1. DEBUNKING 10 COMMON TALENT MANAGEMENT MYTHS
Doris Sims, SPHR
Founder and President
Succession Builders, LLC
Author of the 2009 book:
The 30-Minute Guide to Talent and Succession Management
Co-author of the 2007 book: Building Tomorrow’s Talent: A Practitioner’s Guide to Talent Management and Succession Planning
Author of the 2001 book:
Creative New Employee Orientation Programs
@ Copyright 2008

2. Exploring 10 Talent Management Myths
In this session, we’ll explore the most commonly heard questions and issues regarding talent management
We’ll discuss core best practice ideas
We’ll look at new ways to explain the business need for talent management
01/03/03

3. Talent Management Defined3
For the context of this session, Talent Management focuses on the onboarding, identification, assessment, development, and movement of INTERNAL talent
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

4. Comparing Financial and People Processes
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

5. MYTH #1: THERE IS ONLY ONE BEST PRACTICE TALENT MANAGEMENT METHODOLOGY

6. Talent Strategy Factors
The business goals of your talent management program
The geographical spread of your organization
The size of your organization
The general transparency of other processes in your culture
The people, system and budget structure in place to lead and support the talent management strategy
The type of organization (i.e. government, profit or non- profit, public or private, etc.)
Leaders should include all direct reports on the Talent Assessment Grid. Exceptions to this might be determined at the business unit level by the Senior VP, but any exceptions must be communicated and held consistent within the business unit, to ensure a fair process.
The Talent Assessment Grid should be prepared:
AFTER the leader has completed a Career Interest and Development Plan discussion with each employee
BEFORE nomination High Potentials and completing a Succession Plan
Refer to an example of the Talent Assessment Grid in the Appendix of
your Guide.
Behaviors - as aligned with our Company Values
Past Performance – Most recent Performance Review rating
Learning Agility – Learns very quickly, generates multiple ideas, is flexible when changes occur, thrives on job challenges – is creative, imaginative, and is open to/builds on the ideas of others
Advancement Potential – Demonstrates/communicates a strong drive/desire to advance, and if necessary, will relocate and/or move to another business unit for the right opportunity.

7. Core Best Practices: Three Key Phases1.
Consistent Talent Assessment Criteria and Employee Meetings
Leaders should include all direct reports on the Talent Assessment Grid. Exceptions to this might be determined at the business unit level by the Senior VP, but any exceptions must be communicated and held consistent within the business unit, to ensure a fair process.
The Talent Assessment Grid should be prepared:
AFTER the leader has completed a Career Interest and Development Plan discussion with each employee
BEFORE nomination High Potentials and completing a Succession Plan
Refer to an example of the Talent Assessment Grid in the Appendix of
your Guide.
Behaviors - as aligned with our Company Values
Past Performance – Most recent Performance Review rating
Learning Agility – Learns very quickly, generates multiple ideas, is flexible when changes occur, thrives on job challenges – is creative, imaginative, and is open to/builds on the ideas of others
Advancement Potential – Demonstrates/communicates a strong drive/desire to advance, and if necessary, will relocate and/or move to another business unit for the right opportunity. 2.
Documented Leadership Discussions and Calibration 3.
Development Plans and Action Follow-Through

8. Talent Assessment Tools8
A best practice talent assessment process includes:
A measurement of an individual’s PAST PERFORMANCE
A projection of an individual’s FUTURE POTENTIAL
Obtaining career and development needs and interests from THE EMPLOYEE

9. MYTH #2 ALL TALENT MANAGEMENT INFORMATION AND PROCESSES MUST BE HELD IN CONFIDENCE

10. Typically Restricted Talent Data10
The “List” of High Potential Employees
Successors usually don’t know which positions they are identified for, although there are exceptions (i.e. retirement)
Talent Review Meeting Notes
Employee Vacancy Risk Data
Compensation or Retention Packages of High Potentials
Other Thoughts?

11. Ideas for Open Talent Communications11
Overall information / benefits of the Talent Management program to all employees, including High Potential criteria
Discussions with employees about their career interests and abilities, as well as their relocation ability
Notify high potentials to increase retention, development, career movement and ability to measure results
Discuss strengths and development plan information from Talent Review meeting discussions with employees
Other Thoughts?

12. Communication Ideas A Talent Management Web Site12
A Talent Management Web Site
Succession Management Presentations and / or Webinars for Business Leaders
Management Talking Points
Talent Management Guides and/or Quick Reference Guides for Business Leaders
Provide webinars, workshops and reference guides for your HR people

13. MYTH #3 HIGH POTENTIAL EMPLOYEES ARE DEFINED AS THOSE WITH THE ABILITY TO ADVANCE TWO LEVELS

14. A New Definition… High Potentials have the ability to advance up…14
High Potentials have the ability to advance up…
AND/OR
…across at least two positions over the next few years
Making lateral career moves builds a greater breadth of knowledge, skills and experience
The ability to make lateral career moves into other departments differentiates high performers and high potentials

15. A New Definition… 15

16. l High Potential Definitions Other Criteria? Learning Agility
Desire to advance / move laterally
Leadership Abilities (rate based on your leadership values and competencies, strategic abilities, business acumen)
Superior interpersonal – people skills
At least 1 year tenure to observe sustained performance and other high potential criteria
Engagement and self-initiative l
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

17. MYTH #4 A TALENT MANAGEMENT STRATEGY IS ONLY NEEDED IN LARGE ORGANIZATIONS

18. l Every organization can benefit from talent management…
In a smaller organization, cross-functional training and procedure documentation is more important
Every organization can benefit from employee career discussions, vacancy risk reviews, development plans, etc. l
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

19. MYTH #5 IF WE DEVELOP OUR HIGH POTENTIAL EMPLOYEES, THEY WILL JUST LEAVE FOR ANOTHER COMPANY

20. l Reduce Talent Turnover Risk
Notifying and developing high potentials increases retention
Start a high potential program with a Kickoff Meeting to set appropriate expectations!
As appropriate, provide stock / compensation retention packages for high potentials and key experts
Yes, this is a risk…so our other choice is…to not develop our top talent for future positions????? l
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

21. MYTH #6 IDENTIFYING HIGH POTENTIALS AND SUCCESSORS IS A VERY SUBJECTIVE PROCESS—HOW CAN YOU MEASURE POTENTIAL IF IT HASN’T OCCURRED YET?

22. Talent Assessment: A Business Process22
Every type of business decision-making process is both an art and a science:
Financial Planning: The Budgeting Process
Acquisitions and Mergers: Due Diligence
New Product Development: Market Analysis
Advertising: Focus Group Feedback
Hiring Employees: The Interview Process
Developing New Technology: System Requirements
Remember: No business process is 100% accurate, but the process helps us to make the best possible decisions to enhance profit and reduce risk
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

23. MYTH #7 SUCCESSION PLANNING IS UNNECESSARY IN A DOWNTURN ECONOMY

24. Is This a Priority in Today’s Economy?
Our leaders are saying they won’t be retiring now due the decreased value of their 401(k) / stock
Our training and development budgets have been cut so we don’t have money for development
We are laying off talent
Mergers are taking place as companies collapse
What else????
Leaders should include all direct reports on the Talent Assessment Grid. Exceptions to this might be determined at the business unit level by the Senior VP, but any exceptions must be communicated and held consistent within the business unit, to ensure a fair process.
The Talent Assessment Grid should be prepared:
AFTER the leader has completed a Career Interest and Development Plan discussion with each employee
BEFORE nomination High Potentials and completing a Succession Plan
Refer to an example of the Talent Assessment Grid in the Appendix of
your Guide.
Behaviors - as aligned with our Company Values
Past Performance – Most recent Performance Review rating
Learning Agility – Learns very quickly, generates multiple ideas, is flexible when changes occur, thrives on job challenges – is creative, imaginative, and is open to/builds on the ideas of others
Advancement Potential – Demonstrates/communicates a strong drive/desire to advance, and if necessary, will relocate and/or move to another business unit for the right opportunity.

25. MYTH #8 IT IS DIFFICULT TO MEASURE TALENT MANAGEMENT RESULTS

26. Measure and Report Your Results
Customize to your Business Goals and Culture
Generally, the easiest metric to show an ROI is an increase in internal fill and decrease in external recruiting costs
Decide in your planning stage
Gather baseline data
Internal versus external fill of leadership positions
Turnover rates of leadership positions
External leadership recruiting costs
Eligibility to retire information
Leaders should include all direct reports on the Talent Assessment Grid. Exceptions to this might be determined at the business unit level by the Senior VP, but any exceptions must be communicated and held consistent within the business unit, to ensure a fair process.
The Talent Assessment Grid should be prepared:
AFTER the leader has completed a Career Interest and Development Plan discussion with each employee
BEFORE nomination High Potentials and completing a Succession Plan
Refer to an example of the Talent Assessment Grid in the Appendix of
your Guide.
Behaviors - as aligned with our Company Values
Past Performance – Most recent Performance Review rating
Learning Agility – Learns very quickly, generates multiple ideas, is flexible when changes occur, thrives on job challenges – is creative, imaginative, and is open to/builds on the ideas of others
Advancement Potential – Demonstrates/communicates a strong drive/desire to advance, and if necessary, will relocate and/or move to another business unit for the right opportunity.

27. Presentations and Reports That Provide Value
01/03/03

28. MYTH #9 NOTIFYING HIGH POTENTIALS WILL GIVE THEM A “BIG HEAD” AND CAUSE MORALE PROBLEMS

29. l The “Big Head” and Morale Issue
Arrogance seems to be a trait that prevents individuals from being identified as a HIPO
Make sure your HIPO criteria is very clear and definitely differentiates high performers and HIPOs
Ensure all employees know that the HIPO program is not a “stamp on the forehead for life”
Communicate, communicate, communicate l
There are several business objectives for the Succession Management and Talent Assessment initiatives…
01/03/03

30. MYTH #10 DEVELOPING OUR HIGH POTENTIALS WILL BE TOO COSTLY

31. High Potential / Leadership Development Ideas
Kickoff Meetings
360 Feedback
Executive Assessment Centers
Job Assignments
Project Teams
Non-Profit Board
Community Work
Leadership Book Clubs
Coaching Groups
Mentor Programs
Mentor or Mentee
Executive Involvement
Business Simulations and Workshops
Senior Leader Interviews
Be Creative!
Leaders should include all direct reports on the Talent Assessment Grid. Exceptions to this might be determined at the business unit level by the Senior VP, but any exceptions must be communicated and held consistent within the business unit, to ensure a fair process.
The Talent Assessment Grid should be prepared:
AFTER the leader has completed a Career Interest and Development Plan discussion with each employee
BEFORE nomination High Potentials and completing a Succession Plan
Refer to an example of the Talent Assessment Grid in the Appendix of
your Guide.
Behaviors - as aligned with our Company Values
Past Performance – Most recent Performance Review rating
Learning Agility – Learns very quickly, generates multiple ideas, is flexible when changes occur, thrives on job challenges – is creative, imaginative, and is open to/builds on the ideas of others
Advancement Potential – Demonstrates/communicates a strong drive/desire to advance, and if necessary, will relocate and/or move to another business unit for the right opportunity.

32. doris@successionbuilders.com ? YOU WHAT HAVE? DO