Transcript Major Trends in Banking and Financial Services

Talent Management – an essential key
to Business Success
“The importance of Talent Management in the
current business environment ”
Nigel Moore, Managing Director
Logistics Executive – Middle East & Africa
Major Trends in our world today
• Market Turmoil and Credit Crisis
• Increased Security and Regulatory Control
• Globalization
• Changing Marketplace
• Dynamic Competition
• Rapid Change and Innovation
Business Drivers in the Supply Chain
• Control/Reduce Costs & Drive Operational
Excellence
• Manage Talent and Human Capital
• Build Organizational Culture
• Enhance the Customer Experience
• Explore New Markets and Opportunities
• Increase market share
Beware short term thinking!
“Organisations must not compromise on strategy to cut costs during
global economic crisis and should resist the temptation to cut
investment in strategy, innovation and customer care for short-term
cost savings during these times.
While it’s necessary to be efficient and trim the excess in a company,
managers must not end up cutting out important areas that have an
effect on the long-term goals and effectiveness of the organisation.
“Operating in an economic crisis is all about confidence. Numbers go
bad – that’s the way economies work – but the situation gets
dramatically worse as people lose confidence in a company’s
management”.
Dr David P Norton
(co-creator of the Balanced Scorecard concept)
Our new business strategy is “X” …
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Are my leaders capable of executing our new
strategy?
Can our leaders drive operational excellence ?
How do I get people ready for the future?
How do I keep people engaged and retained?
How can I reduce ramp-up time for new
employees?
How do I attract new Talent?
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
6. Leadership Training
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
6. Leadership Training
7. Job Design
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
6. Leadership Training
7. Job Design
8. Vision, Mission, Purpose
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
6. Leadership Training
7. Job Design
8. Vision, Mission, Purpose
9. Reward System
Talent Attraction & Retention
Top 10 Drivers
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1. Attractive Work Environment
2. Respect
3. Participation
4. Recruitment Process
5. Career Opportunities
6. Leadership Training
7. Job Design
8. Vision, Mission, Purpose
9. Reward System
10. Keep Your Promises
Generation Y = 18 to about 28
Are they attracted to the Logistics &
Supply Chain industry?
• Gen Y like playing around and experiencing
everything life has to offer
• Gen Y aren't thinking long-term - that's why you
can't retain them... they're thinking next year, the
year after – not much further
• Employers of Gen Y need to think laterally about
what they can offer them. Think holistically nurture their passions.
• Think short-term about rewards and experiences
Fostering Talent
18 Drivers of Attachment
Focusing on “attachment” is critical in addressing retention
1.Accuracy of Job Representation
2.Business Awareness
3.Central Messages
4.Climate & Culture
5.Co-Workers
6.Incremental Learning
7.Learning Path
8.Mngr Alignment & Accessibility
9.Orientation
10.Performance Objectives
11.Personal Vision & Career Path
12.Physical Work Environment
13.Pre-Employment
14.Reasons for Joining
15.Recruitment & Selection
16.Rotation
17.Safety & Behaviour
18.Senior Leadership
“Onboarding” - Controlling Retention
through Attachment
90 Day Post Induction Survey
Measures degree new employee is bonded or "attached" or successfully
“onboarded” to organisation within critical 90 days of employment.
An Attachment & Risk Report provides Managers and HR Departments
critical info - perceptions of new employee - provides recommendations
how to correct negative perceptions.
The value tool = the Risk Rating and Recommendations that an organisation
will receive for each new candidate on 90th day of employment
Attraction strategies – Employer Branding
• Research your current attraction & retention performance
• Which departments or job titles you have problems hiring for?
Assess whether the current calibre of staff is correct re future
hires?
• Conduct audit on company's values and points of difference
• List reasons why someone may opt for employment with you?
• Survey stakeholders to compare your stated company values
with reality / perceptions
Attraction strategies – Employer Branding
• Initiate your roll out plan
• Establish an "Employer Brand Team“ to align the needs of your
organisation with your attraction strategy
• Aim is to know what type of people you want to attract and
understand why a top person would want a job with your
organisation?
• The secret to building the best employment brand is
"commitment“
• Prospective employees become attracted to a company that
appeals to both their "issues of the heart" and "issues of the
head”. Employers need to think about how they want their
employees to feel as a result of working with them
Attraction strategies – Employer Branding
• Be clear about what you have to offer and communicate it
well - should know what your company stands for, and be real
about how you present this
• Its about the experience the firm has to offer the employee
and about how it engages its employees
• Ensure you build a culture underscored by respect and follow
written values with behaviours and actions - a new employee
will soon see the difference between written words and
actual behaviour
Talent Attraction / Retention
CSR - Corporate Responsibility
Talent Attraction / Retention
CSR - Corporate Responsibility
Attraction strategies – Job Quality
• Top people take jobs primarily because they meet their needs
for growth, challenge, and learning. Ask why a top person
would want this job? What big projects and challenges are
involved? Think about the real job and not just the skills listed
on the Job Description
• Tie the job to some bigger company initiative - for example,
someone in a call centre can be part of a growth expansion
plan, or someone in warehousing can be part of a complete
restructuring of the WMS. While a great company brand can
get the person interested, you'll increase the acceptance rate
when the actual job ties to some bigger growth plans.
Attraction strategies – Job Quality or $$$
• As long as the compensation is fair, you have a good chance
to consistently hire top people, assuming the other factors
are positive.
• Don't sell the job on compensation; sell it on the chance to
make a big short term impact with an opportunity to grow at
a faster rate than all competing jobs.
• Make the job the differentiator, not the compensation. Some
other company can always pay more.
Attraction strategies – Employ & Develop
Potential
• Many employers struggle to identify the so called “ideal
candidate” for their open positions (old style recruiting). Look
instead for transferable Skills & Competencies
• Employ people with the right mind-set and attitude to
develop their skill sets and make the job a success
• Develop your talent through real internal and external
training, not just lip service
• Develop a real Talent Retention strategy to include structured
career development, meaningful assessment processes,
relevant KPI’s linked to bonus schemes, improved
participation, enjoyable but challenging work environment
Attraction strategies – Recruitment issues
• Be professional in the Recruitment Process - top people are
looking for leaders & mentors to work under so a
professional interview with high standards is essential
• Managers who understand the real job must be involved in
the recruitment process. Everyone who interviews the
candidate must assess them against the real job needs.
Candidates will be trying to assess quality of the employer
• Empower the Hiring Manager to handle the offer process
professionally. Keep the process moving, long delays = lost
candidates
• Be prepared to negotiate to secure the best people
Attraction strategies – Summary
• Attraction Strategy – do you have one?
• Competition for candidates – it’s all about job quality
• Candidate expectations are changing – not just $$$
• The “ideal fit” maybe not achievable – look for transferable
skills & competencies
• Look to developing local talent who will be the workforce of
tomorrow, develop real careers for Nationals, collaborate
with Colleges & Universities
Attraction strategies – Summary
• Develop a clear Talent Retention strategy and develop
Leadership at all levels
• Be professional in the recruitment process & keep the
process moving (delays = lost candidates)
• Use a professional recruiter with industry sector experience –
not just the cheapest!
Leadership……………..
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Are my leaders capable of executing our new
strategy?
Can our leaders drive operational excellence ?
How do I get them ready for the future?
Have we enough leaders at each level of the
business? (Bench Strength)
Implementing the Leadership Pipeline
Business Backdrop
Talent Needs
Action Plan
The Arrival of the Unprepared
Amongst Global
leaders, only 17%
indicate that their
organizations were
effectively preparing
leaders for
transition.
The Business Costs of Pipeline
Blockage
High employee turnover
• Low workforce engagement
• Inability to compete
• External promotions > Internal promotions
• Long ramp up time in job
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Bottom-line: Inability to execute strategy
and take maximum advantage of market
opportunities
The Transition Model
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Experience
Knowledge
Competencies
Personal Attributes
Leadership Success Profile
Performance
Experience
What I have done
Competencies
What I am
capable of
Personal
Attributes
Knowledge
What I know
Who I am
Transitional Leadership Program
PERFORMANCE
MANAGEMENT
1
Individual
Contributor
2
People
Leader
2ND
CAREER
MANAGEMENT
SUCCESSION
MANAGEMENT
3
Business
Unit
Leader
1ST
3RD
TRANSITION
TRANSITION
TRANSITION
Leadership
Leadership Development
Leadership
Development Centre
Centre
Development
Courses
Centre
Courses
Coaching
Mandatory Courses
Executive Coaching
Special Assignments
Coaching
Special Assignments
4
Strategic
Leader
Leadership
Development
Centre
On-going
Development
Executive
Coaching
Special
Assignments
Transition Model
Strategic
Operational
People Leader
Informal & Emerging Leader
Implementing the Leadership Pipeline
Business Backdrop
Talent Needs
Action Plan
Leadership Impacts the Bottom Line
• Financial Performance
19%
 Talent
Management
• Productivity
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• Quality of Products/Services
Strong
Development
20%
• Customer Satisfaction
10%
• Employee Satisfaction
14%
• Retention of Quality Employees
15%
17%
Managing the Recession
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Review fundamentals & business model and address weaknesses
Take a view of economic conditions and plan accordingly
Lead change when necessary - plan for 2 years of challenging times
Develop plans to ensure costs match with revenues, improve flexibility,
reduce risk, shorten lead times, focus on core business, restructure,
rationalise….
Be prepared to exploit real opportunities as they come along
Focus on winning market share from your competitors
Look at the market in real time – act on realities
Recruit and Retain the best people to realise these strategies & plans
(courtesy Joe Carr, Mazars)
How can Logistics Executive help?
• Assist in tuning your Business Strategy
• Define Success Profiles for all key roles
• Measure the quality and availability of
talent in these key positions
• Implement Assessment processes
• Performance management / monitoring
• Specialist Recruitment to close the gaps
• Global Specialist in the Logistics & Supply Chain sector
• Executive Search, Recruitment & Consultancy
• Senior staff from the industry with many years
international experience – we know the business
• Offices in Amsterdam, Dubai, Singapore, Shanghai,
Sydney, Melbourne
• Know and understand the regions we work in
• Wide ranging client base in the Middle East & Africa
• A truly consultative value added service!