Talent management

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Talent ManagementAndy Noon and Lori Buchanan

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Agenda

•Starting Point

•Talent Management Strategy

•Talent Management Objectives

•Identifying High Potentials

•Development Cycle

•Formal Activities

•What We have Learned

•Next Steps

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Mutual of Omaha

•Fortune 500 Company

•97+ year history

•4500+ employees, majority in Omaha

•Sell Individual and Group insurance through agents, brokers, and direct

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Starting Point (2003)

•Difficulty identifying and retaining external leaders

•Majority of senior leaders over age 50

•Minimal leadership development above supervisor level

•Limited succession planning discussions

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Evolution of Talent Management

•2004 - Full-day Sr. Management off-site•Discussed leadership talent

•2005 - Identified high-potential leaders• Introduced Talent Management Program

•Annual talent discussion

•2006 - Began program’s development activities•Annual talent discussion

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Identifying High-Potentials

•Nomination process• Career achievement

• Development focussed

• Strong leadership ability

•Consensus discussions at business unit level

•EVP, mgr, and participant completed career discussion

•Executives discussed at off-site (2005)

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Talent Management Strategy

•Strengthen leadership talent

•Deepen leadership bench strength

•Build a diverse leadership team

•Retain and engage leadership talent

•Align leadership strengths

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Talent Management Objectives

• Increase self-awareness

•Establish customized development plans

•Provide exposure to Senior Management

•Enhance leadership skills and abilities

•Provide opportunities to solve critical business problems

•Heighten learning through peer interaction

•Enhance understanding of the business

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Development Cycle

Business StrategyVision

Corporate ObjectivesStrategic Principles

Development Planning

Leadership Standards

Assess andDiagnose

Measure andMonitor Success

Discuss Strengths/Development Areas

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Self-Awareness

Fatal Flaw is a Lack of Self-awareness

(Shipper & Dillard, 2000)

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Self-awareness

Individuals with greater self-awareness:• less arrogant

• less likely to overdo strengths

•more likely to neutralize derailment

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Hogan Personality Inventories

Potential Derailers

Effectiveness Characteristics

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Multi-rater Feedback

•Short 44-item survey linked to competencies

•Structured feedback from multiple sources•Manager

•Peers

•Direct reports

•Customers

•Detailed report• includes comments

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Discussion of Strengths/Development Needs

•Participants completed “Achieving Your Leadership Potential”

•Managers participated in “Developing Others”

•Participant receives coaching from internal Talent Management Coach

•Manager and participant have open discussion about assessment results

•Assessment results for development only

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Development Planning

•Assessment results used to create development plan

•Participant and management finalize development plan together

•Development plan presented to SBU/Operation Senior Management Team

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Three E’s of Development

•Experience (70%)• On the job tasks and special projects

• Job changes

• Special assignments

• Broadening leadership opportunities

•Exposure (20%)• Feedback from others

• Opportunities for visibility in the organization

• Coaching and mentoring

•Education (10%)• Internal or external seminars or education

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Measure and Monitor Success

•Development plans must have specific success measures

•Gather and provide feedback frequently

•Review progress with participant quarterly

•TM coach review progress with manager and participant 2x per year

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Mutual of OmahaDevelopment Plan

EMPLOYEE INFORMATIONName: Jane Doe Employee Number: 11111Job Title: Project Manager Manager Name: Joe ManagerCOMPETENCIES TO BE DEVELOPED:Competency:Development Actions: Target Completion:

Support Needed: Measurement:

Unplanned Development

Quarterly Progress Report: Report your progress for each quarter1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

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Formal Development

•Business Information Seminars•Exposure to Sr. Management

•Business Acumen

•Peer networking

•Executive mentoring

•Strategic Leadership Experience

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Next Steps

•Continue…•Business Information Seminars

•Executive mentoring

•Multi-rater feedback

•Potential activities…•Experiential learning

•University-based education

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Challenges

•Defining high-potential

•Not going to get commitment from everyone

•Management owning development

•Development Planning!!

•Allowing time for development

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What we have learned

•HR is the driver but not the owner of Talent Management

•Develop a solid definition of high-potential

•Align development to group and business needs

•Utilizing assessments is critical

•Providing objective internal TM coaches adds value

• Importance of peer networking

• Importance of leaders teaching leaders

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Program Evaluation

•% of TM development plans created

•% of quarterly development plan meetings completed

•TM participant satisfaction

•TM manager satisfaction

•Change in leadership behavior

•Retention of TM participants

•Number of participant promotions

•Number of developmental assignments

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Questions?