Building Talent Pipelines
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The document discusses building talent pipelines and acquiring the right talent. It notes that human capital is now critical for organizational success and the chief talent officer is as important as the CEO. Companies must find the right balance of developing internal talent while also acquiring external talent. There is no single right strategy, as factors like an organization's needs, skills availability, and competitiveness must be considered. Both developing current employees and hiring new talent from outside are important for organizational growth.
Building Talent Pipelines
- 2. The War for Talent=The 100 Year War! The BCG Study has established that Human Capital is a MUST component for organizational success The old adage-cash is king-no longer holds true The Chief Talent Officer is now considered equivalent to the CEO in importance Our formal education system is no longer ‘fit for purpose” The skill gap is widening The war for talent continues relentlessly
- 3. POLL In the war for talent is the CTO equivalent to or more important than the CEO? -Yes he is more important than the CEO -He and the CEO are equally important The CEO is the most important person in the organization
- 4. Common to everything Identifying the right talent acquisition strategy Developing internal talent Striking the right balance between internal and external talent
- 5. Make or Buy? Quickest and best way to achieve strong leadership- make or buy? Buying is faster? Building internally is better? Will a blend work and if so at what levels? Is there a industry or domain specific pattern
- 6. POLL A relevant talent strategy for middle managerial jobs for a 10 year old Co will have -60%Internal/40%Externals 50/50 blend 80Internal/20External 90 Internal/10 External
- 7. Is there a right strategy? Complexity of skill requirement Forecasting needs Developing from scratch with academia Competition for skill acquisition Consistency of requirement flow Competence of hiring team Do we outsource-RPO?
- 8. POLL In the long run it is more productive to buy external talent Agree Disagree
- 9. What will go into my strategy? Sourcing at different levels and linkage to succession Changes with business changes Geographical availability Short-term tactics vs long-term plans “the bench” Using the Welch technique-replacing the bottom 5% Structured process of acquisition Open-sourcing-a double-edged sword Campus and lateral hiring balance
- 10. Creating the Internal Talent Pool Source of sustainable resource for mission-critical positions Gives opportunities for advancement to less experienced persons to be evaluated fairly One of the main criteria for an Employee Brand and Value Proposition Need for a integrated systemic approach to create pipeline Accountability is of top leaders for the business growth Open-sourcing
- 11. Developing internal talent Succession planning for sustainability Should I share succession plans? Shadow boards Coaching and Mentoring as development tools The Learning and Development investments Diversity-Gender/Communities/Differently-abled/Alt Sexuality/affirmative action/geographies-a new caste system? Handling my ‘satisfactory” performers?
- 12. POLL My PMS must ensure that the bottom 10% performers leave every year to ensure fresh talent annually Agree Disagree
- 13. Using Talent Intelligence Determining factor between growth and stagnation Develop intelligence for sourcing strategy Market mapping Buying data bases Ensuring internal HRIS’s are being used properly- SAP/Oracle/PS? What is competition doing? Do we collaborate OR compete Getting the best out of your Search Partners- converting them from Vendors to Business Partners
- 14. Social Media usage Do we really understand how to make it work for us From FB and Linked-In to Blogging/Tweeting/web Enterprise 2 Part of talent attraction /EB savviness
- 15. Employee REFERRALS Effectiveness The conscience-keepers Reward Building strong relationships with people you want to hire Encourage employees to go out and recruit for you
- 16. The Employee Brand / EVP/Engagement Are these necessary How effective are they What really attracts an employee to work for an organization? The ME factor –understanding Gen Y aspirations and managing 3 generations in the work place simultaneously
- 17. Some considerations in external talent hiring Greater useage of psychometrics-who pays? Diversity and Affirmative Action-flavor of the month? Frequent job changers Mavericks-remember Ricardo Semmler? Internal vs external compensation parity Herd or Group Hiring-”Me and my team from my previous organization”
- 18. POLL Psychometrics should be the sole determinant of measuring a person’s abilities whilst hiring externally at middle and junior managerial levels Agree Disagree
- 19. Some considerations on internal talent Creating back-up for every 5 top levels Incentivise leaders for talent nurturing-both reward and recognition Communicate-communicate communicate Stay interviews vs Exit Interviews Competence Development Programs Job Rotation by design-see the Public Sector Greater exposure to senior leaders of Gen Y Projects and Transformational work
- 20. Finally-is there a right balance? Benchmarking Special needs for business growth Scarce skills Attrition Culture and leadership displayed A forward-looking organization is always scouting for talent even if there are no immediate vacancies Is there a right balance????