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Transcript of Talent Management
Talent management refers to rewards, succession planning, training and career development... How to create 'Top Talent'
Talent management involves the focused bundling of groups of HR activities that are interrelated and mutually reinforcing – to manage the entire employee life cycle.
Woolworths Talent Managment & Succession Planning
Woolworths has a differentiated C
To a degree Woolworths also uses a
It's Main competitors are Coles and Aldi
Recommendations for Woolworths
1) Fresh Training Program
Woolworths Practices and Policies
Talent management requires 'Strategic Alignment' of rewards, training, development, career management and retention strategies (eg work-life balance policies)
Training and Development
Employee Engagement, Recognition and Rewards
Staff discount card
Access to the Woolworths employee Credit Union
Discounted private health insurance
The 25 Year Club.
Flexible work options
Participating employees to acquire
Woolworths’ shares using pre-tax rather than after-tax income. Through voluntary participation in this program,
17,883 employees were issued shares in 2013
Share Purchasing Plan
Peer to Peer 6,500 Thank you messages
$20,000 Scholarship for innovation
Employees at Woolworths have an online 'Talent Profile'
Management teams meet in a 'talent forum' to discuss the organisational health with regards to:
Skills, Experience and Overall Capabilities
Management teams annually participate in 'Talent Calibration' where managers will rank an individuals potential to take higher roles in 3-5years
Conducted twice a year
Uses a 5 point rating scale
4 stage process
The achievements against objectives
How performance was delivered in relation to values and behaviors
How performance compares to others
Woolworths focus on both Top Talent and building talent of all staff
When considering to implement internal talent management programs, external factors must be addressed.
First retail store was opened in 1924 on Pitt St in Sydney
Currently 931 supermarkets
190,000 Staff (1.5% of the Australian population)
Brand is synonymous with fresh food = strong partnership with Aussie farmers and the 1987 fresh food advertising campaign
Aim: to provide customers with exceptional service, products and price, whilst ensuring the employees define Woolworths as a great place to work
Key aspects in which the company strives to develop the qualities of its employees:
* Rewards and Achievements e.g flexible work options, parental leave, remuneration
* Culture and Strategy e.g women in leadership roles, high standards of health and safety
* Longevity of Service e.g pathways for casuals (school leavers) to full time employment, staff into management roles
* Training and Development e.g. induction programs, Fresh training, apprenticeships
Our People “are at the heart of our business”
Cash-based short-term incentive plan is made available to all managerial salaried employees.
The long-term incentive plan is offered to managers who play a critical role in the long-term success of the business, including executives, store managers and buyers.
Strong commitment to internal recruitment.
Typically, external recruitment focuses more on specialist and corporate roles.
Candidates sourced through a variety of channels including online job boards, industry magazines, recruitment agencies, employee referrals , career expos and press advertising.
“Whether someone is looking for a long term career, a technical skill, a casual job or just the chance to have a go, we can provide this for them. At Woolworths we are committed to having a diverse workforce” – Grant O’Brien, CEO.
Woolworths female senior executive leadership team has increased from 28.8% in 2012 to 36.7% in 2014, which exceeded the target of achieving 33% by 2015
Woolworths launched Reconciliation Action Plan – this plan has increased the participation of indigenous Australians from 949 – 2506 in 2013.
In June, 2013, Woolworths was awarded the Disability Employment Award for its disability recruitment program.
In 2010, Woolworths invested over $63 million into learning and development initiatives.
Executive Academic programs run through the Macquarie Graduate School of Management.
38 graduates employed in 2013, equaling a total of 68 graduates actively participating.
To reinforce the
"Fresh Food People"
3000 workshops conducted throughout Australia, with over 75,000 staff members
The Annual Woolworths Heroes Program
Paul Simmons Award
Joe Berry Award
Woolworths should put in place a measurement strategy that involves the participants giving feedback on their experience with the program and what suggestions they have to improve it.
2) Graduate Program
Further research is needed in measuring the staff turnover and retention of successful graduates in the long term.
Expectation need to be managed, as not all graduate are projected to high level management.
3) The Online Talent Profile
Less Tech-Savvy employees may miss out on opportunities as Woolworths moves its 'Talent Management Platform' online.
Further support and alternatives are needed to assist employees in this transition.
Does anyone work at Woolworths?
Would anyone like to share their insights into talent management where they work.
& are there any differences with Woolworths
What benefits are most important to you
& what do you expect from your employer to manage your talent?