Talent Management - January 2009 - (Page 12)

[leading edge] by Jac Fitz-enz The Times, They Are a-Changin’ Bob Dylan was right 50 years ago. The November election showed that and a lot more. More than just a black man being elected president, the sweeping victory of the Democratic Party was a mandate for change. Like it or lump it, the next administration, backed by a friendly Congress, is going to make some changes for better or worse. But eventually the chokehold will loosen, and there will be some room to maneuver. Smart talent executives will prepare for that now. When things lighten up sometime this spring, you should be ready to spring. Think ahead: Where can you make a valuable contribution as your company struggles out of the mud and tries to get a jump on the competition? painful, but if you haven’t been looking ahead, you can expect another whack on the noggin. A better way is to have a strategic talent management map in your mind about where the ﬁrst and best opportunities will and should come from. Pay attention. Are you going to need a new: • Workforce plan? For what capabilities? Well, HR? When change comes, the organizational fabric is stretched and gaps begin to appear. Gaps are opportunities for someone to step in and make a difference in the way the fabric is rewoven. With regard to the November election, the newly elected administration will wrestle with a woeful economy, consumer conﬁdence at all-time lows, the Iraq/Afghanistan quagmire, a shameful national health care system and millions of boomers wanting to retire but unable to afford to do so. On top of it all is a national debt that has eroded the dollar and left little room to borrow to solve problems. What can HR do about it? On the one hand, not much. For those of us committed to running kindergartens rather than being strategic business contributors absolutely nothing will change. Except, as the economic situation worsens, a bunch of talent leaders may well lose their jobs. On the other hand, the much lower percentage of us who want to do something meaningful have an unprecedented opportunity. Where can you make a contribution as your company struggles out of the mud and tries to get a jump on the competition? Remember Last Time If you have been around more than 10 years, you remember the dot-com boom, its meteoric rise and seemingly overnight collapse. What did the company need in 2002 and 2003 as it started to recover? It needed to: • Restock the cupboard with new talent. • Create new learning programs. • Rethink pay and beneﬁts to appeal to multiple generations of workers. All of a sudden you heard this new word “engagement.” What did it mean to you? Planning started to come back into vogue. Coaching jumped up to support inexperienced managers at all levels. The list went on and on. Did you take advantage of it then, or did you go right back to running the kindergarten? • Stafﬁng strategy? At what level? • Training program? For whom? • Pay system? To attract and incent whom? • Engagement, leadership, retention, branding? I think you are smarter than the average bear. If you are, then act like it. Trade wishful thinking for fruitful action. Be ready when the ﬂag drops to be off and running at full speed. Building is more fun than maintaining or tearing down. You can learn how by going to www.humancapitalsource.com/ft and downloading complimentary papers from a new series, “Future Thought,” written by experts in various HR functions in several industries. The Mandates No matter which hand you choose to deal from, you will have to manage expenses more stringently than ever before. Already, we have seen draconian strikes at cost cutting: layoffs, budget cuts, businesses going under and a pervasive avoidance of anything new — no matter what merits an idea has. How to Do It There are at least two ways to respond when the opportunity for change appears. One is to wait for someone to hit you upside the head and demand action. That can be About the Author Dr. Jac Fitz-enz is founder and CEO of the Human Capital Source and Workforce Intelligence Institute. He can be reached at editor@talentmgt.com. 12 January 2009 talent management magazine www.talentmgt.com http://www.humancapitalsource.com/ft http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - January 2009

Talent Management - January 2009 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Integrate Web 2.0 Into the On-Boarding Experience Show ’Em the Money: Compensation Trends 2009 Transition at the Top How Hollywood Manages Talent and What You Can Learn Get the Most Bang With Limited Training Bucks Life After Layoffs Attract Specific Talent Groups Performance Management: Its Time Is Now Helping the Helpers Advertisers’ Index Editorial Resources Full Potential

Talent Management - January 2009

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