-human capital is just as important as access to capital and technology as a source of competitive...
TRANSCRIPT
-HUMAN CAPITAL IS JUST AS IMPORTANT AS ACCESS TO
CAPITAL AND TECHNOLOGY AS A SOURCE OF COMPETITIVE
STRENGTH
-EVERY BUSINESS STRIVES TO ATTRACT, MOTIVATE AND RETAIN
THE TALENTS
• What is the business strategy : To “build” or to “buy” needed talent?
VBL: to “Build” needed talent.
•What are the talent requirements (e.g: competencies) to achieve the strategy?
•How will the necessary talent to be developed and deployed?
What is Talent Management?
Talent management can mean:
•The same thing as a leadership development or succession planning and management program
•An effort to integrate recruiting, selecting, orienting, developing, rewarding, and appraising workers – particularly for the most talented workers (the upper 10%)
•A retention program – usually focused on holding down critical turnover
What is “Talent”?
High Low
High
Low
Talent
Stars Problem Child
DeadwoodCow
FuturePotential
Present Performance
Talent Development Goals
• Improve retention of all employees
• Improve the retention of the most talented employees
• Build a brand identity for our organization to attract more talented people
• Make VBL’s approaches to developing people more systematic
• Ensure more systematic planning for talent needs in the futures
Roadmap
Make the commitment
Clarify the Work/People now
Evaluate the Program
Assess PotentialClarify the Work/
People needed in the future
Appraise Performance
Appraise Performance
Definitions of Performance Management
The term performance management actually has several possible definitions. It can mean:
• The same thing as “performance appraisal”
• Continuing, real-time feedback systems
• Planning, tracking and assessing performance
Performance Management System
Strategic Business Goal
Business Plans
Performance Model
Performance Planning
Appraisal of Accomplishments
Ongoing coaching & feedback
Identifying areas for improvement
Why Do Organization’s Sponsor Performance Management Programs and What Results Are
Sought from Them ?
Performance management systems can help to:
• Clarify performance targets
• Create incentives for performance
• Establish individual development plans
• Measure desired results
• Reward individuals or teams for results achieved
Why Is Performance Management Important for Talent Management and Development?
Performance Management is essential to talent management and development because:
• Investments in talent management should only be made with those who are succeeding in their current jobs.
• Performance management provides an objective means by which to assess and reward current performance/productivity.
What Is Potential Assessment, and How Does It Relate to Performance Management?
• Potential assessment is the process of comparing an individual’s current competencies to the requirements of other levels of responsibility.
• While performance management assesses the individual against present work requirements, potential assessment seeks an objective assessment of an individual’s capabilities relative to levels of responsibility in which he or she presently does not function
What is a Competency?
• A competency is any characteristics leading to successful productivity• There are two common ways to understand competencies today: the British definition and the American definition• For the British, a competency is limited to Knowledge, Skills and Attitudes• For the Americans, anything that leads to successful is a competency• Consider: “Competencies are in people, not in job”
Why Are Competencies Important?
• Competencies provide a blueprint for the kind of people to be built by the talent development program
• Without competencies, different managers will have different expectations about the kind of people they are building.
Eighteen most often found competencies
I. Achievement Cluster Tech./Prof.
Mgr. Exec.
1. Achievement Orientation x x x
2. Initiative x x x
II. Helping/Services Cluster Tech./Prof.
Mgr. Exec.
3. Interpersonal Understanding x x x
4. Customer-Service Orientation x x
Eighteen most often found competencies
III. Influence Cluster Tech./Prof.
Mgr. Exec.
5. Impact and Influence x x
6. Organizational Awareness x
7. Relationship Building (Networking) x x
IV. Managerial Cluster Tech./Prof.
Mgr. Exec.
8. Directiveness x
9.Teamwork and Cooperation x x x
10. Developing Others x
11. Team Leadership x
Eighteen most often found competencies
V. Cognitive Thinking/Problem Solving Cluster Tech./Prof.
Mgr. Exec.
12. Information Seeking x
13. Analytical Thinking x x
14. Conceptual Thinking x x x
VI. Personal Effectiveness Cluster Tech./Prof.
Mgr. Exec.
15. Integrity x x x
16. Self-Confidence x
17. Organizational Commitment; “Business-mindedness” x x x
18. Flexibility x
What is a Value?
• Values represent the deeply held beliefs within the organization and are demonstrated through the day-to-day behaviors of all employees. An organization’s values make an open proclamation about how it expects everyone to behave. Values should provide a constant source of strength for an organization. Giaù trò laø nhöõng nieàm tin saâu saéc trong toå chöùc vaø ñöôïc theå hieän qua öùng xöû haèng ngaøy cuûa nhaân vieân. Giaù trò cuûa moät toå chöùc laø moät coâng boá roäng raõi veà vieäc mong ñôïi caùch öùng öùng xöû cuûa nhaân vieân. Giaù trò laø nguoàn söùc maïnh vöõng beàn cho toå chöùc
• Values equate to ethics and morality; competencies equate to productivityGiaù trò töông ñöông vôùi luaân thöôøng ñaïo lyù; naêng löïc töông ñöông vôùi hieäu quaû.
Why Are Values Important?
• Values serve as constraints on behaviors that lead to results
• Without values, anything goes whether legal, illegal, moral or immoral, ethical or unethical
• Competencies without values can be dangerous
Consider Values on This Grid
Highly productive and highly ethical
Highly unproductive but highly ethical
Highly productive by highly unethical
Highly unproductive and highly unethical
High
Low
Present Values
High Low
Present Performance
What Is Individual Development, and How Can It Be Planned Based on Competencies?
• Individual development is the process of narrowing development gaps between an individual’s current competencies and what competencies he or she must possess to be qualified for additional responsibility.
• Individual development may also be regarded as not only on overcoming weakness but also on building on strengths.
What Is an Individual Development Plan?
An individual development plan (IDP):
• Describes what competencies an individual must build on
• How the individual will do it
• When the individual will do it
• How results will be measured
How Are Plans Formulated, Implemented & Evaluated?
IDPs are usually:
• Formulated annually between individuals and their immediate supervisors• Informed by the organization’s present and future talent requirements• Focused on building competencies• Action-oriented –and often work-focused• Measurable
What is “Talent”?
High Low
High
Low
Talent
Stars Problem Child
DeadwoodCow
FuturePotential
Present Performance
Succession Planning
POSITION POSITION - HOLDER
MOST SUITABLE SUCCESSOR
NAME AVAILABLE CONDITIONS (*) IDP (**)
RSM Cuong Lam-RSM
10/2006 -Married,2 kids-Accommodation-Education of kids
-Achievement orientation (C&M)
-Team leadership (CL)
- English (EL)
Lam Long-ASM
1/2007 -Married,1 kid-Accommodation-Education of kid
- English (EL)
- Analytical Thinking (OJT)
(*): Please indicate specific conditions (if any)(**) IDP : Individual Development Plan
CL : classroom learning (course/conference)OJT : on-the-job trainingC&M : coaching & mentoringEL : e-learning