The open talent economy
Jump ahead to the year 2020. Half the people you rely on don't actually work for you and that's a good thing—if you're ready
2013 top five global employer rewards priorities survey
Attracting and retaining top talent
Talent, performance and rewards
Technology, globalisation, and growing government regulation are reshaping the way people learn, collaborate, and lead. At the same time, the talent market has become driven by demand. Organisations are now rethinking their talent strategies as all stages of the employee lifecycle. New, innovative HR programmes including total rewards, learning, and performance management are required to attract and keep critically needed talent. Given the complexity of these changes, many organisations are finding it a challenge to navigate the path forward. That's where we can help.
Deloitte's talent, performance and rewards services will help ensure that your people strategies support your broader business strategy.
How we can help
The talent, performance & rewards service line enhances our clients’ ability to compete in the marketplace for the talent needed to achieve their long-term financial and strategic objectives in a cost effective and risk-efficient manner. We provide an integrated talent approach that addresses the complete lifecycle of talent, from identification and acquisition to development, performance, and incentive, supported by the right foundational programmes.
Our talent, performance and rewards team can provide the following services:
- Performance management and rewards strategy
- Talent strategy
- Leadership assessment and development
- Talent diagnostics and workforce planning
- Performance management and rewards strategy
- Succession planning
Talent strategies refers to the activities, processes, and infrastructure related to developing, rewarding, and measuring the performance of employees. The goal of an organisation's talent strategy is to place the right people with the right skills in the right roles for the right period of time in order to achieve business objectives. Because organisations need to align their business strategies and their workforce strategies to enable the achievement of business goals, talent management is a shared responsibility between Human Resources (HR) and the business. Best practice talent strategies cover a broad spectrum of areas, including resourcing, performance management, competency modelling, talent development, learning, succession planning, and compensation and benefits.
Leadership assessment and development
Leaders in any business are facing increasing pressure to perform, whether it is from increased expectations of the Board, shareholders, employees, government, etc. Leadership drives change in organisations. If an organisation is to put the “conditions for success” in place and embark on organisation transformation, they need this for what we call “Condition Zero”. If leadership is not set up for success or not willing/able to lead, our client’s transformation projects run the risk of not delivering their business values and strategic goals.
Leadership models need to continuously adapt to new environments. In response, Deloitte take a holistic approach to Leadership through our LEAD model which assists in addressing complex leadership challenges. It’s about supporting leaders as they execute strategy by addressing 4 key things:
- Leadership capabilities: The abilities that enable leaders at all levels to exercise effective leadership of change
- Leadership structures: Aligning the organisation’s leadership strategies and infrastructures with strategic goals
- Leadership motivation: Commitment of leaders to exercise effective leadership of change for the achievement of strategic goals
- Leadership relationships: The culture, team, dynamics and stakeholder relationships needed to exercise effective leadership of change
Our assessment and development solutions assist clients in selecting, identifying and developing talent at all levels in their organisations. Our bespoke and innovative solutions are focused on the skills, knowledge and behaviours required to drive the business strategy and objectives.
Our services include:
- Leadership and management assessment/development centres
- Succession planning
- Competency modelling
- Psychometric services
- Organisation structure
- 360 feedback services
Talent diagnostics and workforce planning
Talent diagnostics is one of our key offerings, addressing all aspects of the talent lifecycle using the Deloitte best practice diagnostic tool. The diagnostic tool allows us to critically assess the maturity levels of a wide range of talent dimensions against best practice. The dimensions span all of talent and include reward, performance management, leadership development, succession planning, workforce planning, recruitment and selection, etc. The tools also allows us to assess how the various talent dimensions interlink to deliver the overall business strategy. Following a diagnostic the organisation will have a detailed report of the maturity of their Talent strategy, programme, processes and tools and technologies across a range of talent dimensions. Working with our clients, we can then develop a detailed plan and roadmap to achieve their desired state and ensure a holistic talent approach
Strategic Workforce Planning is another major component of talent analytics providing clients with insights and foresight into current and future talent segment related challenges and developments. We are committed to solving global client issues and driving value through the use of sophisticated analytics applied to all dimensions of global talent. To be successful, organisations need to ensure that their talent meets current and future needs. At the same time, companies need to be able to leverage large amounts of internal and external data to predict what future talent will look like, how employee behaviour develops over time and being to make fact-based, workforce-related decisions to meet critical business challenges and drive performance.
Performance management and reward strategy
Performance management and reward are key components of an organisation's Talent Strategy. Many organisations do not directly and strategically link reward and performance management to the delivery of the overall business strategy. We work with organisations to gain a clear understanding of the business and talent drivers that will enable us to support our clients in the development of a total rewards and performance management strategy that is future focused and aligned to the goals of the business.
This activity involves:
- The identification of an organisations Critical Workforce Segments, and understanding of how to retain the core skills required to make the organisation a success.
- The development of a rewards dialogue which is a systematic on-going, interactive process by which employees’ views, opinions, and preferences about rewards are gathered. The rewards dialogue can yield information that can be used to inform the company’s rewards designs. The importance of rewards dialogue is based on the belief that rewards would only achieve the results of employee attraction, motivation and retention if they are valued by employees. - we then develop reward and performance models that best support the business strategy, talent strategy and needs of the employees to ensure performance is optimised. Finally, we assist the organisation in the implementation of the selected reward and performance management strategy through detailed engagement plans.
Succession planning is the process by which businesses invest and develop employees to ensure there is optimum talent to allow progression to leadership positions. For many organisations succession planning is a strategic process to create a talent pipeline for all critical leadership roles. It involves understanding the critical skills needed for all such roles and developing the future leaders to prepare them for these roles. It is important for an organisations future to have an ongoing and consistent succession management programme in place for all senior and critical roles. Deloitte have a range of tools and methodologies to support organisations in the development and implementation of an annual succession management plan. This includes defining, designing, building, and measuring Talent within the organisation. An important part of our value proposition is to be able to bring robust and objective perspectives to this critical Talent management programme.
Deloitte will support the organisation by putting in place a structured and annualised succession planning process. This will provide organisations gaining a deep understanding of their key talent, core talent and those not performing to the level required thereby supporting key talent decisions and ensuring that a talent pipeline is available for all critical roles.
Deloitte was named a market leader in Kennedy’s assessment of Talent Management and Strategic Change Consulting Providers (Kennedy Global HC Management Consulting Marketplace 2011-2014).