JUNE 2013 The Online Executive News for Corporate Leaders

InTunewiththeLocal ConnectedtotheWorld

73 offices in 46 countries

T hebusinessworldismoredynamictodaythaneverbeforewithanacceleratingpaceofnewtechnologies,increasingglobalizationofmarketsandincreasinglycommonplacemergers,acquisitionsanddivestitures.Inthistumultuous

environment,organizationsmustcontinuallyrenewtheircapabilitytoachievecompetitiveadvantage.However,it is challenging to find the talent needed to compete in this dynamic business environment.

Theavailabilityofeducated,working-agetalentisshrinkinginmanyoftheworld’slabormarkets(Zolli,2007).Multinationalcompaniesaremovingworktodevelopinglower-costcountries,onlytofindthetalentwarsandwagessubsequentlyescalatingthere.Skilledleaderswiththecapabilitiestoenternewmarkets,createnewbusinessmodelsandinnovatenewtechnologies,arehighlysoughtafter.Consequently the demand for talent is outstripping the supply. As a result, top performers in key talent pools typically have multiple employment opportunities at any point in time.Thissetofcomplex,changingbusinessandtalentrealitiescreatestheimperativeforcompaniestofocusontalentinastrategic,systemicandcustomizedmanner.Gettingsomeoneinterestedinyourorganizationisthefirststepinattractingandretainingtoptalent.Inrecentyears,thephrase“the war for talent” hasbeenusedmostofteninconversationsaboutthechallengesofretainingtalent.Youhavetoovercomethetoughestchallenge,theoneofacquiringtalent.Withretention,youhave“familiarity”onyourside.Inacquisitions,the unknowncanbefrightening.Therearesixstepsto

creatingandcommunicatingacompellingargumentthattoptalentcannotignore:(Silzer,Dowell2010).

Enjoy your reading,Nancy MathioudakiPartner & Global FMCG sector leader

Detailingtheemploymentbrandintoatalentbrandandaleadershipbrandthatclearly

articulatethecaliberoftalentandleadershipsworkingforyour

organization.

4Capturingtheemployment

valuepropositioninamemorable

employmentbrandthatstates

simplywhatmakesyour

companyagreatchoice.

3Creatingacompelling

employmentvalueproposition

thatclearlyarticulateswhat

isdifferentaboutyourorganization

versusotherorganizations.

2Identifyingthetalent

acquisitionstrategythat

bestsupportsyourbusinessstrategyandwillresultin

meetingyourtalentneeds.

1

Measuringyoursuccess.

Determiningthemostproductive

channelstothetalentyouwanttosee.

Many thanks to all the contributors of this issue for their insights and to all survey respondents for their time…

Contentsp1 Editorial

p2,3 FirstTalentManagementSurvey

p4Buildingagreatcultureandcreatingtheconditionsforpeopletosucceedareattheheartofourvalue“CaringforourPeople”

p5 Hiringforfitanddevelopingforskills

p6, 7 Istalentmanagementwithinyourcompanyseenasakeyorganizationalobjectivewhichdrivesandenableshighperformance?

p8, 9 Talentidentification:aCorporateCultureoraManagementSystem

p10 WhicharetheTalentManagementsuccessfactors?

p11 Isstrategy-drivenTalentManagementaleadershipimperative?

p11 IstalentNaturalorDeveloped?

p12 WhicharetheTalentManagementsuccessfactors?

p13 IsTalentdifficulttofindnowadays?

p13 Istalentmanagementwithinyourcompanyseenasakey

organizationalobjectivewhichdrivesandenableshighperformance?

p14 MatchingExecutiveTalenttoBusinessStrategy

p15 Thenearfuturewillbringmorequalifiedcandidates

p16 QualityofExternalTalentLeadstoanIncreasedFocusontheDevelopmentof

InternalTalent

Facingtheunprecedentedchangesinthefinancialandcorporateenvironmentaswellastheincreasingpaceofchangeintechnology,organizationsandtheirleadersareundertremendouspressuretogetthetalentequationright.

WithinthiscontextweareproudtopresentthethoroughanalysisandresultsofanonlinesurveyinwhichHRDirectors,HRManagersandSeniorHRprofilesacrossindustriesparticipated.

Inthesurvey106Executivesparticipated;theageofthemajorityofrespondentsrangesfrom40to49.Ofthe106participants,78%comefromMultinationalcompaniesand22%fromGreekcompanies.Regardingtheirmarketsector,27%comefromConsumerproductsandServicescompanies,16.9%fromRetailindustry,12%fromIndustrialcompaniesand12%fromPharmaceutical&FinancialServicescompanies.

FirstTalent Management Survey byStantonChaseAthens

In March and April 2013 Stanton Chase Athens through a survey to Senior HR Executives shed light on one of the important issues concerning all organizations: the “Strategy-Driven Talent Management”. Talent management is arguably one of the most important topic areas in organizations today. Talent is becoming recognized as a core competitive asset in business organizations and as the currency of business.

35.85%

33.02%

35.85%

48.11%

59.43%

48.11%

36.79%

12.26%

8.49%

40.57%

33.02%

17.92%

0%

7.55%

51.89%

30.19%

10.38%

0%

38

35

38

51

63

51

39

13

9

43

35

19

0

843

55

32

11

0

Recruitment

Retention

Professional development

Leadership

High potential developmentPerformance

mamagementFeedback and measurement

Workforce planning

Strongly Disagree

Disagree

Agree

Strongly Agree

I don’t know

Strongly Disagree

Disagree

Agree

Strongly Agree

I don’t know

Responses

Responses

AnswerChoices

AnswerChoices

The vast majority of participants (54.72%) believe that nowadays Strategy-Driven

Talent Management is a leadership imperative. From a list of components

of talent management, the participants pointed out the High potential

development as the most important component (59.43%), Leadership

ranks as the next key component (48.11%) followed by Performance

Management (48.11%).0% 20% 40% 60% 80% 100%

0% 20% 40% 60% 80% 100%

0% 20% 40% 60% 80% 100%

Is talent difficult to retain in time of crisis?Answered:106Skipped:0

Is talent difficult to find in corporations during a period of crisis?Answered:106Skipped:0

Which are the key components of talent management?Tickthe3mostimportantAnswered:106Skipped:0

35.85%

33.02%

35.85%

48.11%

59.43%

48.11%

36.79%

12.26%

Regarding their personal insight about how easy or difficult it is to find a talent in a period of crisis, there is a strong debate.

51% of the participants believe that it is difficult to find it and

49% that it is easy. The same debate also appears in the part of discussion for

retention of the talent in a period of crisis. 41% of the participants agree that it is

difficult to retain talent and 59% disagree.

Senior Executives pointed out that the most critical challenges their organization will face over the next years will be cost pressure (62%) and the insufficient

leadership talent (44%). Also the challenge of the increased competition is ranking high on the list (39%). The majority of the participants (60%) considered as a critical challenge the fact that they have to meet the changing expectation of the next generation employees as well as the business growth

expectations (55%).

40.79% 31

19.54% 17

31.25% 25

55.41% 41

2.06% 2

31.71% 26

7.87% 7

15% 12

29.87% 23

19.18% 14

39.47% 30

41.38% 36

42.50% 34

21.62% 16

36.08% 35

37.80% 31

55.06% 49

41.25% 33

45.45% 35

60.27% 44

19.74% 15

39.08% 34

26.25% 21

22.97% 17

61.86% 60

30.49% 25

37.08% 33

43.75% 35

24.68% 19

20.55% 15

76

87

80

74

97

82

89

80

77

73

Does the work of HR reinforce your talent strategy?Answered:106Skipped:0

0% 20% 40% 60% 80% 100%

Less critical

Critical

Most critical

TotalLesscritical Critical Mostcritical

Changes in technology

Increased competition

Expansion into new markets

Globalization

Cost pressures

Regulatory environment

Business growth expectations

Insufficient leadership talent

Insufficient talent at other levels

Meeting changing expectations of next

generation employees

1.89%

6.60%

50%

41.51%

0%

2

7

53

44

0

Strongly Disagree

Disagree

Agree

Strongly Agree

I don’t know

ResponsesAnswerChoicesThe majority of the participants agree that HR plays an important role in the reinforcement of talent management.

69% of the participants believe that primarily the Senior Managers have

a strong decision in the company’s

approach to Talent Management. Next in ranking -but with a significant

percentage of 52%- comes the HR

function. Organizations are beginning to understand the strategic value of talent

and the impact that strong talent can have on financial outcomes. This represents a

major shift in how business executives view the value of Human Resources.

0% 20% 40% 60% 80% 100%

Does the work of HR reinforce your talent strategy?Answered:106Skipped:0

68.87%

9.43%

9.43%

51.89%

24.53%

73

10

10

55

26

Senior Managers

Middle Managers

Front line Managers

HR function

All the above

0% 20% 40% 60% 80% 100%

Which levels of seniority have a strong decision in the company’s approach to talent management?

Answered:106Skipped:0

3ExecutiveNewswire 06/13

Dimitris BourandasProfessor of Human Resources Management

Director of the Executive MBA & Co-Director of Msc in Human Resources Management

THE ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS

Experience: 1992-Today: Consultant and Trainer for many private and public firms (National Bank of Greece, Tasty Foods, PEPSICO, Nestlé, Unilever, SAP, Diageo, Coca-Cola, Vodafone, Carrefour, Marks & Spencer, Citibank, BAT, Schneider Electric, Jansen, IKEA, L’ Oréal, Bayer, Henkel, etc.)

Itisbeyonddoubtthathumancapital,asafunctionofintellectual,emotionalandsocialcapital,isthemostcriticalstrategicresourceforeveryorganization.

Especially,today,whenthemodernorganizationalconditionsarecharacterizedbyconstantchange,speed,uncertainty,complexityandintensecompetition,thecreativeideas,theinitiatives,themotivation,thecommitment,thepassionofpeoplebothasindividualsandasteammembersarethoughtofasthemainfactorsthatdeterminetheefficiency,theeffectiveness,thecompetitiveadvantageandthesustainingsuccessofanorganisation.

Asfollows,theselection,retention,development,promotionandrewardingofpeopleareconsideredasimportantpolicyissuesandsystemsforeveryorganization,mostcommonlyaddressedthroughthetermtalent management.

Researchshowsthatthebasisofeffective“talentmanagement”istoidentifycomponentsofthe“talent”foranyorganization.Theterm“talent”literallysignifiesthosepeoplewhostandoutduetotheiruniqueabilities.Butthisdefinitionfallsshortwhenitcomestoensureefficiency,effectivenessandsustainingbusinesssuccess.Thehumancapitalrequires“Therightpeople”.“Theprofessional,themanagerialandtheleadership”,”talent”or“skills”areonlyonecomponentoftherightpeople.

Infact,experiencevalidatedbyresearchdataindicatesthatapartfromthat,wemusttakeintoaccounttwoequallyimportantcomponents:

First,animportantelementoftherightpeopleisselfmotivation,thedrive,andthegrit,i.e.,thepassion,focusandcommitmenttoachievedifficultgoalsandexceptionalperformance.JimCollinsinhisbestsellerbook“GoodtoGreat”arguesthatifcompanieshavepeoplewhoneedmotivation,thentheyemploythewrongpeople.Therightpeoplearethosewhoareselfmotivated.Besides,thestudiesoncreativeandinnovativethinkingagreethatthecriticalsuccessfactorismotivationandnotthebrainintelligence.

Thesecondcharacteristicofthe right man canbeexpressedbythequote“hiringforfitanddevelopingforskills”.

Inotherwords,therightmanistheonewiththecharacteristicsandvaluesthatmatchtheculture,

visionandstrategiesoftheorganization.Indeed,thetaskofchangingthecharacterisverydifficult.

However,whenthereisthewillattherightcharacter,itbecomeseasytodevelopthe

necessaryskillsandcompetencies.Besides,nowadays,findingpeoplewithhigh-level

educationandskillsisfarfromscarce.Inanutshell,thechallengefor“talent

management”istomakesurethat“therightpeople”displaythethree

aforementionedcharacteristicswhichareconsideredessentialforthedevelopmentofhumancapital.

Hiring for fit and developing for skills

The right people

GRIT

CHARACTER SKILLS

Coca-ColaTriaEpsilonwasfoundedin1969inGreece.Today,itistheonlyGreekCompanyintheFoodandSectorIndustrythatoperatesin4productionunitsandin4differentprefecturesacrossGreece.Thecompanyemploysapproximately2,000people,whileitgenerates42,000jobpositionseitherdirectlyorindirectly.

Talent management enables high performance Buildingagreat culture andcreatingtheconditions for people to succeed personallyandprofessionallyareattheheartofourvalue“Caring for our People”.CreatingtherightcultureandbeingaGreatPlacetoworkallowsustocopewithchallengingmarketconditionsandalsomeetandexceedtheexpectationsofcustomers,consumers,stakeholdersandsociety,atlarge.

Talentmanagementisessentialinbuildingastrongandsuccessfulorganization-rightpeopleintherightpositions-andnecessaryforachievingourbusinessstrategy.HRworkstogetherwithLineManagerstodevelop reliable and consistent internal sources of talent-talentpools-thatfueltheorganizationwithour future leaders.

Tothisspirit,Coca-ColaTriaEpsilonhasdesignedthe“GraduateTraineeProgram”.Since1990,ourcompanyhiresyounggraduateswithlimitedworkexperience.TheprogramoffersGraduatesopportunitiestoworkinseveralprojects,refinetheirskillsanddrivetheirleadershipcapabilitytogetherwithfantasticexposureandsupportfromourseniorleaders.Thisisagreatopportunityforyoungpeopletogrowtheirlongtermcareer.

Our people are core to our successInCoca-ColaTriaEpsilon,westronglybelievethatour business success depends every day on our employees.Thepride,passionandenergyofourpeoplearewhatmakeourcompanyspecialalongsidewithastrongsetofvalues-Authenticity,Excellence,Learning,Caringforourpeople,Performingasone,WinningwithCustomers-thatunderpinseverythingwedo.Ourwinning performance culture isdrivenbyourcommitmenttodevelopingandsupportingpeopleintheirprofessionalandpersonalgrowth.

“Caring for our People”

Yiolanda KourasmenakiCountry HR Director

Coca-Cola Tria Epsilon

Buildingagreatcultureandcreatingtheconditionsforpeopletosucceedareattheheartofourvalue

5ExecutiveNewswire 06/13

Largeformatrecessionhasbeena

growinginternationaltrendincorporatesectoroverthe

lastyears,soLGElectronics,duringtherecession,is

focusingi)toidentifytherealkeyemployeesandtointact

themintheorganizationii)toidentifytherealtop

potentialsandtostrengthentheirdevelopmentprogram

iii)toidentifytherealkeyemployeesandtokeepthemin

theorganization.Keyemployeeswithhighperformancehelpthe

organizationinminimizingadditionalcostsandaccomplishtheirtaskssuccessfully.

Educationcostshavebeedreduceddramatically,howeverLGELearningCenters

havestrengthenedtheirexistence,offeringspecializedtrainingsessionsandintroducingnew

courses.Thelandscapeattheothersideofthisrecessionwilllookverydifferentandtheworkforce

willneedtolookdifferent.Highpotentialscanalsoconsistthepost-recession

generationworkforcewhichwillbetheengineforthegrowthinthefuture.

InBPweconsidertalentmanage-

menttobeakeyfactorofthecompany’sgrowthandprosperity,enablingustodevelopandsustainastrongpipelineofleadersacrosstheglobetoensureongoingsuccess.

InordertodosowehavecarefullydesignedproceduressuchasPerformanceandBehavioral

Reviewswithtransparentcriteria,aswellasCoachingandTraining-allunderaD&I

lens-thatunifytalentmanagementbyusingcommonlanguageandtools.TheCAPs

Program(CareerAccelerationProgram)providesaconsistentandrobustframeworkinordertoassessanddevelopindividualswiththegreatestpotentialtoprogresstoseniorrolesintheorganization,whileSuccessionplanningidentifiesqualifiedfuturecandidates

fordefinedrolesorgroupsofroles.

Alltheseenableustoidentify,assessandtakeactiontomaximizepeople’spotentialandmanage

keytalentpoolsandpipelines,alsoresultinginagloballyconsistentapproachtotalentmanagement

whileensuringmeritocracy.

Afterall,ourtalentedpeoplearethefutureofourcompany.

Effectiveexecutionoftalentdevelopmentdirectlycontributestoincreasedorganizationaleffectivenessandprofitability,leadingup

toasmuchas15%improvementintotalshareholderreturn(CorporateLeadershipCouncil,2012).

AtPfizer,webelieveourorganizationalandtalentcapabilitiesarestrategicassetsrequiringexecutiveandbusinessfocus.Thesearetworelatedtermsoftenusedinterchangeably,howevertheyhavedifferentdefinitions.

WeconsiderTalentManagementtobeavitalbusinessprocessinwhichmanagersandtheirleadershipteamsdiscusscolleaguesbasedontheirbroadercareertrajectoryandcapacityforadditionalbusinessresponsibilities.

TalentManagementfocusesontheroleofleadersindevelopingtheworkforcetoassumefuturerolesandassignments

requiredtomeetPfizer’sstrategicbusinessneedsandorganizationalimperatives.Whiletalentmanagement

includeskeydevelopmentalprocesseslikecareerplanninganddevelopmentplanning,akeycomponentoftalent

managementisthetalentplanningprocesswhichengagesPfizer’sFourthImperative:CreatinganOwnershipCulture.

TalentPlanningisaPfizerprocessinwhichmanagersandtheirleadershipteamassesscolleaguepotential,calibrateassessmentresults,andcreateandexecutedevelopmentplansinordertobuildorganizationalcapability.

AtPfizer,weconsiderTalentPlanningtobeavitalpartofTalentManagement.

Filio MakriCountry HR Manager &

Regional Partner Lubricants E&A BP

Oil Hellenic

Retailisessentiallyapeoplebusinessandoursuccessrestspredominantlyuponthequalityofourpeople.

Inthiscontext,theroleofeffectivetalentmanagementfortheimplementationofourstrategyturnsouttobequiteimportant.WeapproachTalentManagementasanintegratedprocesswhichisbasedonthreemainpillars:Source,BuildandKeepthetalent.

ThedownturnoftheeconomyandtheconsequentcrisisinthemarketplaceincreasethenumberofhighpotentialprofessionalswhocanbeattractedbyABbut,beyondthat,westronglysupportthedevelopmentofatalentmanagementculturewithintheOrganizationbyincentivizingourleaderstoidentifyanddeveloptalentintheirteams.Ontheotherhand,weexploitalltheresourceswehave,toreinforcetheaccelerationoftalentdevelopment.Apartfromthedesignanddeliveryofthetalentdevelopmentprogramsforemployeesandexecutives,wefocusoninvolvingourtalentsininterdepartmentalassignmentsandplacethemasquicklyaspossibleinmanagementroles.

Inconclusion,adaptinginthecomplexityandthewidespreadchangesoftheorganizationalenvironmentmeansthat

wehavetocreateandmaintainalignmentbetweenourTalentManagementStrategyand

BusinessPlanning,soastohelpourtalentstobetransformedfromindividualperformerstoenterprisecontributors,creatingahighperformanceorganization.

Dimitris ArtikopoulosVP HR Organizational DevelopmentAB VASSILOPOULOS/DELHAIZE GROUP

Barbara PanagopoulouHR Director - Heineken Athenian Brewery

Talentmanagement,whilewasoncesolelyattachedtorecruitment,isnowadaysanessentialmanagementpractice

thatcoversamultitudeofareasandpracticesthatsupporthighperformance.

InAthenianBreweryweapproachtalentmanagementfromastrategyperspectiveratherthananisolatedpractice(embeddedwiththoroughprocessesofemployeerecruitmentandselection,

self-assessments,360oreviews,developmentplansetc.).Talentmanagementforusismorethanaprocessfordocumentinganddeliveringfeedback.Whenexpandedbeyondthebasics,itbecomesapowerfultoolforhelpingemployeestofurtherdevelopandachievefullpotential.Indoingso,employeesincreasetheirvalueandhelpdriveorganizationalsuccess.

Hence,AthenianBreweryconsiderstalentmanagementasalong-termcommitmentandanorganizationalobjectiveor,inotherwords,alongtermjourneytowardsconsistentlyhigherlevelsofperformanceefficiencyinaconstantlychangingbusinessenvironment.

Finally,havingastrongtalentmanagementculturealsodetermineshowemployeesratetheirorganizationasaworkplace.Ifemployeesarepositiveabouttheirorganization’s

practices,theyaremorelikelytohaveconfidenceinthefutureoftheirorganization.Theresultisaworkforcethatismorecommittedandengaged,determinedtooutperformcompetitionandensurealeadingpositioninthemarket.

Irene PaganopoulouHR Director Pfizer Pharmaceuticals

which drives and enables high performance?

Oneofthebiggestrisksthatmanyorganizationsfaceistohave

therightpeopleintherightpositionthatwillenablethemcreatelong-termorganizationalsuccess.Identifying,developingandretainingthehighperformingandhighpotentialemployeesisessentialfortheorganization’sfuturegrowth.Itisanever-endingcourseofactionthatrequirescontinuouseffort.

Toachievesuccessinbusiness,themostimportantthingistorecognizethetalent,inalllevels,thatcanaccompanytheorganizationinachievingitsgoals.TalentManagementinorganizationsisnotjustlimitedtoattractingthebestpeoplebutitisacontinuousprocessthatalsoinvolvessourcing,hiring,exploringthehiddenqualities,developing,retainingandpromotingthemtomeettheorganization’srequirements.

ForMerck,talentmanagementiscrucialinordertofosteroutstandingbusinessandorganizationalperformanceinaccordancewiththeCompany’scultureandvalues.Forthisreason,certainprocesses&toolshavebeendevelopedinordertohelpusidentifythetalentswithinourorganizationandfitthemattherightplace.

Anastasios TsoumanisHR & GA Senior Manager LG Electronics Hellas

Nowadays,thatresourcesarelimitedandcosteffectivenessismoreimportantthanever,havingtalentedpeopleinyourorganizationisacrucialfactor.Butjusthavingtalentsisnotalwaysenough,astalentedpeopleshouldbedevelopedandmotivatedinordertobeproductiveandretained.

Athellasonline,talentmanagementisakeyorganizationalobjective.Weassesstalents,tryingtoidentifythedesirableskills,usingvariousevaluations,including

performanceappraisals,360οfeedbackandcompetencybasedinterviews.Inthelastcoupleofyears,wehavecreatedamultileveltalentteam,withmembersfrom

allcompany’sdepartments.Ourfocusisonthecustomeroperationsandtelesalesteams,wheremostlyyoungandhighlyeducatedpeoplewhomanageourcustomers,

seeknewopportunities,throughapromotionoranewpositionthatbettermatchestheireducationalbackgroundandgoals.Infact,most

ofhellasonline’snewpositionopeningsarecoveredinternally.

Ourobjectiveregardingtalentmanagementisandcontinuestobetheempowerment,supportandrewardingofourpeople,offeringthemopportunitiesforinternaldevelopmentandtrainingthroughprogramssuchastheMiniMBA,whichranforabout60highperformersandtalentedpeople.Evenunderdifficultcircumstances,westrivetocontinueourgrowthasacompanyandretainourtalents.

TalentmanagementisincorporatedintotheDNAofourorganizationthroughprocesses

thatenableidentifying,developingandengagingourtalents.

Talentisidentifiedthroughstructuredprocessesthatareembeddedinourperformancemanage-mentsystemandcompanyculture.Operatingmechanisms,suchasself-assessment,countryreviewsandsharedtalentinventories,enableustorecognizeemployeeswithrareskills,expertiseorwiththepotentialtogrow.

Talentisdevelopedthroughbusinessdrivendevelopmentactions,linkedtosuccessionplanningforcriticalandleadershiproles.Thegapsinexperienceandcompetencies,identifiedinthesuccessionprofiles,areaddressedbyindividualdevelopmentplans,proactiveexperiences,coachingandtrainingthatstimulatecontinuousimprovementofexistingcapabilitiesandensurereadinessforfutureroles.

Talentisengagedthroughopencommunication,recognition,reward,care,trustandrespect.Talentengagementiscrucialinmaximizingcontributionandintenttostay,makingemployeesfeelpartoftheorganizationandgoingaboveandbeyondtoachievetheirgoals.Ourengagementinitiativesfocusonkeyindividualmotivatorsofemployees,aligningmaximumjobsatisfactiontomaximumjobcontribution.

Thus,throughtheseintegratedprocesses,highperformanceisbasedoncontinuousgrowthandmotivationofourtalents.Investmentinourtalentisinvestmentinourgrowth!

Miranda Chatziioannou HR Manager MDX Eastern Europe

GE Healthcare

Eddy GerekosHuman Resources Director Hellas online

Is talent management

within your company

seen as a key

organizational objective

which drives and enables high performance?

7ExecutiveNewswire 06/13

Aphrodite SiokouHuman Resources Manager

Merck Hellas

Dimitris Papanikitopoulos,President, Linkage GreeceDimitris has been accredited by Linkage Inc. as a Professional Coach and he has consulted as a Personal Coach with more than 25 senior leaders in the Greek market from a variety of business sectors on topics as talent management, career planning, leadership development, attitude change. He is certified in numerous Leadership and Team Assessment Tools, including Leadership Assessment Instrument, Thomas & FACET Personality Tests, 360 Executive View. He has participated as a lecturer and coordinator in more than 30 Conferences and has experience of more than 1,500 days of training. He is a member of the Association of Chief Executive Officers (Ε.Α.Σ.Ε.) for the last 10 years. He is also the Secretary General of the Board of Directors of the Greek Institute of Sales (Ι.Π.Ε.) and finally an Honorable Member of the Board of the Greek Institute of Customer Service (Ε.Ι.Ε.Π.) for which he was the General Secretary for two years, a member of the Consulting Committee of the Hellenic Association of Management Consulting Firms (Σ.Ε.Σ.Μ.Α.).

Dimitris has graduated from the University of Piraeus, Greece and from London School of Economics, UK.

Managementofthecompanytakingintoconsiderationallimportantaspectsthatdrawtheeffectiveness&efficiencyofan

employee,suchasperformanceappraisals,competenciesandleadershipskills.

Allthesesignificantelementsprovideaveryusefulinsightaboutboththeperformanceandthepotentialofanemployee,

whichenablesthecompanytoidentifytheirTalents.AstheidentificationisonlythefirststepofaTalentManagement

System,thefollowingstepsneedtofocusonidentifyingandassessingthedevelopmentneedsoftheirTalents,through

adevelopmentcenterapproachandtheuseofBusinessSimulations.AfteridentifyingtheirTalents,theOrganizations

needtobuildtheircapabilitiesbyprovidingthemtrainingsandactivelyinvolvethemindifficultanddemandingprojects.

OnlybytakingtheresponsibilityoftoughdecisionsandbyjoiningSeniorTeammeetingstheTalentswillreachahigher

levelofsatisfactionwhichinturnwillachievetheincreaseoftheirretentionrates.

Organizationsinourdayshavestartedtorealizethatthesuccessfulwaytoovercome

challengesandexploitopportunitiesisthroughtheirTalents,appreciatingthatthesearethe

mostimportantandreliableassetofacompany.Itisourstrongbeliefthattoday,morethan

everbefore,organizationsneedtofocusontheirpeopleanddemonstratetrusttotheirhigh

potentialmembers.Theconceptofthe“WarofTalents”hasbeendevelopedsincetheearly

90’s,howeveritisnowthetimethatcompaniesreallyneedtoinvestinit!

Take care of our passionate champions

?????????????????????????????????????

AneffectiveTalentManagementSystemiscriticaltothelong-termsuccessofanyorganization.It

willbuildsustainablecompetitiveadvantageforthoseorganizationsthattakethetimeandefforttodesign

andimplementthesysteminaconsistentmanner.TheTalentManagementSystemneedstobeembeddedinthe

organization’sstrategyandtoserveeffectivelytheorganization’sgoals.

DevelopingTalentisalong-termstrategicgoal,thereforetheTalentManagementSystemneedstobedesignedtomeet

thefutureneedsoftheorganizationandnotjustthoseassociatedwithitscurrentsuccess.

AsystematicapproachtoTalentManagementisbasedonfourstrategicconsiderationsthatarethesuccessfactorsof

thesystem:

Nowadays,asignificantnumberoforganizationshave

realizedtheneedtoworkontheirTalentsandidentify

themembersoftheirstaffthathavetheabilityto

acceleratetheorganizationduringthecrisisinorder

togetpreparedforthenextday.Thequestionthat

liesamongCEOsandHRprofessionalsis“areTalents

easytofindnowadays”?Theansweris“Yes,ifyouare

readyandwillingtofindthem”.Theidentificationof

talentsisnotastraightforwardprocessandrequires

thedevelopmentofawell-structuredandsoundTalent

ManagementSystemthatenablestoidentifythe

Talentsamonghighperformers.

InLinkage,weworkwithleadersandleadershipteamsworldwidetobuildorganizationsthatproducesuperior

resultsandwithmanycompaniesthatexpresstheirneedtoidentifythoseTalentsthathavea“willtowin”attitudeand

deliverresultsataveryhighlevelofquality.Weusuallycallthemthe“PassionateChampions”andwefocusoureffortsin

identifyingthemforthecriticalpositionsofacompany.Thisisaccomplishedincooperationandfullalignmentwiththe

The corporate world today is going through challenging times. The companies’ resources are becoming limited and

the markets are more cautious. The companies are now realizing that in order to survive and succeed, they need to be

in a position to identify their Talents and develop an effective Talent Management System that attracts, develops and

retains high potential members of the organization. Organizations are now clearly mandated more intensively than

in the past, to be innovative and to work on their Talents.

1. Needs to be tied to the requirements of the business.

2. Plans are put in place over the course of years, not months.

3. Requires a solid thinking and planning ahead approach, ensuring that the target of the Talent Management System is future-oriented.

4. Includes activities that require ownership by and active participation of Senior Management.

Talent identification: aCorporateCultureor

aManagementSystem?

9ExecutiveNewswire 06/13

TalentManagementbeginsassoonasrecruitersidentifypotentialcandidates

andcontinuesthroughoutemployees’lifecycleintheorganization,includingtheexitprocess.Theabilitytoeffectivelymanageanintegratedtalentmanagementprocessisonetruecompetitiveadvantageoforganizations.TalentManagementgoesbeyonddevelopinghipotentials/topperformersandidentifyingcriticalroles.Therealvalueofaneffectivetalentreviewprocesscomesfromtangibleactionsacrossallfunctionalareas:searchandselection,learninganddevelopment,performancemanagement,promotionprocess,rewards,exitmanagement.Upondefiningaseriesofmeaningfulinterventionsthroughouttalent’stenureinallaboveareas,thenextstepistoexecuteinaconsistentway.

Itisimportanttoemphasizemoreon“hows”than“whats”.Manytimes,companiesaredevelopinggreattalentmanagementplans,buttheymisstheexecution.Forthisreason,itisbettertoplanahandfulofactionsandcommitinmakingthesehappen,thanlistnumerousideasontalentmanagementwhichremainonpaper.Finally,talentmanagementisnotHR’sjob.Theprimaryresponsi-bilityfallsinlinemanagers.HRcontributionispivotalinsettinguptherulesoftheroad,establishingtheframeworkandensuringconsistencyacrosstheorganization.Then,itisuptothemanagerstodrivetheprocessfurtherdownintheorganization.

AtCiti,talentmanagementisanongoingprocesswellembeddedinthecultureoftheorganization.TalentreviewsareconductedonaregularbasiscoveringallgeographiesgoinguptoCEOlevel.Business’involvementisintensiveandHRfacilitationisperformedbyusingadvancedtoolssupportedbyatechnologyinfrastructurefortalent,whichisintegratedintothecompany’scoreHRMS,increasingthiswaytheefficiencyoftheprocess.

Animportantassetinoptimizingproductivitywillalwaysbetheorganization’stoptalentanditsmanagement.

Irrespectiveoftheeconomicsituationitisimportanttoremaincompetitive,byleveragingthebenefitsofeffectiveTalentManagement.TalentManagementhelpsincreaseorganizationalefficiencyandeffectivenessandhasaprovenstronglinktofinancialreturnsofanyprivatesectororganization.TalentManagementisabout:1. Fillingpositionswiththerightcandidates2. Promotinghighpotentials3. Developingstafftoincreasetheir

efficiencyintheircurrentrole4. Increasingperformanceandretaining

thebestemployees

ThismeansthatforTalentManagementtobesuccessful,anorganizationshoulddevelopandimplementmethodologicalandwell-thoughtprocessesandtoolsinsuchareasasrecruitment,compensation,performancemanagement,careerplanningandlearning,inordertoidentify,developandretaintalents,whilesimultaneouslyenhancingtheirperformance.Knowledge,experience,competenciesandskillsaretheingredientsofhumancapitalthatneedtobesupportedbygovernance,sustainedandincreased,inorderforanyorganizationtoflourish.

Theguidingprinciplemustbetoestablishclear,quantifiablebusinessgoalstobeachievedthroughTalentManagement.Thesecouldinclude,reducingpersonneloverheadsoroptimizingComp.&Benstructures;ortheycouldbefocusedonincreasingproductivity,byincreasingthequalityofnewhiresortheavailabilityofawell-structuredsuccessionplan.

Organizations,inordertorespondtotherapidlychangingenvironmentandtheenormouschallengestheyface,haverealizedthatastrategictalentmanagement

approachisabusinessimperativeforsustainingacompetitivepositionintoday’smarketplace.

Theefficiencyandsuccessoftalentmanagementdependsonmultiplefactors.Therearehowevertwokeyissuestobetakenintoconsiderationwhenimplementinganyrelevantstrategy:

AbilityofHRProfessionalstounderstandthebusinessstrategyandworkinpartnershipwithSeniorManagementtostirtheorganizationtothedesiredfuturestate.HRwiththeappro-

priateinfrastructureandsystemsshouldbuildprocessesthatwillofferbusinesssolutionsbydefiningorganizationalneedsandthenbyidentifying,developinganddeploying

talentswithintheorganization.Alltheseprocessesshouldbealignedtotheleader-shipbehaviorsandskillsthatthecompanyhasdefinedascriticaltosucceed.

TheimportanceofthefunctionofLineManagerswhohavethemostdirectimpactontalents.LineManagersneedtounderstandtheirpersonal

responsibilityinfosteringtalents,enhancingdiversityandcreatingatalentculturethroughouttheorganization.Theirroleinemployeeengagement,

oneofthemostimportantingredientstoimproveperformanceandmultiplytalents,isvital.

Inconclusion,efficienttalentmanagementisnotjustanHRprocess.Aholisticapproachisrequiredwhereorganizationsunderstandthestrategicvalueoftheirtalentsandeachindividualassumestheirroleincreatingandembeddingatalentmindsetthroughoutthebusiness.

Organizationssucceedorfailbecauseoftheirpeopleandtheavailablestrongtalent.Peoplewiththetalenttomaketheright

decisions,tothinkaheadandtooperatesuccessfullyundertoday’sgreatuncertaintyaremovingtheirorganizationsforwardanddirectingthemto

achievebusinessstrategies.

TalentManagementinleadingorganizationshasbeenprovedtobeabusinessstrategywithdirectfinancialimpact.

Firstofall,talentstrategiesneedtobedrivenbyandalignedtotheorganisation’sbusinessstrategyinordertoobtainbusinessgoalsanddeliverdesiredoutcomes.

Theymustfittothebusinessneeds,thetalentobjectivesandtheorganizationenvironmentandculture.

Anotherfundamentalfactorforsuccessfultalentmanagementstrategiesistobeconsidered,byeverymemberoftheorganizationandespeciallymanagers,asakeypriorityandacorebusinessprocess.

Thechallengeofattracting,developingandretainingtalentshouldnolongerbeseenasthesoledomainofthehumanresourcesfunction.Managersmustacceptresponsibilityfordevelopingandmaintainingexcellence

inpeoplemanagement.

Finally,talentmanagementmustbeintegratedintothecompany’sstandardbusinessprocesses,suchasbudgeting,qualitycontrol,etc.andbeacontinuous/seamlessprocessofworkforce

planning,employmentbranding,recruiting,orientation,performancemanagement,development,deploymentand

retentionoftalentedemployees.

Spyros A. RaptakisHuman Resources Manager

ELPEDISON POWER

Ioanna PapakonstantinouBusiness & Organizational Strategy ManagerEXCEL Maritime Ltd

Zetta KotrotsouHR Director Greece & IsraelJohnson & Johnson Medical Greece

Costas TsalikisSenior Vice President

Deputy HR Head - Citibank Greece

Which are

the Talent

Management

success factors?

Nowthatgreatperformanceismoreessentialthanever,thequestionofwhatmakesa

differencebetweenanaverageperformerandatalentisagainonthetable.Therearetwomainschoolsofthought:thefirstonesaysthatitishardworkthatmakesallthedifference.Theotherholdsnatureresponsible.

Inmyopinion,thisisnotaneasydilemma,andtheanswerisdefinitelynotastraightforwardone.However,theevidencefromscientificstudiesdoesn’tseemtofavourthebeliefthattopperformersaredeterminedbytheirinborntalents.Infact,manysuccessfulpeoplehavequiteaverageIQs.ItseemsthatpracticeandperseverancearemoreimportantthanDNA.

Whatmakesallthedifferenceissomethingmorethanhardwork.Itissomethingthatresearcherscall“deliberatepractice”.Deliberatepracticeiscertainlyhard,butitseemstobeworkingforthosewillingtoengageinit.GeoffColvinhasidentifiedsomeofitscharacteristics:firstofall,itisnotrandombutitisspecificallydesigned,ideallywiththesupportofamentororacoach.Furthermore,ithasonespecificgoal:toimproveperformancebystretchingtheindividualbeyondhis/hercurrentabilities.Inotherwords,bytakinghim/hertowhatNoelTichycalls“thelearningzone”.Thelearningzoneisbetweenthecomfortandthepaniczoneanditisthelocationwhereonecanmakeprogress.Identifyingthelearningzoneisnoteasy,butstayingcontinuouslywithinitisevenharder.Theorganizationsthatseemtorecognizethisnotionaswellasfindwaystoincorporateitintheirculturesseemtobethemostsuccessfulones.

Intoday’sverychallengingandaggressiveeconomicclimate,havingtherighttalentthroughouttheorganizationisacriticalsourceofcompetitiveadvantage.Better

talentiswhatwillseparatethewinningcompaniesfromtherest.InMinervaSAEdibleOilsEnterprises,itisbecomingatopprioritytoensurethattheemployeeswhoplayacriticalroleinthesuccessofthecompany’sstrategyarepreparedforthepresentandcomingbusinesschallenges.

TalentManagementinMinervaisaconsciousanddeliberateapproachinordertoattract,developandretaintheemployeesthathavetheaptitudeandabilitiestomeetcurrentandfutureorganizational

needs.Understandingemployeeaspirations,theprocessgivesclaritytoalltalentedpeopleinourorganizationontheircareerandpersonalgrowthopportunities,andthereforedrivesexcellentperformance.

Theidentificationandcontinuousreviewofkeyroles,thesuccessionplanning,thepersonalizedapproachofhighpotentialemployeescareerplanning,aswellasthementoringprogramarejustafewoftheprocessesthatensurethatMinervahasthenecessarytalentneededforachievingitsstrategyandobjectives.

Therearequiteafewmeasuresweuseinordertovalidatetalentmanagement’ssuccess.Themostimportantaretherecruitmentcostforcriticalpositions,aswellasthe%ofthosecoveredinternally,thenumberofmanagersthatmovetootherrolesinthegroup(global,regionaletc.)andtheretentionrateinthetalentpool.

Findingtalentedemployeeshasalwaysbeenchallenging,butnowadaysthechallengeshaveintensified.Globalization,differentopportunities,additionalrequirementsanddemandingcandidateshaveincreasedthedifficultytorecruitandretaintalentedpeople.Companiesshouldlookfortalentineverypossiblefieldandhiretalentatalllevels-entry,midandtop.Oncetherightingredientsareinplace,thenthroughchallengingjobexperiences,helpfulcoachingandmentoring,thetalentcanalsobedevelopedandfortified.

Throughmyexperiencesgainedinworkinginalargeorganization,

participatinginsportsandraisingchildren,Ihaveseenthatnaturaltalentexists.Itisanundeniablefactthatpeoplemayhaveanaturalaptitudeinsomeareas.Butthisdoesnotmeansuccessbydefault.Thekeyissueiswhat

youdowithyour“giftofnature”.Naturaltalentcangiveyouaheadstartbutwill

notwinyoutherace.Naturaltalentneedstobedevelopedandtranslatedintoanactualstrength.Naturaltalentgivesyouthepotential,butyouneedtorenderthatpotentialintosuccess.And

howdoyoutransformanaturaltalentintosuccess?Youneedhardworkandpassionforwhatyouaredoing.Andhowcanexceptional

leadersensurethishappens?Inspire,MotivateandEngage!

Doesthismeanweforgetaboutareaswhereonedoesnothaveanaturaltalent?Quitetheopposite.Naturaltalentonlygivesyouan

easierbeginning.Whatbringsthedesiredresultirrelevantofwhetheranaturaltalentexistsiscontinuouseffortandfocus.Andhowdoleaders

ensurecontinuouseffort?Byrewardingandacknowledgingtheefforteverystepoftheway!

Panagiotis KessoglouHuman Resource Director - MINERVA SA Edible Oils (member of PZ Cussons plc)

Menelaos MossialosChief HR Officer - ING Life Greece

Liza MagiakouGroup HR Manager M. J. MAILLIS GROUP

Is talent

Natural or

Developed?

11ExecutiveNewswire 06/13

Is strategy-driven

Talent Management

a leadership

imperative?

Overthelastfewyears,talentmanagement

hasbecomeanareaofeverincreasingimportanceinthecorporateagenda.

TheeffectivenessofHRdepartmentsmaynowbeevaluatedbytheirabilitytodriveand

facilitatetalentdevelopmentandretention.Itisessentialthattalentmanagementisembeddedin

thecultureofanorganizationandanintegralpartofsuccessionplanningprocessandorganizational

development.Asuccessfulandmeaningfultalentmanagementapproachdependsonanumberoffactors.

Itiscrucialthatseniorleadersareactivesponsorsinthisprocessandinvesttimeandeffortinreviewingtalent

developmentonafrequentbasis.Itisimperativethatthecompany’sdefinitionoftalentiscrystalclearandcommon

knowledgeacrosstheorganization.Moreover,thecompanyneedstohaveasolidtalentidentificationandsuccession

planningandreviewprocess.TheHRdepartment’sroleiscriticalasitistheownerofthisprocess.HRhasakeyroleinengaging

seniorleadershipandlinemanagersacrossthebusiness,ensuringatransparentprocessintalentidentification,facilitating

andcoordinatingtalentdevelopmentactivitiesinclosecollaborationwithlinemanagementand

safeguardingasuccessionplanningprocess.Nevertheless,thesuccessoftalentmanagementdoesnotresidesolelyonHRbutisacorporateresponsibilitydrivenbyseniorleadership.

Mrs.VasiliaMoschonainsightsregardingtheTalentManagementDefinitely,strategicdrivenTalentManagementisacorecompetitiveassetinbusinessorganizationsthathasagreatimpactonitsfinancialresults.Therearealwaystalentstobefound,nomatterthesocialoreconomicsituationorthetechnologicalphaseweareinandregardlessthegenderoragegroup.Therearetalentseverywhere:inourschools,universities,socialgroupsandcompanies.

Historyhasshownthatmanytalentsdidnotcomeoutnecessarilyfromsuccessfulcompaniesorspecificuniversities.Ofcoursethetalentsweneeddependonourbusinesssector,thechosenstrategyandwhatweintendtoachieve.Thechallengeis“howwecanallowthesetalentstoflourish,toshowandutilizetheirpotentialinourcompanies”especiallyinanuncertaineconomicenvironmentwherethefocusismoreonhowtoavoidmistakesandlessonhowtocreateanddevelop.

So,whicharethemainprocessestoensurethatthenecessarytalentsareavailableforeachcompany’sbusinessstrategies?Firstofall,talentacquisitionstartswiththerightrecruitmentprocess.It`scriticaltohaveinmindwhatskillsandcompetenciesweneedinourcompaniesforthefutureandnotonlyforthepresentneedsofthedifferentprojectswerunintheshortterm.Secondly,companiesmusthaveaperformanceappraisalsystemthatislinkedwiththecompetenciesofthecompany,thebusinessgoalsandcanenablehighperformance.Continuoustraining,opportunitiesfornewprojects,mentoringandcoachingarealsoverypowerfultoolsfortalentmanagementsuccess.Moreover,Space,CommunicationandTimearetheTalentManagementsuccessfactors.Wehavetoofferspaceforthetalentstodeploytheircapabilities.Weneedtoallowthemtolearn,combineknowledgeandexperiences,tothink,dreamandexperiment.Talentsneedspacetobringnewideasandtodriveinnovationthroughtheorganization.Throughcommunication,weneedtomakecleanthattalentmanagementisavalueinourcompaniesandthatweconstantlysupportitthroughspecificmechanismsandpracticesthatareconcrete,clearandtransparent.TalentManagementisanongoingprocessandthereforweneedtoinvesttimeinit.Toconclude,Talentformeisacombinationofabrilliantmindandapersonalitythatallowstheindividualtoinnovate,createandcooperatewithadeterminationtoachieve.Somyanswertothequestion“istalentnaturalordeveloped?”,isboth:naturalintermsofintellectualcapabilitybutyoucan

developtherightcompetenciesfortheindividualtosupportit.

R esearchhasrepeatedlyproventhathighperformingorganizations

tendtointegratetalentmanagementcomponents,morethanlowperformingorganizations.

Talentmanagementisthebusinessstrategythatprovidessuperiorworkforce,helpsretainexceptionalemployeesandensuresoutstandingleaders.Itstemsfromtheorganization’smission,vision,valuesandgoals

andenableseveryemployeetoseewhereheorshefitswithintheorganization.This,inturn,makesitpossibleforcrucialemployeestofeel

thattheyarepartofsomethingbiggerthantheircurrentjob.

SuccessfactorsofTalentManagementincluderobustactivitiesandworkprocesses,suchas: Clearroledescriptionsthatincludeskills,abilitiesandexperienceneeded

fromanemployee. Anappropriateselectionprocessthatcanselectemployeeswho,notonlyhavea

superiorpotential,butfittheorganization’scultureaswell. Aperformancedevelopmentsystemwithwhichrequirements,accomplishment-

basedperformancestandardsandoutcomesareclarifiedandmeasuredbyANDtheemployee’sinterestsforcareerdevelopmentareincluded.

Employeeon-boardingandongoinglearning&developmentopportunitiesthatcaterforboththeemployee’sandtheorganization’sneeds.

Coaching,mentoringandfeedbackprocessesprovided,sotheemployeefeelsguided,supportedand,hence,valued.

Compensationandrecognitionsystemsthatrewardpeoplefortheircontributions.Researchrevealsthatemployersofchoiceaimtopayabovemarketfortalentedemployeesandhaveanassortmentfinancialandnonmonetaryrewardsinplace.

Careerdevelopmentandadvancementopportunitiesforemployeeswithinasystemthatincludescareerpaths,successionplanningandon-the-jobtrainingopportunities.

Mostcommonimpedimentstoeffectiveintegratedtalentmanagementeffortsincludeconflictingpriorities,limitedresources,non-supportivecorporatecultures,incompatibleorganizationalprocessesandseniorleaderswhoaretoopoliticalorundervalueintegratedtalentmanagement.

ResearchSupportsthatthefollowingpracticeshelpeliminatebarriers,increasechancesforsuccessandmultiplypositiveimpact:

TalentManagementisendorsedandactivelysupportedbytopmanagement.HavingtalentmanagementKPIsasindividualtargetswithintheirperformancematrixhelpstremendously.

Allrelevantprocessesarepartofastandardizedannual(orhalf-year)talentreviewproce-dureandareenhancedbyanorganizationalculturethatsupportstalentmanagement.

Asinglefunctionalownerisappointedasthechampionoftalentmanagementinternallyandfacilitatesimplementationandconsistency.

Connectivityandconsistencyamongallperformanceandtalentmanagementactivities.

Dimitris IoannovichHead of Human Resources Greece & Balkans Marks & Spencer

Perpinia EfharisVice President Hellenic Institute of Human Resources Management

Which are

the Talent

Management

success factors?

Eurobankplacesemphasisonandreinforcesitshumanresourcescompetitiveadvantagesinlinewiththeorganization’sstrategicgoals.Westronglybelievethatourorganization’sgrowthislinkedtothede-

velopmentofeachemployee.Moreover,thecurrentfinancialcrisisanditsconsequenceshavecreatedtheneedforanintegratedapproachtowardshumanresourcesmanagement,inordertoenableourpeopletocopewiththeadverseeffectsoftheenvironmentandtheresultingincreasedcomplexity.

Inordertoenhanceandstrengthenourpeoplecapabilities,wehavedesignedandestablishedaGroupwideintegrated,innovativeandcomprehensiveProfessional Development frameworkaimingat:

Developingacommonleadershipmodelacrosstheseniormanagementteam,reinforcingacultureofhighperformanceandcontinuousimprovement

Ensuringconsistencyandenhancingclarityandtransparencyregardingthecareerdevelopmentandtalentmanagementpracticesinourorganization

EstablishingacommonGroup-wideapproachandpracticeformanagingkeyresourcesthroughinternaljobmarketandin-houseimplementationoftalentmanagementprograms,establishingsynergiesandachievingcostsavings.

TheEurobankProfessionalDevelopmentframeworkincludesdevelopmentandtalentmanagementprogramsaddressedtoallhierarchicallevelsandisbasedonthedesignandimplementationofcustomizedtools/methodologies,suchas360°feedback,coaching,mentoringandanintranetsite,specificallydedicatedtoprofessionaldevelopment.ApioneeringapproachfortalentmanagementprogramsistheestablishmentofDevelopment Committees acrossGeneralDivisions,withtheparticipationofeachDivision’sGeneralManager,SeniorManagersandHR.DevelopmentCommitteeshavetheownershipofemployeedevelopmentwhilsttheydiscuss,approveandfollow-upindividualdevelopmentplans,ensuringtheiralignmentwithBank’sandDivision’sobjectives.Also,talentmanagementprogramshavebeendesigned and delivered in-housefromhighlytrainedprofessionalsfromHRwithrelevantcertifications,ensuringeffectivenessthroughsystematicandtailormadeapproachesthatmeetorganization’sneeds,achievementofcostsavings,alongwiththeupgradeofthecapabilitiesoftheHRteam.

Basedonourexperiencetodate,significantkeyfactorsthatenablethesuccessfulimplementationoftalentmanagementprogramsaretheengagementoftopmanagement,thedisseminationofpeopledevelopmentcultureandmeritocracywhichshouldbeasignificantprerequisiteregardingdecisionsonpeoplemanagementanddevelopmentissues.Additionally,theestablishmentofaconsistentapproach,basedonclearandtransparentcriteriatoallemployees,provedtobecriticalforpeopleengagement,especiallyinhardcircumstances,likenowadays.

Is talent management

within your company seen

as a key organizational

objective which drives

and enables high

performance?

Alexandros Tzadimas

Deputy General Manager HR

Eurobank EFG

Foranycompany,thewarfortalentisasvitalasthebattleforideas.Firstofall,talentneedstobedefined.Acrossthewholespectrum-business,sport,art-itmeans

someonewhoexcelsatdoingthingsbetter.Whatseparatesatalentedpersonfroma

successfuloneisusuallyalotofhardwork.

Talentedpeopletendtofallintotwocategories:

Thosewhobringaddedvaluetoanybusinessthroughconstantoutperformance,eventhoughtheymayhavelittlepotentialtooperateathighermanageriallevels.

Thosewhoclearlycombinepassionandambitionwithanaccomplishedskillsettoprogress,becomingaleaderofthebusinessinfuture.

The“talentequation”foranybusinessinvolvesattracting,placing,retaininganddevelopingtherightpeople.Itshowsgoodleadershipbutalsolookstomaintainthatleadershipelementinthe

quotientthroughitspeopleinfuture.Anysportscoachshowshowastrongteamneedsgoodplayersinthe

rightcombination,andtheyhavetobecoachedtoworkwelltogetherasateam,both

onandoffthefield.Theyneedtobeinsuitablepositions,andtoappreciateleadership.

Finally,theEQ-IQcombinationisfoundinanytalentedperson.Knowledgeandskills,passionandhardwork,thisblendiswhat

trulyhelpssomeonewiththetalentpotentialtocombineheadwithheartandrisetothetop.

Talentcrisiswillaffecteveryregionoftheworldinthecomingyears.

ThischallengewillforceHRprofessionalsinorganizationsofallsizestorecasttalentmanagementinto“talentcreation”.

Despitehighunemployment,animbalancebetweentalentsupplyandjobrequirementswillappear,strikegloballyandcreateintensecompetitionforpeoplewithscience,technology,engineeringandmathskillsforothereducatedprofessionalsinmostindustries.

The workforce strategies of most companies will need dramatic improvement.

Fewcompanieshaveplansofferingrealisticassessmentsofskillsandthereisalackofacomprehensiveworkforcestrategythatmapstoaclearlyarticulatedbusinessstrategy,HRprofessionalsneedtoobtainandinterpretinformationabouttheiremployees’skills,identifygapsandmapthoseagainstwhat’sneededinthefuture.

While skills gaps affect the entire world, developed-economy countries will be affected in different ways.

Forexample,talentshortagesindevelopedeconomieswillcontinuetoplaguerecruitersfromtransportationandcommunicationtoIT,tradeandhealthcare.By2020,justfindingenoughworkerswillbethepressingissueforemployersinWesternEuropeduetodecliningbirthrates.By2030,Europewillneedtoaddatleast24millionworkers.Inparticular,professionalswithcollegeandgraduatedegreeswillbeinurgentdemand.

HRprofessionalsmustfosteraculturewhereallemployeesconstantlythinklong-term,developtalentandtreattrainingasaninvestment,collaboratewithindustryandbusinesspartners,establishrelationshipswitheducationinstitutionsandadapt the workforce planning as a strategy than a plan.

Dimitris TsouroplisGroup Head of Human Resources

Libra Group

Martha MilonaHR Director SouthEastern Europe

Group DDB, President GPMA

13ExecutiveNewswire 06/13

Is Talent

difficult to find

nowadays?

References SilzerRob,DowellBenE(2010).Strategy-DrivenTalentManagement.ALeadershipImperative.Jossey-Bass Welch,J.(2006).Winning.NewYork:HarperCollins

Organizationsarebeginningtounderstandthestrategicvalueoftalentandtheimpactthatstrongtalentcanhaveonfinancialoutcomes.Betweenthecontinuouswarfortalent,thechangingdemographicnatureoftheworkforce,theagingoftheboomers,theentranceofthemillennials,theeverincreasingpaceofchangeintechnologyandthefinancialmarketplace,

organizationsandtheirleadersareundertremendouspressuretogetthetalentequationright.

Soweareinfactenteringthe“age of strategic talent”wherehumancapitalandtalentdecisionswillbeseenashighlycriticalbusinessdecisions.JackWelch(2006)madethepointthattalentmanagementdeservesasmuchfocusasfinancialcapitalmanagementincorporations.But the key issue is to match the Executive Talent to Business strategy.

OurexperienceasExecutiveSearchCompany,suggeststhatmostindividualSeniorExecutivesaremorelikelytobesuccessfulinsomeenvironmentsthanothers.ASeniorExecutivewhoishiredspecificallyfortheskillsandabilitiestodrivebusinessgrowthmaybelesswellmatchedforundertakingamajorcorporaterestructuringorcost-reductioneffort.Anexecutivewithastrongtrackrecordoffinancialmanagementandanalysismaybemoreeffectiveinabusinesscyclethatrequiresstrongfinancialcontrolthanonethatrequiresafocusonproductorserviceinnovation.Increasinglywearegettingmoreeffectiveatidentifyingthetypeoftalentneededfordifferentstrategies.Thereisanincreasingexpectationthatthetalentsofanindividualorexecutiveteamneedtomatchbusinessstrategiesandorganizationaldemands.Whilethishasbeensuggestedinthepastitisnowbeinggivenmoreattentioninexecutiveselectiondecisions.Corporationsarenowmorelikelytocarefullyoutlinethespecificbusinessenvironmentandbusinessstrategiesandidentifythespecificexecutiveskillsandabilitiesrequiredintheposition.Aneffortismadetoselectexecutivecandidateswhosetalentprofilematchesthepositionandbusinesssituation.

Thebusinessworldismoredynamictodaythaneverbeforewithanacceleratingpaceofnewtechnologies,increasingglobalizationofmarketsandcompetition,mergersandacquisitions.Inthistumultuousenvironment,organizationsmustcontinuallyrenewtheirorganizationalcapabilitytoachievecompetitiveadvantage.However,itisincreasinglychallengingtofindthetalentneededtocompeteinthisdynamicbusinessenvironment.

Virginia ArgyratouPrincipal ConsultantStanton Chase Athens office

Matching Executive Talent to Business Strategy

THENEARFUTUREWILLBRINGMOREQUALIFIEDCANDIDATES“Contradictory” candidatesThesedays,peoplearemorereluctanttochangejobsalthoughtheyopenlyadmittheyareopentonewopportunities.However,theyaremorecarefulwiththeirdecisions.One of the problems we have to face in our daily activities is the fact that in many cases the prospective employees are not mature and reliable enough.Eventhoughthecrisishasmaturedthemabit,theystillhavenotreachedthedesirablelevel.Thisisoneofthereasonswhywestillseemanyexpatriatestakinghighlevelpositionsinthiscountry.

Inthefuturewewillseehigherqualifiedcandidatesforkeypositions.Thereasonisthattheemployeeswhoarenowintheagegroupof25-35aremoreexposedtothecorporateenvironment,theyhavebetterstudiesandtheyaregivenmoreopportunitiestodeveloptheircareerintherightway.Inthepast,peoplehadbeengivenkeyrolestoosoonbeforetheyhadacquiredthematurityandexperience.

The dynamics between reality and expectationThetypeofemployeesthatmainlyourclientsarerequestingforarethosewhodotheirjobaboveandbeyondwhilecontinuallylookingforopportunitiestolearnandgrow.Additionally,stableanddedicatedpeoplearepreferred.EmployerswillbeeagertofindprofessionalwhoareverystronginBusinessDevelopment.Also,therewillbeanincreaseddemandforadvancedpeopleindifferentareasoffinance.Additionally,thestrongmarketsectorswillbeenergyandITindustrythatwillshowaneedforadvancedtechnicalskills.Ontheotherhand,hiringofRomaniansabroadhasincreasedoverthepasttwoyears.Oneofthemainreasonsisthattheyaremorewillingtorelocatethaninthepast.AlsotherearesomesectorsliketheITIndustrythathavedevelopedaverygoodpoolofcandidatesforregionalandinternationalroles.

TheeducationalsystemofRomaniacouldnotbeconsideredaveryadvancedone,apartfortheInformationTechnologyandCommunicationschools.Forthisreason,thenewworkersforthoseindustriesarequitestrong.Unfortunatelythough,it’strue

thatRomaniahaslostatleastpartofitsattractivenessintermsofskilledlaborforceatlowcostbecausequalityofeducationhasdecreased.

Also,wehaveseenmanycompaniesshiftingtheirproductiontoothercountries.Laborcostisoneofthereasons;

howeverthemajorreasonistheunderdevelopedinfrastructure.Insomecasesthough,

internationalcompaniesarestillinvestinginRomaniabutnot

asmuchasinthepast.Wehavetocompete

mainlywithAsia.

Annita PakioufakiManaging Director

Stanton Chase Bucharest office

15ExecutiveNewswire 06/13

Regional Newsletter for Southeast Europe and Middle East

www.stantonchase.com

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Nowadays, Talent Management is not what it used to be in the past. More and more research findings suggest that fewer people are capable of meeting the demanding future needs of organizations.

The Corporate Leadership Council (2005) identifies eight factors that are challenging for organizations from a talent

perspective: mergers and acquisitions increasing business complexity globalization aging workforce

competitive specialized talent markets the need to manage global talents

leaner organizational structures the expectations of organization leaders to control costs while driving growth.

The above eight factors increase both the importance and the difficulty of managing critical talent pools. Companies are taking multiple paths to ensure that they will have the talent they will need to meet current and future strategic needs.

Stanton Chase offices around the world indicate that the challenge of finding sufficient high-quality leadership talent is a critical issue in Asia, Japan and South America. China faces similar shortage of leadership talent due to the demographic situation and cultural philosophy.

Historically, corporations have addressed the issue of insufficient internal talent by recruiting successors from the external market. Understanding the quality of external talent leads to an increased focus on the development of internal talent. Organizations risk their future growth if they do not apply equal discipline to the development planning of both their talents and their products & services. The extent of the investment in identifying, reviewing and managing their talent pool highly depends on their internal and external environment.

The management of high-performing and high-potential employees (talent) in organizations has attracted attention in recent years because of the assumed links between the ways that talent is managed and the organizational performance.

T alent management is important for at least two primary reasons: i) the first is that effective talent management ensures that organizations can successfully acquire and retain essential talent, i) the second has to do with the extent to which

these employees are engaged.

Quality of External Talent leads to an Increased Focus on the Development of Internal Talent

References Corporate Leadership Council (2005), Realizing the full potential of rising talent: Vol. 2, Strategies for supporting the development of high-potential employees. Washington, DC: Corporate Executive Board.Manos Panorios

Managing Partner

According to Mark Zuckerberg, founder of Facebook, “an exceptional employee is not just a little better than someone who is pretty good; he is 100 times better”.