The following flow chart illustrates the implemented dynamic process:
The new Talent Management & Retention process was implemented in 2008, which aims to reinforce attentive, individualised management of staff considered to have managerial talent and/or high value for the Company.
The first step involved identification of a pool of talented young people in the Group - about 250 individuals (3% of the total) through meetings with business unit/department heads and top management.
Personalised, challenging professional growth paths were then defined for the short term (1-2 years). The semi-annual monitoring of the talent pool was implemented according to a specific set of KPIs that permit assessments of their performance, the results they achieve and the degree of implementation of the development plan.
Finally, specific meetings were defined and held at the sector and country levels, in order to track individual progress on growth and development paths by the members of the talent pool. Opportunities for the Group’s young talents and/or Strategic Resources to meet top management were also organised.
The new process introduces intense centralised coordination by corporate HR departments in the management of talents worldwide, guaranteeing implementation of the process. Both the decision-making process for development actions and their short and medium-term monitoring will be guaranteed through the Talent Development Committees at the central and country business unit levels.