Building a Talent Management Strategy

1. Building a Talent Management Strategy Simple Truths, Strategies and Tools Presented by Andrew Zak, Managing Partner TalentMinders, LLC.

2. Andrew ZakFounder/Managing PartnerTalentMinders, LLC. Medical and consumer electronics experience –KPMG, Apple, FedEx, Cordis J&J, Boston Scientific Head of regional/global Centers of Excellence. Track record for driving change and growth. Dedicated to helping others leverage talent management as key enabler of growth. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

3. 2012 Talent Management Webinar Calendar Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

4. Agenda • Tips for ensuring a sustainable impact • Change management model • Framework for diagnosis and strategy creation • Key success factors and common pitfalls • Metrics to assess business outcomes • Communication and marketing • Questions and answers Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

5. Tips for Ensuring a Sustainable Impact • Prepare for success: • Agree with key stakeholders about scope/goals. • Evaluate current business state. • Understand go-forward strategies. • Engage relevant stakeholders. • Communicate with leadership teams. • Adopt change management model. • Build business-focused brand strategy. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

6. Change Management Model-J. Kotter • Create Sense of Urgency. • Form a Powerful Coalition. • Create a Vision for Change. • Communicate the Vision • Remove Obstacles. • Create Short-term Wins. • Build on the Change. • Anchor the Changes in Corporate Culture. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

7. Framework for Diagnosis and Strategy Creation • Create a structure to collect data from stakeholders: • Strategic questions vetted and approved. • Target comprehensive sampling (IC to C-suite). • Focus on strategy, organization and talent: • Business • Strategy • Customer • Competition • Leadership • Job/Role • Performance • Development • Motivation • Summarize findings and share with key stakeholders. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

8. Framework for Diagnosis and Strategy Creation • Sample data points: • Business “How would you describe the primary pressures on the business (e.g. Medicare, customer satisfaction/dissatisfaction, competitor threats, etc.)?” Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

9. Framework for Diagnosis and Strategy Creation • Sample data points: • Strategy “What words would you use to describe the regional / corporate business strategy that is being implemented to achieve the company’s goals?” • Customer “Explain how the customer base may be changing (needs, decision-makers, expectations, etc.) from the traditional base. How is this affecting the role of the Account Executive and the demands on your time, resources, skills, experience, etc.” Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

10. Framework for Diagnosis and Strategy Creation • Sample data points: • Competition “Explain the company’s strategic advantages. How are you winning the business (team structure, resources, technology)?” • Leadership “What are the leadership characteristics that will be required to achieve strategic success in the medium-term (e.g. inspiring, democratic, etc.)?” Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

11. Framework for Diagnosis and Strategy Creation • Sample data points: • Role “What kind of skills and abilities will distinguish outstanding performers from their average-performing counterparts in the years to come? That is, what skills and abilities will help the Account Executives be successful?” • Performance Management “To what extent do you receive concrete performance feedback on a regular basis? Describe the level (time commitment, etc.) of coaching and associated activities.? Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

12. Framework for Diagnosis and Strategy Creation • Sample data points: • Development “How would you characterize your desired career path? How are you planning to further your career with the company?” • Motivation “To what extent do you feel your total motivational energies are being drawn on to support the company’s strategic success? In other words, are you motivated?” Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

13. Framework for Diagnosis and Strategy Creation • Strategy characteristics: • Simple format. • Identify Executive Sponsor. • Align with business and functional strategies. • Drives integration across business rules/practices. • Reflects priorities to achieve business growth targets (and not individual needs). • Provides 3-5 year window. • Vetted and approved. • Flexible and scalable. • Use as marketing tool. • Balanced Scorecard. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

14. Framework for Diagnosisand Strategy Creation (cont’d) Content will be unique to your business. Use as reference only. Strategy Components: Title Page Table of Contents/Agenda Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

15. Framework for Diagnosisand Strategy Creation (cont’d) Strategy Components: Business Outlook (where do we hope to take the business moving forward?) Organizational Challenges (what challenges do we face in achieving our anticipated growth targets?) Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

16. Framework for Diagnosisand Strategy Creation (cont’d) Strategy Components: Development Strategy – Vision (more than a training program and very much about helping drive business performance) Talent Management Priorities (so, then, where to start and what’s most important relative to Talent Management) Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

17. Framework for Diagnosisand Strategy Creation (cont’d) Strategy Components: Deliverables (our Action Plan to grow leaders - short/medium/long-term) #1 Competencies #2 Development Solutions Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

18. Framework for Diagnosisand Strategy Creation (cont’d) Strategy Components: Deliverables (our Action Plan to grow leaders - short/medium/long-term) #3 Individual/Career Development #4 Performance Management Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

19. Framework for Diagnosisand Strategy Creation (cont’d) Strategy Components: Deliverables (our Action Plan to grow leaders - short/medium/long-term) #5 Strategic Resource/ Talent Planning Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

20. Balanced Scorecard A measurement tool that translates strategic objectives into a coherent set of performance measures. The scorecard is balanced because it measures both leading and lagging indicators. These indicators are expressed in financial or non-financial terms. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

21. Example Talent Management (TM) Balanced Scorecard STAKEHOLDER .Provide quality and timely services towards our clients (internal/external). .Focus on the development and transfer of TM know-how to and between divisions/countries. .Assure that the TM ‘team’ is seen as pro-active advisors on their respective talent responsibilities and levels. .Become a challenging business partner for the respective clients. .Continue to be representatives and initiators for employees’ needs and rights. .Ensure that TM personnel are perceived as trustful, personal coaches/mediators. .Drive the build up of an image/reality as Company ABC being a preferred employer internally and externally. FINANCIAL .Increase the return on TM investments. .Improve ratio excellent service/cost effectiveness, cost efficiency (micro level). .Increase overall cost-effectiveness of TM activity (macro level) according to goals established in conjunction with executive management. INTERNAL BUSINESS PROCESS .Optimize the effectiveness, efficiency and transparency of all TM processes. .Develop and implement measurement tools/instruments and targets for measuring TM performance on effectiveness, efficiency and transparency. .Ensure a complete ‘service package’ with customized feedback for management teams; regular updating of company-wide ‘talent’ and ‘organizational’ data-reporting data, trends and actions. .Develop and implement measurement tools/instruments and targets for measuring stakeholder satisfaction. .Ensure an optimal use of synergies and networks between the divisions/countries (ex.intro.forums/platforms/cross-divisional task forces, etc). MISSION & STRATEGIC PRIORITIES To be the most effective and challenging business partner for building successful business growth in select global markets by supporting management in optimizing their overall talent resources. Strategic priorities: .Develop TM ‘Center of Excellence’. .Develop TM function to become a solid ‘business partner’. .Assure the balancing of the short-term business focus with long-term growth. LEARNING & GROWTH .Develop TM professionals towards more business-minded and challenging partners; expanding skills and experience base beyond functional area. .Learn to use TM performance indicators to re-align TM priorities quicker in function of business needs. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

22. Key Success Factors & Common Pitfalls • Perhaps heard but rarely executed: • C-Suite commitment. • Vision, Mission, Strategy, Scorecards, Competencies, Rewards • Talent Management Leader(s) with track record. • Knowledge, Skills, Experience, Attributes • Proper scope and goals (linked with business priorities). • Assessment, Development, Succession, Metrics • Scalable funding model. • Technology checks. • Accountability. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

23. Metrics to Assess Business Outcomes • Quality vs. Quantity. • Efficiency vs. Effectiveness. • Negotiate with key stakeholders. • Benchmark for quality assurance. • Practice transparency (e.g. corp. scorecard) • Use data to drive continuous improvement. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

24. Metrics to assess business outcomes (cont’d) • Sample EFFICIENCY metrics: • Cost per Hire (average cost of hiring 1 FTE). • Talent Management Cost / FTE. • Internal Placements vs. External Hires. • Profitability Per Employee • Sample EFFECTIVENESS metrics: • Development Costs as % of Revenue. • % HIPO promotion from previous year. • HIPO Turnover (voluntary/regrettable). • % C-Suite members having min. 1 successor. ready now or within 12 mos. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

25. Communication and Marketing • Develop branding strategy/approved by stakeholders. • Present strategy to leadership teams. • Execute staged announcements (CEO, BU Heads, Functional Heads, etc). • Produce updates/reinforce brand awareness using relevant publications, events, programs. • Promote all developments/successes. • Promote transparency implementation. Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com

26. Good Luck…but don’t say goodbye… Let me know when you get stuck and need to move forward quickly. talentminders.com andrewjzak@talentminders.com Complimentary tools can be accessed by following link http://bit.ly/HPoiEu Visit TalentMinders, LLC. at talentminders.com and/or send mail to info@talentminders.com