咨询管理战略组织项目麦肯锡工具评估 麦肯锡—McKinseyTalentStrAESC2001.pdf

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1、Talent strategies: Why are companies ill prepared?This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company, Inc. This material was used by McKi

2、nsey & Company, Inc. during an oral presentation; it is not a complete record of the discussion.Extracts from presentation given at AESC ConferenceDecember 2001Nicolaus Henke (London) & Bernd Uhe (Geneva)1Our messages today1) The war for talent is not about cyclical ups and downs, the basics havent

3、changed2) Talent imperatives are clear - but are companies acting?3) Deeply rooted road blocks, which however can be overcome 4) The executive search could be a key player to lead the transition21) The war for talent is not about cyclical ups and downsExecutive Search industry enjoyed exceptional gr

4、owth during the frenzied recruiting market in the late 1990sCooled economy caused hiring freezeHowever, fundamental trends are still in place: Long-term productivity growth trend Differential value of better talent is escalating in the knowledge economy Underlying trends such as demographics, mindse

5、t changes, or new working/employment models are drivers30.250.370.341.000.172.40.010.070.12Produc-tivity growth 1987-95Whole-sale tradeRetail trade (incl. rest-aurants)Security and com-modity brokers Telecom servicesElectronic and electric equipment (primarily semicon-ductors) Industrial equip-ment

6、(primarily com-puters)Net of 53 other sectorsProduc-tivity growth 1995-99Contribution to 1995 US productivity acceleration, CAGR, percentThe good news: long-term, productivity growth matters, not cyclesSource: McKinsey Research 20014Product, service, and process innovation continue to generate produ

7、ctivity growth1987199519992004CAGR95-99+2.4%CAGR87-95+1.0%CAGR99-04E+1.2%Productivity100%Percent, 1987 = 100%Source: McKinsey Research 2001500.511.522.5319451959197319872001*S&P 500: Market to asset replacement valueIncrease in Tobins Q ratioIntangible assets are an increasingly important source for

8、 value creationAverageSource: (estimate as of 15.10.2001)6The differential value of better talent is escalating in this knowledge economyIndustryDiminishing in relative performanceTalent and knowledge increasing in relative importance (examples)Pharma-ceuticalsAccess to capital, economies of scaleBe

9、tter insights/foresights on opportunities, superior innovation and marketing competencesPublishingPrinting equipmentQuick access to high quality news. Superior information creationRetailDistribution facilitiesExpertise in customer insights (e.g., preference data, segment demand)PetroleumPhysical ass

10、ets, access to capitalStrategic insights/foresights, e.g., in estimating segment potential and contractingBankingTransaction based feesAnalysis of complex data, meeting needs of increasingly sophisticated customers7Irreversible demographic trend shows that number of 35-45 years olds is shrinking in

11、countries with no significant offset apart from immigrationGrowing number of older people (50 years old) will work on a part-time, temporary or consulting basisDemo-graphicsWhat will drive the market for talent in the next decade (1/2)?Global mobility of talent, with tendency to becompany mobile but

12、 geographically loyalTechnology will strongly increase supply/demand transparency and fundamentally change how talent is bought/sold ( as tip of the iceberg)Inflow of young talent from developing worldMobilityFrom tenure in a job mindset to assignment mentality and personal growthMindset8Specialized

13、 knowledge as the competitive edgeTalent as the source of innovationManagerial jobs more challenging than ever based on cross-functional knowledge leadership requirements, technological pace, etc.KnowledgeIndividuals will become freer agents, working for themselves and will be bidding their services

14、 to attractive buyersIndividuals will not necessarily serve one employer as you do not only serve one clientNumber of full-time employees might significantly decreaseNew organization models like network based structures will support free agent modelWorking modelsWhat will drive the market for talent

15、 in the next decade (2/2)?9Implications for companies?We believe that 5 talent imperatives are critical1.Embrace a talent mindset2.Craft a winning employee value proposition3.Rebuild your recruiting strategy4.Weave development into your organization5.Differentiate and affirm your peopleSource: McKin

16、sey WFT Studies 200110Percent of all respondents who strongly or somewhat agreeOverall we have a strong talent pool in our Top 200 positionsOur company has enough talented managers to pursue all or most of its promising opportunitiesWe are confident that our current actions will lead to a stronger t

17、alent pool in the next three years18795737422) Companies clearly recognize the talent shortfall they face754451Strongly agree Somewhat agree Source: McKinsey WFT Studies 200111Business strategy should be linked to talent strategy but is it?Percent of corporate officers and senior executives who stro

18、ngly agreeImportant tolink business strategy to talent pool requirementsTheir company actually does this627Source: McKinsey WFT Studies 200112Recruiting19Development3Retention8Shifting C players3Identifying C players16Percentage of top 200 executives who strongly agree that their company is effectiv

19、e inBut are completely ill-prepared on the basics a snapshot23Deliver good EVPSource: McKinsey WFT Studies 200113Why do companies tend to overrate the quality of their talent pool?Performance distribution of Top 200 in annual reviewStarsStrugglersMeet all expectations8%7%43%40%2%Typical client examp

20、leLimited calibrationlimited actions despite tremendous consequences for the companyPerformance rating 2001Probable correct distributionSource: McKinsey WFT Studies 200114Of the employees surveyed who worked with an under-performer . . .“It made me want to leave the company” 86% “It prevented me fro

21、m making a larger contribution” 82% “It hurt my career development” 81% “It prevented me from learning” 76% However, required actions are rare:Our company is actively moving under-performers7% out of the company or into less critical rolesKeeping under-performers is very costlySource: McKinsey WFT S

22、tudies 200115118Recruiting: Why do most companies merely try to fill positions?Percent of all respondents who strongly agreeWe have enough talented managers to substantially increase our performance relative to competitorsCompany always looks for talent, even without concrete openingsWhile talent ne

23、eds seem to be obvious most companies seem to recruit only when they have an openingSource: McKinsey WFT Studies 200116Believe this philosophyPercentage of corporate officers who strongly agreeThink their companiesactually do thisShould line managers be accountable for the quality of their people?78

24、7Missing accountability for peopleSource: McKinsey WFT Studies 200117Products and budgets have priority over peopleDifficulty to give negative feedback (self-protection, no language, etc.)StrategyBehaviorSystems3) Deeply rooted road blocks No urgency, since true economic impact of talent not transpa

25、rentHesitation to make big strategic choices for talent reasons (e.g., location)Lemmings behaviorLonger-term talent plan unknown conceptLow incentives to attract and develop peoplePotential longer time to impact (e.g., talent development actions)Source: McKinsey WFT Studies 200118Understand/measure

26、alignment (e.g., with McKinsey myworkplace tool)Leadership signals and movesMake every executive search for great talent all the timeStrategyBehaviorSystemsSome potential actionsAssess the talent gapDevelop talent strategyPick your battlesConsider tough choices (e.g., re-location, enter/leave busine

27、sses for talent reasons)Measure talent economicsChange incentivesSource: McKinsey 2001 (WFT Studies)194) The executive search industry could be a key player to lead the transitionCan you be the key thought partner to CEOs to find answers on: Knowing for all key jobs what a gold standard looks like L

28、ooking beyond people who have done exactly the same job before Diagnosing and help change job specific EVPs Helping to move on C performers Improving their recruiting processes Measuring talent economicsShould you invest more to: Define what the gold standard in specific jobs looks like Proactively spot the top decile value creators, More actively propose bench improvements to your clients?What is the opportunity to build a business to know and and be the agent of the top decile value creators in pivotal professions?