AHRI Talent Presentation

17
“The Talent Conundrum” Presenter: Clayton Timms Director Symerge & People Software Trends / Research Methodology Solutions

Transcript of AHRI Talent Presentation

Page 1: AHRI Talent Presentation

“The Talent Conundrum”Presenter: Clayton Timms

Director

Symerge & People Software

•Trends / Research•Methodology

•Solutions

Page 2: AHRI Talent Presentation

Apr 17, 2023

Agenda

1. What is Talent?

2. International Commentary / Research Boston Consulting Group EOWA & Hays Henley Management College U.S. Department of Labour Symerge Consultants

3. The Model

4. The Process

5. Software / Systems Solutions

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What is Talent?

“Talent is what you are looking for. That is not the

same as saying that it is in the “eye of the beholder”,

like beauty. It is not an abstract, general concept.

It is a statement of the proven qualities (Attributes),

know-how (Knowledge / Skills) and achievements

(Performance) that are in your specification (Job

Profile).

The specification is your botanist’s box. Talent is specific, and it is

to do with a high level of competence.”

Borrowed & Adapted from Penryhn International

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Boston Consulting Group Research – 04/2008

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Generation F Research Equal Opportunity for Women in the Workplace Agency (EOWA) & Hays

Generation F already constitute more than half of Australia’s population and nearly 45% of the nation’s total labour force, a more substantial proportion than the Generation Y population.

EOWA & Hays research indicates that Generation F are not only discerning; they are highly mobile and will seek an alternative workplace if their employer

fails to identify and address their communicated needs and issues.

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Generation F & Y Workplace Needs

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The Henley Management College survey found that:

Managers will stay if they want to stay – commitment to an organisation is chiefly driven by emotional attachment.

Experienced managers rate their self-esteem in very positive terms and attach great importance to achieving self-fulfilment, a sense of accomplishment, fun and enjoyment at work.

The traditional psychological contract – long-term employment for employee loyalty – has been replaced by a more complex mix.

The right mix of values, attitudes, terms and benefits is key. Where this exists managers will commit to and apply their talents in the interests of the organisation.

These findings are ratified by actions currently being undertaken by global

companies to ensure they are attracting and retaining the best talent.

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Our Observations (22 Years in 40 Organizations)

Talent is usually defined differently in various parts of the organization i.e. there is often no common definition / language

There is a Absence / Lack of Criteria & Measurement of what defines Job Value versus Person Value

Job and Pay Streams too restrictive Attributes are Key i.e. the Cognitive, Personality & Aptitude

requirements for Success Not an Integrated Business Approach i.e. it is too often Driven &

“owned” solely by HR Over – emphasis of resources on Recruitment as opposed to a

balance with Engaging & Retention Not always measured in terms of business factors Treated as an Intervention not a Process Issue

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A Holistic Model

ATTRACTATTRACT

ENGAGEENGAGERETAINRETAIN

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Where are your Efforts (Money, Resources) Focused?

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Attraction Factors (some of the factors which should be part of your assessment)

Organisations that wish to Attract their talent should:

Be creating an employment brand Be using Job profiles (competency sets) to underpin recruitment,

selection, development, retention, performance management, and career management

Make use of multiple selection points i.e. Cognitive Assessments, Personality Assessments, Aptitude Assessments, Reference Checking etc when selecting Talent

Have a keen sense of who they are looking for i.e. our search is based on predefined talent (Competence) Profiles.

Measure recruiting success with the same rigor that they apply to growth targets or market share.

Use the work environment (‘Best Company’ lists, for example) as a potential differentiator.

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Recruitment & Selection Effectiveness

Hiring Method Used Hire Accuracy

Interviews Only 14%

Reference Checks + Interviews 26%

Personality Assessments + Reference Checks + Interviews 38%

Ability + Personality Assessments + Reference

Checks + Interviews

54%

Interests + Abilities + Personality Assessments +

Reference Checks + Interviews

66%

Job Matching (Benchmarking) + All of the Above 75%

#Our own research & database over the last 12 years shows that where selected Cognitive AssessmentsCognitive Assessments (e.g. (e.g. CPA/CPP) CPA/CPP) are part of the Selection process your success rate exceeds

90% +90% +

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Engaging Factors (some of the factors which should be part of your assessment)

Organisations that wish to Engage their talent should:

Know who their current star talent is Have a Holistic "strategic" plan for talent Have enough Non conformists and Rebels with a Cause Provide their talent with opportunities to take personal control of their

careers and their growth Be paying their Top Talent what they are truly worth Maximize the value of high potentials - Talented individuals who have

the potential to make an ever-increasing contribution to organizational success are identified early and provided with accelerated development.

Manage Performance - Are your talented high performers provided with challenge, regarding goal achievement? Are they told how well they are doing so that they can self correct?

Have comprehensive descriptions (Job Profiles) of competencies (knowledge, skills and attributes) for critical roles or clusters of roles

Be innovative for talent about compensation, benefits, non-financial rewards, responsibilities and recognition.

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Retention Factors (some of the factors which should be part of your assessment)

Organisations that wish to Retain their talent should:

Offer a Great company –Two aspects of culture are critical: a strong emphasis on performance and an environment that is open and trusting.

Offer Wealth and Reward – people want to make money that is commensurate with the value they create and with their other options. Invest Publicly i.e. ‘We recognize your potential, we will develop you

Provide Individuals with structures and tools for diagnosing their own development needs and identifying/creating/managing career plans

Invest in talent according to potential and performance of individuals. Based on your corporate values; would you (and your friends) want to work

for this organization Have a winning Employee Value Proposition (EVP) i.e. the EVP answers the

question, “Why would a talented person want to continue working here?" Offer Exciting work

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A Process Solution to the Talent Conundrum

Step 1 -You (group of key stakeholders) should be Assessing your organization against a holistic range of questions / statements in the following 3 areas:– Attracting Talent– Engage Talent– Retaining TalentNB This list should be a Best Practice one

Step 2 – After the Assessment there should be a number of Gaps to be addresses in each of the 3 Areas above.

Step 3 – Collate the above into a Strategic Planning Template and then set Priorities, Interventions needed, Accountability, Timing

The result of this is a Holistic Talent Management Strategy which will ensure that you do not fall into the “interventions trap” i.e. spending all your time and money recruiting people only for them to leave shortly thereafter due to their “needs/expectations” not being addressed

Step 4 – Implement Software, Process, Interventions per your Talent Management Plan Priorities

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Referenced Sources

U.S. Department of Labor, “Uniform Guidelines on Employee Selection Procedures”, (E.E.O.C., 1978). Part 60-3.

John E. Hunter, Ronda F Hunter, “Validity and Utility of Alternative Predictors of Job Performance”, (Psychological Bulletin, Vol. 96, No.1, 1984) p.90.

Boston Consulting Website http://www.bcg.com/about_bcg/news.jsp?yearpub=2008

The Learning Factor Website http://www.learningfactor.com.au/GENERATIONF.pdf

Henley Business School Website http://www.henley.reading.ac.uk/ Symerge www.symerge.com.au

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Contact Details

Clayton Timms

[email protected]

M 0422557463

www.symerge.com.au