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& HR Practices for Contemporary Banking A presentation by Sidney Kazhanje (Stanbic Bank) Introduction Definition Changing face of Talent Management People Management Framework Talent management framework ◦ ◦ ◦ ◦ ◦ Attraction Recruitment Development Retention Succession Planning While the pace of banking has accelerated, the core business has remained the same There is growing emphasis on talent management as human capital investment rises to the fore of organizational success Human capital is considered competitive advantage Talent is found in people, not systems and processes. Talent Management Series of INTEGRATED ACTIVITIES activities which facilitates that business is ACTING to ensure that we have the BEST TALENT deployed in the RIGHT PLACE, at the RIGHT TIME, to meet our BUSINESS needs NOW and in the FUTURE Talent ◦ A unique ability discovered through conversation/observation of person in challenging areas of responsibility Talent management ◦ Knowing what talent is, channelling it to add value in business “At its heart, talent management is simply a matter of anticipating the need for human capital and then setting out a plan to meet it.” Emphasis on talent exodus and how to meet organisational requirements for critical skills Realising the resurgence of talent management as the means through which the human resources cycle is successfully implemented Business Strategy Talent Strategy : Organisation and Capability ATTRACT IDENTIFY DEVELOP DEPLOY ENGAGE Have a clear employer brand Have a clear definition of talent Understand individual / collective needs Be clear which resources are of group interest Understand factors that engage talent Segment talent pools Align offering to needs of talent segments Plan succession fluidly Measure these factors rigorously Deploy talent proactively Embed into performance management Understand the skills required for the future Plan resourcing strategically Build processes to spot talent early including hidden gems Identify development jobs Actively focus on retention Acting to ensure we have the best talent with the right skills deployed in the right place at the right time to deliver business results now and in the future 2. Skills and Capabilities – what do you need to realise business success? 3. Future Shape – what is the ideal shape in terms of employment models, key roles, structures, numbers, etc 1. Business Strategy – what is it? TALENT DEMAND 5. Close the Gap – what actions are required to close the gap between supply and demand? 2. Identification – definition and framework 1. Understand philosophy 4. Diversity – how well do we reflect the diversity of our customers and markets? 8 3. Tracking – talent forums TALENT SUPPLY 6. Retention – proactive career management 4. Development PDP 5. Engagement – talent conversation People Management Framework Strategic Objective Competitive Employer Brand “GREAT PLACE TO WORK” – People Management strategy Critical Success Factors Building Competence To develop leadership as a core competency, i.e. to give us a competitive edge Ensure all staff have appropriate skills to be able to deliver their individual objectives Engaged People To create an environment where employees work with passion & feel a profound connection to their company. They drive innovation & move the organisation forward. Sustainable Pipeline (Building Capacity) To create a sustainable pipeline by attracting, growing/developing, empowering and retaining talent Integrated Talent & Succession Management Strategy: Talent Identification/Attraction Talent Development Talent Retention Processes, Tools & Systems Succession Planning Processes, tools and systems exist to enable human capital to perform their jobs. The organisation engages its staff through talent identification/attraction, development, retention and succession planning. An organisation can then tell they are successful when leadership development becomes a core competency, an environment is created where innovation is fostered and capacity is built to perpetuate the attraction, growing, empowering and retention of talent. This satisfies the organisation‟s drive in establishing a „great place to work as a strategic objective. I have posed a series of questions that are critical for management consideration under each building block of attraction/identification, development retention and succession planning. Attraction ◦ It involves carrying out a Culture Audit – „the employee value proposition should be created and perpetually refined‟. ◦ In other words, why would a smart, energetic, ambitious individual want to come and work with you rather than with the team next door? The following questions are important to ask as the prospective employee is asking himself the same questions about your organisation: Is your company viewed as the best place to work? How are you perceived as a rewarder? How are you perceived as a promoter? How are you perceived as a trainer/developer? How are you perceived as a retainer? It is also essential to understand how you are managing these perceptions. ◦ What management practices are in place to address gaps in the people process? ◦ Define the culture you want to instil and get buy in at all levels of team members. ◦ Other questions that pertain to culture are change management, discipline and communication ability. Recruitment ◦ This aspect brings you back to considering the basics – Job description/Person specifications. ◦ These are fundamentally: purpose of the job, tools, principal accountabilities, key responsibilities, reporting lines, qualifications, skills, abilities and personal attributes. ◦ These are the foundation for finding the right person for the job. What are the requirements? Are there elements that obviously require training? Can we make logical compromises? Have we catered for urgency? How do we intend to benefit from this investment? Check for culture fit through grooming, etiquette and interpersonal skills. Define requisite qualities – what is „selfdriven and will we know it when we see it? Appreciate extra-curricular activities: ◦ Introvert/extrovert hobbies – separates frontoffice/sales/marketing inclined from support/backoffice, administration types 9 Block Grid Descriptions PERFORMANCE PERFORMANCE high • Exceeds or Far Exceeds Performance Expectations • Often a valued specialist, capable of assuming a new role at the same level of complexity • Highly competent in current role • Role model in their current function • May not adapt to new situations effectively • 10% • Meets Performance Expectations; solid contributors • Capable of assuming positions at the same level of complexity • Competent in current role • Steady performer within functional area or current level of responsibility • May not adapt to new situations effectively • 20% 4 • Exceeds or Far Exceeds Performance Expectations • Capable of growing into a more complex role within the same level • This person could advance to the next layer • Highly competent in current role • Role model in their current position • Can adapt to new situations if necessary. • 10% 2 • Meets Performance Expectations • Capable of growing into a more complex role within the same level; ready to stretch and test • This person could advance to the next layer • Competent in current role • Core of the business, consistent performance results. • Can adapt to new situations if necessary. • 30% 1 • Below Performance Expectations • Inconsistent or disappointing performance in relation to potential exhibited • Lacks competence in current role • This person may still be new to position but doesn’t seem to be adapting as well as anticipated • Improved performance is necessary before advancement expected • May or may not know the job well but may adapt to new situations if necessary. 3 • 5% • Below Performance Expectations • Lacks competence in current role • If no improvement displayed after development, exiting the organization may be appropriate • May or may not learn well or adapt to new situations. • 5% low low Underperformers POTENTIAL Solid contributors 7 5 • Exceeds or Far Exceeds Performance • Potential to grow into a role with much broader responsibility and complexity. • This person could advance into a role one layer above their current position within a 0-2 year time frame and possibly a second move within a 3-5 year time frame. • Highly competent in current role • Role model in their current position • Consistently able to take on new and different 9 challenges • 5% • Meets Performance Expectations • Potential to grow into a role with much broader responsibilities • This person could advance into a role at least one layer above their current position • Competent in current role • Core of the business, consistent performance results • Consistently able to take on new and different challenges 8 • 10% • Too early to assess performance and/or competence • Likely an individual who is adapting to a new role (not just new to company) • Perceived to be able to take on greater responsibilities/roles once performance is demonstrated • Anticipate successful results once this person matures in their new role • Show capacity to take on new, more complex and 6 different challenges. • 5% High Potential high Valued specialists Development ◦ Talent development hinges on identifying performance gaps and implementing interventions to bridge them. ◦ Development is all about improving a person‟s performance with the aspect of organisational effectiveness in mind. Do you have an improvement culture? At what point do you manage out? Do you foster or encourage the challenging of processes? How frequently do you conduct performance reviews? Do you have career progression options in place? How often do you institute formal training? Retention ◦ In view of the heightened talent exodus to either local, regional or international competition, management focus should now aim to retain people holding key positions. How often is there culture regeneration? What type of leadership style have you adopted? Are you living the values that your organisation subscribes to? Do you own your staff for both good and bad behaviour? Being on their side helps build trusting relationships People leave managers, not organisations therefore be the manager you would like to see in your own line manager. Lead the way you would like to be led. Succession planning ◦ The final aspect involves making preparations to meet future human capital requirements. Succession planning is only as successful as the talent management process. When you assess the readiness of individuals to take up higher posts and establish the developmental interventions that will enhance their potential. NAME Sam M Peter P Lee P Mary X Sue L No. People from outside No. ROLE Head Fin Head Botsw Mngr to Head HR HR Head GM Nam REASON rare skill no internal performance resignation seconded People exited Top 50 ... Talent Pool Implications for current and future talent management? ... Talent Pool To this end, if talent management is given the seriousness it deserves organisations would not be found wanting in meeting future human capital requirements. I, therefore, pose it as a challenge to every delegate present, to attract, grow, empower and retain talent for the future benefit of our organisations.