In the last post, we saw how to coach people. In this post, we will look at how to create a robust talent pipeline.
What does a talent pipeline mean?
- Talent pipeline refers to all the systems and processes required to attract talent, select them, onboard them, ensure good performance management, coaching talent, career planning for them, succession planning etc.
- A good HR management system helps: it enables us to identify the talent in the company, their skills and abilities, the gaps in executing the strategy etc.
How does a robust talent pipeline help?
- Enables deployment of the right talent at the right place at the right time, in accordance with strategy.
What comprises great talent management?
- Being agile (move at speed)
- Being flexible
- Having good data about talent
How do we identify talent?
- A3E2 (Ability, Agility, Aspiration, Emotional intelligence, Engagement) Model
- Ability: Deliver high performance (exceeding expectations)
- Agility: Bringing to bear experience/knowledge/skills to accomplish a new undertaking
- Aspiration: The drive to accomplish something great
- Emotional intelligence: Understanding one's own and other people's emotions, and leveraging this to help move the team forward (A measure of emotional aperture here).
- Engagement: Understanding the vision and mission, and committed to making them successful.
- Know your talent: can you tell a story about them with the A3E2 model
- Paint a picture in another person's mind
How do we nurture talent?
- Identify where the person falls on the A3E2 model, and identify areas for improvement
- Expose them to more people in the company (talent shines with exposure)
- 70-20-10 (on the job - coaching - curriculum)
- 70%
- New Team, associations, task forces, non-profit boards, projects, culture, process, products
- Closing down some of the above (change management skills)
- 20%
- Coach/mentor/sponsor
- Coaching: in functional areas
- Mentoring: based on a relationship
- Sponsor: Recognize potential, provide exposure, opportunities
- Listen and observe
- Get into people's minds, understand their needs, and address them
- 10%
- Leader as a teacher
- Brings you emotionally close
- Learn better as a result of teaching
- Engaged employees make a significant difference (see here)
- Quality of leadership is key to turnover (differs by industry)
- Costly to replace talent
- Infuse new blood into the team all the time
- Evaluate risk of employee leaving vs impact caused
- Why do employees leave?
- Relationships: with manager, peers
- Culture fit
- Life/work event triggers
- Job market situation (competitive market etc.)
- What impact does an employee leaving have?
- Business impact: for the present, and the future
- Knowledge gap created
- Competitor advantage: defecting to competitor, and attracting talent there
- Damaged relationships: with company, partners, team
- A checklist to keeping people engaged
- Talk to employees about career plan, their future
- Train them to do jobs now, and in future
- Communicate what's happening in team, company etc.
- Recognize achievements and provide exposure, acknowledge their role in success of team
- Reward good work
- Ensure leads have A3E2
- Create positive energy: teach each other, share their purpose, things they are proud of
- Do an audit!
- Periodic evaluation of what talent is available, what talent is required, and an action plan to bridge the gap (either by training, or by hiring externally)
- Succession planning
- Identify new roles needed at all levels, and which candidates can fill those roles
- Have the foresight to identify such roles, given the strategy
- Top talent should be moved to new roles at 36 months (start conversation at 24 months)
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