Attracting, Developing, and Retaining Talent 1 Talent Architect:

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Presentation transcript:

Attracting, Developing, and Retaining Talent 1 Talent Architect:

Talent Architect TALENT ACQUISITION There are three buckets that support our Talent Architect… TALENT MANAGEMENT TALENT RETENTION

Talent Acquisition Talent Acquisition includes: Selection Methodology Assessment (Statistical Validation of external and internal tools) Behavioral Based Interviewing On-Boarding Diversity Program

Decisio n Making Process Choose Interview Team Resume Screen Interest Screen Data Integration Behavioral Based Interviews Selection Assessments Reference Check Job Offer Job Profile On-Boarding Talent Acquisition Process

Talent Management Talent Management includes: Performance Management Leadership and Training Development Succession Planning Talent Assessment/Planning Executive Coaching Employee Development Program

Performance Management Strategy Total Rewards Strategy Development Planning Performance Reviews (Mid & End of Year) Goal Setting (OGTM) Quarterly Plan and Reviews Performance Management Strategy

Talent Planning Objectives Align beliefs around talent (Talent Philosophy) Agree on talent rankings by function (Talent Assessment) Classify jobs into categories (Position Identification) Set ratings goals for job categories (Position Evaluation) Identify training and development needs across the organization (Organizational Training Matrix) Determine rewards and recognition philosophy (Talent Retention Philosophy)

Position Identification A Position STRATEGIC B Position OPERATIONAL C Position STAPLE DEFINING CHARACTERISTICS Has a direct strategic impact AND Exhibits high performance variability among those in the position, representing upside potential Has an indirect strategic impact by supporting strategic positions and minimizes downside risk by providing a foundation for strategic efforts OR Has a potential strategic impact, but exhibits little performance variability among those in the position May be required for the firm to function but has little strategic impact Scope of AuthorityAutonomous decision making Specific processes or procedures typically must be followed Little discretion in work Primary determinant of compensation PerformanceJob levelMarket price Effect on value creation Creates value by substantially enhancing revenue opportunities are greater loss to the firm Supports value-creating positions Has little positive economic impact Consequences of mistakes May be very costly, but missed revenue opportunities are greater loss to the firm May be very costly and can destroy value Not necessarily costly Consequences of hiring wrong person Significant expense in terms of lost training investment and revenue opportunities Fairly easily remedied through hiring of replacement Easily remedied through hiring of replacement

Talent Planning Objectives Potential Assessment High Low A Jobs - Strategic B Jobs - Operational C Jobs - Staple Performance: an assessment of how an individual is doing in their current position. - This typically includes the assessment of the individual’s technical capability in their given field. Potential: an assessment of an individuals ability to move to higher levels of leadership. - Should have a solid foundation of leadership skills on which to build. - Should have potential to take on new roles/responsibilities - Not necessarily one specific job, but any number of roles within the company - Assess against leadership characteristics NOTE: It’s important to differentiate between high performance and high potential – but to consider both Susan Keith Bill Tom Judy Kathy Kevin Jim Paul Performance Results

Talent Retention Talent Retention includes: Compensation Strategy Values/Rewards and Recognition program Organizational Survey Culture

Total Rewards Strategy The Total Rewards Strategy aligns our pay for performance strategy to each of our compensation tools: Salary Structure Semi-Annual Promotion Program Semi-Annual Pay Adjustment Program Annual Merit Program Annual Performance Bonus

Success Metrics We analyze the following Talent Architect Success Metrics: Performance (Mid and End of Year) Performance to Leadership Competencies Employee Potential Productivity Job Satisfaction Attrition (Voluntary and Involuntary) Development Planning Training Success Metrics/Evaluations Program Evaluation(s)