Talent Management

Friday, June 26th, 2009 - Career Change, Career Development, Employment, Executive Recruitment, Executive Search, Job Search, Recruitment

Talent Management

In the week of Wimbledon, and when most of the British entrants bar Scot’s Andy Murray and Elena Baltacha failed to make it past round1, the subject for this blog entry is talent management. Something which reading this article, it would seem is an art the LTA has still not perfected

You may be questioning, why on a website about Executive CV’s am I talking about talent management? Simply that getting an executive position is as much about why the company needs someone, as it is about you the applicant being suitable

If the company is seeking talent externally to fulfil executive positions, it says that either their talent management system or corporate strategy has failed to such an extent, they need a big change or key expertise that they presently don’t have.

One of the differences of Executive Recruitment and Executive Search over more volume orientated recruitment, is the power that the job applicants and chosen candidates have. Much as many who have risen and are experienced at this level will know, but many who have recently arrived at this level will not, is to ask as many questions about why the vacancy has arisen as to what the post holder is required to deliver, not just do. Understanding compnay motive, and the expectations the company has of the eventual post holder, gives you a better chance of fulfilling that position and negotiating the deliverables

Succession Planning

After the current downturn, the world will return to the same equation:

• The birth rate of the developed nations is reducing
• The population ageing
• Resultantly, the tax deficit is increasing

In the corporate world, it means that companies will be struggling to find and retain the best talent, which will command a premium – unless imigration policies are relaxed: doubtful. Even the statistics of top talent show that in the last 12months during a recession only bettered (???) by that of 1929, 1 in 3 individuals will changed jobs.

Which means that, if companies are able to retain their people, that talent management and succession management become even more critical.

Most good talent management results come down to a system. In his business show on BBC4 “The Bottomline,” Evan Davies interviewed Harriet Green (CEO Premier Farnell), Chris Hyman (CEO Servco) and Yens Hoffma (CEO PIzzaHut UK) on the subject of succession management. All three came down to explaining their companies systems:

Green (CEO Premier Farnell)
Green rightly identified succession management as the most important role of the CEO. Green was anointed successor at Arrow Service, but she decided she wasn’t going to be chosen as a CEO of a Fortune500 company over an American, so she made the call. This brought out the point that once communication is made of the new executive, often there will be fallout. Green identified the key issues as:

1. Do you have the individual/talent inside the company
2. How do find and integrate that talent
3. How does the CEO/Chairman find talent

Chris Hyman (CEO Servco)
Hyman, a very religious Christian who’s belief seemed to drive his whole thoughts on business and people, was himself driven through to the CEO role using SERCO’s system. Hyman was adamant that it needed to be a system, built in to the company, which was both based on 360degree feedback and scientific measurement/input. SERCO’s system is based on the system of assessing candidates into a pipeline, labelled as: ready now, ready in a year, ready in three years, ready in five. Hyman said that once people were spotted and taken into the system, the company was equally responsible for developing their talent to achieve their capabilities – a nicely supportive nature. SERCO are also very open, and much as though Hyman admitted that there were already three people in place and anointed as his successor, he – rightly for a plc copmpany – didn’t reveal the names.

Yens Hoffma (CEO PIzzaHut UK)
Hoffma agreed greatly with both other interviewee’s, and said that Yum! brands system was similar. The question used for assessing candidates for general management were also based on 360degree review, and scientific measurement. Yum!, like many fast food chains, works it managers from the bottom to the top, believing in the idea that knowing how the shop floor works makes them a better and more effective manager. However, the best point Hoffma brought out about Yum!’s system was that it had a very large human values element: leadership, authenticity, realness is absolutely key. Hoffma had discussions for four years ahead of his own promotion, and knew he was the only candidate when assessed for the job. Hoffma said that this hightened his awareness of his human values, and the company ethic meant that although performance orientated, it was mutually supportive, and hence back stabbing not appreciated = surest way not to get promoted!

Key questions for the job seeker

By understanding a companies strategy, you can understand where they are proposing to head. By understanding their HR policy, you can understand much more about their culture – recruitment is about functional fit (ie: skills and qualifications), as well as social fit (ie: are you like us).

Before taking any post, always ask the question: why did you come outside the organisation to recruit this post? It is a wholly valid question, and will reveal as much about the organisation as it will about what they expect the post holder to achieve

Good Luck!