Talent and leadership :-
In a survey published in December, the Human Resources outsourcing and consulting firm, Hewitt Associates, ranks L’Oreal as Europe’s number one company for leaders. With 27 global brands and €20.3 billion in 2011 sales, L’Oreal Group dominates the global beauty-product market. And it has every intention of remaining number one, with a growth target for the next decade of more than 1 billion new customers. The linchpin of its growth strategy is building what the company calls its “talent advantage”. L’Oreal has adopted a strategic approach to developing its talent portfolio and allocating resources. Its purpose: to support growth by ensuring a steady supply of leaders and key competencies in critical geographies. Using quantitative models, HR and business leaders analyze anticipated business needs – such as sources of growth or expanded production – to identify the company’s future talent needs. They also examine HR’s needs; for example, how much on-boarding will be required as a result of recruitment efforts? Projecting out 5 years, leaders then calculate the number of people needed by geography, function, and managerial level. The modeling pinpoints oversupplies and gaps, enabling L’Oreal to take preventive action. For example, it allows the company to modulate the career pace of certain employee groups early enough to avoid frustrating talent in the event of a slowdown – or to accelerate it to fill any talent or experience gaps that might arise. HR also projects the costs and potential return on investment of various scenarios. “Talent planning helps us to strategize growth and to support our ongoing transformation”, said Jean-Claude Le Grand, global senior vice president of executive talent. This supply – and – demand methodology helps L’Oreal to efficiently leverage its multifaceted talent system, which is designed to boost executive talent development. The system involves the following:- ➢
Incentivizing leaders to...
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