Global Talent Innovation Model – Going Beyond the Cookie-cutter Best Practices

Editor's Note: Take a look at our featured best practice, McKinsey Talent-to-Value Framework (230-slide PowerPoint presentation). Curated by McKinsey-trained Executives Unlocking Business Excellence: The McKinsey Talent-to-Value Framework Toolkit In the dynamic world of modern business, staying ahead of the competition means maximizing the potential of your most critical asset – your people. The **McKinsey [read more]

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Status quo talent strategies no longer work for high performing organizations. Old models no longer work. It does not anymore meet the needs of the global workforce.

HR Strategies are out of step with the way work is conducted. Jobs that are structured around a 9 am to 5 pm Monday through Friday workweek is considered inconvenient and counterproductive. Training focuses narrowly on skill building not on aligning talent capabilities with strategic objectives. Career development does not reflect the needs to redefine advancement opportunities in the context of flatter, more flexible organizations. And Leadership Development is not arming organizations anymore with decisive, experience, globally minded visionaries that are sorely needed.

In transitioning from the 20th century to the 21st century, a talent model paradigm shift has evolved. Talent Models now need to be rethink to attract, engage, develop, and retain the right talent. Global Talent Innovation must be prioritized. Yet, many HR departments lack the capability and organizational clout to orchestrate the changes required. There is now a call for Chief Executive to rise above its limitations to be able to lead the change towards Global Talent Innovation.

Discovering the Global Talent Innovation Approach

Crafting a Global Talent Innovation Approach is as challenging and complex as any other C-suite mandate. It can be tailored to meet a wide variety of short- and long-term talent challenges and scenarios. Companies can implement a short-term tactical intervention locally while building a platform for sustained talent advantage on a global basis.

The Global Talent Innovation Model moves companies beyond cookie-cutter best practices and standard tool kits. It is a road map for business leaders striving to understand and tackle global talent challenges. Nowadays, many companies are in crisis mode and are looking for ways to address and alleviate immediate pain points when it comes to talent innovation.

The 4 Pillars of Global Talent Innovation.

The 4 Pillars of Global Talent Innovation serve as a platform upon which organizations can construct a relevant and robust Talent Model. Top management can optimize talent expenditure, enhance the productivity and performance of the workforce, and gain competitive advantages.

1. Distinctive Capabilities
   Distinctive Capabilities are collected skills, abilities, and expertise that enable a company to consistently out-execute the competition and capture share. It is a cross-functional body of knowledge, processes, and tools that distinguish a company in its competitive space.
2. Accelerated Performance
   Accelerate Performance refers to processed and behaviors that are applied to manage performance. These are the rigors in which processes and behaviors are designed and conceived, and the degree to which they drive compensation, development, and promotion decisions.
3. Leadership Development
   Leadership Development is a natural way to broadening the mix of people in senior executive positions. These are the qualities and requirements that define a world-class leader.
4. Talent Culture
   A Talent Culture is made up of values, beliefs, behaviors, and environment that is required to attract, engage, and retain committed and competent employees. A Talent Culture must be led from the top. It can be achieved and sustained only if it is hardwired into the company’s processes.

The Global Talent Innovation Model provides a template for building a culture that affirms and rewards critical talent. The 4 Pillars of Global Talent Innovation must be integrally linked. When undertaken the right way, the Global Talent Innovation Approach can enable companies to release their full innovative and productive potential. Companies just need to learn the approaches integral in each of the 4 Pillars to put the Global Talent Innovation Model in place.

Interested in gaining more understanding of Global Talent Innovation? You can learn more and download an editable PowerPoint about Global Talent Innovation here on the Flevy documents marketplace.

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The purpose of Human Resources (HR) is to ensure our organization achieves success through our people. Without the right people in place—at all levels of the organization—we will never be able to execute our Strategy effectively.

This begs the question: Does your organization view HR as a support function or a strategic one? Research shows leading organizations leverage HR as a strategic function, one that both supports and drives the organization's Strategy. In fact, having strong HRM capabilities is a source of Competitive Advantage.

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