Transcript Broad-Based Black Economic Empowerment: Legislation and

Talent Management
Andre O’Callaghan
November 2008
Introduction
"The thing that wakes me up in the
middle of the night is not the economy
or competitors; it is whether we have
the leadership capability”.
(David Whitwan, former CEO of Whirlpool Corporation)
Some Perspectives
• In the 21st century: Talent is the new wealth
• We are poachers of talent vs developers of
talent
• Most companies play “talent management
catch-up” and not managing talent (GIBS)
Some Perspectives
• Talent management is a 2-way relationship
between the company and the employee
• If not: “bodies” filling jobs
The requirements
of the organisation
+
The offering by the
potential employee
=
The mutual benefit
of both parties
Focus of Talent Management
Bodies
Hearts
& Minds
Nr’s &
Quality
Contract
“Hard” TM
“Soft” TM
Challenges
•
“A” Players versus “B” Players
• Developing talent vs employability
• Raised threshold of entry
• Identification of dormant talent
• Skills practice in the workplace
Trends
• One third of the US federal working
population will be retired by 2008
• Over 31000 vacancies in the Australian
healthcare system
• 60% of future jobs will require training that
only 20% of the current workforce possess
Trends
• 85% of current jobs require post-high school
education (compared to 61% in the 1990’s)
• Disengaged workforce
• 70% of companies surveyed by BPM in 2007
- not effective in measuring staff performance
and productivity
Benefits
•
Reduction of recruitment costs and risks
•
Effective knowledge management and transfer
•
Realisation of business strategy
•
Delivery of cutting edge services and products
Benefits
• Creating a competitive advantage
• Improved client retention (no loyal customers
without loyal employees)
• Maintaining adequate capacity
9-Box Matrix
-
Potential
High
3
6
9
Medium
2
5
8
1
4
7
Low
Under
Good Strong
Performance
9-Box Matrix
Potential
The sky is the limit: demonstrates the
ability to operate at two or more levels
above their current position
Demonstrates the ability to move to a
bigger/expanded role or to operate at one
level above their current position
Has not demonstrated the ability to move
beyond their current role
High
3
6
9
Medium
2
5
8
1
4
7
Good
Strong
Low
Under
performing
Below expectations
Performance : did not meet the
roles minimum targets on a
consistent basis
Direction for business: did not set
a clear direction for the business
or did not set a direction that
enhanced the unit’s profitability
People leadership : did not lead or
develop teams effectively
Execution : did not deliver on a
consistent basis
Met expectations
Performance : reached expected
targets and moved towards the
stretch targets of the role
Direction for business: set
direction for the business unit
which helped improve profitability
People leadership : develops and
contributes to effective teams
Execution : possesses a results
orientation and achieves impact
Performance
Exceptional
Performance : consistently
exceeds expected and stretch
targets of the role
Direction for business: set clear
direction for the business unit,
leading to profitable growth
People leadership: Fosters an
effective team environment and
has strong followership
Execution : consistently delivers
with high impact
Identifying Talent
“Talented individuals are mobile
monopolies with global passports.”
(Karaoke Capitalism – Ridderstrale & Nordstrom)
Identifying Talent
A recent McKinsey survey in top SA companies
showed:
• Only 20% of SA executives know who the top
performers are
• Only 3% of top SA executives develop
people effectively
Identifying Talent
Cognitive
Attitude
Action
Key Elements of Identifying &
Assessing Talent
• Performance data
• Talent review meetings
• Track record reviews and evaluation
• Qualifications
• Psychometric assessments
• Development/assessment centres
• Multi-source feedback reports
Success Factors
• Planned approach
• Marker-driven
• Invest
• Timing of retention
• Good job design
C
o
m
p
l
e
x
i
t
y
Overstretched
•Self-clumsiness
•Worry & selfconscious
•Anxiety & stress
•Position power
•Low productivity
•Task overload
Meaningful
jobs
Capabilities
Underutilised
•Frustration &
boredom
•Stress
•Anxiety
•Empire
building
•Interference
•Outside focus
Success Factors
• Compensation
• Social Ties
• Communication
• Reward talent management
Remuneration
• War on talent often becomes the “pay war”
• Value of golden handcuffs?
• The stars:
– Performance often decreases over time
– It affects team performance in a significant way
– Stars’ performance in one organisation is often not
repeated in another company
– Tend not to stay for long - the “young and the
restless” syndrome
Challenges
• Talent don’t want to be led, they want to be
inspired
• Talent knows their value and expect you to
know it as well
• Talent is very mobile
• Talent want protection and recognition
Challenges
• Talent needs freedom to experiment and to fail
• They need leaders to be on their level
intellectually and in all other spheres
• Leading talent is all about emotions
Challenges
“If you want them to turn right,
tell them to turn left”
(Rob Goffee, 2007)
Challenges
Attitudes of talented people towards organisational
issues
• Scornful of hierarchies
• Fancy job titles and promotions – no value
• They want to stay “close” to the “real work”
• They do not want leadership
Challenges
Attitudes of talented people towards organisational
issues
• They want instant access to the decision-makers
• They have a low boredom threshold
• They want to feel special
• They won’t thank you
SMME’s
Challenges:
•
Lack of Specialized Expertise
•
Fewer Economies of Scale
•
Hiring right
SMME’s
Advantages:
•
Employee knowledge and relationships
•
Flat structures and effective communication
•
Sense of Belonging
Questions
&
Answers