Presentation on theme: "Talent Management – an essential key to Business Success “The importance of Talent Management in the current business environment ” Nigel Moore, Managing."— Presentation transcript:
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” … 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 1. Attractive Work Environment
Talent Attraction & Retention Top 10 Drivers 1. Attractive Work Environment 2. Respect
Talent Attraction & Retention Top 10 Drivers 1. Attractive Work Environment 2. Respect 3. Participation
Talent Attraction & Retention Top 10 Drivers 1. Attractive Work Environment 2. Respect 3. Participation 4. Recruitment Process
Talent Attraction & Retention Top 10 Drivers 1. Attractive Work Environment 2. Respect 3. Participation 4. Recruitment Process 5. Career Opportunities
Talent Attraction & Retention Top 10 Drivers 1. Attractive Work Environment 2. Respect 3. Participation 4. Recruitment Process 5. Career Opportunities 6. Leadership Training
Talent Attraction & Retention Top 10 Drivers 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 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 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 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 1.Accuracy of Job Representation10.Performance Objectives 2.Business Awareness11.Personal Vision & Career Path 3.Central Messages12.Physical Work Environment 4.Climate & Culture13.Pre-Employment 5.Co-Workers14.Reasons for Joining 6.Incremental Learning15.Recruitment & Selection 7.Learning Path16.Rotation 8.Mngr Alignment & Accessibility17.Safety & Behaviour 9.Orientation18.Senior Leadership Focusing on “attachment” is critical in addressing retention
“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
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…………….. 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 Bottom-line: Inability to execute strategy and take maximum advantage of market opportunities
Experience Knowledge Competencies Personal Attributes The Transition Model
Leadership Success Profile Performance Experience What I have done Competencies What I am capable of Knowledge What I know Who I am Personal Attributes
PERFORMANCE MANAGEMENT Transitional Leadership Program CAREER MANAGEMENT SUCCESSION MANAGEMENT Strategic Leader Leadership Development Centre On-going Development Executive Coaching Special Assignments Business Unit Leader People Leader Individual Contributor 3 RD TRANSITION Leadership Development Centre Courses Executive Coaching Special Assignments 2 ND TRANSITION Leadership Development Centre Courses Coaching Special Assignments 1 1 ST TRANSITION Leadership Development Centre Mandatory Courses Coaching 23 4
Strategic Operational People Leader Informal & Emerging Leader Transition Model
Implementing the Leadership Pipeline Business Backdrop Talent Needs Action Plan
Leadership Impacts the Bottom Line Talent Management Strong Development Quality of Products/Services 17% Retention of Quality Employees Employee Satisfaction 14% Customer Satisfaction 10% Productivity 20% Financial Performance 19% 15%
Managing the Recession 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!