This program is designed to help distributors develop a competitive advantage through human capital development. Making human capital a competitive advantage for organizations is a long-term process that requires a clear vision, holistic thinking, strategic planning, carefully crafted strategies, and multi-party collaborations.
The course is based on the Optimizing Human Capital Framework that was produced as a result of a two-year applied research and extensive fieldwork as a part of the Human Capital Development Consortium, a research collaboration with 18 leading wholesale distribution companies in the United States.
The research efforts generated a diverse set of best practices including five key Talent Practices, which will be taught during a 2-day session with the Talent Assessment and Talent Development tools. This can also be run as a Custom Program.
- Explore competency based development methods
- Learn best practices in training needs analysis, development analysis
- Learn the use and application of Talent Improvement and Development tools
- Understand the connection between talent investments to financial metrics
- Create Holistic talent strategy that aligns with your business strategy
- Evaluate your talent planning and acquisition practices
- Evaluate proven assessment tools to access your employees
Developing talent is business’ most important task- the sine qua non of competition in a knowledge economy.
Who Should Attend
Senior management responsible for sales, operations, and growth.
Human resource leaders, managers, and professionals.
Organization development, training managers and professionals.
Profit center and business development managers.
Slides as a course booklet
Workbook for exercises and activity
Fundamentals of Industrial Distribution- the Sales Process book
Optimizing Distributor Profitability book
List of key growth challenges
List of human resource challenges
Dr. Jia Wang
Dr. Norm Clark, and
Dr. Bharani Nagarathnam
Day 1: 8:30am-4:00pm
8:30-9:00 Welcome and Introductions
9:00-9:30 Human Capital Development Overview
9:30-10:00 Overview of OHCD Process Map
10:15-12:00 Talent Planning
1:00-2:15 Talent Acquisition
2:30-4:00 Talent Management
Day 2: 8:00am-12:00pm
8:30-10:00 Talent Development
10:15-11:30 Talent Retention
11:30-12:00 Summary and Discussion
12:00 Lunch and Adjournment
Strategic Planning addresses multiple ‘where’ questions. Where do you want to go as a company? Where do you stand in the marketplace? Where should you start in the talent development process? To answer these three questions requires Strategic Planning in two areas: (1) planning for business strategy and then (2) planning for talent strategy. Talent strategy defines the ways in which an organization allocates its human resources to accomplish its mission. If the business strategy is a map for a company’s journey, then the talent strategy can be considered the vehicle to take the company from the start to the destination. Therefore, talent strategy must be aligned with the business strategy.
The second core component of the course focuses on Talent Practices. It addresses the ‘what’ question: what does it take to develop the talent you need? We categorize Talent Practices into five core areas: Talent Planning, Talent Acquisition, Talent Management, Talent Development, and Talent Retention, each representing one phase of the talent process. Within each core area, there are five key sub-areas, which leads to a total of twenty-five talent practices for consideration.
Talent Planning is about assessing your organization’s current talent capacity and forecasting future needs. To ensure the effectiveness of talent planning, organizations must engage in five key activities. They are (1) Cultural Assessment, (2) Talent Gap Analysis, (3) Talent Forecasting, (4) HR Structuring & Skilling, and (5) Talent Analytics.
Talent Acquisition is about adding human resources to the organization based on the needs identified through Talent Planning. The five key activities related to talent acquisition are (1) Personality/Competence Assessment, (2) Job Design, (3) Talent Sourcing, (4) New Hire Onboarding, and (5) Managerial Onboarding.
Talent Management is about managing individual performance to achieve optimal business results. This process involves five key activities: (1) Organizational Design, (2) Performance Planning, (3) Performance Analysis, (4) Performance Evaluation, and (5) Performance Improvement.
Talent Development is about bringing out individual potential through learning and development (Figure 6). To accomplish this goal, five key activities need to be implemented: (1) Job Training, (2) Career Development, (3) Succession Planning & Management, (4) High-Potential Development, and (5) Leadership Development.
Talent Retention is engaging and retaining individuals for the organization’s long-term sustainability. To do so, you must motivate and incentive employees by (1) providing competitive compensations and benefits programs, (2) adopting effective engagement strategies, (3) having a meaningful off-boarding/exit process in place, (4) managing multigenerational
workforce, and (5) managing change.
The third component of the course addresses the ‘how’ question. How are you doing with your talent practices? And, how can you improve your talent practices? To help you answer these two questions, we have identified or developed a number of Talent Tools for purposes of assessment and improvement. Assessment Tools (39 in total) can be used to examine your company’s current status, and to benchmark your talent practices off the ‘best practices’ we identified from real-life organizations, as well as academic and practitioner literature. Improvement Tools (29 in total) are our recommendations for strategies that you may use to close the gaps revealed by your assessment results.
The final component of the framework is Outcome Metrics. It addresses the ‘why’ question: Why do you capitalize on the talent you have? As an old saying goes, what gets measured, gets done. While distributors utilized many metrics to gauge their level of success in sales and operations for a long time, they have rarely used financial metrics to measure their employee development investments. This is largely because talent initiatives are often difficult to quantify due to the nature of the intervention, variability in talent improvements, difficulty of linking employees’ performance improvements to business process improvements (directly or indirectly), and the lack of visible immediate effect on profitability. To help address this issue, our framework included a number of outcome metrics, which we classified into three groups: Process Outcomes, Financial Elements, and Financial Metrics.