Cultivate Talent March Newsletter

Cultivate Talent March Newsletter

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  Cultivate Talent March 2011Issue 1 Engaging Talent, Building Trust, Inspiring Change www.cultivatetalent.biz Contents Cultivating Change; Socialising Ideas Developing High Potential Cultivating Change; Making Leadership Transitions Work Making Social Media Socialising Ideas Work For You Social media technologies are frequently sense to tap into the creative talent pool, network specifically designed so people demonstrating their power in bringing usually ignored and un-harnessed, to create repeat, reinforce and value the behaviours together disparate groups of people through an ideas repository. that lead to the delivery of our customer sharing ideas, desires, and taking action for a promise” (Glenn Manoff). They also have an common cause whatever the risks. This approach will challenge leaders to be “Ideas Bank” that encourages a hot bed of more open and give up some control in order ideas to improving customer service and There are a growing number of organisations to allow this talent pool to have meaningful introducing new products. looking to leverage social media to help influence on the direction and decision- deliver the pace of change and innovation making of the organisation. It should be For those organisations having to move required in these difficult economic times. embraced, rewarded and encouraged to through an intense period of transition, develop new workable ideas to increase needing to review their strategy and business It is calling for a collaborative leadership style profitability and service levels; provide a model, what have you got to lose by asking which taps into the depth of talent, sentiment shining light for the future of the organisation. your people “What do you think” and then and passion that exists within every organisa- acting on their advice or better still tion. This is not to say that senior leaders are At O2 they have established an in-house empowering them to take action thereby bereft of ideas, but it makes good business social network, FanBook, which is “The social owning the change? Developing High Potential Glaxo Smith Kline announced their Graduates •Establish and develop a large number of Payback Programme, committing to recruit the top promotable employees for all key areas in your 50-100 graduates, and pay off their student loans. organization, not just for leadership and senior GSK are looking to develop their own high potential management positions. talent pool that can deliver the next generation of scientific innovation, maintain their leading position •Ensure it includes the building networks of market and competiveness in their target markets. intelligence on talent operating outside the company using employees to also look for the right talent and This announcement highlights a growing trend in make referrals organisations who are realising that the traditional recruitment process is not working for them. They •Increase employee engagement and retention; employees who are part of a talent pool recognise there is a need to commit to proactively are more likely to stay with an organization. investing in young talent and high potentials as a key part of delivering their business strategy. •Proactively work to be ready at any point to fill key roles throughout the organization From our experience in working with clients in establishing talent pools, we have seen up to 40% Quantifiable benefits of strategic focused succession cost savings, with significant improvements in planning: quality and performance over a two year period. •Reduces organisational risk of talent turnover and business interruption Our practical set of best practice guidelines for planning and executing a successful talent pool •Improvement in employee morale and program includes: engagement levels •Enhances employee development and its impact •Identify the skills and competencies required to •Expediting goal achievement support your 3-5 year strategic plans and cultivate these in your high-potential employees through •Improved earnings and performance structured development
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  Making Leadership TransitionsWork When leaders take up a new position in the •How these goals relate to their own area for success in their new role. organisation, regardless of their seniority and business unit or talent, they are vulnerable in their first Underpinning this, the new leader should •Review current challenges facing the few months, because they lack the detailed formalise an action plan, including a “First organisation and their business unit knowledge of the challenges facing them. 90 Days” schedule, before they start, •Understand each others’ motivations, which can be discussed and agreed by the values and working styles Research shows that it is vital to leader and their Line Manager in advance. create momentum in the first few months •Agree scope and authority for the new This plan will formalise the commitment or face an uphill battle for the rest of their role by the Line Manager to actively coach and tenure and evidence shows that 40% of •Building an effective network to support support the new leaders approach, and senior executives are seen to fail within the them in delivering key goals gives them a clear mandate with which to first 18 months. •Agree key objectives and measurements lead. To make these transitions more effective, This approach will help ensure that they both for internal promotions or new hires, make a positive impact from the outset we would recommend the Line Manager and create the right momentum to im- should meet with the person before they prove performance with a clear strategy in start in their new role to cover the place. It should also reduce the risk of following:- failure and the costs associated both for •Review strategic goals, vision and values the company and individual’s career. of the organisation Making Social Media Work For You When people talk about social media, we between customers and your brand. • Have a clear agenda and plan carefully think of the top 5 sites Twitter, Facebook, how it is going to be delivered YouTube, Beebo & Flickr though there are It works best when this conversation • Research the market. Many sites cater well over a 100, many with millions of sub- drives an action, where the business looks for particular groups and interests so use scribers and their own specialist audience vital and fresh, promotes the idea that “we the most appropriate to your needs profiles. In the business area, LinkedIn should all be part of the activity” and • Make the time or hire a social media continues to grow in statue as ‘the’ “belong to the tribe”. This approach has professional to deliver the strategy for you network for professionals to promote been effective for large leisure technology • Deliver communications that engage and themselves and their businesses. companies like Apple and Virgin. However drive an action you do not need to be a giant to get huge This huge landscape offers instant benefits from using social media but it Use it smartly it will help build your brand connection to millions of people and is the needs to be part of your strategy and your profile. Use it poorly and you will be left Holy Grail for many businesses to attract messages match your customers’ profile. twittering to yourself ... new customers, increase sales and the because no one else will be entrance ticket to the kingdom of cool. It The problem is that it is content hungry listening. can deliver true value if the messages are and, just like normal conversations, if what part of an integrated strategy delivered you have to say is not interesting then no across multiple platforms. It’s great for one will listen. Too many companies dip Gerald Elliott, MD engaging customers in new initiatives, into it without a clear goal or don’t spend EP Brand Communications getting responses to competitions or the time needed to really build a profile. WWW.Epbrandcomms.wordpress.com special events. Used like this the social To make it social media work for you: media can deliver the conversation For more information about Cultivate Talent or any enquires on how we could help you then please contact: Adrian Woodstock Mark Thompson adrian.woodstock@cultivatetalent.co.uk mark.thompson@cultivatetalent.co.uk Tel: +44 (0) 7769 650960 Tel: +44 (0) 7917 305290