TALENT MANAGEMENT & SKILL DEVELOPMENT - New(ish) perspectives Jim Collins 1 Bethan Greenall & Monika Czwerenko AQR July 2012 Copyright AQR

TALENT MANAGEMENT – what is it 2 Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles. CIPD 2011 July 2012 Copyright AQR

TALENT MANAGEMENT – how does it work 3 What does the organisation want to do? What are the core competencies? How can we reliably assess this? Where are the gaps? How do we attend to short term needs? How do we attend to long term? Culture? Knowledge Skills Behaviour Mind-set Can we assess impact and difference Evaluation Strategy (2) Diagnostic tools (3) Training Needs Assessment Tool (7) Talent Management Strategy (8) Best Practice Guide (10) July 2012 Copyright AQR

TALENT MANAGEMENT & SKILLS DEVELOPMENT 4  Ideas have been around for a long time – its not new  Has become topical – “gurus” have emerged  We can learn from this – if its plausible  Important to look at the subject in its own right and in context Jim Collins and Warren Bennis have done some work here which is very valuable for us. July 2012 Copyright AQR

Jim Collins - Author of “Good to Great” What did he do?  Originally at Stanford, he researched global businesses.  Challenged the “case study” gurus from the 1990’s. Found that they didn’t really look at sustainable success  Examined 1435 organisations that had featured in the Fortune 500 listing over a period of 30 years  Wanted to identify the companies that had featured consistently and sustainably over a long period of time (15 + years)  Originally focussed on the business sector. Has extended this to Social Enterprises. His findings hold good.  From that, he wanted to see if they had features in common which were predictors of success. July 2012 Copyright AQR5

Jim Collins - Author of “Good to Great” What did he find?  Only 11 companies could show a 15+ year track record !  10 out of 11 were led by introverts!!!  All did the same core things!! He called these Great Companies He also found there were good companies  They did many of the things great companies did – but not all of them July 2012 Copyright AQR6

Jim Collins What were these core things?  Good was the enemy of Great  Level 5 leadership  Right people was more important than vision!  Confront the brutal facts – never lose faith.  Focus – know your “one big thing”  A culture of strong Discipline  Avoid Technology Traps  Build momentum – no defining moment July 2012 Copyright AQR7

Jim Collins Good is the enemy of Great  Good companies set goals, achieved them and then lapsed into complacency  Success can be a trap What does this mean -  Continuous Improvement  CPD  Working harder and smarter!  Aspiration This is largely about mind-set and attitude July 2012 Copyright AQR8

Jim Collins Level 5 Leadership  Humility – you cant know everything – your people can  Showing commitment is critical  Be a leader with a “1000 helpers” – dispersed leadership What does this mean - Core competencies  Determination to Deliver  Engaging with individuals  Engaging with teams/ organisation (ILM72) Style & Culture is important (ILM72) July 2012 Copyright AQR9

Jim Collins Having the right people was more important than vision!  “first who …. then what”.  With the right people you can deliver anything – and respond to change.  Vision, strategy, etc is important but not as important as people What does this mean -  The essence of talent management July 2012 Copyright AQR10

Jim Collins Confront the “brutal facts” – never lose faith.  There will be setbacks and a need for change  Embrace it  See it as an opportunity  Collins called this “Hardiness” (now its called MT) What does this mean - Mental Toughness & Resilience – individuals and the organisation -Creating a flexible mindset  Control  Commitment  Challenge  Confidence (MTQ48) July 2012 Copyright AQR11

Jim Collins Focus – know your “one big thing”  What is it that you can be great at  Passion  Do you know how to measure it?  The Hedgehog & the Fox What does this mean -  Knowing what drives your economic engine  Measurement of key things is important – not everything! Mmmm? July 2012 Copyright AQR12

Jim Collins A culture of strong Discipline  “Sticking to your knitting”  Avoiding distraction with “great opportunities”  Developing people who are disciplined in thought, word and deed What does this mean –  People adhere to a consistent system  People have freedom and responsibility within that framework July 2012 Copyright AQR13

Jim Collins Avoid Technology Traps  Used technology but weren't faddists.  Will pioneer applications but not the technology.  Crawl, Walk Run. What does this mean -  With technology it pays to be a follower. Build momentum  Flywheel  No defining moment but motivational triggers  Crawl, Walk, Run. What does this mean -  No quick fixes!!  Building sustainable performance means sustained effort July 2012 Copyright AQR14

Mental Toughness – A layperson’s description Control - I really believe I can do it - I can keep my emotions in check when doing it Commitment - I promise to do it Challenge - I am motivated to do it – I can see the benefit Confidence - I believe I have the ability to do it - I can do it even if things get difficult Together these give rise to Mental Toughness Which we can measure using MTQ48 July 2012 Copyright AQR15

ILM72 – Leadership Style & Competence STYLE People/Task Flexible/Dogmatic Controlling/Delegating Reward/Punishment The Means/The End Structured/Organic COMPETENCE Determination to Deliver Engaging with Individuals Engaging with Teams/Organisation Which we can measure using ILM72 July 2012 Copyright AQR16

SUMMARY Collins shows us that  People are the key differentiator for long term success  Talent management – “right people” is the most important thing you can do  It connects to and supports all essential business activity  Measuring what you do is a key part of this July 2012 Copyright AQR17