Top 10 Mistakes in Talent Management

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The Top 10 Talent Management Mistakes (and how to avoid them)

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The Top 10 Mistakes in Talent Management

(and how to avoid them)

Align. Develop. Reward. Retain.www.employee-performance.com



Mistake #


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Marc Effron President, The Talent Strategy GroupAuthor, One Page Talent Management: Eliminating Complexity, Adding Value(Harvard Business Press, 2010)Founder, New Talent Management Network

HOST: Marc Effron




Mistake #10: Not starting with the science

Science provides insights for everything we do

• How to set goals

• How to coach

• How to identify high potential leaders

• How much compensation matters

So is your first step always “starting the with science”?



About benchmarking . . .

It will get you to the 50th percentile, but never the 75th. Why?

• Science-based? Were their ideas based on proven facts or just leaders’ preferences at that company?

• Strategic Fit?: Were those programs developed to meet that company’s specific strategic goals?

• Implementation?: Benchmarking rarely uncovers the more subtle factors that allowed implementation (i.e. CEO support, large budget)

• Culture fit?: How would implementing this idea in your company affect your corporate culture?

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Starting with the science ensures that you’re building on a stable foundation



Mistake #9: Starting with an HR goal, not a business goal

What is the business goal/problem that you’re trying to solve?

• What is the business trying to achieve and what’s the simplest way to achieve it?

• Take off your HR hat

• No HR process has an independent right to exist



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8: Letting employees set and evaluate their own goals

Did he just say that??

• Let’s go back to the science

• Performance is same whether employee or manager sets goals

• We are wildly inaccurate in our self-assessments

• Managers are best able to guide goals and evaluate results



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8

Are there clear rules in your company about . . .

• How long is it OK to be an average (50th percentile) performer? How long in a key role?

• How accountable are managers to actually develop employees and what happens if they don’t?

• How transparent should managers be with their direct reports about their potential to advance in the company?

We all have personal opinions on these questions.Few companies have a clear set of rules.

7: Not Having a Talent Philosophy



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• Performance

• Behaviors

• Differentiation

• Transparency

• Accountability

A talent philosophy defines five areas:



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Where Does it Fit?

Talent Philosophy

The rules of the road for building your company’s talent

Your Company’sSuccess Model

The capabilities that will distinguish your best talent

The foundation for all talent

activities

Talent Reviews and Succession Planning

Ensure that high quality talent exists and that it can

sustain the business

Performance Management

Align employees with the needs of the business

The core processes for ensuring high performing talent



Mistake #6: Not building our capabilities

Business Junkie

The Differentiating TwoBusiness JunkieThe Core Four

Trusted Executive Advisor

• Professionally Credible

• Forms Strong Executive Relationships

Courageous Advocate

• Has a Theory of the Case

• Is Appropriately Aggressive

Business Junkie

HR Disciple

Production Manager

Talent Authority



Mistake # 5: Focusing on the year-end instead of goal setting

Set Goals Observe & Coach Review Performance

Set a few high quality goals that create higher

performance

Keep everyone at a strong performance

level

Fairly and accurately assess performance



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4: Not Creating a Talent Production Line

Talent should be built just like any other product– A production process should exist with clear specifications, a reliable production

line and strict quality control – When the process is run, it should actually produce talent

What are the specifications for the talent you plan to

produce and how you plan to produce it?

What machinery will most simply turn raw material into finished product?

What will move the conveyor belt?

How will quality be evaluated?

Production Process

What is the plan for effectively distributing this talent through the

organization?

What quality of raw material are we starting

the process with?

Specifications

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Tale

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EX

TaY

ello

w

Spe

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Tale

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Yel

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Tale

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Tal

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Raw Materials Distribution



Mistake #3: Lack of process and outcome transparency

Process Transparency

Outcome Transparency

How open is your organization about the tools and processes used in talent reviews, high po

selection, performance management, etc.?

Are those employees who are discussed in talent processes communicated to about the

discussion and any decisions made?

100% transparency isn’t always the right answer, butmore is always better than less



Mistake #2: Lack of accountability

Can you answer the critical question: Why Should I?

• Accountability must mean consequences

• Creative accountability works – cultural pressure, name & shame

• Select the few most powerful levers to hold them accountable for

To what extent are your leaders accountable for growing talent?What could you this month to improve that?



Mistake #1: Making talent processes too complex

• Talent building processes work only if implemented

• Successful implementation is rare

• HR has added complexity without adding value

• Must radically simplify (starting with the science)



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• Does each element (process step, box on form, etc.) add more value than complexity?

• Do all elements together add more value than complexity?

• Are facts/science guiding our choices or are personal preferences?



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The Top 10 Talent Management Mistakes (and how to avoid them):

1. Making talent processes too complex

2. Lack of accountability for building talent

3. Lack of transparency about processes and outcomes

4. Not creating a talent production line

5. Focusing on year-end instead of goal setting

6. Not training your generalists

7. Not having a talent philosophy

8. Letting employees set and evaluate their own goals

9. Starting with an HR goal, not a business goal

10.Not starting with the science



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Marc EffronPresident – The Talent Strategy [email protected]

CRG emPerforminfo@employee-performance.comwww.employee-performance.com

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