In the book that I read about Leading Organizations, “McKinsey senior partners Scott Keller and Mary Meaney address the ten most basic issues facing leaders:
- Attracting and retaining talent
- Developing the talent you have
- Managing performance
- Create Leadership teams
- Making decisions
- reorganizing to capture value quickly
- reducing overhead costs for the long term
- Making culture a competitive advantage
- leading transformational change
- Transitioning to new leadership roles.?
- Since business leaders know that talent is valueable and scarce, and the scarcer top talent becomes, the more companies that aren’t on their game will find their best people cherry-picked by companies that are. In future, this will be even more likely, since millennials are far less loyal to their employers than their parents were. Everything suggest that war for talent will rage on. “Failure to attract and retain top talent” was the number-one issue in the Conference Board’s 2016 survey of global CEOs - before economic growth and competitive intensity.
- People often underestimate the cost of turn-over: the more information - and interaction- intensive the job, the greater the threat to productivity when good people leave it, and the more time and money must be invested in searching and onboarding. And if competitor’s poach your talent, they get an insider’s understanding of your strategies, operations and culture. And picking the right battle isn’t easy - you must understand the true economics of value creation in specific roles. That’s precisely why this can be one of your secret weapon in the war for talent.
- Although based on “Mckinsey Global Survey “ War for Talent 2000.” quoted that though the field in people analytics is still infancy from several system such as Oracle, SAP’s Success Factors, and Workday, assessed that leaders who don’t implement attrition plans to leverage technology in the war for talent will quickly fall behind. and Today, as mentioned by IBM’s Deep Blue Computer, that the world’s best chess players are neither computers nor humans, but human teams playing alongside computers.
- There was no quick fix - Every core team had its own approach to recruiting and all were consumed with their immediate needs. the magic question is How then do we make it happen? In the leader’s worlds there is a saying ‘“fix the leaky bucket and fill it with the finest stuff imaginable.”
- It is instituted from this book that there are five priorities established that is important to deep dive into adjustable succession-planning process. They are 5As “Aspire, Assess, Architect, Act and Advance.” With this methodologies, it becomes a dynamic tool to identify the gaps and mandate for a bold action to institutionalize transparency, the talent office developed an interactive report on hiring, quality, fit and efficiency. As it capture maximum value quickly and with successfully transitioning remarkable productivity kicker as every companies go through cycles of initiatives to improve their talent processes.
