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Talent Magnets Hugh Bucknall 21 August 2001 -- Issues and Practical Experiences Nicole Sexton Guangzhou Office Opening Ceremony Seminar Talent Magnets Session 2: Practical experiences Lessons from other places What they have done about it What does it mean for you Hugh Bucknall 21 August 2001 William M. Mercer, Incorporated 2 4 Ways to become a Talent Magnet Staff Attraction Retention Schemes Employment Branding Succession Planning Talent Management William M. Mercer, Incorporated 3 Practical experiences ? Facts and Fiction ? Responding to the challenge ? Take aways ? Dispelling the myths ? Setting the record straight ? Why it is a very big business issue ? Diagnostics ? Tools ? Case studies ? How do you rate ? Tools you can use William M. Mercer, Incorporated 4 Facts and Fiction ? Dispelling the myths ? Setting the record straight ? Why it is a very big business issue William M. Mercer, Incorporated 5 The Common Myth of Talent Management ... Even though pay has been increasing, …“its a problem of COMPENSATION” it is not enough to attract, retain and motivate professionals ... William M. Mercer, Incorporated 6 So, what are the magnets that bind? ? Inspiring Leadership ? Fun work culture ? Challenging Work ? Feedback ? Career growth ? Pay is fair William M. Mercer, Incorporated 7 And, why do top talent leave? ? Bad boss ? No career prospects ? No feedback and support ? Broken promises ? No customisation for my needs ? Wrong people in wrong jobs ? Red Tape ? My voice not heard ? Work life balance ? Pay Wm M Mercer Private Survey in Singapore 2000 William M. Mercer, Incorporated 8 High-performance talent management practices yield significant economic returns The Business Opportunity Based upon a one-standard- deviation increase in high performance talent management practices Talent Management System
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