medtronic strategic workforce planning for ntmn 0316

WELCOME TO MEDTRONIC NEW TALENT MANAGEMENT NETWORK!

March 17, 2016

PRESENTED BY: WHITNEY GIGA, MEDTRONIC, PLC PROGRAM MANAGER, STRATEGIC WORKFORCE PLANNING OFFICE +1.763.526.6315 MOBILE +1.612.701.3137 [email protected] HTTP://WWW.LINKEDIN.COM/IN/WHITNEYGIGA TWITTER: @WHITNEYGIGA

mailto:[email protected]

http://www.linkedin.com/in/whitneygiga

WHAT DO YOU KNOW ABOUT MEDTRONIC?

3

A RICH PAST: FROM HUMBLE BEGINNINGS, A TRACK RECORD FOR PATIENT FOCUS, PRODUCT QUALITY AND INNOVATION

WHAT IF WE HELP REMOVE THE BARRIERS TO CARE WORLDWIDE?

Medtronic At A Glance: https://youtu.be/HPTgaHb8pSw

Our Future: Further, Together: https://youtu.be/BHm-lVC7EjQ

TOGETHER, WE CAN.

WHAT IF WE COULD TO MORE?

Medtronic Strategic Workforce Planning, NTMN Minneapolis | March 17, 2016 | Do Not Publish Without Permission

https://youtu.be/HPTgaHb8pSw

https://youtu.be/BHm-lVC7EjQ




4

A PORTFOLIO DESIGNED TO IMPROVE CARE WE’RE CREATING TECHNOLOGIES THAT TREAT CHRONIC DISEASES IN NEW WAYS, SO PEOPLE CAN LIVE BETTER, LONGER.

Cardiac Rhythm Heart Failure

Diabetes

Spine

Endovascular Therapies

Structural Heart

Neuromodulation

Coronary

Surgical

Technologies

“We will step forward and encourage the industry to

collaborate with us to transform healthcare.”

OMAR ISHRAK, CHAIRMAN AND CEO


5

MEDTRONIC FOUNDATION MISSION FOCUSED

Building Healthy Communities

Removing Barriers to Care

Empowering Patients

Activating Employees


EXCEPTIONAL EMPLOYEES ARE CENTRAL TO OUR MISSION

6 Medtronic Strategic Workforce Planning, NTMN Minneapolis | March 17, 2016 | Do Not Publish Without Permission

7

AN ENDURING MISSION – 1960! To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.

To direct our growth in the areas of biomedical engineering where we display maximum strength and ability; to gather people and facilities that tend to augment these areas; to continuously build on these areas through education and knowledge assimilation; to avoid participation in areas where we cannot make unique and worthy contributions.

To strive without reserve for the greatest possible reliability and quality in our products; to be the unsurpassed standard of comparison and to be recognized as a company of dedication, honesty, integrity, and service.

To make a fair profit on current operations to meet our obligations, sustain our growth, and reach our goals.

To recognize the personal worth of employees by providing an employment framework that allows personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company's success.

To maintain good citizenship as a company.

Our founder Earl Bakken with medallion


STRATEGIC WORKFORCE PLANNING AT MEDTRONIC

MANY COMPANIES ARE ON THE SWP “JOURNEY”


We were / are here: Heavy Finance & AOP-

driven

Single year focus

If/When there are skills / gap analysis being done it is ad hoc, not systematically captured or used for planning

Josh Bersin by Deloitte Strategic Workforce Planning Maturity Model

FIRST, WE NEEDED TO BUILD THE FOUNDATION

Most companies that have been doing SWFP are here a few years in


NEW BUSINESS STRATEGIES + NEW TALENT NEEDS + TALENT SUPPLY RISKS

11

A PERFECT STORM

Therapy Innovation

Globalization

Economic Value

Scarce Critical Skills

Limited Talent Mobility

Competitive Talent Markets

Emerging Critical Skills

Disengaged Key Talent Segments

Common Talent Supply Risks

Pending Retirements

Pressure to Hit Short-Term Targets + Focus on Immediate Staffing Needs


New HR Strategies and Guiding Principles

Effective Efficient Aligned

WHAT IS STRATEGIC WORKFORCE PLANNING?

It is a facilitated strategic conversation about the business strategy and the talent implications > 1 year out

The goal is a defined capability and capacity gap analysis with a corresponding action plan, that is used to

reduce business strategy execution risks associated with workforce capacity, capability, and availability

In best practice it is:

– An ongoing process to identify the workforce needs for the future (i.e. reviewed/refreshed regularly)

– Plans are used for a variety of talent planning decisions (support talent development nominations, for AOP planning

purposes, retention strategies, hiring plans)

– A way to more purposefully connect and transparently show the connections and integrations between our HR processes

& business strategy

– Something all organizations have somehow, but for key areas the plans may be more detailed

What it is not

Headcount / Requisition Forecasting

Not overtly focused on addressing culture, org structure, or process

12

“Capability” Defined: Skills, Competencies, Knowledge, Abilities


STRATEGIC WORKFORCE PLANNING ENTERPRISE FRAMEWORK

BUSINESS STRATEGY

PHASED, MULTI-YEAR TALENT STRATEGIES

BUILD BUY

BORROW BIND

BOUNCE

TALENT SUPPLY & DEMAND GAP ANALYSIS

13

DEMAND • Competitive Differentiation • Environmental Scan + Scenario Planning • Skills/Capabilities Demand • Inefficiencies

SUPPLY • Internal- Current Labor Supply Data

– Potential Future Surplus • External- Labor Market Forecasts

PRIORITIZED KEY GAPS

Reduces Risk

Proactive Strategies vs. Reactive

Deliver Business Results

Increases Alignment


Engage

Develop

Deploy

Lead

Retain

Evaluate

Plan

Acquire

Talent Life Cycle

Key Talent and

Capabilities Required

BUSINESS STRATEGY

STRATEGIC WORKFORCE

PLANNING

Talent Results

TALENT MANAGEMENT PRACTICES

TALENT INVESTMENTS

OPTIMIZED

BUSINESS RESULTS

Business Goals

Achieved

Risks Reduced

14

WITH SWP, CREATE A MULTI-YEAR, INTEGRATED & PERSONALIZED TALENT MANAGEMENT STRATEGY

SWP helps organizations identify the most critical gaps and actions needed, creating a roadmap that can help focus

and personalize their talent management efforts; informs who to nominate for programs, who to hire, who to

promote, who to retain



STRATEGIC WORKFORCE PLANNING PROCESS FLOW MAP

16

HOW TO ASSESS IF / WHEN YOUR BUSINESS NEEDS SWP

If there is significant change is forecasted (new business strategies, stretch targets,

discussion of talent gaps/worries won’t achieve goals, or major org changes afoot)

If they don’t feel the HR programs are connected enough to them / their business needs

If they don’t have aligned teams on areas to prioritize investments

If there are a couple very different possible future states (“we could go this way or this way”) and they have not formalized the talent implications of either scenario

If they are missing awareness of (or concerned about) the talent labor pool changes going

on around them (boomer retirements, rising labor costs for our industry, engagement is

poor/worries of talent poaching risks, talent mobility challenges, competitive talent markets, scarce critical skills)

If there is acknowledgement of a need for change but stuck in “analysis-paralysis” of what

the right change should be, when, what it should be, etc.

If leaders are struggling to look at their talent more than one AOP cycle out

These are all reasons to consider SWP!


17

RESOURCES

Human Capital Institute (HCI)

Conference, webexes, SWP certification course

Conference Education Board

Step-by-step Toolkit

Data Vendor / Consultant free webexes

Books written by people who have done this work, ex. Tracey Smith (ex-FedEx)

Benchmark / network with people doing this work

LinkedIn Groups

Friendly local SMEs


medtronic strategic workforce planning for ntmn 0316

Documents