will talent managment superced HRM???Talent Management should be about delivering business success through understanding what we actually mean by talent, and how it will achieve the specific goals of the organization.

WILL TALENT MANAGEMENT

 SUPERCEDE TRADITONAL HRM ???

Talent management is the integrated process of ensuring that an organization has a continuous supply of highly productive individuals in the right job, at the right time. Rather than a one-time event, talent management is a continuous process that plans talent needs, builds an image to attract the very best, ensures that new hires are immediately productive, helps to retain the very best, and facilitates the continuous movement of talent to where it can have the most impact within the organization. "The war for talent has shifted, now it's the war for the right talent," said David Ulrich, leading Human Resources guru. "It is not enough to say that people are our most important asset; but to believe that people are the customer's most important asset." So where does the traditional HRM system survive with the onslaught of outsourcing & automation of most HR operations???

TALENT MANAGEMENT : a strategic & integrative approach

The talent management strategy is superior not just because it focuses on productivity, but also because it is forward looking and proactive, which means that the organization is continuously seeking out talent and opportunities to better utilize that talent. It produces excellent results because it overcomes the major problem of traditional recruiting, which is isolation. It instead integrates the previously independent functions of recruiting, retention, workforce planning, employment branding, metrics, orientation and redeployment into a seamless process.

TALENT MANAGEMENT & HRM : the differentiators

There are some other factors that help define how talent management differs from traditional HRM. They include:

• A focus on high impact positions. A talent management strategy requires managers and HR to determine which jobs, when filled with top talent, have the largest impact on a firm’s success.
• Cross Functional Approach. Talent management builds cooperation and integration between previously independent efforts of line/functional managers, through its heavy use of common goals, metrics and rewards. As a result, no independent function like marketing, production or IT  can be considered successful unless the overall talent management effort is also successful.
• Accountability. Talent management gets managers’ attention by instituting a system of measures and rewards that ensures every manager is recognized and rewarded for excellence in people management (high workforce productivity). It simultaneously measures employee engagement to ensure that managers reach their productivity goals while using the appropriate management behaviors (two-way communications, empowerment, meritocracy, etc.).

¨      Recognition of the business conditions. The talent management approach involves recognizing that different types of talent are required depending on changing business situations & the business cycle. As a result, talent management requires the continuous internal movement of talent in and out of jobs and business units based on current business needs and where the company is in its business cycle. Our experience  with client companies, suggests that too many firms rely on recruiting new talent rather than systematic development of “home grown” talent. This generally leaves them unprepared to respond quickly to business opportunities. It is a constant struggle to have the right people in the right jobs at the right time in order to deliver improved business results.

• Focus on Internal Customer Service. Seamless service is the expectation of talent management. Customer satisfaction, process speed, quality, and responsiveness are continually measured. In our HRD EFFECTIVENESS AUDIT newsletter we have described how this arm of the talent management should be evaluated

¨      Anticipation. While traditional HRM tends to be reactive, talent management is forward looking. It forecasts and alerts managers about upcoming problems and opportunities. It encourages managers to act before the need arises in talent management issues

Primary Principles of Talent Management 

The four primary factors that make the talent management approach unique include:

1. An integrated approach within HR. Talent management formally integrates ALL people management programs and functions so that they work as a continuous & complementing process.
2. Integrating people processes into standard business processes. Talent management goes the next step and further repositions people management programs and processes into the company’s standard business processes, such as the corporate strategic planning process, budgeting, mergers, and new product development.
3. Shifting responsibility to managers. Talent management pushes the accountability and the responsibility for executing people management down to the line management levels.
4. Measuring success with productivity. Talent management shifts the success measures from the more traditional HR and recruiting functional metrics towards measuring the overall productivity of the

The Key Success Factor of Talent Management

 Before going into any detail about talent management, it’s important to take a step back and look at where it fits into the  business map. Start with the operation of the HR department. Most HR departments operate using a functional model where every HR unit operates on a relatively independent basis. Other than HR generalists, every HR unit has independent goals, measures, and budgets. For example, there is little or no integration in the traditional recruiting function between its recruiting programs and the activities of other HR functions like development, compensation, and retention. Although this traditional separation provides the recruiting function with the opportunity to focus on its own specialty area, it can limit the impact of recruiting efforts by not meeting the expectation or needs of other people management and business processes and programs.

"Alignment" is therefore the key element of a successful Talent Strategy.  When selecting or developing people, most organizations focus on the skills, knowledge, experience and behaviours required for the role.  However, some organizations are beginning to look at the behaviours required to operate effectively in a particular team or culture.  Our experience at Synergy Management Associates, in serving our clients, is to have an approach that looks at all of the factors that drive team performance, the relationship between people's motivations and the sorts of organizational cultures in which they will thrive.

Talent Management should be about delivering business success through understanding what we actually mean by talent, and how it will achieve the specific goals of the organization.  It is about ensuring that we value the natural talents and aspirations of our people.  It is about ensuring that we understand what blockages can spoil all our hard work.  It is about operating people processes that join together not only with each other, but with the business's goals.  And finally, it is also about understanding how to manage people for alignment as well as ability.  If we adopt these approaches, not only will business success follow, but we should also have fulfilled and effective people.

Some best practices in Talent Management

Companies which  have excelled at Talent Management have had the following observed best practices:

¨      CEOs were directly involved in the Talent Management process;
- empowered, strategic human resources leaders;
- attentive Boards of Directors;
- unified, comprehensive and integrated approaches to focusing exceptional care upon top-performing executives. "We wanted to create an environment where people feel passionate about their work, where people feel inspired," the CEO  often says

• Monetary rewards are not as strongly emphasized as motivators. Consequently, proactive employers are looking to a broader and more personalized range of non-financial motivators, including:

-          Executive education;
- personal coaches;
- individualized development programs;
- allowing employees to select how they are rewarded.

• These companies  have ambitious succession plans with successful execution of high-potential employee development activities.
• HR departments tended not to have formal budgets for Talent Management - costs being mostly incurred and driven at line management level.
• The distinct presence of performance metrics and accountability around Talent Management programs contributes to concrete action in moving such programs forward.

CONCLUSION

It comes down to whether a company has the talent needed to execute its business strategy. And the signs of a faltering system are readily apparent: failing to meet business targets or objectives; shortages of key talent; talent management a low corporate priority; employee morale and satisfaction on the wane; problems recruiting employees; problems retaining employees; a tarnished employment brand. The end result of the talent management process is to increase overall workforce productivity through the improved attraction, retention, and utilization of talent.

BEST COMPLIMENTS

DR WILFRED MONTEIRO

DON"T QUIT: an inspirational poem to cheer in life's dire moments

DON'T QUIT - AUTHOR ANON There are literally thousands of examples of people repeatedly failing before they succeeded. Here are just ten more examples. 1.Henry Ford  The first automobile Ford designed was the Quadricycle, which wasn’t fit for mass production. Then Ford founded the Detroit Automotive Company, which failed because Ford’s perfectionism got the better of him and he couldn’t stop tinkering. Ford had little to show for his work 18 months into the effort, and the company was disbanded. Ford eventually started Ford Motor Company and built the Model A. The first batch had so many problems that Ford had to send mechanics throughout the country to fix the cars. The good news, the mechanics came back with ideas to improve the cars, and that knowledge went into correcting the future builds. “Failure is simply the opportunity to begin again, this time more intelligently.”  2. Orville and Wilbur Wright After several years of building kites and gliders (and numerous crashes), the brothers changed the world on Dec 17, 1903 when they broke the bounds of gravity and flew a manned heavier-than-air machine. And this was achieved by two men with no formal engineering training. The two brothers were originally inspired by a toy helicopter that their father brought home and flew around the room. Orville took his father on what was his dad’s one and only flight. As Orville gained elevation, his dad enthusiastically yelled out… “Higher Orville, higher!” When Neil Armstrong stepped onto the moon, inside his spacesuit pocket was a piece of fabric from the wing of the original Wright Flyer. 3. Thomas Edison His grade school teachers said he was “Too stupid to learn anything.” Yet he helped develop many inventions that ushered in the modern age, including the motion picture camera, the phonograph and a practical light bulb. Edison was also an extraordinary businessman who was an early advocate of mass production and teamwork in the process of innovation, with over 1,000 US patents. 4. Abraham Lincoln Lincoln had his share of setbacks including failing in business, failing to get into law school, suffered from depression, being defeated for nomination to Congress and being defeated for nomination for Vice President. He continually kept moving forward, and was elected President in 1860. 5. Vincent Van Gogh  Van Gogh sold a single painting during his lifetime, yet he completed over 800 works. Once he gave a painting to a Doctor Rey as thanks for his services, and the physician then used the gift to cover a hole in the roof of his chicken coop. Today his painting “Portrait of Dr. Gachet” (different than the one mentioned above) has an adjusted valuation of $149 million. “A great fire burns within me, but no one stops to warm themselves at it, and passers-by only see a wisp of smoke.” 6. S Honda  Honda started a machine shop in 1937 to produce piston rings for Toyota, where he labored long hours and even slept in the workshop. To keep things going, he pawned his wife’s jewelry. Unfortunately, his product failed to meet Toyota’s quality inspection standards and was rejected. Rather than give up, he went back to school and kept working until winning a contract with Toyota two years later. As steel was not readily available during the war, he collected surplus gasoline cans discarded by US fighters, calling them “Gifts from President Truman,” which he used as raw materials for manufacturing. Honda endured his factory being devastated by a bomb and then later being destroyed by an earthquake. The gasoline shortage after the war resulted in people walking or riding bicycles, so Honda started modifying bicyles by attaching a small bicycle engines. Honda Motor Company ‘s revenue was $119 Billion in 2014. 7. Akio Morita His first company was called Tokyo Telecommunications Engineering Corp, which came out with a rice cooker that burnt rice and ended up selling poorly. Rather than making knock-off products like many other Japanese companies, Morita wanted to develop quality innovative companies, and focused on a pocketsize radio. The best he could develop was just a bit too large for a typical pocket, so he had his salesmen wear shirts with oversized pockets so the radio would fit. Morita also foresaw the importance of branding, and changed the name of his company to Sony. 8. J.K. Rowling At one point a single mom without a job, Rowling was living off unemployment benefits, had an unfinished book and two mouths to feed. She was rejected by twelve different publishers, and began to lose confidence in her book. Finally, Barry Cunningham, an editor at Bloomsbury Publishing agree to publish the book (in part because his 8 year old daughter liked the first chapter), though Rowling was admonished to get a day job because she wouldn’t make any money writing children’s books. She said, “Rock bottom became the solid foundation on which I rebult my life.” Today, JK Rowling is worth approximately $1Billion. 9. Elvis Presley The King hardly needs an introduction. Yet when Presley tried out as a vocalist for the Eddie Bond band, Bond rejected him with the advice to stick to driving “because you’re never going to make it as a singer.” Similarly, Presley was told by Jim Denny, the Manager of the Grand Ole Opry, “You aint going nowhere son, you ought to be back to driving a truck.” 10. Oprah Winfrey  Born in economically troubled neighborhood and raised by a single teenage mom, Oprah experienced considerable hardship, including being physically abused as a teenager. Winfrey is a media proprietor, talk show host, actress and philanthropist. Her net worth is $3 Billion. And the eleventh person in this list could be you! Keep up your morale in downtime. Success is never permanent but failure can be a stepping stone to further failure. If you dont fightback after a setback. Best wishes Dr Wilfred Monteiro

STRATEGIC SELLING: my master key to step up sales for institutional selling

 Keeping the fundamentals of STRATEGIC SELLING PLAN  implementation in focus will help turn your account plan into results much faster.

 We asked 225 seminar participants (from companies that engage in formal strategic account management) how much more revenue they believed they should be generating with their strategic accounts:

·         6 in 10 respondents believed they should be generating 25% or more

·         3 in 10 respondents believed they should be generating 50% or more

To do better in this year we the questions we must all ask ourselves, then, are:

• Are there significant growth opportunities in our strategic accounts?
• What will it take to capture these opportunities?
• Are we willing to do what really needs to be done to turn these opportunities into results?

How can your organization sell more and sell smarter in year-on-year  when we have to factor market demand stagnancy and inspite of it hope to achieve higher sales turnover? The Answer is :By creating a powerful STRATEGIC SELLING PLAN - an environment that inspires and engages everyone in the organization to become part of the virtual sales team and support the business development efforts.

 

 

WHAT IS STRATEGIC SELLING PLAN?

It's the concept that everyone in an organization is in sales - including CEOs, accountants, lawyers, administrative assistants, as well as sales team members. Organizations with a sales culture are full of selling professionals - people who embrace the concept that they have a role in sales, whether they are directly or indirectly involved with the actual transaction.

Companies with a sales culture have discovered that by mobilizing and harnessing the power of the entire organization they can effectively boost overall revenues, profitability, and growth. eight questions that most companies need to answer in order to develop a reliable, scalable and repeatable sales process.

Is your process Customer-Centric (as opposed to company-centric)? 
2. Do you have a process that is scalable, optimized and efficient? 
3. Do you have and use clear metrics and tools to see what is working, and what is not? 
4. Do you have and do you demonstrate a precise understanding of what actions you can take to grow sales? 
5. Have you identified bottlenecks and do you know show you how to resolve them? 
6. What are you doing to decrease the cost of customer acquisition? 
7. Is Marketing is correctly aligned with Sales, and directly helping to close business? 
8. Are you using the best techniques to increase, measure and manage lead generation and flow?

To achieve speed and momentum for your Key Account Sales Team, there are multiple requirements (data, resource commitments, activities) that, if coordinated, can help improve the odds of success for the short- and long-term relationship. The fundamentals of Key Account Plan implementation outlined below can help the Key Account Sales Team shorten the sales cycle.

CUSTOMER PROFILE –

Basic business intelligence about your customer is a start. Maintaining a base of knowledge will ensure a clear and consistent understanding of your customer's enterprise, markets, objectives, management team, competition, industry dynamics, financial results, and future plans. Customer records are an organization asset and should be updated when significant changes take place. Have your Key Account Sales Team review and update them at least twice a year.

ANALYSIS –

Solid analysis of this intelligence will allow your Key Account Sales Team to leverage their customer's most important business drivers into their sales strategy. Understanding their customer's financial condition, competitive differentiators, product positioning, and THEIR customers will allow your Key Account Sales Team to better position your company's product or service. Beware of "analysis paralysis." Focus most of your analysis time on how your solution will provide value to the customer based on their internal metrics.

ACCESS AND ALIGNMENT –

The quickest, most effective path to validate a customer need is by talking to the most important individuals in the decision process. By verifying that your company's solution is aligned to your customer's business issues, it becomes clearer who should hear what message from your team.

ALLOCATION OF RESOURCES AND ASSIGNMENT –

It is important to formulate a clear consistent message and ensure that everyone on the Key Account Sales Team knows who is responsible for delivering it. The message must be crisp, customer-focused, and value-based. Effectiveness in this area sets the stage for progress.

VENTURE TO HIGHER LEVELS  –

In the process of developing their strategic sales plans, your Key Account Sales Team must establish extraordinary goals and objectives for account strategies and opportunities. More than just "thinking outside of the box," your team should develop solutions that bring the highest possible value to their customers. Successful Key Account Sales Teams challenge assumptions. They look at what might be possible if the plan is flawlessly executed.

BUSINESS-TO-BUSINESS RELATIONSHIPS –

Your Key Account Sales Team's primary focus must be on establishing organizational relationships that will most enhance the value and quality of your customer's offering. Value that comes from your company to, through, and with the customer to their ultimate customer is powerful. The relationship is less vulnerable to organizational changes and shifts when strong business-to-business links are in place.

BENEFITS STATED AS VALUE PROPOSITIONS –

The solutions your Key Account Sales Team offers to your customer should be re-written to differentiate your company's value. Clearly state what unique ability your company has that will allow the customer to achieve a specific need, with metrics validated by your customer. Your company will be viewed as an enabler of your customer's business drivers rather than just a supplier. Look for quick demonstrations of your solutions' success.

BEHAVIORS FOR RESULTS –

Your Key Account Sales Team needs the customer on the "same side." Being on the same side means the customer acts differently, including:

Providing validation that they believe your company understands their business needs

Acknowledging a willingness to further investigate your company's ideas

Committing customer resources to implementation

Providing support for your company's plans and recommendations throughout their organization

Agreeing to reference your company to others

CUSTOMER FOCUS –

Your Key Account Sales Team must become part of your customer's portfolio of resources. They need to convey the feeling that your customer will be more successful by working with them. Your team must frame their capabilities in the context of your customer's business.

 SPEAK IN ONE VOICE

Complex Key Account Sales Teams who work with multiple products or business lines must collaborate to ensure that consistent messages are sent. Frequently, mixed messages from the same company cause internal competition and customer confusion. Your Key Account Sales Team must take the initial step to open the conversations and provide an environment of trust for your customer. This will pull your team into the opportunity much faster.

COMMITMENT TO SUCCESS –

Developing winning sales strategies and account plans involves all sales and service personnel who will have direct contact with your customer. All members of your extended sales team need to be committed to action items, consistent value messaging, and clear customer communication. This extended team must have a can-do attitude that they can maximize the customer's objectives.

COMMUNICATION –

Everyone involved with the Key Account Sales Team should have access to regular clear communications, from the documentation of initial plans to status reports of progress (or setbacks) against projected milestones. Concise, clear, and easily updated communications minimize potential delays or missed objectives. As the relationship with your customer progresses, including your customer in the internal communication process will foster trust and collaboration. Team communications is the catalyst to keep momentum.

Keeping the fundamentals of STRATEGIC SELLING PLAN  implementation in focus will help turn your account plan into results much faster. Keep it simple. Work on each area and make sure clear goals, assignments, due dates, and commitments are met and communicated to your team and your customer. The net result is higher value for both your company and your customer.

 

Best of luck

Dr Wilfred Monteiro