g-f(2)2271 Maximizing Talent Returns: The Key Moves and Metrics

 

genioux Fact post by Fernando Machuca and Copilot

Introduction 

The McKinsey article “Increasing your return on talent: The moves and metrics that matter” provides a comprehensive guide on how organizations can maximize their return on talent. It emphasizes the importance of viewing employees as an organization’s largest investment and deepest source of value, and outlines five key actions that organizations can take to achieve this.

genioux GK Nugget 

"Talent is the deepest source of value in an organization, and maximizing its return requires strategic planning, effective hiring, continuous learning, a performance-oriented culture, and an elevated HR model." — Fernando Machuca and Copilot, April 22, 2024

genioux Foundational Fact

The article underscores the importance of talent in an organization and suggests that companies that put talent at the center of their business strategy realize higher total shareholder returns than their competitors. It outlines five key actions: building a skills-based strategic workforce planning capability, creating a hiring engine that brings in the right talent, investing in learning and development, establishing a stellar performance-oriented culture, and elevating HR’s operating model to become a true talent steward.

The 10 most relevant genioux Facts

1. Talent is an organization’s largest investment and deepest source of value.
2. Companies that center their business strategy around talent realize higher total shareholder returns.
3. Building a skills-based strategic workforce planning capability ensures the right talent in the right roles.
4. Creating a hiring engine that brings in the right talent is crucial for filling critical roles.
5. Investing in learning and development provides employees with opportunities for continuous growth.
6. Establishing a performance-oriented culture values high performance and rewards employees accordingly.
7. Elevating HR’s operating model to become a true talent steward transforms HR into a strategic partner.
8. These actions should intersect with and reinforce one another for maximum effectiveness.
9. Skills-based hiring should be supported by tailored learning journeys and performance evaluations.
10. A strategic and less siloed talent system generates higher returns over the long term.

Conclusion 

In conclusion, the McKinsey article “Increasing your return on talent: The moves and metrics that matter” provides valuable insights into how organizations can maximize their return on talent. By implementing the five key actions outlined in the article, organizations can create a strategic and less siloed talent system that generates higher returns over the long term. This approach not only benefits the organization but also contributes to the personal and professional growth of its employees.

REFERENCES

The g-f GK Article

Vincent Bérubé, Ben Fogarty, Neel Gandhi, Rahul Mathew, Marino Mugayar-Baldocchi, and Charlotte Seiler, Increasing your return on talent: The moves and metrics that matter, McKinsey, April 15, 2024.

ABOUT THE AUTHORS

Vincent Bérubé is a senior partner in McKinsey’s Montreal office; Ben Fogarty is a senior data scientist in the Boston office; Neel Gandhi is a partner in the New York office, where Rahul Mathew is an associate partner and Marino Mugayar-Baldocchi is a research science expert; and Charlotte Seiler is an associate partner in the Bay Area office.

Classical Summary

[1]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[2]: https://ralionline.com/newsinsights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter/

[3]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/how-we-help-clients/talent

The McKinsey article "Increasing your return on talent: The moves and metrics that matter" emphasizes the importance of viewing employees as an organization's largest investment and deepest source of value¹[1]. The article suggests that companies that put talent at the center of their business strategy realize higher total shareholder returns than their competitors¹[1].

The article focuses on five actions that organizations can take to maximize their return on talent¹[1]:

1. Build a skills-based strategic workforce planning capability: This involves having the right talent in the right roles and giving employees the support and opportunities they need to succeed¹[1].

2. Create a hiring engine that brings in the right talent to fill critical roles: This is about ensuring that the organization is attracting and recruiting the right people¹[1].

3. Invest in learning and development: This involves providing employees with opportunities for continuous learning and growth¹[1].

4. Establish a stellar performance-oriented culture: This is about creating a culture that values high performance and rewards employees accordingly¹[1].

5. Elevate HR’s operating model to become a true talent steward: This involves transforming HR into a strategic partner that can effectively manage talent¹[1].

The article emphasizes that these actions should not be taken in isolation, but rather, they should intersect with and reinforce one another¹[1]. For example, skills-based hiring should be supported by tailored learning journeys and performance evaluations that provide clear and timely feedback on skills development¹[1]. When combined, these five actions can help leaders establish a truly strategic and less siloed talent system that generates higher returns over the long term¹[1].

Source: Conversation with Bing, 4/24/2024

(1) Increasing your return on talent: The moves and metrics that matter. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(2) Increasing your return on talent: The moves and metrics that matter. https://ralionline.com/newsinsights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter/.

(3) Talent | People & Organizational Performance | McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/how-we-help-clients/talent.

Vincent Bérubé

[1]: https://www.mckinsey.com/our-people/vincent-berube

[2]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[3]: https://www.theglobeandmail.com/partners/advappointmentnotices/vincent-berube/article22756997/

[4]: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/digital-transformations-the-five-talent-factors-that-matter-most

Vincent Bérubé is a Senior Partner at McKinsey & Company, based in the Montreal office¹[1]. He leads the firm's artificial intelligence (AI) work in Canada and is a member of the firm’s global executive committee on advanced analytics¹[1]. Bérubé contributes to the development of the firm’s approach to analytics-based transformations and the adoption of AI by frontline personnel¹[1]. He also founded and manages McKinsey’s deep-learning lab in Montreal¹[1].

Bérubé helps clients define their AI and digital strategies and execute at-scale transformations to capture the benefits of these technologies¹[1]. He also assists investors and financial institutions in optimizing their strategies, business models, and capital allocations in anticipation of long-term technological, social, and macroeconomic shifts¹[1].

In addition to his leadership roles, Bérubé has made significant contributions to McKinsey's research and published work. He has co-authored several articles, including "Increasing your return on talent: The moves and metrics that matter," which provides insights on how organizations can maximize their return on talent¹[1]²[2].

Bérubé holds a PhD in Physics from the Massachusetts Institute of Technology and a BS in Physics from Université Laval¹[1].

Source: Conversation with Bing, 4/24/2024

(1) Vincent Bérubé | McKinsey & Company. https://www.mckinsey.com/our-people/vincent-berube.

(2) Increasing your return on talent: The moves and ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(3) Vincent Bérubé - The Globe and Mail. https://www.theglobeandmail.com/partners/advappointmentnotices/vincent-berube/article22756997/.

(4) Talent in digital transformations | McKinsey. https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/digital-transformations-the-five-talent-factors-that-matter-most.

Ben Fogarty

[1]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[2]: https://github.com/fogarty-ben

[3]: https://econsultancy.com/a-day-in-the-life-of-ben-fogarty-founder-and-ceo-of-holoscribe/

Ben Fogarty is a Senior Data Scientist in Organizational Analytics at McKinsey & Company¹[2]. He is based in Cambridge, MA¹[2]. Fogarty has made significant contributions to McKinsey's research and published work, including co-authoring the article "Increasing your return on talent: The moves and metrics that matter"²[1].

In addition to his role at McKinsey, Fogarty is also active in the broader data science community. His GitHub profile indicates involvement in several projects, including an implementation of quantile regression for Julia modeled after the R quantreg package¹[2].

Fogarty holds a Master's degree in Computational Analysis and Public Policy (CAPP) and a Bachelor's degree in Economics, both from the University of Chicago¹[2].

Source: Conversation with Bing, 4/24/2024

(1) fogarty-ben (Ben Fogarty) · GitHub. https://github.com/fogarty-ben.

(2) Increasing your return on talent: The moves and ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(3) A day in the life of… Ben Fogarty, founder and CEO of Holoscribe. https://econsultancy.com/a-day-in-the-life-of-ben-fogarty-founder-and-ceo-of-holoscribe/.

Neel Gandhi 

[1]: https://www.mckinsey.com/our-people/neel-gandhi

[2]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[3]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/neel-gandhi

Neel Gandhi is a Partner at McKinsey & Company, based in New York¹[1]. He advises leading organizations on how to strengthen their talent-management capabilities and build an HR function that operates as a true strategic partner and value driver for the business¹[1]. Gandhi focuses on HR and talent strategy and on productivity¹[1]. He is passionate about the power of people and specializes in advising clients on how HR and talent can create maximum value for their organizations¹[1].

Gandhi regularly helps industry leaders and global organizations to improve their HR operations, talent-management capabilities, and efficiency, along with their broader business-support structures and processes¹[1]. He also helps organizations maximize performance by establishing a diverse, equitable, and inclusive workforce¹[1]. A seasoned adviser on mergers and acquisitions, Gandhi has led the HR planning and integration process for major transactions in various industries¹[1].

Gandhi has co-authored several articles, including "Increasing your return on talent: The moves and metrics that matter," which provides insights on how organizations can maximize their return on talent¹[1]²[2]. He also understands the dynamics and restrictions under which public-sector organizations operate¹[1].

Source: Conversation with Bing, 4/24/2024

(1) Neel Gandhi | McKinsey & Company. https://www.mckinsey.com/our-people/neel-gandhi.

(2) Increasing your return on talent: The moves and ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(3) Neel-Gandhi | People & Organization Blog | McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/neel-gandhi.

Rahul Mathew 

[1]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[2]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/rahul-mathew

[3]: https://www.mckinsey.com/about-us/new-at-mckinsey-blog/mckinsey-and-ceo-works-a-new-approach-to-managing-talent

Rahul Mathew is an Expert Associate Partner at McKinsey & Company, based in the New York office¹[1][1]. He has made significant contributions to McKinsey's research and published work, including co-authoring the article "Increasing your return on talent: The moves and metrics that matter"¹[1][1]. Mathew's work focuses on helping organizations strengthen their talent-management capabilities and build an HR function that operates as a strategic partner and value driver for the business¹[1][1]. He has also been involved in helping a major industrial company that wanted to double revenues in 5 years, in part by expanding into Asia, through mergers and acquisitions and developing a digital sales channel²[3][3].

Source: Conversation with Bing, 4/24/2024

(1) Increasing your return on talent: The moves and ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(2) McKinsey and CEO.works: A new approach to managing talent. https://www.mckinsey.com/about-us/new-at-mckinsey-blog/mckinsey-and-ceo-works-a-new-approach-to-managing-talent.

(3) Rahul-Mathew | People & Organization Blog | McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/rahul-mathew.

Marino Mugayar-Baldocchi 

[1]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/great-attrition-or-great-attraction-the-choice-is-yours

[2]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/gone-for-now-or-gone-for-good-how-to-play-the-new-talent-game-and-win-back-workers

[3]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/marino-mugayar-baldocchi

[4]: https://thai-iod.com/en/publications-detail.asp?id=764

[5]: https://www.mckinsey.com/~/media/mckinsey/business%20functions/people%20and%20organizational%20performance/our%20insights/european%20talent%20is%20ready%20to%20walk%20out%20the%20door%20how%20should%20companies%20respond/european-talent-is-ready-to-walk-out-the-door-how-should-companies-respond.pdf

Marino Mugayar-Baldocchi is a Partner at McKinsey & Company¹[3]. He partners with organizations to provide research-backed expertise on leadership, talent management, learning and development, and future of work topics¹[3]. Mugayar-Baldocchi has contributed to several McKinsey research projects, including studies on the Great Attrition talent trend²[1]³[2]⁴[5]. His work helps organizations understand why employees are leaving and how to respond effectively²[1]³[2]⁴[5]. He emphasizes the importance of taking employees' whole lives into account when redefining attraction and retention strategies³[2].

Source: Conversation with Bing, 4/24/2024

(1) Marino-Mugayar-Baldocchi | People & Organization Blog - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/author/marino-mugayar-baldocchi.

(2) How companies can turn the Great Resignation into ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/great-attrition-or-great-attraction-the-choice-is-yours.

(3) Competition for talent after the Great Resignation | McKinsey. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/gone-for-now-or-gone-for-good-how-to-play-the-new-talent-game-and-win-back-workers.

(4) European talent is ready to walk out the door. How ... - McKinsey & Company. https://www.mckinsey.com/~/media/mckinsey/business%20functions/people%20and%20organizational%20performance/our%20insights/european%20talent%20is%20ready%20to%20walk%20out%20the%20door%20how%20should%20companies%20respond/european-talent-is-ready-to-walk-out-the-door-how-should-companies-respond.pdf.

(5) Thai Institute of Directors. https://thai-iod.com/en/publications-detail.asp?id=764.

Charlotte Seiler

[1]: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter

[2]: https://www.mckinsey.com/~/media/mckinsey/email/shortlist/213/2023-05-05b.html

[3]: https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/cracking-the-code-on-digital-talent

Charlotte Seiler is an Expert Associate Partner at McKinsey & Company¹[1][2][3]. She has made significant contributions to McKinsey's research and published work, including co-authoring the article "Increasing your return on talent: The moves and metrics that matter"¹[1][2]. Seiler's work focuses on helping organizations strengthen their talent-management capabilities and build an HR function that operates as a strategic partner and value driver for the business¹[1][2]. She has also been involved in research on how to attract and retain top digital talent²[2][3].

Source: Conversation with Bing, 4/24/2024

(1) Increasing your return on talent: The moves and ... - McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/increasing-your-return-on-talent-the-moves-and-metrics-that-matter.

(2) The Shortlist: Get real about generative AI - McKinsey & Company. https://www.mckinsey.com/~/media/mckinsey/email/shortlist/213/2023-05-05b.html.

(3) How to attract and retain top digital talent | McKinsey. https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/cracking-the-code-on-digital-talent.

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REFERENCES

“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)2271, Fernando Machuca and Copilot, April 22, 2024, Genioux.com Corporation.

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