Best Practices in Talent Management: How the World's Leading Corporations Manage, Develop, and Retain Top Talent

338 Pages·2009·3.47 MB·English

by  Marshall Goldsmith

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PRAISE FOR BEST PRACTICES IN TALENT MANAGEMENT
“Many times when one reads about best practices from other organizations, the writing
misses a critical and necessary foundation required for the content to be meaningful
and relevant. In this book, Carter and Goldsmith bring a valuable contribution and that
is to ask their readers to step back and consider their own context fi rst and then determine
how any of these outstanding talent management actions can make a difference in
their particular organization. By culling for the principles behind the choices made,
the stories revealed in these outstanding cases, the reader gains insight and practical
advice.”
-Teresa Roche, vice president and chief learning offi cer
Agilent Technologies
“This century, talent management will contribute to shareholder value creation more
than any other organizational discipline. However, it remains an elusive concept. This
book brings value to any CEO or HR leader by providing specifi c examples of effective
talent management.”
-Geoff Smart, CEO of ghSMART, and co-author of the
New York Times bestseller Who: The A Method for Hiring.
“Good story-telling is part art and part science. Louis Carter knows that and he shows
this knowledge by his ability to gather an array of critical stories about organizations
who have heeded the wake-up call to take action in the critical arena of talent management.
My hat is off to the Best Practice Institute—this book lives up to its name!”
-Beverly Kaye, Founder/CEO: Career Systems International,
co-author, Love ‘Em or Lose ‘Em: Getting Good People to Stay
“As a long-standing business philosopher, I look for depth, foundations, root causes,
and lasting answers; for that, facts, information, experiences and testing—and a solid
data base—are essential. The compendium I needed I found here—and so will you!”
-Peter Koestenbaum
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About This Book
The purpose of this best practices handbook is to provide you with the most current and
necessary elements and practical “how-to” advice on how to implement a best practice tal-
ent management program within your organization. The handbook was created to provide
you with a current 21st century snapshot of the world of talent management today. It serves
as a learning ground for organization and social systems of all sizes and types to begin
attracting, retaining, and motivating top talent through more employee- and customer-
centered programs that emphasize consensus building; self-, group, organizational, and
one-on-one awareness and effective communication; clear connections to overall business
objectives; and quantifi able business results. Contributing organizations in this book are
widely recognized as among the best in organization change and leadership development
today. They provide invaluable lessons in succeeding during crisis or growth modes and
economies. As best practice organizational champions, they share many similar attributes,
including openness to learning and collaboration, humility, innovation and creativity, integ-
rity, a high regard for people’s needs and perspectives, and a passion for change. Most of all,
these are the organizations that have invested in human capital, the most important asset
inside of organizations today. And these are the organizations that have spent on average
$1M on talent management, an average of $2M over the course of their programs, with an
average rate of return on investment of over $5M.
Within the forthcoming chapters, you will learn from our world’s best organizations
in various industries and sizes:
Key elements of leading successful, results-driven talent management;
Tools, models, instruments, and strategies for leading talent management;
Practical “how-to” approaches to diagnosing, assessing, designing, implementing,
coaching, following-up on, and evaluating talent management; and
Critical Success Factors and Critical Failure Factors, among others.
Within each case study in this book, you will learn how to:
1. Analyze the need for the specifi c talent management program;
2. Build a business case for talent management;
3. Identify the audience for the program;
4. Design the program;
5. Implement the design for the program; and
6. Evaluate the effectiveness of the program.
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BEST
PRACTICES
IN TALENT
MANAGEMENT
How the World’s Leading
Corporations Manage,
Develop, and Retain
Top Talent
M A R S H A L L G O L D S M I T H A N D
L O U I S C A RT E R , E D I T O R S
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Copyright © 2010 by John Wiley & Sons, Inc. All Rights Reserved.
Published by Pfeiffer
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Library of Congress Cataloging-in-Publication Data
Best practices in talent management: how the world’s leading corporations manage, develop, and
retain top talent / Marshall Goldsmith and Louis Carter, editors.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-470-49961-0 (cloth)
1. Executives—Training of. 2. Executive ability. 3. Leadership. 4. Employee
retention. I. Goldsmith, Marshall. II. Carter, Louis.
HD30.4.B483 2010
658.4'07124—dc22
2009036634
Acquiring Editor: Matthew Davis Director of Development: Kathleen Dolan Davies
Production Editor: Dawn Kilgore Editor: Rebecca Taff
Editorial Assistant: Lindsay Morton Manufacturing Supervisor: Becky Morgan
Printed in the United States of America Printing 10 9 8 7 6 5 4 3 2 1
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For Crissy
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CONTENTS
Introduction, by Louis Carter xiii
Acknowledgments xxvii
How to Use This Book xxix
CHAPTER ONE: AVON PRODUCTS, INC., BY MARC EFFRON 1
Introduction 2
A Success-Driven Challenge 2
The Turnaround 3
The Talent Challenge 3
Execute on the “What,” Differentiate with “How” 4
From Opaque to Transparent 5
From Complex to Simple 7
From Egalitarian to Differentiated 10
From Episodic to Disciplined 11
From Emotional to Factual 12
From Meaningless to Consequential 13
The Results of a Talent Turnaround 14
Measuring the Talent Turnaround’s Success 15
CHAPTER TWO: BANK OF AMERICA, BY BRIAN FISHEL
AND JAY CONGER 17
Introduction 18
Leadership Development Activities for Executive Leaders 21
Lessons for Designing On-Boarding for Executive Leaders 32
CHAPTER THREE: CORNING INCORPORATED, BY
RICHARD A. O’LEARY, GARY JUSELA, AND HEATH N. TOPPER 36
Introduction 37
vii
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viii
Contents
The Business Case for the Accelerated Development
of Corning Program Managers 40
The Design Flow: Two Weeks of Experiential Learning
with an Interim Period of Coaching and Mentoring 48
Outcomes and Next Steps for Growing the Talent
Pipeline of Program Leaders 56
Next Steps 57
CHAPTER FOUR: CUSTOMER AND ENTERPRISE SERVICES
(CES) DIVISION, BY MICHAEL SCHECTER, JOHN PARKER,
AND JUDY ZAUCHA 60
Business Background and Challenges 61
The Roots of the CES Transformation: Leadership and Process 62
Diagnosing and Designing the Whole System Transformation:
The Leadership Alignment Event 68
Implementing the Whole System Transformation: The Waves 71
Supporting and Reinforcing the Whole System Transformation 77
Evaluation of the CES Whole System Transformation 82
CHAPTER FIVE: ECOLAB, INC., BY ROBERT C. BARNETT,
MICHAEL L. MEYER, SARAH J. MURPHY, AND SUSAN
M. METCALF 84
Introduction 85
Company Background 85
Ecolab’s 2002–2007 Strategic Plan 85
Culture Is Critical 87
Ecolab’s Talent Management Philosophy 88
The Ecolab Talent Pipeline 90
The Importance of Individual Development 90
Introducing the Talent Pipeline Model at Ecolab 95
Supporting Successful Implementation 95
Keeping the Pipeline Full 98
Results 100
Conclusion 101
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