HR Pulse - Spring 2009 - (Page 21) management as: strategically managing the human resources of the organization to proactively close the gap between existing talent resources and the leadership requirements of the future. The expressed goal of the strategy is to ensure that NYP’s success is supported by superior “bench strength.” “We want to be an organization that looks five, 10, 15 years down the road, and our formalized talent management process gives us insight to the talent we have in house on a year-by-year basis,” says Tom Ferguson, senior vice president and chief human resources officer. It’s a process that appears to be working. In January 2007, NYP set a target of filling 60 percent of its open management positions from within the organization; as of the end of 2008, it had achieved a rate of 57 percent, according to Ferguson. NYP’s three-part TM strategy encompasses: 1. Targeted talent acquisition 2. Talent development processes 3. Formal training and development. “Talent management is integrated into our ongoing way of doing business,” says Carol Silk, vice president and chief learning officer. “At this point, we can honestly say we’re managing talent 24/7. I think it speaks volumes that an organization that already has such low turnover spends so much time focused on talent management.” NYP boasts a 10 percent overall turnover rate and an overall vacancy rate of less than 5 percent. While each component of the TM strategy contributes to its ultimate success, NYP’s organizational talent review (OTR) process—which includes talent assessment, succession planning, and development planning—can be viewed as the engine. Organizational Talent Review The purpose of OTR, according to Silk, is to have senior managers identify current and future talent needs, review existing talent against those needs, and take personal accountability for actively developing talent and increasing bench strength within the organization. This comprehensive management process is conducted on an annual basis and led by NYP’s CEO and COO. Every January for the last fi ve years, the CEO and COO have held a kick-off meeting for the 1,200+ managers, deans of NYP’s two affiliated universities (Columbia and Cornell), board members, and physician leaders to review accomplishments from the past year and set expectations for the year ahead. “These meetings reflect that the CEO and COO are critical drivers of our talent management process and that they understand our business is a people business,” says Silk. The OTR is designed to: • Provide an in-depth look at the organization to assess individual and units’ strengths and development needs • Review and actively manage talent in the context of NYP’s emerging strategy • Identify the organization’s best people and review their development NEWYORK-PRESBYTERIAN HOSPITAL TALENT MANAGEMENT STRATEGY Targeted Talent Acquisition Intern/Externship Programs • Summer Administrative Internships • NY Times Undergraduate Summer Internships • Support Services Internships • Nursing Residencies • Clinical Dietetic Internships • Clinical Pharmacy Internships Talent Development Processes Organizational Talent Review • Talent Assessment • Succession Planning • Development Planning Talent Pool Management • Emerging Leadership Council • Service Line Administrators • Black Belts Recognition Programs Formal Training & Development Executive Coaching Building the Talent Advantage Career Panels Multiple Training Curricula NEWYORK-PRESBYTERIAN HOSPITAL ORGANIZATIONAL TALENT REVIEW SVPs Meet with VPs What • Review department talent requirements & trends • Identify key talent, retention & development plans When May-June SVPs Meet with COO What • Review organizational data • Provide updates on prior year OTR commitments • Review key talent & next steps When June SVPs and COO Meet with CEO What • Review SVP’s organizational talent requirements & trends • Discuss key talent, mobility & development plans • Identify future opportunities When July ▲ 21 HR Pulse Spring 2009
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.