VCI has put a lot of effort and resources in evolving our talent management approach in the last years. Currently we focus on the four "bubbles" that support talent management.
THE INFORMATION BELOW EXPLAINS THE PROCESS OF TALENT MANAGEMENT IN FURTHER DETAIL
Illustration, image conveying the message that people “move” in and out of positions, in and out of the organization. There are promotions, developmental transfers, demotions, external new hires, etc. I don’t want images of real people. Within the US, from / to the US to Germany (where the client’s headquarters are located), and other parts of the world. The “movement” (promotions, developmental transfers, demotions, external hires, etc.) of people is supported by talent management
Talent management is:
i. During this process, a manager assesses the performance and potential of his/her
employees. The ratings can be low, medium or high (for example, high performance, high potential, or high performance, medium potential, etc.)
ii. Once the rating is provided, employee’s names are placed in a nine box grid (look at the power point with the nine box grid)
iii. Each manager presents his/her nine box grid in meetings that are called multiple eye
reviews. In terms of images, I see a lot of images of people in different groups, and those groups become smaller, and smaller again after each multiple eye review. What happens is that each manager in a department presents his/her nine box grid and they start a cross departmental review. There may be people that get moved from a box in the grid to another box after discussion in the meeting and comparison
with the peer level.
iv. These multiple eye review meetings continue until the leadership team meets and agrees on the placement of all the employees.
v. The leadership team that is present in this final multiple eye review meeting is a representation across the multiple brands of the company
i. Reference to talent bench strength. “Bench strength” refers to the capabilities and readiness of potential successors to move into key professional and leadership positions. The term comes from
baseball, where it refers to a team's lineup of highly skilled players who can step in when a player is hurt or replaced.
In the business setting, bench strength is critically important. Whenever a critical person leaves a position
(either leaving the organization or being promoted to another position) the organization should have a "ready successor" or plan for replacement.
ii. In terms of visual, I see organizational charts, and people in the bench getting into the boxes of an organization chart. I am open to your recommendations too.
iii. In the process of getting from the bench to the box in the organizational chart, or to get to the bench, there should be reference to learning and development.
Succession planning is a systematic approach to:• Building a leadership pipeline/talent pool to ensure leadership continuity• Developing potential successors in ways that best fit their strengths• Identifying the best candidates for positions. Understanding whether you need to bring external hires or develop internally• Concentrating resources on the talent development processyielding a greater return on investment.Succession planning recognizes that some jobs are the lifeblood of the organization and too critical to be left vacant or filled by any but the best qualified persons. Effectively done, succession planning is critical to mission success and creates an effective process for recognizing, developing, and retaining top leadership talent.
i. I don’t need or want much content around performance management. Just enough to have something.
ii. Performance management is a yearly process by which objectives are set, there are dialogues and reviews thorugh the year, and there is a yearly performance appraisal.
iii. The rating of this performance, serves as input for the “talent inventory step” when the manager rates performance.
Reward and Recognition
i. The same applies here as performance management. I don’t need much content around reward and recognition.
ii. The company has a pay for performance philosophy
iii. Pays yearly bonuses
iv. Offers competitive salaries and benefits
These factors contribute to the success of the VCI succession planning. These elements could be included in the infographic, but please not as bullet points as they are below. A visual representation of them would be much appreciated.
• Senior leaders are personally involved and hold themselves accountable for growing leaders.
There is a strong partnership between senior leaders and the Human Resources department
• Employees are committed to their own self-development.
• Success is based on a business case for long-term needs.
• Succession is linked to strategic planning and investment in the future.
• Workforce data and analysis inform the process.
• Leadership competencies are identified and used for selection and development.
• A pool of talent is identified and developed early for long-term needs.
• A menu of development opportunities
• Succession planning addresses challenges such as diversity, recruitment, and retention.