthnic backgroundJob / occupationIncentive earningsTrainingEmployee attributesEmployment riskManagerial turnover Bonus par

18、ticipation SupervisionWorkloadPay levels and structure SizePrior turnoverTenure Recruiting source Employee heterogeneityTraining investmentsOrganizational practicesImpact of turnoverLittle or no impactHigh impactThe Power of AnalysisThe Power of AnalysisReduction in turnover0.00%2.50%5.00%7.50%10.00

19、%Turnover driverExternal1-point rise in unemploymentOrganizational:Supervisor does not leave10% reduction in layoffs10% decrease in overtimeHire 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 decre

20、ase in current position 10% raise in base pay1-year decrease in organisational tenureIncrease to 30% with university degrees(NBThese are case-specific findings.)10% raise in base paySupervisor does not leaveRatings by Performance and PotentialCurrent PerformancePotentialLeadership Assessment Summary

21、At StandardBelow StandardLowAverageExceedsStandardHighJean Dole Chris JonesCarol CanePat MitchellJohn Doe Troy SmithPromotable NowHigh PotentialExperienced ProfessionalPlacement IssueMark KentJill McGinnisVP, Design & Devel.David BakerVP, MarketingABC CorporationArlene J. CookMichael DuncanVP, O

22、perationsJosey MillerBrian CrossAndrew StephanMerch. ManagerPatti FoechtVP, Merch.Aaron WhiteDir, of CommunicationsRobert CarlsonVP, CommunicationsRalph DiNardoVP, CommunicationsGary R. CillsPresidentSuccession Planning Coded ChartRetail StoresDesign ManagerDirector of MarketingHigh PotentialIrrepla

23、ceable ProAssess TalentMeets ExpectationsPerformance ProblemsKEYPromote NowImproving staff selectionEDUCATIONCASUAL INTERVIEWSHANDWRITINGREFERENCESBIODATAMENTAL ABILITY TESTSWORK SAMPLE TESTSASSESSMENT CENTRESPERSONALITY TESTSBEHAVIOURAL INTERVIEWSSTRUCTURED INTERVIEWSMoreObjectiveMore SubjectiveOBJ

24、ECTIVITYOFMEASURERELEVANCE TO THE JOB(Predictive Validity)LowHighComparativeAccuracy ofSelectionTechniquesCommonlyUsedTechniquesPreferred TechniquesIndividual Development PlanResults from InitialAssessmentPerformance HistoryEducationPersonal profiles provide a starting point for development planning

25、 discussions Undergraduate degree, school major, date Graduate degree,school, date Certification/designations/ credentialsEmployment History At current employer: Company, title, location, dates, manger Prior employers: Title, location, dates Overall rating, for how many years? Objectives, action pla

26、n/timing, measures, resultsProfessional Development Internal: task forces, leadership roles, etc. External: Leadership roles, significant government/community involvement Overall rating/ranking, score for each success factorPotential Job Opportunities Job title, location, readinessAdditional Comment

27、s Future career interestsMultiple Career Paths Level 1SupervisorSupervisorSeniorLocal ProjectLeadLiaison/CoordinatorLevel 2ManagerManagerLocal LeadUnit ProjectHeadIntegrationAdvisorLevel 3Small BU HeadDirectorCompanysExpertEnterpriseProject HeadSenior IntegrationAdvisorLevel 4Large BU HeadEnterprise

28、FunctionHead Level 5Group Head Key Career Path OptionsBusiness Unit LeadershipFunctional AreaLeadershipTechnical/Functional ExpertsProject Management ExpertsCross-FunctionCross-EnterpriseIntegratorsExles of Career MilestonesAn IllustrationWork experiences are the most powerful development mechanismn

29、Full job changenJob designnSpecial projects & assignmentsIncreasing Valuen360-degree feedback & evaluationnCoachingnMotivated self-developmentnFormal training ExperientialAssignmentsFeedback &CoachingTraining*Adapted from: CCL360 degree feedback, skilled coaching, job and360 degree feedb

30、ack, skilled coaching, job andproject assignments and training are the mostproject assignments and training are the mostcommonly used mechanism for developing talentcommonly used mechanism for developing talent554565384281752081 89Other managers:Top executives:Training programs360-degree feedbackAss

31、essment centersIndividualdevelopment plansDevelopmental job assignmentsExecutive coachingFormal mentoringInformal mentoringAction learning projectsTeam-building activities34223913767265207972Developmental opportunities for.Source: The Conference Board, HR Executive Review: Developing Leaders Using W

32、eb Enabled Technology,eg. 360 Degree FeedbackSome 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 :

33、Corporate Leadership Council Hypothetical based 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 th

34、e companyPromotability APerformance 1Trend UpwardAccomplishments:PerformanceA. ExceedsB. Fully meetsC. Partially meetsD. Fails to meetPromotability1. Highly promotable, significantleadership potential2. Promotable, significant leadershippotential3. Effective-limited promotability4. Too soon to call5

35、. Improvement needed360 degree assessmentLeadership abilities evaluated against corporate standard, not requirementsof a specific jobLeadership AbilitiesDevelopment/ActionsDevelopment actions determined based on assessment of individual need,career aspirationsStrengthsDevelopment NeedsCareer Interes

36、tsPlans/ActionsFuture Assignment Experiences Key CoursesSome of the Best Places to Work* ComputerWorld Magazine, November 2, 202X Reduced turnover from 10% to 5% by focusing on “what technical people really want” Internship program stresses IT/business immersion, accountabilityEntire IT community in

37、teracts 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 and upper levelsHiring from within and intracompany movement encouragedIT community buildi

38、ng encouragedSome 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 familyLights out at 5:00!* Fast C

39、ompanyMagazine, 202X Take awaysnHow do you ratenTools you can useHow Does Your Organization Rate?How Does Your Organization Rate?nShared set of values around talent managementnUnderstand what is required from people inorder to meet business plansTransitioning the strategy to talent requirements:Grad

40、e: _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 ofdesired behaviorsnSenior leaders participate in training othersCreating a c

41、ontent 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: _nDevelopment is recognized as a corporate prioritynFrequent feedback fr

42、om, 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 strengths andweaknesses of employeesnUnderstand where talent gaps existnDifferentiates people onperformance and potentialCreating a talent mindset:Grade: _Costs of turnoverCosts of turnoverCulture Audi