Leadership & Strategy Strategic Talent Management(STM) Super Specialisation

First Lecture

Prof. V.K. Chhabra

The objectives of STM is

Transformation of the organization through human resource capital management, Developing tomorrows Leaders for the competitive world

Integration of Talent management process at all levels and for every employee

Leadership & Strategy (Bill Gates of Microsoft/ Narayan Murthy of Infosys)

Core competencies & strategies (Bill Gates of Microsoft/ Narayan Murthy of Infosys)
Core Competencies and Strategy

Core competencies

The resources and capabilities that have been determined to be a source of competitive advantage for a firm over its rivals

Strategy

An integrated and coordinated set of actions taken to exploit core competencies and gain a competitive advantage

Business-level Businessstrategy

Actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product markets

Contrasting Competencies vs. Skills (IT engineer Vs hardware technician)

Competencies Competencies

Competencies
Behavioral categories that influence job performance such as building relationships, managing stress, planning & organizing People are effective or ineffective at competencies Competencies are primarily developed as a result of on-the-job learning Most people struggle to assess their own effectiveness with regard to competencies

Skills
Knowledge & experience required for jobs

People know or dont know skills Skills are developed through a mix of formal training, education & experience People can assess their own skills if given clear definitions for proficiency levels

Age of Talent Management

We have moved from the industrial age, through the information age, to the age of talent.

Measuring the Success of Talent Management

Take our

20 best people away and I can tell you that Microsoft would become an unimportant company

Talent = Competitive Advantage

The only unique asset that a business has for gaining a sustained competitive advantage over rivals is its workforcethe skills and dedication of its employees. There is no other sustainable advantage in the modern, high-tech, global economy.

Indra Nooyi, CEO PepsiCo

If you want 1 year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow people.

Ancient Chinese Proverb

Source of Value: People

Percentage of Market Value Related to

38%
Intangible Assets

62%

80%

Tangible Assets

62%
1980

38%
1992

20%
2002

Intangible Assets : people, R&D, innovations, brand, patents etc

Perspectives on Talent Management

People are not your most valuable asset ..The RIGHT people are

Organizations need to get the right people on the bus and in the right seats to succeed.

Good coaching, training, mentoring, etc. is not likely to make up for bad selection

Talent is not an inherent quality, it can be developed and nurtured. Talent can convert from zero to hero It is much cheaper to develop a star than it is to go out and buy one.
Candidates = Talent, Leadership and application of knowledge. Talent will only multiply in an inspiring organisation

Transition from HR to Talent Management

HRM WAYS HR is responsible for people management HR provides pay and benefits TM WAYS All managers, starting with the CEO, are accountable for strengthening their talent pools We shape our organizations, our jobs, even our strategy, to appeal to talented people Recruiting is like marketing TM fuels development primarily through stretched jobs, hedging and mentoring We affirm all our people, but invest differentially in A, B and C players

Recruiting is like purchasing HR thinks development happens in training programs

HR treats everyone the same and likes to think that everyone is equally capable

TALENT DEFINED
 Talent is defined as the competencies of current and future employees in relation to the firms current and future strategic business goals.  Having talent thus means that a firm has the employees who possess the desired position characteristics and requirements needed to achieve the business goals.  Talent is thus different from performance, and is related to the person and not the position.  Unlike a natural resources (which get depleted) or capital or money (which loses its economic value). Talent generates value and matures with experience and passing of time

Strategic Talent Management: Introductory Perspective

Talent management is also known as HCM (Human Capital management)or HRMS (HR Management Systems)

This term "talent management" is usually associated with competencybased human resource management practices

Talent management refers to the process of developing and integrating new workers, developing and retaining current workers, and attracting highly skilled workers to work for a company

Strategic talent management is the integration and flow of talent through out the organization at all levels.

Strategic Talent Management: Introductory Perspective

 Talent management is a process that emerged in the 1990s and continues to be adopted, as more companies come to realize that their employees talents and skills drive their business success  It consists of those individuals who can make a difference to organisational performance, either through their immediate contribution or in the longer-term by demonstrating the highest levels of potential.  The major aspects of talent management practiced within an organization must consist of performance management, leadership development, workforce planning, identifying talent gaps, etc  Ultimately, organisational success is the most effective evaluation of talent management

Strategic Talent Management: Introductory Perspective

 A talent management system must be worked into the business strategy and implemented in daily processes throughout the company as a whole  It cannot be left solely to the human resources department to attract and retain employees, but rather must be practiced at all levels of the organization

 There has been a clear shift from talent attraction to talent engagement, organizational development and people development.

Person-Organization Fit

Person-Organization Fit


Personality and work group (cultural fit):

Conscientiousness

(careful, hardworking, organized, etc.) Agreeable (cooperative, good-natured, tolerant, etc.) Extroversion (sociable, gregarious, talkative, etc.) Emotional stability (anger, worry, insecurity, etc.) Openness to experience (flexible, curious, open to ideas, etc.)


Personal values and organization values. Personal interests and organization opportunities. Expectations and rewards.

Talent Management is One Part Mindset One Part Practices One Part Technology
Giving Those that Have the Talent Mindset the Capability to Deliver

Five Lessons for Talent Management

1. Make talent management a top priority in your organization: Recognize that you can have a brilliant strategy, but without the talent to execute it, it will never materialize

2. Develop a comprehensive approach, as well as a commitment to track, develop, reward, and keep top talent. 3. Ensure that HR plays a strategic role:
HR should be anticipate trends in the outside environment that affect the management of talent in the company and identify their implications with respect to the ability of your company to execute its strategy.

Five Lessons for Talent Management

4. Develop a well-crafted story that describes your companys mission and values:
Every employee must have a clear idea of what the company stands for and live those values every day

5. Understand why people join your company, why they stay, and why some of them leave:
Develop an action plan to accentuate the positives and minimize the negatives

Strategy and Talent Together for Sustained Performance

Strategic and Organization Alignment

Talent and Performance Management

Leadership and Executive Development

Organization Alignment and Effectiveness

Core Offerings Strategic Alignment Culture Alignment M&A and Post-Merger Integration Fast Consolidation

Leadership and Executive Effectiveness

Core Offerings Executive Coaching Executive & Leadership Education Executive On-boarding Senior Team/Board Effectiveness

Talent Management

Core Offerings Succession Planning Workforce Planning High-Potential Engagement Executive Compensation

Core Capabilities

Leadership Assessment Competency Model Development Executive Coaching and Leadership Development programs
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Effective Talent Management for Retention

Retaining Talent

Attracting Talent (external) Identifying Talent (internal)

Talent Management

Utilising Talent

Developing Talent

THANK YOU
DEVELOP YOUR CORE COMPETENCIES