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Marc Effron of The Talent Strategy Group from a webinar on the Top 10 Mistakes in Talent Management
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www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
The Top 10 Mistakes in Talent Management
(and how to avoid them)
Align. Develop. Reward. Retain.www.employee-performance.com
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
www.employee-performance.com
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www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
www.employee-performance.com
Marc Effron President, The Talent Strategy GroupAuthor, One Page Talent Management: Eliminating Complexity, Adding Value(Harvard Business Press, 2010)Founder, New Talent Management Network
HOST: Marc Effron
The Top 10 Talent Management Mistakes (and how to avoid them)
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #10: Not starting with the science
Science provides insights for everything we do
• How to set goals
• How to coach
• How to identify high potential leaders
• How much compensation matters
So is your first step always “starting the with science”?
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
About benchmarking . . .
It will get you to the 50th percentile, but never the 75th. Why?
• Science-based? Were their ideas based on proven facts or just leaders’ preferences at that company?
• Strategic Fit?: Were those programs developed to meet that company’s specific strategic goals?
• Implementation?: Benchmarking rarely uncovers the more subtle factors that allowed implementation (i.e. CEO support, large budget)
• Culture fit?: How would implementing this idea in your company affect your corporate culture?
5
Starting with the science ensures that you’re building on a stable foundation
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #9: Starting with an HR goal, not a business goal
What is the business goal/problem that you’re trying to solve?
• What is the business trying to achieve and what’s the simplest way to achieve it?
• Take off your HR hat
• No HR process has an independent right to exist
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
8: Letting employees set and evaluate their own goals
Did he just say that??
• Let’s go back to the science
• Performance is same whether employee or manager sets goals
• We are wildly inaccurate in our self-assessments
• Managers are best able to guide goals and evaluate results
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
8
Are there clear rules in your company about . . .
• How long is it OK to be an average (50th percentile) performer? How long in a key role?
• How accountable are managers to actually develop employees and what happens if they don’t?
• How transparent should managers be with their direct reports about their potential to advance in the company?
We all have personal opinions on these questions.Few companies have a clear set of rules.
7: Not Having a Talent Philosophy
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
9
• Performance
• Behaviors
• Differentiation
• Transparency
• Accountability
A talent philosophy defines five areas:
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
10
Where Does it Fit?
Talent Philosophy
The rules of the road for building your company’s talent
Your Company’sSuccess Model
The capabilities that will distinguish your best talent
The foundation for all talent
activities
Talent Reviews and Succession Planning
Ensure that high quality talent exists and that it can
sustain the business
Performance Management
Align employees with the needs of the business
The core processes for ensuring high performing talent
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #6: Not building our capabilities
Business Junkie
The Differentiating TwoBusiness JunkieThe Core Four
Trusted Executive Advisor
• Professionally Credible
• Forms Strong Executive Relationships
Courageous Advocate
• Has a Theory of the Case
• Is Appropriately Aggressive
Business Junkie
HR Disciple
Production Manager
Talent Authority
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake # 5: Focusing on the year-end instead of goal setting
Set Goals Observe & Coach Review Performance
Set a few high quality goals that create higher
performance
Keep everyone at a strong performance
level
Fairly and accurately assess performance
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
13
4: Not Creating a Talent Production Line
Talent should be built just like any other product– A production process should exist with clear specifications, a reliable production
line and strict quality control – When the process is run, it should actually produce talent
What are the specifications for the talent you plan to
produce and how you plan to produce it?
What machinery will most simply turn raw material into finished product?
What will move the conveyor belt?
How will quality be evaluated?
Production Process
What is the plan for effectively distributing this talent through the
organization?
What quality of raw material are we starting
the process with?
Specifications
Spe
cific
atio
n
to p
rodu
ce
lead
ers
atm
y co
mpa
ny
2010
Tale
nt
5’11”
EX
TaY
ello
w
Spe
cific
atio
n
to p
rodu
ce
lead
ers
atm
y co
mpa
ny
2010
Tale
nt
5’11”
EX
Yel
low
Tale
nt
5’11”
EX
Tal
ent
Raw Materials Distribution
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #3: Lack of process and outcome transparency
Process Transparency
Outcome Transparency
How open is your organization about the tools and processes used in talent reviews, high po
selection, performance management, etc.?
Are those employees who are discussed in talent processes communicated to about the
discussion and any decisions made?
100% transparency isn’t always the right answer, butmore is always better than less
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #2: Lack of accountability
Can you answer the critical question: Why Should I?
• Accountability must mean consequences
• Creative accountability works – cultural pressure, name & shame
• Select the few most powerful levers to hold them accountable for
To what extent are your leaders accountable for growing talent?What could you this month to improve that?
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #1: Making talent processes too complex
• Talent building processes work only if implemented
• Successful implementation is rare
• HR has added complexity without adding value
• Must radically simplify (starting with the science)
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
17
• Does each element (process step, box on form, etc.) add more value than complexity?
• Do all elements together add more value than complexity?
• Are facts/science guiding our choices or are personal preferences?
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
The Top 10 Talent Management Mistakes (and how to avoid them):
1. Making talent processes too complex
2. Lack of accountability for building talent
3. Lack of transparency about processes and outcomes
4. Not creating a talent production line
5. Focusing on year-end instead of goal setting
6. Not training your generalists
7. Not having a talent philosophy
8. Letting employees set and evaluate their own goals
9. Starting with an HR goal, not a business goal
10.Not starting with the science
www.employee-performance.com
The Top 10 Talent Management Mistakes (and how to avoid them)
Mistake #
Marc EffronPresident – The Talent Strategy [email protected]
CRG emPerforminfo@employee-performance.comwww.employee-performance.com
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