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The millennial generation
have their sights on the top jobs
NOW IS THE TIME TO BACK
TALENT IN UK BUSINESSES
MARCH OF THE
M...
T
he oil industry knows
better than most the im-
portance of operational
efficiency as it struggles
to manage the impact o...
T
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better than most the im-
portance of operational
efficiency as it struggles
to manage the impact o...
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  1. 1. The millennial generation have their sights on the top jobs NOW IS THE TIME TO BACK TALENT IN UK BUSINESSES MARCH OF THE MILLENNIALS DATA CAN IMPROVE YOUR STAFFING IT TAKES ALL SORTS TO MAKE A TEAM Diversity at work is a strength when it is managed wellRecruiting and retaining talented staff is the key to business success Companies are turning to data analytics for HR insights 03 04 08 15 10 / 03 / 2016INDEPENDENT PUBLICATION BY #0365raconteur.net TALENT MANAGEMENT
  2. 2. T he oil industry knows better than most the im- portance of operational efficiency as it struggles to manage the impact of a ten-year low in crude oil prices. It is a sector with executive boards that know the importance of investing in new blood to help grow the talent pools required to plug skills gaps being created by increasing numbers of employees approaching retirement. But not all sectors face such des- perate measures. In fact, the drive for operational efficiency, or future survival as in the case of many oil companies, need not be at the price of talent. However, many executive directors fail to engage in the talent management debate, let alone agree with this conjecture. Christopher Johnson, European and Pacific region business leader for talent at Mercer, believes that part of the cause of many execu- tive directors’ disengagement in the talent debate is because of a failure by their management to explain the skills required to help grow the business. This, he suggests, is due to the dif- ficulty involved in presenting a clear story about the underlying employee issues at play around, for example, career development, gender and age diversity, and succession planning. “Where boards are failing is in rec- ognising in the broader workforce those huge talent issues they should be facing up to,” he says. “For exam- ple, the ageing workforce is a big is- sue, and some organisations aren’t thinking beyond this to the fact that they’re getting a more complex workforce with a broader age range and employees staying on in work.” But how does management pres- ent to a board member a simple dashboard of data? Human resource functions can prove instrumental in engaging ex- ecutive board members in the talent management debate, persuading them of the importance of prioritis- ing talent and, crucially, helping them to view it as a long-term invest- ment rather than a short-term cost. But this requires good-quality anal- ysis of workforce demographics by human resource staff equipped with the appropriate an- alytical skill sets. “It’s about them providing good-quality and clean data, pre- sented quickly in a way that allows boards to have con- fidence that things in the business are fine or to recognise that things need to change,” says Mr Johnson. Uninterested and unengaged ex- ecutives can equate to uninterested and unengaged employees. Employ- ers may suffer employee presentee- ism, whereby staff attend work but are unproductive while there. Worse still, errors may be made, which could result in dissatisfied customers and even workplace ac- cidents, with unfortunate injuries to employees, creating unnecessary costs for employers through lost business, sickness absence, medical bills and, potentially, litigation. Peter Reilly, principal associate at the Institute for Employment Stud- ies, says: “Errors will vary from in- dustry to industry, but truly disen- gaged and disaffected staff can do enormous damage to organisations.” This is particularly the case when talented employees leave their or- ganisation to join a competitor. Professor Maury Peiperl, director of Cranfield School of Management, believes the latter could prove a key catalyst for change in executives’ inter- est and engagement in the talent man- agement debate. “The biggest cat- alyst for change would be organisa- tions’ competition coming from small startups, from out- side their usual frame of compet- itors, and execu- tives starting to recognise there is no permanence in size,” he says. But Professor Peiperl also acknowledges the challenges present for executive boards across all industry sectors. “We’re increasingly looking at a workforce where people expect to be paid attention, rewarded and developed or they just aren’t inter- ested,” he says. “At the same time, organisations have to stay in business and spend what little money they have staying afloat, so there’s a perennial tug of war between short-term and long- term issues.” This is why many human resource teams face an uphill battle in get- ting talent management on to their board agenda, particularly when it appears they deem the issue more important than most. The Chartered Institute of Per- sonnel and Development’s latest HR Outlook Report, which polls or- ganisations about their current and future business priorities, reveals that human resource staff are more concerned with talent management than non-human resource leaders, who are more preoccupied with in- creasing customer focus. The report also reveals that 76 per cent of human resource lead- ers agree that their current people strategy will help their organisation achieve its future priorities, com- pared with just 26 per cent of other business leaders. So, perhaps the credibility of the human resource function is the first major barrier businesses must over- come to enable talent management to become a future boardroom agen- da item of importance. This is likely to happen with the ever-changing nature of the hu- man resource function, which is slowly evolving to become more commercial and strategic in its outlook. But executives also need to wake up to the fact that growth in market share will remain out of reach as long as they fail to implement and invest in a robust talent manage- ment programme, which engages and develops staff, enabling them to move the organisation forward. DISTRIBUTED IN CLARE BETTELLEY Associate editor of Employee Benefits magazine, she has held editorships at Financial Times Business and Centaur Media. PETER CRUSH Freelance business journalist, specialising in human resources and management issues, he was deputy editor of HR magazine. HAZEL DAVIS Freelance business writer, she contributes to The Times, Financial Times, The Daily Telegraph and The Guardian. CATH EVERETT Freelance journalist specialising in workplace and employment issues, she also writes on the impact of technology on society and culture. KAREN HIGGINBOTTOM Freelance journalist, she has written on a range of issues, including talent management, for national newspapers and Thomson Reuters. NICK MARTINDALE Award-winning writer and editor, he contributes to national business and trade press on a wide range of business issues. RACONTEUR PUBLISHING MANAGER Senem Boyaci DIGITAL CONTENT MANAGER Sarah Allidina HEAD OF PRODUCTION Natalia Rosek DESIGN Samuele Motta Grant Chapman Kellie Jerrard PRODUCTION EDITOR Benjamin Chiou MANAGING EDITOR Peter Archer BUSINESS CULTURE FINANCE HEALTHCARE LIFESTYLE SUSTAINABILITY TECHNOLOGY INFOGRAPHICS raconteur.net/talent-management-2016 CONTRIBUTORS Although this publication is funded through advertising and sponsorship,alleditorialiswithoutbiasandsponsoredfeatures are clearly labelled. For an upcoming schedule, partnership in- quiries orfeedback, please call +44 (0)20 8616 7400 ore-mail info@raconteur.net Raconteur is a leading publisher of special-interest content and research. Its publications and articles cover a wide range of topics, including business, finance, sustainability, health- care, lifestyle and technology. Raconteur special reports are published exclusively in The Times and The Sunday Times as well as online at raconteur.net The information contained in this publication has been ob- tained from sources the Proprietors believe to be correct. However, no legal liability can be accepted for any errors. No part of this publication may be reproduced without the prior consent of the Publisher. © Raconteur Media Now’s the time to back talent Recruiting and retaining talented staff is key to business success, but can be seen as a short-term distraction rather than long-term necessity OVERVIEW CLARE BETTELLEY Share this article online via Raconteur.net Getty The credibility of the human resource function is the first major barrier businesses must overcome to enable talent management to become a future boardroom agenda item of importance RACONTEUR raconteur.net 03TALENT MANAGEMENT10 / 03 / 2016 The art of telling the story; The science of marginal gains. That’s YOCTO. 16TH MARCH 2016 YOCTOTHINKING TMP, well-known for recruitment marketing and communications. Less well-known as a serious and seasoned RPO operator. Our RPO client base has grown organically from fantastic relationships. And by design through formal processes driven by an excellent reputation. Picture the tiniest measurement there is. It’s just one quadrillionth of a metre long. That’s how we’ve honed our solution, down to the last ‘yoctometre’. Leveraging a heritage in employer branding and attraction. And extensive experience in resourcing and talent management. The result is Yocto: a differentiated offer in the crowded RPO market. For more information contact: Jon Porter Managing Director jonathan.porter@yocto-rpo.com 020 7268 9110 www.yocto-rpo.com @yoctorpo Yocto RPO TALENT MANAGEMENT DISTRIBUTION PARTNER
  3. 3. T he oil industry knows better than most the im- portance of operational efficiency as it struggles to manage the impact of a ten-year low in crude oil prices. It is a sector with executive boards that know the importance of investing in new blood to help grow the talent pools required to plug skills gaps being created by increasing numbers of employees approaching retirement. But not all sectors face such des- perate measures. In fact, the drive for operational efficiency, or future survival as in the case of many oil companies, need not be at the price of talent. However, many executive directors fail to engage in the talent management debate, let alone agree with this conjecture. Christopher Johnson, European and Pacific region business leader for talent at Mercer, believes that part of the cause of many execu- tive directors’ disengagement in the talent debate is because of a failure by their management to explain the skills required to help grow the business. This, he suggests, is due to the dif- ficulty involved in presenting a clear story about the underlying employee issues at play around, for example, career development, gender and age diversity, and succession planning. “Where boards are failing is in rec- ognising in the broader workforce those huge talent issues they should be facing up to,” he says. “For exam- ple, the ageing workforce is a big is- sue, and some organisations aren’t thinking beyond this to the fact that they’re getting a more complex workforce with a broader age range and employees staying on in work.” But how does management pres- ent to a board member a simple dashboard of data? Human resource functions can prove instrumental in engaging ex- ecutive board members in the talent management debate, persuading them of the importance of prioritis- ing talent and, crucially, helping them to view it as a long-term invest- ment rather than a short-term cost. But this requires good-quality anal- ysis of workforce demographics by human resource staff equipped with the appropriate an- alytical skill sets. “It’s about them providing good-quality and clean data, pre- sented quickly in a way that allows boards to have con- fidence that things in the business are fine or to recognise that things need to change,” says Mr Johnson. Uninterested and unengaged ex- ecutives can equate to uninterested and unengaged employees. Employ- ers may suffer employee presentee- ism, whereby staff attend work but are unproductive while there. Worse still, errors may be made, which could result in dissatisfied customers and even workplace ac- cidents, with unfortunate injuries to employees, creating unnecessary costs for employers through lost business, sickness absence, medical bills and, potentially, litigation. Peter Reilly, principal associate at the Institute for Employment Stud- ies, says: “Errors will vary from in- dustry to industry, but truly disen- gaged and disaffected staff can do enormous damage to organisations.” This is particularly the case when talented employees leave their or- ganisation to join a competitor. Professor Maury Peiperl, director of Cranfield School of Management, believes the latter could prove a key catalyst for change in executives’ inter- est and engagement in the talent man- agement debate. “The biggest cat- alyst for change would be organisa- tions’ competition coming from small startups, from out- side their usual frame of compet- itors, and execu- tives starting to recognise there is no permanence in size,” he says. But Professor Peiperl also acknowledges the challenges present for executive boards across all industry sectors. “We’re increasingly looking at a workforce where people expect to be paid attention, rewarded and developed or they just aren’t inter- ested,” he says. “At the same time, organisations have to stay in business and spend what little money they have staying afloat, so there’s a perennial tug of war between short-term and long- term issues.” This is why many human resource teams face an uphill battle in get- ting talent management on to their board agenda, particularly when it appears they deem the issue more important than most. The Chartered Institute of Per- sonnel and Development’s latest HR Outlook Report, which polls or- ganisations about their current and future business priorities, reveals that human resource staff are more concerned with talent management than non-human resource leaders, who are more preoccupied with in- creasing customer focus. The report also reveals that 76 per cent of human resource lead- ers agree that their current people strategy will help their organisation achieve its future priorities, com- pared with just 26 per cent of other business leaders. So, perhaps the credibility of the human resource function is the first major barrier businesses must over- come to enable talent management to become a future boardroom agen- da item of importance. This is likely to happen with the ever-changing nature of the hu- man resource function, which is slowly evolving to become more commercial and strategic in its outlook. But executives also need to wake up to the fact that growth in market share will remain out of reach as long as they fail to implement and invest in a robust talent manage- ment programme, which engages and develops staff, enabling them to move the organisation forward. DISTRIBUTED IN CLARE BETTELLEY Associate editor of Employee Benefits magazine, she has held editorships at Financial Times Business and Centaur Media. PETER CRUSH Freelance business journalist, specialising in human resources and management issues, he was deputy editor of HR magazine. HAZEL DAVIS Freelance business writer, she contributes to The Times, Financial Times, The Daily Telegraph and The Guardian. CATH EVERETT Freelance journalist specialising in workplace and employment issues, she also writes on the impact of technology on society and culture. KAREN HIGGINBOTTOM Freelance journalist, she has written on a range of issues, including talent management, for national newspapers and Thomson Reuters. NICK MARTINDALE Award-winning writer and editor, he contributes to national business and trade press on a wide range of business issues. RACONTEUR PUBLISHING MANAGER Senem Boyaci DIGITAL CONTENT MANAGER Sarah Allidina HEAD OF PRODUCTION Natalia Rosek DESIGN Samuele Motta Grant Chapman Kellie Jerrard PRODUCTION EDITOR Benjamin Chiou MANAGING EDITOR Peter Archer BUSINESS CULTURE FINANCE HEALTHCARE LIFESTYLE SUSTAINABILITY TECHNOLOGY INFOGRAPHICS raconteur.net/talent-management-2016 CONTRIBUTORS Although this publication is funded through advertising and sponsorship,alleditorialiswithoutbiasandsponsoredfeatures are clearly labelled. For an upcoming schedule, partnership in- quiries orfeedback, please call +44 (0)20 8616 7400 ore-mail info@raconteur.net Raconteur is a leading publisher of special-interest content and research. Its publications and articles cover a wide range of topics, including business, finance, sustainability, health- care, lifestyle and technology. Raconteur special reports are published exclusively in The Times and The Sunday Times as well as online at raconteur.net The information contained in this publication has been ob- tained from sources the Proprietors believe to be correct. However, no legal liability can be accepted for any errors. No part of this publication may be reproduced without the prior consent of the Publisher. © Raconteur Media Now’s the time to back talent Recruiting and retaining talented staff is key to business success, but can be seen as a short-term distraction rather than long-term necessity OVERVIEW CLARE BETTELLEY Share this article online via Raconteur.net Getty The credibility of the human resource function is the first major barrier businesses must overcome to enable talent management to become a future boardroom agenda item of importance RACONTEUR raconteur.net 03TALENT MANAGEMENT10 / 03 / 2016 The art of telling the story; The science of marginal gains. That’s YOCTO. 16TH MARCH 2016 YOCTOTHINKING TMP, well-known for recruitment marketing and communications. Less well-known as a serious and seasoned RPO operator. Our RPO client base has grown organically from fantastic relationships. And by design through formal processes driven by an excellent reputation. Picture the tiniest measurement there is. It’s just one quadrillionth of a metre long. That’s how we’ve honed our solution, down to the last ‘yoctometre’. Leveraging a heritage in employer branding and attraction. And extensive experience in resourcing and talent management. The result is Yocto: a differentiated offer in the crowded RPO market. For more information contact: Jon Porter Managing Director jonathan.porter@yocto-rpo.com 020 7268 9110 www.yocto-rpo.com @yoctorpo Yocto RPO TALENT MANAGEMENT DISTRIBUTION PARTNER
  4. 4. CASE STUDY: PwC PwC, the largest professional services firm in the world and one of the big four auditors, employs some 20,000 people in the UK of whom 66 per cent are millennials. “We know that our millennials want to be invested in, and their development needs to be relevant and personalised for them,” says Louise Brownhill, PwC’s chief learning officer. “There is a big increase in gamification and mobile learning, and we know our millennial population want to learn on the go.” As a result, PwC has developed an online game, to be launched in April, for its employees to be able to experiment with their leadership style and approach within a simulated environment. “We’ve developed project management simulation to allow our learners to be project management leaders and the simulation provides feedback relevant to the learner,” says Ms Brownhill. PwC is investing in leadership capability at an early point in the millennial’s career as this reflects the complexity and pace of change that people will have to deal with at all levels of the organisation. Ms Brownhill adds: “The technical skills within professional services are critical, but we’re also focusing on softer skills such as leadership.” This year, the firm developed an 18-month leadership programme for its newly promoted staff to provide them with a strong foundation in leadership skills and help millennials pro-actively plan their careers. “Part of the emphasis is on our people building broader networks and also focusing on developing their own resilience, which is increasingly an issue because of the complex world we live in,” Ms Brownhill concludes. Share this article online via raconteur.net I f you look at the profile of sen- ior leadership in publicly listed companies, the picture is pre- dominantly of men in their 50s and 60s, a generation defined as baby boomers. The NormanBroadbent2014Board Review of 1,700 quoted companies found that chairman and non-ex- ecutive directors tend to be in their 60s. However, in ten to fifteen years’ time, many of the top positions will be occupied by millennials, those born between the early-80s to ear- ly-2000s. In fact, in some tech and startup businesses, millennials such as Facebook’s Mark Zuckerberg already occupy leadership positions. The dominance of the old-school chief executive is on the wane, predicts Jon- athan Hime, group managing partner at leadership ad- visory firm Marlin Hawk. “Board- rooms will look very different in five years’ time as the millennials rise through the ranks and challenge the management culture in many organisations,” he says. Why does the march of the millen- nials matter? Deloitte estimate mil- lennials will comprise 75 per cent of the global workforce by 2025, so it’s critical firms get to grips with the talent management of this genera- tional cohort. In the UK, millenni- als currently form 35 per cent of the UK workforce and this figure can only increase. Organisations ignore the develop- ment of millennials in their work- place at their peril, warns Dimple Agarwal, a partner at Deloitte. “In most global companies, 40 to 50 per cent of their workforce are mil- lennials. If you’re not taking care of a big chunk of your workforce now, then you’re already behind your competitors,” she says. “It’s a big cultural shift as people in the top positions in large, consumer businesses are not millennials, but if you look at the technology and startup sector, then millennials are already in leadership positions.” The 2016 Deloitte Millennial Sur- vey of 7,700 millennials in full-time employment and drawn from 29 countries found that nearly two- thirds of millennials say their lead- ership skills are not being fully de- veloped. This was despite the fact that millennials believed business placed the highest value on lead- March of the mil lennials seems unstoppable They are already in charge of successful tech and startup busi nesses, but the millennial generation have their sights on other top corporate jobs NEW LEADERS KAREN HIGGINBOTTOM Mark Zuckerberg, the 32-year-old chief executive of Facebook, is one of the most well- known millennial business leaders ership as a skill in a 2015 Deloitte survey. “There is a big gap in expec- tations with millennials believing that organisations are not investing enough in them,” says Ms Agarwal. A lot of organisations will spend large sums of money on leadership development, but it’s usually target- ed at the top two to three layers of the organisation. She says: “Organ- isations aren’t investing across the whole workforce, which is why they need to redirect their investment.” The 2016 Deloitte survey also re- veals that the millennial generation aren’t particularly loyal to their em- ployer as two in three millennials expect to leave their organisation by 2020. This presents a big talent man- agement challenge for organisations striving to retain a large segment of their workforce. M i l l e n n i a l s change jobs more frequently than previous gener- ations, says Sue Honoré, associate research consult- ant at Ashridge Ex- ecutive Education. “Therefore, they are constantly seeking interesting and challenging work, and have less patience for drudgery. They value coaching and mentoring highly, and expect those more experienced people around them to provide that freely,” says Dr Honoré. But what type of development do millennials crave in the workplace, particularly for leadership roles? Ms Agarwal says: “There may be parts of the organisation that are not convinced they have the expe- rience, but it’s about taking risks. It’s about creating opportunities to give them leadership roles early on and skills, such as how to manage senior stakeholders and how to de- velop your ability to envisage where the business is going.” This generation is nomadic, and open to working and living abroad, says Mr Hime. “They want expo- sure to new cultures and geogra- phies. This will be a leader who wants to be truly cross-cultural and embed themselves into a different environment, so their style is much more global,” he says. Another factor that distinguishes millennials from other generations is their preference for technology, says Ksenia Zheltoukhova, research adviser for the Chartered Institute of Personnel and Development. Leadership development needs to change not just due to the expectations of the millennial generation, but as a result of the volatile economic conditions in which businesses operate TALENT MANAGEMENT raconteur.net04 RACONTEUR RACONTEUR raconteur.net 05TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016 Getty “They want to access information quickly and want more real-time feedback, so organisations need to develop learning on the job rather than going on a course,” she says. The development of millennials needs to resonate with them and not just be linked to financial per- formance, Omid Aschari, profes- sor of strategic management at the Institute of Management, Univer- sity of St Gallen, in Switzerland, observes. “They don’t buy into the fairy tale that as long as the balance sheet is fine, direct and indirect stakeholders benefit as well,” he says. “Millennials are more sensi- tive to the way the organisations assume responsibility beyond its own wellbeing. They want to see the wider impact on society and the wider environment.” However, it’s important not to push away other generations by catering solely to the needs of your millennial workforce, warns Nico- la McQueen, managing director of Capita Resourcing. “One size does not fit all,” she says. “While they may require a different approach, it’s important not to alienate other generations in the business and in- stead use millennials as agents for change in the leadership develop- ment process. Talent identification programmes should be mapped across all generations in the busi- ness in order to be effective.” Leadership development needs to change not just due to the expecta- tions of the millennial generation, but as a result of the volatile eco- nomic conditions in which busi- nesses operate, says Dr Bernd Vogel, associate professor of leadership and organisational behaviour at Henley Business School. “It’s about more stretch assignments and on- the-job learning especially if you have a business environment that is ambiguous and volatile,” he says. The rapid pace of change in the business world will mean that mil- lennial leaders, in fact any business leader, will have to be adaptable and inclusive, argues Ms Agarwal. “One of the crucial leadership qual- ities needed by future leaders will be the ability to embrace different cultures and diversity of thinking, and the ability to change.” The millennial generation is all about “mindful” leadership with a focus on values, conduct and peo- ple, says Mr Hime. “They thrive on building and motivating teams. They want to develop themselves and their colleagues. They are con- structive agitators, with a remark- able ability to achieve goals in a shifting environment.” Ms Zheltoukhova believes that millennial leaders will be interest- ed in a wide range of outcomes from leadership, not purely financial. “Millennials are much more inclu- sive in their approach and they’re not just thinking about the bot- tom-line outcomes, but the social outcomes as well,” she says. This preference for ethical leader- ship is reflected in the 2016 Deloitte Millennial Survey which found that 87 per cent of millennials believe that the success of a business should be measured in terms of more than just its financial performance. Millennial leaders will be highly networked and far more entrepre- neurial, Dr Honoré predicts. “They will look for personal value in any role and probably switch loyalties quickly if they feel they are not gaining from their work,” she says. “They may be less skilled at face-to- face people skills and the commu- nication of tough messages, which may impact their effectiveness as leaders. However, the best of this generation will be very successful and exploit the skills they have de- veloped in their lives, and pick up those they may have missed out on compared to previous generations.” One of the challenges facing mil- lennial leaders is that there will be multiple generations in a work- place, Ms Agarwal points out. She says: “Leaders will have to be ad- aptable and inclusive as they will have to deal with four generations in the workplace. A lot of older workers are rejoining the work- force, and organisations need to think about multiple ways of de- livering learning and development as it’s not just about developing the millennial generation.” Mr Hime believes that the emer- gence of millennial leaders will challenge organisations’ talent management practices. “Organ- isations will need to adapt to the emergence of these millennial lead- ers otherwise they will struggle to pass on the baton,” he says. “Some boards already look and feel com- pletely renewed. Others have recog- nised the need for change and are taking action. The ego-obsessed, hierarchical boards of old are sim- ply not suited to the post-recession culture of businesses today.” HOW MUCH CONTROL MILLENNIALS FEEL THEY HAVE OVER THEIR CAREER PATH Source: Deloitte 2016 Don’t know 2% It is totally controlled by others or events outside my control 3% It is mainly influenced by others or events outside my control 18% I have a large degree of control, but not complete control 48% I have total control 29% HOW SUPPORTING LEADERSHIP AMBITIONS BUILDS LOYALTY AMONG MILLENNIALS Source: Deloitte 2016 There is a lot of support for those wishing to take on leadership roles My leadership skills are not being fully developed Younger employees are actively encouraged to aim for leadership roles I feel that I’m being overlooked for potential leadership positions 68% Those planning to stay for more than five years Those planning to leave within two years 52% 54% 71% 68% 52% 42% 57%
  5. 5. CASE STUDY: PwC PwC, the largest professional services firm in the world and one of the big four auditors, employs some 20,000 people in the UK of whom 66 per cent are millennials. “We know that our millennials want to be invested in, and their development needs to be relevant and personalised for them,” says Louise Brownhill, PwC’s chief learning officer. “There is a big increase in gamification and mobile learning, and we know our millennial population want to learn on the go.” As a result, PwC has developed an online game, to be launched in April, for its employees to be able to experiment with their leadership style and approach within a simulated environment. “We’ve developed project management simulation to allow our learners to be project management leaders and the simulation provides feedback relevant to the learner,” says Ms Brownhill. PwC is investing in leadership capability at an early point in the millennial’s career as this reflects the complexity and pace of change that people will have to deal with at all levels of the organisation. Ms Brownhill adds: “The technical skills within professional services are critical, but we’re also focusing on softer skills such as leadership.” This year, the firm developed an 18-month leadership programme for its newly promoted staff to provide them with a strong foundation in leadership skills and help millennials pro-actively plan their careers. “Part of the emphasis is on our people building broader networks and also focusing on developing their own resilience, which is increasingly an issue because of the complex world we live in,” Ms Brownhill concludes. Share this article online via raconteur.net I f you look at the profile of sen- ior leadership in publicly listed companies, the picture is pre- dominantly of men in their 50s and 60s, a generation defined as baby boomers. The NormanBroadbent2014Board Review of 1,700 quoted companies found that chairman and non-ex- ecutive directors tend to be in their 60s. However, in ten to fifteen years’ time, many of the top positions will be occupied by millennials, those born between the early-80s to ear- ly-2000s. In fact, in some tech and startup businesses, millennials such as Facebook’s Mark Zuckerberg already occupy leadership positions. The dominance of the old-school chief executive is on the wane, predicts Jon- athan Hime, group managing partner at leadership ad- visory firm Marlin Hawk. “Board- rooms will look very different in five years’ time as the millennials rise through the ranks and challenge the management culture in many organisations,” he says. Why does the march of the millen- nials matter? Deloitte estimate mil- lennials will comprise 75 per cent of the global workforce by 2025, so it’s critical firms get to grips with the talent management of this genera- tional cohort. In the UK, millenni- als currently form 35 per cent of the UK workforce and this figure can only increase. Organisations ignore the develop- ment of millennials in their work- place at their peril, warns Dimple Agarwal, a partner at Deloitte. “In most global companies, 40 to 50 per cent of their workforce are mil- lennials. If you’re not taking care of a big chunk of your workforce now, then you’re already behind your competitors,” she says. “It’s a big cultural shift as people in the top positions in large, consumer businesses are not millennials, but if you look at the technology and startup sector, then millennials are already in leadership positions.” The 2016 Deloitte Millennial Sur- vey of 7,700 millennials in full-time employment and drawn from 29 countries found that nearly two- thirds of millennials say their lead- ership skills are not being fully de- veloped. This was despite the fact that millennials believed business placed the highest value on lead- March of the mil lennials seems unstoppable They are already in charge of successful tech and startup busi nesses, but the millennial generation have their sights on other top corporate jobs NEW LEADERS KAREN HIGGINBOTTOM Mark Zuckerberg, the 32-year-old chief executive of Facebook, is one of the most well- known millennial business leaders ership as a skill in a 2015 Deloitte survey. “There is a big gap in expec- tations with millennials believing that organisations are not investing enough in them,” says Ms Agarwal. A lot of organisations will spend large sums of money on leadership development, but it’s usually target- ed at the top two to three layers of the organisation. She says: “Organ- isations aren’t investing across the whole workforce, which is why they need to redirect their investment.” The 2016 Deloitte survey also re- veals that the millennial generation aren’t particularly loyal to their em- ployer as two in three millennials expect to leave their organisation by 2020. This presents a big talent man- agement challenge for organisations striving to retain a large segment of their workforce. M i l l e n n i a l s change jobs more frequently than previous gener- ations, says Sue Honoré, associate research consult- ant at Ashridge Ex- ecutive Education. “Therefore, they are constantly seeking interesting and challenging work, and have less patience for drudgery. They value coaching and mentoring highly, and expect those more experienced people around them to provide that freely,” says Dr Honoré. But what type of development do millennials crave in the workplace, particularly for leadership roles? Ms Agarwal says: “There may be parts of the organisation that are not convinced they have the expe- rience, but it’s about taking risks. It’s about creating opportunities to give them leadership roles early on and skills, such as how to manage senior stakeholders and how to de- velop your ability to envisage where the business is going.” This generation is nomadic, and open to working and living abroad, says Mr Hime. “They want expo- sure to new cultures and geogra- phies. This will be a leader who wants to be truly cross-cultural and embed themselves into a different environment, so their style is much more global,” he says. Another factor that distinguishes millennials from other generations is their preference for technology, says Ksenia Zheltoukhova, research adviser for the Chartered Institute of Personnel and Development. Leadership development needs to change not just due to the expectations of the millennial generation, but as a result of the volatile economic conditions in which businesses operate TALENT MANAGEMENT raconteur.net04 RACONTEUR RACONTEUR raconteur.net 05TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016 Getty “They want to access information quickly and want more real-time feedback, so organisations need to develop learning on the job rather than going on a course,” she says. The development of millennials needs to resonate with them and not just be linked to financial per- formance, Omid Aschari, profes- sor of strategic management at the Institute of Management, Univer- sity of St Gallen, in Switzerland, observes. “They don’t buy into the fairy tale that as long as the balance sheet is fine, direct and indirect stakeholders benefit as well,” he says. “Millennials are more sensi- tive to the way the organisations assume responsibility beyond its own wellbeing. They want to see the wider impact on society and the wider environment.” However, it’s important not to push away other generations by catering solely to the needs of your millennial workforce, warns Nico- la McQueen, managing director of Capita Resourcing. “One size does not fit all,” she says. “While they may require a different approach, it’s important not to alienate other generations in the business and in- stead use millennials as agents for change in the leadership develop- ment process. Talent identification programmes should be mapped across all generations in the busi- ness in order to be effective.” Leadership development needs to change not just due to the expecta- tions of the millennial generation, but as a result of the volatile eco- nomic conditions in which busi- nesses operate, says Dr Bernd Vogel, associate professor of leadership and organisational behaviour at Henley Business School. “It’s about more stretch assignments and on- the-job learning especially if you have a business environment that is ambiguous and volatile,” he says. The rapid pace of change in the business world will mean that mil- lennial leaders, in fact any business leader, will have to be adaptable and inclusive, argues Ms Agarwal. “One of the crucial leadership qual- ities needed by future leaders will be the ability to embrace different cultures and diversity of thinking, and the ability to change.” The millennial generation is all about “mindful” leadership with a focus on values, conduct and peo- ple, says Mr Hime. “They thrive on building and motivating teams. They want to develop themselves and their colleagues. They are con- structive agitators, with a remark- able ability to achieve goals in a shifting environment.” Ms Zheltoukhova believes that millennial leaders will be interest- ed in a wide range of outcomes from leadership, not purely financial. “Millennials are much more inclu- sive in their approach and they’re not just thinking about the bot- tom-line outcomes, but the social outcomes as well,” she says. This preference for ethical leader- ship is reflected in the 2016 Deloitte Millennial Survey which found that 87 per cent of millennials believe that the success of a business should be measured in terms of more than just its financial performance. Millennial leaders will be highly networked and far more entrepre- neurial, Dr Honoré predicts. “They will look for personal value in any role and probably switch loyalties quickly if they feel they are not gaining from their work,” she says. “They may be less skilled at face-to- face people skills and the commu- nication of tough messages, which may impact their effectiveness as leaders. However, the best of this generation will be very successful and exploit the skills they have de- veloped in their lives, and pick up those they may have missed out on compared to previous generations.” One of the challenges facing mil- lennial leaders is that there will be multiple generations in a work- place, Ms Agarwal points out. She says: “Leaders will have to be ad- aptable and inclusive as they will have to deal with four generations in the workplace. A lot of older workers are rejoining the work- force, and organisations need to think about multiple ways of de- livering learning and development as it’s not just about developing the millennial generation.” Mr Hime believes that the emer- gence of millennial leaders will challenge organisations’ talent management practices. “Organ- isations will need to adapt to the emergence of these millennial lead- ers otherwise they will struggle to pass on the baton,” he says. “Some boards already look and feel com- pletely renewed. Others have recog- nised the need for change and are taking action. The ego-obsessed, hierarchical boards of old are sim- ply not suited to the post-recession culture of businesses today.” HOW MUCH CONTROL MILLENNIALS FEEL THEY HAVE OVER THEIR CAREER PATH Source: Deloitte 2016 Don’t know 2% It is totally controlled by others or events outside my control 3% It is mainly influenced by others or events outside my control 18% I have a large degree of control, but not complete control 48% I have total control 29% HOW SUPPORTING LEADERSHIP AMBITIONS BUILDS LOYALTY AMONG MILLENNIALS Source: Deloitte 2016 There is a lot of support for those wishing to take on leadership roles My leadership skills are not being fully developed Younger employees are actively encouraged to aim for leadership roles I feel that I’m being overlooked for potential leadership positions 68% Those planning to stay for more than five years Those planning to leave within two years 52% 54% 71% 68% 52% 42% 57%
  6. 6. I f there’s one thing employers fear most about an improving economy it’s the very real spec- tre of employees recognising this too and deciding to up-sticks and look for pastures new. According to the Bank of England, wages grew by just under 2 per cent in 2015 and recent research by CV Library, the UK’s largest online job- site, revealed what many bosses have already felt that thanks to a surge of new vacancies – up 15.8 per cent compared to the same time a year ago – staff are looking to quit in growing numbers. Employees are downloading around 220 applications every sec- ond, says CV Library, and it predicts seven million will be actively seeking new job opportunities this year. According to workplace experts, the driver for employees think- ing the grass is greener can be ex- plained by one word – engagement or rather the lack of it staff feel to- wards their companies. Engagement is often described as people’s willingness to go the extra mile, but just 16 per cent of UK em- ployees say they are willing to put in extra effort at work, the lowest it’s been for four years, according to CEB’s December 2015 Global Talent Monitor. Employees feel demotivat- ed, with the psychological contract between employer and employee hit- ting new lows. Boosting engagement has been the Holy Grail for some time, but human resources experts will also be the first to admit it’s an elusive thing to pin down. So much so that some now actively dislike the word entirely. “So-called motivational away-days, chocolates left on desks – it’s all COMMERCIAL FEATURE How to engage and retain your top staff Losing staff is a costly business, but there are ways of winning loyalty through engaging employees who then give their best branded under the banner of staff engagement and motivation,” says Mike Greatwood, former HR direc- tor at Computacenter, now chief executive of the Dream Manager Programme. “The problem is staff see these as unauthentic behaviours that are in the organisations’ inter- est, not the employees’.” So convinced was he that there must be something better that he flew to America after reading New York Times bestselling author Matthew Kelly’s Dream Manag- er book and is now launching the book’s methodology in the UK under the Dream Manager Pro- gramme banner. CHURN PETER CRUSH “The basic philosophy is that true motivation and engagement is creat- ed when firms put their people – not the company – first,” he says. “Em- ployers need to give staff the tools to be better versions of themselves and, crucially, this doesn’t just have to be in their professional development; it can be in their personal lives too. “Firms using the methodology – and several FTSE clients already are – help staff rediscover their dreams and then help them achieve the dreams. It’s proven that those who feel more positive about their future are 50 per cent more likely to be hap- pier with their ‘now’. This is the mo- tivation employers need to tap into.” Bosses might baulk at involving themselves with their employees’ “outside”lives,butmoreandmorethe notion is catching on that motivation and engagement is as much about how people can manage themselves outside, as much as inside, work. “Three months ago we invested £100,000 building a free on-site, 24-hour gym,” says Charlie Mullins, boss of Pimlico Plumbers. “I think it’s been the biggest boost to staff engagement for years. It’s not some- thing to try and get staff to work harder, it’s just for them. As a result we know it’s valued. “Staff come in on their days off just because they want to work out and people say they’ve cancelled their existing gym membership, so they also have more money in their back pockets too.” By having this staff-matter-first approach, Mr Mullins says addition- al perks, such as monthly best em- ployee awards, rewarded with a £200 Langham Hotel voucher, can be the icing on the cake, rather than the be- all and end-all. Plumbing is one of the most highly sought-after trades, but Mr Mullins says he no longer wor- ries about retention and argues that the beauty of this approach is firms can do whatever works best for them. For some firms it’s providing fi- nancial education to staff. Accord- ing to research by the Social Market Foundation, one in eight workers worry so much about their finances, it stops them concentrating at work, while for others, it’s helping their physical wellbeing. At Danone UK, for example, in 2013 the company decided to put health at the centre of how it could help cre- ate an environment where staff felt valued, to bring its external “health through food” brand internally to staff. Part of this has included paying for an annual health MOT. “The checks are wide-ranging and include areas that aren’t covered as standard by the NHS,” explains John Mayor, Danone’s head of UK rewards. “They include atrial fibrillation or AF and peripheral artery disease screen- ing, which we feel is especially im- portant as an estimated 20 per cent of AF cases go undiagnosed.” Little can be more engaging for staff than their employer uncovering potential health problems early, and already Danone has identified work- ers with potential coeliac disease and diabetes. A surprise finding was vitamin D deficiencies in staff, so vi- tamin D sprays and supplements are available to all, and a walking club has been set up. For those who feel motivation still comes from giving professional de- velopment too, at cinema chain ODE- ON & UCI, having a holistic approach is how Kathryn Pritchard sees the perfect relationship being struck. “We feel work is a partnership – about setting out a two-way relation- ship,” she says of the new initiative ODEON has developed that recog- nises seven phases in an employees’ career. “We know we won’t hold on to everyone, but it doesn’t change the fact we want to give people skills for life, such as confidence to our young- er staff. All managers are training in giving ‘be better’ feedback, so staff are encouraged to do more of what they’re brilliant at. “In return, we’ve set out clear ca- reer paths for those who want that and provide flexible working to help people manage their outside lives. The more people feel good about themselves, the more they feel good about work. When everyone is clear about expectations from both sides, and our values are lived by execu- tives, people’s best self follows. We don’t say to staff ‘you fit into our world’; we make work a partnership and by doing so feel we create a sweet spot where everyone is happy.” Share this article online via raconteur.net IMAGE London offices of Google, which provides numerous em- ployee benefits, including on-site medical care and free legal advice Getty True motivation and engagement is created when firms put their people – not the company – first TALENT MANAGEMENT raconteur.net06 RACONTEUR RACONTEUR raconteur.net 07TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016 EMPLOYEE LOYALTY AND EFFORT GLOBAL LABOUR MARKET SURVEY OF CURRENT EMPLOYMENT Source: CEB 2015 Intent to stay Willingness to go above and beyond 2009 2010 2011 2012 2013 2014 2015 40% 10% 25% 35.1% 17.5% 39% 16% of UK workers reported a strong intent to stay with their current employers were prepared to go above and beyond to help their colleagues and volunteer for addi- tional workloads RACONTEUR raconteur.net 2XXXXxx xx xxxx COMMERCIAL FEATURE DEVELOP TALENT TO SCORE BUSINESS GOALS Neil Davidson, vice president of enterprise at Deltek, explains how organisations that align their talent plans and business operation can thrive W hen you hear the words “people are our greatest assets”it’sbecausenowadays they really are. Thankfully, in today’s competitive landscape, business leaders increasingly understand that organisational success has less to do with the things they make and much more to do with the people they have, and the strength of the relationships they are able to develop with clients. In no industry is this more pronounced than professional services where people and expertise are the values on offer. But talent management – the process for making sure these well- meant words are actually day-to- day reality – is so much more than simply recruiting the right people, retaining them, and giving them the skills and experience to succeed. These elements are critical, but we believe it’s how this is ingrained within all corners of the business that really matters. Talent management can’t just live as a concept within the human resources department; it needs to be fully aligned to the operations and day-to-day service delivery in order for a firm and its people to prosper. For talent to truly feel engaged and listened to, there needs to be two-way conversations about what they want, where they’re deployed and how they can go to the next level. Not only must these conversations happen, they must be founded on data and so ingrained into a company’s culture it should no longer be something only HR does. So why doesn’t this always happen? Talent management programmes can sometimes be knee-jerk. Programmes can be introduced because firms identify, say, a retention problem and think that a talent initiative will remedy it without fully appreciating how to unite it within their culture and operations. But a notional idea that talent must be the focus is only half the answer. Think about this: has the business really looked at why staff might be leaving? Maybe they’re simply not recruiting the right people. Maybe line managers are not diverting the right people into the right roles. Maybe there are too few or too many badly timed conversations about upcoming opportunities within the project pipeline. Maybe highly skilled people are being assigned to low- skilled projects. Maybe people don’t know where and what they will be working on one day to the next. It’s only when all parts of the organisation start asking these sorts of questions that silo mentalities are finally broken down. The antidote to this is talent management that takes the holistic view; talent management that is data-led and where the activities of people can be linked so they are bound up with the operational strategy of the business. To apply a sporting analogy, think of this approach of using data to align operational and people goals as applying Opta Stats to your firm. But it is not about the metres run, number of assists or goals scored; it’s about projects completed, margins achieved, utilisation and client retention rates. Think about what this intelligence can mean to the individual, team and organisation in terms of performance and development. Withmarginsunderpressure,clients demanding more and competitors ready to pounce, the professional services industry needs to stay at the forefront of this transformation. Research from IDC shows that firms without a human capital management or talent programme see a dramatic decline in staff utilisation, project win- rates and revenues. This reinforces that operational goals can’t be achieved without investment in your people and their development. To achieve this, talent needs to be championed right from the very top. Evidence shows most employees want a say in how they can satisfy themselves as individuals, as well as the needs of the organisation. It’s often assumed talent is peripatetic, always ready to up sticks and leave, but actually employees mainly want to feel engaged. Staff today expect more dialogue about how their careers are going; they need to be given this reassurance. The once-a-year appraisal will soon be a thing of the past and already firms like Deloitte, and indeed Deltek, are dropping it in favour of more regular feedback discussions. There’s no reason staff have to leave if organisations can align the wants and needs of both staff and the business. Employees and line managers simply need to be open with each other. When they are, we find both parties tend to feel part of, and take ownership of, their own trajectories. Sowhataretheremainingbarriers? It’s often said the way businesses have to organise themselves means true collaboration is difficult. But we disagree. Business structure is not a constraint in itself. Managers simply need to be able to uncover the right insights. When stakeholders receive the insight they need, they can act and make critical decisions. Talent management is much less about organisational complexity, and much more about measuring key performance indicators, and then putting these into the context of your recruitment, retention and career development strategies. It’s clear talent is very much the issue of our time. While finding talent may not be any more important than it ever was, what is different is there is a shortage of good talent. What firms need to realise is that this good talent is often already within their ranks; it just needs to be developed to align to the future of the business and client needs. People want purpose from their work; they want to know that what they are doing is Talent management is much less about organisational complexity, and much more about measuring key performance indicators, and then putting these into the context of your recruitment, retention and career development strategies Talent management can’t just live as a concept within the human resources department; it needs to be fully aligned to the operations and day-to- day service delivery in order for a firm and its people to prosper adding value to their organisation. And they also want to know that in doing so they are meeting their own personal needs for advancement and skills development. When organisations have strong alignment between their talent plans and their business operations, then they really do have the foundation to be best in class. A recent IDC survey found hiring and retaining talent was firms’ second-biggest priority at the moment. Yet, at the same time, IDC also found 60 per cent of organisations didn’t yet have a talent management system. Organisations cannot have a coherent talent strategy without the systems and culture to facilitate it. And remember, systems aren’t just about IT. They help bring fact to the sometimes awkward conversations that managers need to have about talent. When people are mentally on board, you’ll soon see they’re physically on board too. For more infomation visit www.deltek.co.uk
  7. 7. I f there’s one thing employers fear most about an improving economy it’s the very real spec- tre of employees recognising this too and deciding to up-sticks and look for pastures new. According to the Bank of England, wages grew by just under 2 per cent in 2015 and recent research by CV Library, the UK’s largest online job- site, revealed what many bosses have already felt that thanks to a surge of new vacancies – up 15.8 per cent compared to the same time a year ago – staff are looking to quit in growing numbers. Employees are downloading around 220 applications every sec- ond, says CV Library, and it predicts seven million will be actively seeking new job opportunities this year. According to workplace experts, the driver for employees think- ing the grass is greener can be ex- plained by one word – engagement or rather the lack of it staff feel to- wards their companies. Engagement is often described as people’s willingness to go the extra mile, but just 16 per cent of UK em- ployees say they are willing to put in extra effort at work, the lowest it’s been for four years, according to CEB’s December 2015 Global Talent Monitor. Employees feel demotivat- ed, with the psychological contract between employer and employee hit- ting new lows. Boosting engagement has been the Holy Grail for some time, but human resources experts will also be the first to admit it’s an elusive thing to pin down. So much so that some now actively dislike the word entirely. “So-called motivational away-days, chocolates left on desks – it’s all COMMERCIAL FEATURE How to engage and retain your top staff Losing staff is a costly business, but there are ways of winning loyalty through engaging employees who then give their best branded under the banner of staff engagement and motivation,” says Mike Greatwood, former HR direc- tor at Computacenter, now chief executive of the Dream Manager Programme. “The problem is staff see these as unauthentic behaviours that are in the organisations’ inter- est, not the employees’.” So convinced was he that there must be something better that he flew to America after reading New York Times bestselling author Matthew Kelly’s Dream Manag- er book and is now launching the book’s methodology in the UK under the Dream Manager Pro- gramme banner. CHURN PETER CRUSH “The basic philosophy is that true motivation and engagement is creat- ed when firms put their people – not the company – first,” he says. “Em- ployers need to give staff the tools to be better versions of themselves and, crucially, this doesn’t just have to be in their professional development; it can be in their personal lives too. “Firms using the methodology – and several FTSE clients already are – help staff rediscover their dreams and then help them achieve the dreams. It’s proven that those who feel more positive about their future are 50 per cent more likely to be hap- pier with their ‘now’. This is the mo- tivation employers need to tap into.” Bosses might baulk at involving themselves with their employees’ “outside”lives,butmoreandmorethe notion is catching on that motivation and engagement is as much about how people can manage themselves outside, as much as inside, work. “Three months ago we invested £100,000 building a free on-site, 24-hour gym,” says Charlie Mullins, boss of Pimlico Plumbers. “I think it’s been the biggest boost to staff engagement for years. It’s not some- thing to try and get staff to work harder, it’s just for them. As a result we know it’s valued. “Staff come in on their days off just because they want to work out and people say they’ve cancelled their existing gym membership, so they also have more money in their back pockets too.” By having this staff-matter-first approach, Mr Mullins says addition- al perks, such as monthly best em- ployee awards, rewarded with a £200 Langham Hotel voucher, can be the icing on the cake, rather than the be- all and end-all. Plumbing is one of the most highly sought-after trades, but Mr Mullins says he no longer wor- ries about retention and argues that the beauty of this approach is firms can do whatever works best for them. For some firms it’s providing fi- nancial education to staff. Accord- ing to research by the Social Market Foundation, one in eight workers worry so much about their finances, it stops them concentrating at work, while for others, it’s helping their physical wellbeing. At Danone UK, for example, in 2013 the company decided to put health at the centre of how it could help cre- ate an environment where staff felt valued, to bring its external “health through food” brand internally to staff. Part of this has included paying for an annual health MOT. “The checks are wide-ranging and include areas that aren’t covered as standard by the NHS,” explains John Mayor, Danone’s head of UK rewards. “They include atrial fibrillation or AF and peripheral artery disease screen- ing, which we feel is especially im- portant as an estimated 20 per cent of AF cases go undiagnosed.” Little can be more engaging for staff than their employer uncovering potential health problems early, and already Danone has identified work- ers with potential coeliac disease and diabetes. A surprise finding was vitamin D deficiencies in staff, so vi- tamin D sprays and supplements are available to all, and a walking club has been set up. For those who feel motivation still comes from giving professional de- velopment too, at cinema chain ODE- ON & UCI, having a holistic approach is how Kathryn Pritchard sees the perfect relationship being struck. “We feel work is a partnership – about setting out a two-way relation- ship,” she says of the new initiative ODEON has developed that recog- nises seven phases in an employees’ career. “We know we won’t hold on to everyone, but it doesn’t change the fact we want to give people skills for life, such as confidence to our young- er staff. All managers are training in giving ‘be better’ feedback, so staff are encouraged to do more of what they’re brilliant at. “In return, we’ve set out clear ca- reer paths for those who want that and provide flexible working to help people manage their outside lives. The more people feel good about themselves, the more they feel good about work. When everyone is clear about expectations from both sides, and our values are lived by execu- tives, people’s best self follows. We don’t say to staff ‘you fit into our world’; we make work a partnership and by doing so feel we create a sweet spot where everyone is happy.” Share this article online via raconteur.net IMAGE London offices of Google, which provides numerous em- ployee benefits, including on-site medical care and free legal advice Getty True motivation and engagement is created when firms put their people – not the company – first TALENT MANAGEMENT raconteur.net06 RACONTEUR RACONTEUR raconteur.net 07TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016 EMPLOYEE LOYALTY AND EFFORT GLOBAL LABOUR MARKET SURVEY OF CURRENT EMPLOYMENT Source: CEB 2015 Intent to stay Willingness to go above and beyond 2009 2010 2011 2012 2013 2014 2015 40% 10% 25% 35.1% 17.5% 39% 16% of UK workers reported a strong intent to stay with their current employers were prepared to go above and beyond to help their colleagues and volunteer for addi- tional workloads RACONTEUR raconteur.net 2XXXXxx xx xxxx COMMERCIAL FEATURE DEVELOP TALENT TO SCORE BUSINESS GOALS Neil Davidson, vice president of enterprise at Deltek, explains how organisations that align their talent plans and business operation can thrive W hen you hear the words “people are our greatest assets”it’sbecausenowadays they really are. Thankfully, in today’s competitive landscape, business leaders increasingly understand that organisational success has less to do with the things they make and much more to do with the people they have, and the strength of the relationships they are able to develop with clients. In no industry is this more pronounced than professional services where people and expertise are the values on offer. But talent management – the process for making sure these well- meant words are actually day-to- day reality – is so much more than simply recruiting the right people, retaining them, and giving them the skills and experience to succeed. These elements are critical, but we believe it’s how this is ingrained within all corners of the business that really matters. Talent management can’t just live as a concept within the human resources department; it needs to be fully aligned to the operations and day-to-day service delivery in order for a firm and its people to prosper. For talent to truly feel engaged and listened to, there needs to be two-way conversations about what they want, where they’re deployed and how they can go to the next level. Not only must these conversations happen, they must be founded on data and so ingrained into a company’s culture it should no longer be something only HR does. So why doesn’t this always happen? Talent management programmes can sometimes be knee-jerk. Programmes can be introduced because firms identify, say, a retention problem and think that a talent initiative will remedy it without fully appreciating how to unite it within their culture and operations. But a notional idea that talent must be the focus is only half the answer. Think about this: has the business really looked at why staff might be leaving? Maybe they’re simply not recruiting the right people. Maybe line managers are not diverting the right people into the right roles. Maybe there are too few or too many badly timed conversations about upcoming opportunities within the project pipeline. Maybe highly skilled people are being assigned to low- skilled projects. Maybe people don’t know where and what they will be working on one day to the next. It’s only when all parts of the organisation start asking these sorts of questions that silo mentalities are finally broken down. The antidote to this is talent management that takes the holistic view; talent management that is data-led and where the activities of people can be linked so they are bound up with the operational strategy of the business. To apply a sporting analogy, think of this approach of using data to align operational and people goals as applying Opta Stats to your firm. But it is not about the metres run, number of assists or goals scored; it’s about projects completed, margins achieved, utilisation and client retention rates. Think about what this intelligence can mean to the individual, team and organisation in terms of performance and development. Withmarginsunderpressure,clients demanding more and competitors ready to pounce, the professional services industry needs to stay at the forefront of this transformation. Research from IDC shows that firms without a human capital management or talent programme see a dramatic decline in staff utilisation, project win- rates and revenues. This reinforces that operational goals can’t be achieved without investment in your people and their development. To achieve this, talent needs to be championed right from the very top. Evidence shows most employees want a say in how they can satisfy themselves as individuals, as well as the needs of the organisation. It’s often assumed talent is peripatetic, always ready to up sticks and leave, but actually employees mainly want to feel engaged. Staff today expect more dialogue about how their careers are going; they need to be given this reassurance. The once-a-year appraisal will soon be a thing of the past and already firms like Deloitte, and indeed Deltek, are dropping it in favour of more regular feedback discussions. There’s no reason staff have to leave if organisations can align the wants and needs of both staff and the business. Employees and line managers simply need to be open with each other. When they are, we find both parties tend to feel part of, and take ownership of, their own trajectories. Sowhataretheremainingbarriers? It’s often said the way businesses have to organise themselves means true collaboration is difficult. But we disagree. Business structure is not a constraint in itself. Managers simply need to be able to uncover the right insights. When stakeholders receive the insight they need, they can act and make critical decisions. Talent management is much less about organisational complexity, and much more about measuring key performance indicators, and then putting these into the context of your recruitment, retention and career development strategies. It’s clear talent is very much the issue of our time. While finding talent may not be any more important than it ever was, what is different is there is a shortage of good talent. What firms need to realise is that this good talent is often already within their ranks; it just needs to be developed to align to the future of the business and client needs. People want purpose from their work; they want to know that what they are doing is Talent management is much less about organisational complexity, and much more about measuring key performance indicators, and then putting these into the context of your recruitment, retention and career development strategies Talent management can’t just live as a concept within the human resources department; it needs to be fully aligned to the operations and day-to- day service delivery in order for a firm and its people to prosper adding value to their organisation. And they also want to know that in doing so they are meeting their own personal needs for advancement and skills development. When organisations have strong alignment between their talent plans and their business operations, then they really do have the foundation to be best in class. A recent IDC survey found hiring and retaining talent was firms’ second-biggest priority at the moment. Yet, at the same time, IDC also found 60 per cent of organisations didn’t yet have a talent management system. Organisations cannot have a coherent talent strategy without the systems and culture to facilitate it. And remember, systems aren’t just about IT. They help bring fact to the sometimes awkward conversations that managers need to have about talent. When people are mentally on board, you’ll soon see they’re physically on board too. For more infomation visit www.deltek.co.uk
  8. 8. It takes all sorts and careful handling to manage a team Long gone are the days of a room full of lookalike salespeople following the same robotic spiel and working towards the same goals – diversity is a strength when managed well INTROVERT In her 2012 book, Quiet: The Power of In- troverts in a World That Can’t Stop Talk- ing, author Susan Cain defines intro- verts as having a preference for a quiet, more minimally stimulating environ- ment. She also suggests that introverts listen more than they talk, think before they speak and have a more circum- spect and cautious approach to risk. She says that expecting introverts to act as extroverts can be damaging. So how do you get the best from them if they won’t speak up? Jim Whitehurst, chief executive of tech company Red Hat, says: “I’ve noticed that while introverts are not always as eager to speak up in a meeting, that doesn’t mean they don’t want to share their great ideas. Encour- age them to use a different outlet, like e-mail or an online forum, where they can process and engage in issues they are passionate about.” EXTROVERT “An extrovert has an awful tendency to judge others as per themselves,” says Henry Daglish, managing director of Arena Media. He suggests playing to an extrovert’s ego: “If you openly un- dermine them, they tend to collapse,” he says. “Help them understand how to work with others and listen. They love fame, so give it to them if they deserve it.” Mr Whitehurst adds: “Extroverts really feed off of the energy of others and tend to shine when the spotlight is on them. That’s why it’s important to create social and teamwork-oriented opportunities for them as a way to keep them engaged and motivated.” ANALYTICAL Studying customer behaviour and data capturing is becoming more and more essential to modern business as it ena- bles us to understand better how compa- nies and individuals use services. Jason Downes, managing director of confer- ence call service provider Powwownow, which conducts personality tests on its staff, says: “Managing analytical types is certainly an aspect of the job that I have had to learn and learn quickly since joining Powwownow. Setting firm dead- lines and targets is something I have found effective, as generally analysts work predominantly with numbers and that’s the language they communicate best with. Analytical people don’t like empty phrases and business buzzwords so use direct communication. Most ana- lysts, although working as part of a team, will perform a lot of tasks individually so it’s important to create a sense of free- dom, avoid micro-managing and allow them time to work away from the office to think more laterally should they want or need it.” CREATIVE “Creative people tend to be considered by analytic types as dreamers, yet cre- ative people can see beyond the current trends,” says executive coach Marielena Sabatier, chief executive of Inspiring Potential, which specialises in team and leadership coaching. Working together with them is key. She says: “With great- er understanding, instead of shutting down creative ideas, analytics could use their strengths in critical thinking and analysis to make the dreamers’ idea more robust and help turn the idea into a reality.” INDIVIDUALIST “Individualists don’t care what oth- er people think,” says organisational psychotherapist Joan Kingsley. “They are not easy to manage, but you abso- lutely want all kinds of diverse peo- ple on your team because if everyone you have is the same, you have what is called ‘group-think’. Individualists are often creative so when managing them it’s important not to interfere with those creative processes because, as soon as you do start interfering, you block their creativity. You’re very like- ly to shut someone down if you try to control them so you need to manage individualists carefully.” However, she warns: “It’s important to set bounda- ries and the rules of the game, which are the same for everybody.” The best way, she says, is to come up with an agreement on how to work together and how they’re going to work within the confines of a team. WORKAHOLIC It’s another loaded word, especially with the current trend for improving work-life balance, but the fact is that some people will always be workahol- ics. This trait can be used positively, however, says Martin Woolley, group managing director at marketing agen- cy The Specialist Works. “There are some people who are called worka- holics who are actually hard-working individuals who are ambitious and en- gaged,” he says. “There are probably no easier people to manage.” However, he warns: “Real workaholics treat work like an addiction, and in some cases will need therapy to help them regain perspective and deal with underlying issues.” If workaholics are managers themselves, there can be strain on their teams who can feel under pressure to be available outside office hours or they simply cannot keep up with the volume of requests or the pace that a workaholic can set. “By definition, workaholics can cover a lot of ground,” says Mr Wool- ley. “They spend more time working than most. This can mean they will go outside the parameters of their brief so it is important to make sure these are clear and you are aware of what they are doing. If they start down the wrong path, they might be a long way up it by the time you realise. And not all worka- holics are as good as they like to think, which means they can do a lot of dam- age very quickly.” MILLENNIAL Sometimes how you behave at work is more about when you were born and how this affects your expectations. Mil- lennials are those born between the early-80s and early-2000s. Phil Jones, managing director of communication and technology company Brother UK, says: “Millennials crave variety, pace and knowledge.” To that end, Brother UK’s review structures take impact as well as performance into account. “Mil- lennials seek purpose,” he says, “This relates to both the business in terms of collective goals, but also being part of a wider social purpose by getting involved with community charity initiatives. We’ve aligned our citizenship-based ini- tiatives even further in response to this.” Author and trainer Rob Brown, adds: “To get the most out of millennials, em- ployers really do need to pull out the stops with technology and workplace comforts. Whether it’s BYOD [bring your own device] or ensuring there is genuine fun and engagement taking place in the office, millennials value relationships, collaboration and creativity, and like to see work as a second home so employers need to ensure there is flexibility and wellbeing perks.” KNOWING YOUR PEOPLE However, classifications such as these should be used with caveats, says Tony Nicholls at organisational change company White Stone OD. “Adapting one’s style to suit those in front of you is a great strength,” he says, “However, if done badly, it can lead to a break- down in communication and trust. “Start by studying the research on each trait and group. Find out what be- haviours are likely to be demonstrat- ed in different situations. Note that each individual may carry more than one trait and polar-opposite traits can show up depending on context.” For example, he adds: “I’m an introvert by nature, but have learnt to be extro- verted at work. Put me in a boardroom and I will hold my own. Put me in a social setting where I don’t know an- yone and I struggle not to run out the door.” Complexities like this, says Mr Nicholls, can make it difficult for man- agers to read the situation, particular- ly with staff they have known only for a short time. “Being clumsy or overt about this ‘reading’ is what really irritates peo- ple and makes them feel they are be- ing manipulated. So avoid the temp- tation to jump to conclusions when first seeing particular traits. Each person needs to feel they are being treated as an individual, not just an- other example of a particular group,” he concludes. Successfully managing a diverse work- force is about discovering, developing and using every employee’s individual potential. And key to this is realising that potential differs. Jane Asscher, chief executive and founding partner at creative communications agency 23red, says: “Recognising that there is no ‘one- size-fits-all’ solution to managing indi- viduals is the first step to ensuring an engaged, productive workforce. “Getting to know the individuals you manage by finding out what motivates them, how they like to receive feedback and how they want their careers to de- velop will enable you to tailor your man- agement style, and enable the kind of open and honest conversations that will facilitate the achievement of both com- pany and individual goals.” TECHNOPHOBE The very word “technophobe” is some- what loaded. But those who purport to fear technology often have, and can be encouraged to use, other skills, even in a digital age. Mr Daglish says: “I find that technophobes are actually pretty good ‘people’ people and can provide a good balance in the modern workplace.” He talks of one employee who insisted on closing his e-mail before he did anything else on his computer. “We tried to get him to change his ways, but it didn’t work,” says Mr Daglish, “and the fact was that he was great with his clients and his people because he virtually refused to do much more than talk to his team or clients and pick up the phone if he really had to. His refusal to use e-mail, personal messagers and ‘Tweeter’, as he used to call it, was massively refreshing, strangely enough.” DIVERSITY HAZEL DAVIS TALENT MANAGEMENT raconteur.net08 RACONTEUR RACONTEUR raconteur.net 09TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016
  9. 9. It takes all sorts and careful handling to manage a team Long gone are the days of a room full of lookalike salespeople following the same robotic spiel and working towards the same goals – diversity is a strength when managed well INTROVERT In her 2012 book, Quiet: The Power of In- troverts in a World That Can’t Stop Talk- ing, author Susan Cain defines intro- verts as having a preference for a quiet, more minimally stimulating environ- ment. She also suggests that introverts listen more than they talk, think before they speak and have a more circum- spect and cautious approach to risk. She says that expecting introverts to act as extroverts can be damaging. So how do you get the best from them if they won’t speak up? Jim Whitehurst, chief executive of tech company Red Hat, says: “I’ve noticed that while introverts are not always as eager to speak up in a meeting, that doesn’t mean they don’t want to share their great ideas. Encour- age them to use a different outlet, like e-mail or an online forum, where they can process and engage in issues they are passionate about.” EXTROVERT “An extrovert has an awful tendency to judge others as per themselves,” says Henry Daglish, managing director of Arena Media. He suggests playing to an extrovert’s ego: “If you openly un- dermine them, they tend to collapse,” he says. “Help them understand how to work with others and listen. They love fame, so give it to them if they deserve it.” Mr Whitehurst adds: “Extroverts really feed off of the energy of others and tend to shine when the spotlight is on them. That’s why it’s important to create social and teamwork-oriented opportunities for them as a way to keep them engaged and motivated.” ANALYTICAL Studying customer behaviour and data capturing is becoming more and more essential to modern business as it ena- bles us to understand better how compa- nies and individuals use services. Jason Downes, managing director of confer- ence call service provider Powwownow, which conducts personality tests on its staff, says: “Managing analytical types is certainly an aspect of the job that I have had to learn and learn quickly since joining Powwownow. Setting firm dead- lines and targets is something I have found effective, as generally analysts work predominantly with numbers and that’s the language they communicate best with. Analytical people don’t like empty phrases and business buzzwords so use direct communication. Most ana- lysts, although working as part of a team, will perform a lot of tasks individually so it’s important to create a sense of free- dom, avoid micro-managing and allow them time to work away from the office to think more laterally should they want or need it.” CREATIVE “Creative people tend to be considered by analytic types as dreamers, yet cre- ative people can see beyond the current trends,” says executive coach Marielena Sabatier, chief executive of Inspiring Potential, which specialises in team and leadership coaching. Working together with them is key. She says: “With great- er understanding, instead of shutting down creative ideas, analytics could use their strengths in critical thinking and analysis to make the dreamers’ idea more robust and help turn the idea into a reality.” INDIVIDUALIST “Individualists don’t care what oth- er people think,” says organisational psychotherapist Joan Kingsley. “They are not easy to manage, but you abso- lutely want all kinds of diverse peo- ple on your team because if everyone you have is the same, you have what is called ‘group-think’. Individualists are often creative so when managing them it’s important not to interfere with those creative processes because, as soon as you do start interfering, you block their creativity. You’re very like- ly to shut someone down if you try to control them so you need to manage individualists carefully.” However, she warns: “It’s important to set bounda- ries and the rules of the game, which are the same for everybody.” The best way, she says, is to come up with an agreement on how to work together and how they’re going to work within the confines of a team. WORKAHOLIC It’s another loaded word, especially with the current trend for improving work-life balance, but the fact is that some people will always be workahol- ics. This trait can be used positively, however, says Martin Woolley, group managing director at marketing agen- cy The Specialist Works. “There are some people who are called worka- holics who are actually hard-working individuals who are ambitious and en- gaged,” he says. “There are probably no easier people to manage.” However, he warns: “Real workaholics treat work like an addiction, and in some cases will need therapy to help them regain perspective and deal with underlying issues.” If workaholics are managers themselves, there can be strain on their teams who can feel under pressure to be available outside office hours or they simply cannot keep up with the volume of requests or the pace that a workaholic can set. “By definition, workaholics can cover a lot of ground,” says Mr Wool- ley. “They spend more time working than most. This can mean they will go outside the parameters of their brief so it is important to make sure these are clear and you are aware of what they are doing. If they start down the wrong path, they might be a long way up it by the time you realise. And not all worka- holics are as good as they like to think, which means they can do a lot of dam- age very quickly.” MILLENNIAL Sometimes how you behave at work is more about when you were born and how this affects your expectations. Mil- lennials are those born between the early-80s and early-2000s. Phil Jones, managing director of communication and technology company Brother UK, says: “Millennials crave variety, pace and knowledge.” To that end, Brother UK’s review structures take impact as well as performance into account. “Mil- lennials seek purpose,” he says, “This relates to both the business in terms of collective goals, but also being part of a wider social purpose by getting involved with community charity initiatives. We’ve aligned our citizenship-based ini- tiatives even further in response to this.” Author and trainer Rob Brown, adds: “To get the most out of millennials, em- ployers really do need to pull out the stops with technology and workplace comforts. Whether it’s BYOD [bring your own device] or ensuring there is genuine fun and engagement taking place in the office, millennials value relationships, collaboration and creativity, and like to see work as a second home so employers need to ensure there is flexibility and wellbeing perks.” KNOWING YOUR PEOPLE However, classifications such as these should be used with caveats, says Tony Nicholls at organisational change company White Stone OD. “Adapting one’s style to suit those in front of you is a great strength,” he says, “However, if done badly, it can lead to a break- down in communication and trust. “Start by studying the research on each trait and group. Find out what be- haviours are likely to be demonstrat- ed in different situations. Note that each individual may carry more than one trait and polar-opposite traits can show up depending on context.” For example, he adds: “I’m an introvert by nature, but have learnt to be extro- verted at work. Put me in a boardroom and I will hold my own. Put me in a social setting where I don’t know an- yone and I struggle not to run out the door.” Complexities like this, says Mr Nicholls, can make it difficult for man- agers to read the situation, particular- ly with staff they have known only for a short time. “Being clumsy or overt about this ‘reading’ is what really irritates peo- ple and makes them feel they are be- ing manipulated. So avoid the temp- tation to jump to conclusions when first seeing particular traits. Each person needs to feel they are being treated as an individual, not just an- other example of a particular group,” he concludes. Successfully managing a diverse work- force is about discovering, developing and using every employee’s individual potential. And key to this is realising that potential differs. Jane Asscher, chief executive and founding partner at creative communications agency 23red, says: “Recognising that there is no ‘one- size-fits-all’ solution to managing indi- viduals is the first step to ensuring an engaged, productive workforce. “Getting to know the individuals you manage by finding out what motivates them, how they like to receive feedback and how they want their careers to de- velop will enable you to tailor your man- agement style, and enable the kind of open and honest conversations that will facilitate the achievement of both com- pany and individual goals.” TECHNOPHOBE The very word “technophobe” is some- what loaded. But those who purport to fear technology often have, and can be encouraged to use, other skills, even in a digital age. Mr Daglish says: “I find that technophobes are actually pretty good ‘people’ people and can provide a good balance in the modern workplace.” He talks of one employee who insisted on closing his e-mail before he did anything else on his computer. “We tried to get him to change his ways, but it didn’t work,” says Mr Daglish, “and the fact was that he was great with his clients and his people because he virtually refused to do much more than talk to his team or clients and pick up the phone if he really had to. His refusal to use e-mail, personal messagers and ‘Tweeter’, as he used to call it, was massively refreshing, strangely enough.” DIVERSITY HAZEL DAVIS TALENT MANAGEMENT raconteur.net08 RACONTEUR RACONTEUR raconteur.net 09TALENT MANAGEMENT10 / 03 / 2016 10 / 03 / 2016

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