Talent Mapping: The Crux of Corporate America
Of the total workforce population, there are roughly 76 million Baby Boomers, only 50 million Gen X’ers, and a whopping 86 million (& counting) Gen Y/Millennials. Not only is there a cultural Generation Gap, there is a Talent Gap – the disparity of prepared, workforce replacements – that requires “Talent Mapping” in order to keep the economic backbone of this country strong. Talent mapping is the process of critically examining what talent exists within the organization and how to strategically plan to prepare for future needs and/or growth initiatives.
Some of the best practices can be extrapolated from a microcosm. For example, Switzerland has a population of <8 million; yet, is has been hailed by the Economist magazine for several consecutive years as having the highest quality of living. With very little natural resources from which to draw, how do they have such a strong and stable economy? Their number one reason is: they invest in their people.
In fact, most of the businesses in Switzerland are privately owned. If we were to draw from our own talent perceptions on working for private companies, we would find that there are many perceived advantages. These advantages can be used as recruiting and retention levers to attract and maintain top talent. Among the top three most compelling reasons to join a private company are the following: inclusion, having a voice, and a higher degree of interrelatedness (both internally and externally).
The Three Horsemen of HR
Recruitment. Development. Retention. These three areas form the triumvirate and serve as the crux of your organization’s success. If you are deficient (or lacking) in one of these areas, then it is akin to sitting on a 3-legged stool with one leg missing – your future will indubitably falter. The first and most strategic recruit in an organization, according to Ana Dutra, CEO Korn/Ferry International, is “A really strong head of HR with a focus on Talent Management and Leadership Development.” S/He plays an important role in establishing the company’s reputation, which is the most frequently cited element in attracting (& retaining) talent. And, with the proliferation of websites that facilitate the “real” Employee Engagement and Organizational Health surveys on the internet – meaning a survey that renders no repercussions from supervisors who exhibit frustration over low roll-up scores – current, ex-colleagues, and potential candidates can anonymously share their impressions of what the organization’s culture, interviewing process, and treatment of its people are really like. These impressions are, unfortunately, generally in stark contrast to whatever the company website and other forms of propaganda profess for it to be. This is the corporate version of Zagat’s guide. How have others found the ambience to be like? What is the price you pay to be there? Is the service friendly? How many stars would you give it?
Less than half of the organizations within Corporate America have formalized processes for identifying and developing high-potentials (hi-po’s). One best practice to keep the three horsemen at bay is to implement a Career Model Framework. This framework is a system accessible by any company employee through the company’s intranet; it lays out a set of objective competencies one needs to achieve in order to be considered for promotion. Merrill Lynch has a first-in-class system which enables its financial advisors to track their individualized progress. Meanwhile, stories are regaled from other organizations, such as Amazon, that so-called Organization Leadership Reviews are intended to be objective, yet promotions seem to be heavily reliant upon subjective, anecdotal data (versus contextualized and hard data) and the senior leader’s ability/influence to persuade, either negatively or positively.
Top Developmental Tools
Retain your organizational knowledge, the investment made in the Learning Curve, your company’s morale / team-spirit, and maximize the Return on Investment (ROI) to strengthen your leadership pipeline and competitive advantages by utilizing all of the following tools.
- Leadership Development Workshops
- Targeted Training
- Career-Pathing / Coaching
- Tuition Reimbursement
- Stretch Assignments / International
- Objective Metrics (e.g. Career Model Framework)
- Practice Diversity & Inclusion
- Telecommuting Options
- Treat Your Vendors Like Internals (this goes back to Inclusion)
Business is relationships. The way you manage those relationships is the way you’ve managed your future.
Rossina Gil, MSOD, MAIS, is a Leadership and Organization Development Practitioner, author, cultural analyst, coach, speaker, and facilitator. She wants Anne Taylor’s Kate Hudson Holiday Collection for Christmas. CorporateLookingGlass.com.
Forbes Insights, The Talent Imperative, April 2013, pg 20.
Posted on October 20, 2013, in Uncategorized and tagged Business, Career Model Framework, Corporate Zagat's Guide, Generation Gap, Korn/Ferry, Leadership, Leadership Development, Management, Merrill Lynch, Organizational Leadership Review, Rossina Gil, Switzerland, Talent Gap, Talent Management, Talent Mapping. Bookmark the permalink. 3 Comments.