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IPMA CIMA Key Note Presentation on "Winning the War for Talent" 8 January 2013

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IPMA CIMA Key Note Presentation on "Winning the War for Talent" 8 January 2013

  1. 1. INTELLECTUAL CAPITAL: STRATEGIC DIFFERENCE Winning the War for Talent Prof Sattar Bawany Strategic Advisor, IPMA Asia Pacific Managing Director, EDA Asia Pacific Tuesday, 8 January 2013 Cinnamon Grand, Colombo, Sri Lanka © 2013 IPMA Asia Pacific
  2. 2. 2 Are You A Tiger Or Deer? Every morning in Asia, a deer wakes up. It knows it must run faster than the fastest tiger or it will be killed. Every morning in Asia, a tiger wakes up. It knows it must outrun the slowest deer or it will starve to death. It doesn’t matter whether you are a tiger or a deer: when the sun comes up, you’d better be running….. © 2013 IPMA Asia Pacific
  4. 4. 4 About Your Facilitator  Strategic Advisor, IPMA Asia Pacific  Managing Director & C-Suite Coach with EDA Asia Pacific  Co-Chair of the Human Capital Committee of the American Chamber of Commerce in Singapore (AmCham Singapore).  Member of Frontier Strategy Group’s Expert Advisory Network (EAN) for Talent Management issues in Asia Pacific advising CEOs and CHROs of global and regional organisations.  Over 25 years’ international business management in executive coaching, facilitation, leadership development and training  Adjunct Professor of Strategy at Paris Graduate School of Management teaching international business strategies, leadership development and human resource courses  Previously assumed senior leadership roles with global management & HR consulting firms: DBM Asia Pacific, Mercer Human Resource Consulting, The Hay Group and Forum Corp © 2013 IPMA Asia Pacific 4
  5. 5. 5 Who We Are  The International Professional Managers Association (IPMA) is a global ‘not-for-profit’ (NPO) members organisation headquartered in Kent, UK with Regional Offices in Europe, Africa and Asia Pacific  IPMA mission as an International Examining, Licensing and Regulatory Membership Qualifying Professional Body to improve managerial performance at all levels  IPMA is the Strategic Partner of Executive Development Associates Inc. (EDA) for executive coaching and customdesigned leadership development solutions to accelerate individual performance  EDA established in 1982 is a pioneer and leader in creating custom-designed learning and executive/leadership development strategies, programs and processes to help clients (many Fortune 500 companies) achieve their strategic objectives and win in the marketplace. © 2013 IPMA Asia Pacific 5
  6. 6. 6 Workshop Objectives This workshop will provide you with a foundation of knowledge that will enable you to:  Gain an Understanding about the Context for Talent Management in today’s Global Economy  Develop the Business Case for Talent Management  Understand the Strategic Importance of Succession Planning for the Organisational’s Future Success  Leverage on a Proven Framework for Developing Future Leaders (including High Potentials)  Learn the Lessons from Leading Global Organisations in Talent Management & Succession Planning © 2013 IPMA Asia Pacific
  7. 7. TALENT MANAGEMENT © 2013 IPMA Asia Pacific
  8. 8. 8 What is Talent Management (TM)? The purpose of TM is to ensure that the right supply of talented workforce is ready to realize the strategic goals of the organization both today and in the future Organization’s efforts to attract, select, develop, and retain key talented employees in key strategic positions. Talent management includes a series of integrated systems of  recruiting,  performance management,  maximizing employee potential, managing their strengths and developing  retaining people with desired skills and aptitude © 2013 IPMA Asia Pacific
  9. 9. 9 Talent Management     TM introduced by Mc Kinsey consultants, late 1990’s TM is identified as the critical success factor in corporate world TM focuses on  differentiated performance: A, B, C players influencing company performance and success  identifying key positions in the organization Research has consistently show that firms recognize the importance of talent management but they lack the competence required to manage it effectively © 2013 IPMA Asia Pacific
  10. 10. 10 What is Talent? According to McKinsey; talent is the sum of  a person’s abilities,  his or her intrinsic gifts,  skills, knowledge, experience ,  intelligence,  judgment, attitude, character, drive,  his or her ability to learn and grow. © 2013 IPMA Asia Pacific
  11. 11. 11 Who are Talented People?    They regularly demonstrate exceptional ability and achievement over a range of activities They have transferable high competence They are high impact people who can deal with complexity (Robertson, Abbey 2003) © 2013 IPMA Asia Pacific
  12. 12. 12 The Business Case for Talent Management     To compete effectively in a complex and dynamic global environment to achieve sustainable growth To develop leaders for tomorrow from within an organization To maximize employee performance as a unique source of sustainable competitive advantage To empower employees:   Cut down on high turnover rates Reduce the cost of constantly hiring new people to train © 2013 IPMA Asia Pacific
  13. 13. 13 Talent Management: Value Proposition  Talent Management strategies help ensure the quality, depth and diversity of a company’s leadership and talent bench.  Effective Talent Management accelerates businesses’ ability to exceed performance expectations and drive future growth by:  Developing talent with the values, skills and experiences needed to be successful today and in the future  Aligning and integrating core HR processes with business processes to increase individual, team and organizational performance © 2013 IPMA Asia Pacific
  14. 14. 14 Talent Management Model Vision, Mission, Strategy and Values Talent Management Strategy Talent Acquisition Sourcing, Selection and Onboarding Talent Management Workforce Planning; Talent Planning, Leadership Pipeline and Succession Planning Talent Development Performance Management; Leadership Development; Accelerating High Potential; Executive Coaching © 2013 IPMA Asia Pacific
  15. 15. 15 Talent Management fit within HR?   Vision - Partner with the business to create organizational excellence through leadership and talent acquisition, management, development & engagement Goal – Align & integrate core HR processes with business processes TALENT ACQUISITION Proactively recruiting world-class, diverse leadership talent Executive Recruiting New Leader OnBoarding Assessment TALENT MANAGEMENT Ensuring a strong leadership pipeline to drive growth for today and tomorrow. Talent Planning TALENT DEVELOPMENT Developing and executing programs, processes & tools to grow our current and future leaders Leadership Programs for High Potentials Executive Coaching Candidate Slating Global Talent Development Performance Management and 360 Feedback Development Planning TALENT ENGAGEMENT Identifying the level of engagement of employees to optimize contribution and reduce enhance retention Employee Satisfaction and Engagement © 2013 IPMA Asia Pacific
  16. 16. 16 ROI on Engaging Your Talent Organisational Results • Profitability/ROI • Cost Optimisation • Employee Turnover / Retention Customer Loyalty • Customer Satisfaction • Service Value/ Relationship Talent Engagement • Employee Satisfaction • Employee Loyalty Organisational Climate Leadership Effectiveness • Policy on CSR, Sabbatical • Rewards and Flexibility • Culture, Espirit De Corps • EQ Level & EI Competencies • Servant Leadership/Level 5 • Leadership Styles Bawany, S. (2011) “Ways to achieve Organisational Success: Role of Leaders in Engaging the Multi-Generational Workforce” published by Singapore Business Review, 1st November 2011. © 2013 IPMA Asia Pacific
  17. 17. 17 Group Discussion  One of the biggest challenges in Talent Management from an HR perspective is to obtain commitment from line management. What is your experience on the above and also identify other potential obstacles or barriers to successful implementation of Talent Management?  Prepare your Group Response on Flipcharts and appoint a  Spokesperson to Present to the larger Group  Duration: 15 mins (Discussion) 5 mins (Presentation) © 2013 IPMA Asia Pacific
  18. 18. 18 Video on Your Role as Chief Talent Officer (CTO) How great leaders inspire action - Simon Sinek has a simple but powerful model for inspirational leadership all starting with a golden circle and the question "Why?”. Why should your Talent remain with your Organisation and as your Follower? “If you hire people just because they can do a job, they’ll work for your money. But if you hire people who believe what you believe, they’ll work for you with blood and sweat and tears.” - Simon Sinek References: © 2013 IPMA Asia Pacific 18
  19. 19. 19 Video on Talent Managment@GE Discussion of the role of Talent to GE's success including HR's role in working with the CEO's. © 2013 IPMA Asia Pacific
  20. 20. SUCCESSION PLANNING © 2013 IPMA Asia Pacific
  21. 21. 21 Business Case for Succession Planning “Crisis may be an overused word, but it’s a fair description of the state of leadership in today’s corporations. CEOs are failing sooner and falling harder, leaving their companies in turmoil. At all levels, companies are short on the quantity and quality of leaders they need.” Reference: Ram Charan, “Leaders at All Levels”, Jossey-Bass, Wiley, San Francisco, California, 2008 © 2013 IPMA Asia Pacific
  22. 22. 22 Building a Strong Leadership Bench …all delivered through a series of integrated programs & processes… • • • Employee Satisfaction • Quarterly Business Reviews • Business Performance 360 feedback • Ongoing planning • Performance Management • • Pay & Rewards Business demands/strategy Management Routines HiPo Assessment & Executive Coaching • Executive Education Programs • Recruiting & Sourcing Continuously Develop and Upgrade Assignment Management • Leadership Expectations & Values • Get right leaders in right roles Assessment & Selection • Manage Performance • • Workplace Actionbased Learning © 2013 IPMA Asia Pacific • On-boarding • New Leader-Team Assimilation • Grow / Develop Talent Talent Management / Succession Planning
  23. 23. 23 What is Succession Planning?  Succession planning is the process of identifying highpotential employees, evaluating and honing their skills and abilities, and preparing them for advancement into positions which are key to the success of business operations and objectives.  Succession planning involves:    23 Understanding the organization's long-term goals and objectives. Identifying the high-potential candidates and their respective developmental needs. Determining workforce trends and predictions. © 2013 IPMA Asia Pacific
  24. 24. 24 Steps Involved in Succession Planning 1. 2. 3. 4. 5. 6. 7. 24 Identifying legal and diversity issues to consider. Establishing present and future leadership roles and objectives. Selecting key employees . Evaluating the strengths, weaknesses and readiness for succession in key employees. Planning for the individual development of and ways to retain key employees. Identifying “emergency” positions without successors. Planning for positions that cannot be filled internally. © 2013 IPMA Asia Pacific
  25. 25. 25 The Talent Strategy Describes what type of people the organization will invest in and how it will be done Besides the specific elements of their creed, the talent strategy of all high performing organizations should have these directives: 1) Identify key positions in the organization (not more than 20-30 %) 2) Assess your employees and identify the high performers (classify according to their current and future potential) 3) Retain key position backups 4) Make appropriate investments (select, train, develop, reward) © 2013 IPMA Asia Pacific
  26. 26. 26 Assessing the Employees     Superkeepers- greatly exceed expectations (3-5%) Keepers – exceed expectations (20 %) Solid citizens- meet expectations (75 %) Misfits- below expectations (2-3 %) L. A. Berger, D. R. Berger. Talent Management Handbook: The Talent Management Handbook: Creating a Sustainable Competitive Advantage by Selecting, Developing, and Promoting the Best People, 2nd Edition McGraw-Hill, 2011 © 2013 IPMA Asia Pacific
  27. 27. 27 Who are High Potentials?  High Potentials consistently and significantly outperform their peer groups in a variety of settings.  While achieving these superior levels of performance, they exhibit behaviors that reflect their companies’ culture and values in an exemplary manner.  Show a strong capacity to grow and succeed throughout their careers within an organization – more quickly and effectively than their peer groups do. Reference: Douglas Ready, Jay Conger and Linda Hill, ‘Are You a High Potential? Harvard Business Review, June 2010 © 2013 IPMA Asia Pacific
  28. 28. Best Practice Succession Management Tool: GE* Nine Box Model 28 Growth Potential Low Medium High 8 - Hi Potential Future Leader Superior performer with moderate possibility of promotion to next level or expanded lateral move within organization within 1-3 years. 9 - Hi Potential Future Leader Superior performer. Strong possibility of promotion to next level or beyond within 12 months. 4 - Solid Performer Performance has been solid. Unclear whether individual can grow with the job. Unlikely to be ready for promotion in foreseeable future. 5 - Hold for Development Solid performer in current role. May be relatively new in position and still growing into job. Promotion likely in 2-3 years. 6 - Hi Potential Future Leader Solid performer with strong possibility of promotion to next level within Medium 1-3 years based on increased job performance in current role. 1 - Watch List Performance is weak in current role. Individual is doing just enough to get by. Chances of fixing are remote. Consideration should be given to replacing the individual. 2 - Watch List Performance not good. May be due to change in job scope or wrong job. Due to recent performance trend, potential may be questionable. 3 - Unusual Case Current performance is not good but past performance has been strong (could be short term issue or wrong job, etc.). 7 - Pro in Position Seasoned Professional. Consistently superior performer, difficult to replace but not likely to be promoted within 12 months. *GE Crotonville’s Management Training Center © 2013 IPMA Asia Pacific High Low Performance
  29. 29. 29 Tool: Sample Readiness Level Chart Key Position Title Incumbent Name Position Vulnerability Succession Plan Organization Name, in Open in Open Department Name Open in ___________________ < 1 Yr 1–3 Yrs 3 + Yrs © 2013 IPMA Asia Pacific Succession Candidate Names Ready in < 1 Yr Ready in 1–3 Yrs Ready in 3 + Yrs
  30. 30. 30 Sample Development Tool: High Potential Assessment - 1Plan NAME: ________________ TITLE: ________________ Overall Performance Summary: (Indicate recent performance including major accomplishments or performance issues.) Key Strengths: (List 2 - 3. Indicate key technical or professional competencies, skills or knowledge the person has.) Development Needs: (List 2 or 3. Indicate key experiences, skills or knowledge the person lacks in order to move to the next level.) Development Actions: 1. On The Job: (What new responsibilities do you plan to assign to help this person develop this year?) © 2013 IPMA Asia Pacific
  31. 31. 31 Sample Development - 2 Tool: High Potential Assessment Plan (cont’d) 2. Special Assignment: (What task force, projects or special assignments will be given this year to aid development?) 3. Training: (What specific training or seminars are recommended this year for his/her development?) Potential For Promotion: (Indicate this persons readiness to be promoted to the next organizational level.) Ready now for the next level. Ready in the next 24 months. Ready in 2 to 3 years. Recommended Next Position: (List the next assignment that would most benefit the individual in his/her development.) © 2013 IPMA Asia Pacific
  32. 32. Competencies for Development of High Potentials 32  Successful High Potential leaders demonstrate a high degree of Emotional Intelligence and create an environment of positive morale and higher productivity resulted in sustainable employee engagement  Critical EI competencies such as relationship management; cross cultural communication; effective negotiation and conflict management Reference: Sattar Bawany, Maximizing the Potential of Future Leaders: Resolving Leadership Succession Crisis with Transition Coaching’ in ‘Coaching in Asia – The First Decade’. September 2010 Candid Creation Publishing LLP.; Singapore © 2013 IPMA Asia Pacific
  33. 33. 33 Framework for Developing Future Leaders High Potentials Action Plan Gaps Company Expectations Company Feedback Coaching Methodology Transition Readiness Assessment Awareness Analysis Action Achievement Individual Feedback Individual Expectations Gaps Action Plan Reference: Sattar Bawany, The ART of War for Talent, Human Capital (SHRI), Vol. 10 Issue 1 – January 2010 p38-42 © 2013 IPMA Asia Pacific
  34. 34. COMPETENCY MODELLING © 2013 IPMA Asia Pacific
  35. 35. 35 What is Competency? Competencies are the core elements of talent management practices They are the demonstrable and measurable knowledge, skills, behaviors, personal characteristics that are associated with or predictive of excellent job performance. Examples  Adaptability, teamwork, decision making, customer orientation, leadership, innovation etc. © 2013 IPMA Asia Pacific
  36. 36. 36 Examples of Competencies and Definitions Action Orientation Targets and achieve results,overcomes obstacles, accepts responsibility, creates a results-oriented environment..... Interpersonal Skill Effectively and productively engages with others and establishes trust, credibility, and confidence with them Creativity/Innovation Generates novel ideas and develops or improves existing and new systems that challenge the status quo, takes risks, and encourage innovation Teamwork Knows when and how to attract, develop, reward, be part of, and utilize teams to optimize results. Acts to build trust, inspire enthusiasm, encourage others, and help resolve conflicts and develop consensus in supporting higperformance teams L. A. Berger, D. R. Berger. Talent Management Handbook: The Talent Management Handbook: Creating a Sustainable Competitive Advantage by Selecting, Developing, and Promoting the Best People, 2nd Edition McGraw-Hill, 2011 © 2013 IPMA Asia Pacific
  37. 37. 37 Why Competencies? The challenge is to identify which competencies the organization expects to see in their people The starting point of the model is the creed (values, principles, expectations) and the business strategies       Through a competency model the organization sends a consistent message to the workforce about “what it takes” to be successful in the job Helps employees understand what helps drive successful performance The Competency Model approach focuses on the “How” of the job. Competency model is behavioral rather than functional, focuses on the people rather than jobs Competency models are outcome driven rather than activities (Job descriptions focus on activities, competencies focus on outcomes) Integrates HR strategy with business strategy –both focus on outcomes © 2013 IPMA Asia Pacific
  38. 38. 38 Why Competencies? The competency model serves as the foundation upon which all workforce processes are built. Competencies promote alignment of talent management systems by creating a common language that enables these systems to talk with each other! That is, results of one TM system is used as the input data for the following TM system. © 2013 IPMA Asia Pacific
  39. 39. 39 The Competency Model  The Competency Model identifies usually three groups of competencies:    Core competencies for the entire organization to shape the organizational capabilities and culture required to achieve the strategic goals (5 or 6) Leadership competencies for the management teams of various levels for selection, career planning and development Functional (technical)competencies (specific for each job family) © 2013 IPMA Asia Pacific
  40. 40. 40 Developing a Competency Model  Use commonly available “ready to use” models with small adjustments for your organization  Develop own competency model with help of external consultants where necessary  Behavioral Benchmarking compare superior performers with other best people in the organization and in other benchmark companies © 2013 IPMA Asia Pacific
  41. 41. 41 Developing Organization’s Own Competency Model       Overview of current tasks and responsibilities Come to agreement about what successful “outcome driven” performance looks like Review of competency library and selection of “must haves” for the position Rank top competencies as demonstrated by exemplary (superior) performers Identify of those competencies that align with the vision, mission and strategic plan of the organization Verify the competencies with a larger sample of the organization © 2013 IPMA Asia Pacific
  42. 42. 42 Competencies & Talent Management TALENT=COMPETENCE+COMMITMENT+CONTRIBUTION      Being competent is not only enough to be a talent The competent person should be committed to the causes and goals of the organization And should be able and willing to contribute to the success of the organization So, developing your talent is not enough, the organizations need to take all the measures to motivate, reward their talent pool to gain their commitment and contribution. Retention is also essential to gaurantee future alignment of the talent with the right key positions © 2013 IPMA Asia Pacific
  43. 43. Integrative Case Study on Talent Management and Succession Planning © 2013 IPMA Asia Pacific 43
  44. 44. Integrative Case Study on Talent Management and Succession Planning  Succession Planning Process:  Identify a critical position in the organization (Ann, the CEO) Delve down three levels below the critical position: no one, then Abby (Head of HR), and finally Robin (Head of Organisational Excellence)  Looking at this example, what are the potential  challenges do you foresee?  Prepare your Group Response on Flipcharts and appoint a Spokesperson to Present to the larger Group  Duration: 15 mins (Discussion) 5 mins (Presentation) © 2013 IPMA Asia Pacific 44
  45. 45. 45 Summary: Talent Management Process Performance Evaluation Buss. Results Personal Development Activities Organization Analysis -Job descriptions -Job spesifications Analysis Assessing the Emloyees A B C Potential Candidates D Talent Review Committees Potancial Candidates and Succession Lists Approval of the Lists January - April May-June © 2013 IPMA Asia Pacific Assessment Talent Development Programs Development July onwards......
  46. 46. 46 Summary : Top Lessons Learnt  For leading global organisations, both HR and business leaders recognize that talent is a critical driver of business performance. It comes as no surprise then that talent management practices are often cited as a key strategic priority. No strategy can be effective without the support of senior leadership and talent management is certainly no exception. Achieving sustained organizational performance through the development of a capable workforce lies at the very heart of talent management. The ability to develop next generation of leaders who can effectively face tomorrow’s global business challenges is critical to an organization’s success. But it won’t be easy. You need to invest in it! © 2013 IPMA Asia Pacific
  47. 47. 47 Video: Make Makes a Great Leader? © 2013 IPMA Asia Pacific
  48. 48. 48 Final Thoughts If you do tomorrow what you did yesterday Your Future is History…………… If you do tomorrow what we’ve covered today Your Future is Historic!!! © 2013 IPMA Asia Pacific
  49. 49. 49 Keeping in Touch on Social Media Prof Sattar Bawany Strategic Advisor, IPMA Asia Pacific & Managing Director, EDA Asia Pacific Email: LinkedIn: Facebook: Twitter: Skype: sattar.bawany © 2013 IPMA Asia Pacific