Best Practice #3: You must know what
you’re looking for—the role of Success
ProfilesSM.
Numerous studies show that companies
with better financial performance are more
likely to use competencies as the basis for
succession management, external hiring, and
inside promotions. Research highlights
include:
> The Aberdeen Group found 53 percent of
best-in-class companies have clearly
defined competency models, compared to
just 31 percent of other organizations
(which post less impressive performance).15
> Aberdeen research also shows that best-inclass
organizations are 45 percent more
likely to have models for key positions16
and 64 percent more likely to have models
for all levels of their organizations than
other organizations. 17
> Research from the Hewitt Group illustrates
that top global companies consistently
apply their competency models across the
organization, and their competencies are
significantly more aligned with overall
business strategies. Eighty-four percent of
top global companies demonstrated alignment,
compared to just 53 percent of
other organizations.18
The power of competencies broadens when
organizations use what we call “Success
ProfilesSM.” There are two reasons this
approach is more effective than mere competency
models. First and foremost, Success
ProfilesSM are designed to manage talent in
relation to business objectives—they should
reflect key plans and priorities as well as
change with new strategies. Additionally,
they go beyond just competencies to
include four complementary components:
> Competencies: A cluster of related
behaviors that is associated with success
or failure in a job.
> Personal Attributes: Personal dispositions
and motivations that relate to satisfaction,
success, or failure in a job.
> Knowledge: Technical and/or professional
information associated with successful
performance of job activities.
> Experience: Educational and work
achievements associated with successful
performance of job activities.
The end result: detailed definitions of what
is required for exceptional performance in
a given role or job. Success Profiles can be
used across the entire spectrum of talent
management activities—from hiring and
performance management to development.
Best Practice #4: The talent pipeline is
only as strong as its weakest link.
Many organizations equate the concept of
talent management with senior leadership
succession management. While succession
planning is obviously important, our belief is
that talent management must encompass a
far broader portion of the employee population.
Value creation does not come from
senior leadership alone. The ability of an
organization to compete depends upon the
performance of all its key talent, and its
ability to develop and promote that talent.
Many people know this as a Leadership
PipelineSM. Figure 2 illustrates DDI’s
approach to managing talent using a
Leadership PipelineSM strategy