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The 3 m's of talent management in health care
December 01, 2016
Method, myth, minefield
Martin Fuchs, COO of PremiQaMed Group, was HR Global Director Talent Management of a pharmaceutical company for many years and hence has considerable experience working at the national and international levels.
In the following interview, the HR expert explains why talent management is vitally important, especially in health care, and what organizations - and individuals - can do in order to achieve long-term success.
Mr. Fuchs, why are more and more organizations, particularly in the health-care sector, setting up talent management programs?
Martin Fuchs: In fields where talents are a rare and precious resource, strategic talent management has become irreplaceable. Satisfied and motivated employees are the key to success, and this is especially true with regard to health care, considering the tremendous competitive pressure and the scarce supply of qualified medical professionals. So the crucial question is: How can organizations retain, nurture and develop their employees?
Which skills does someone have to bring to the table in order to be included in what is known as a talent pool?
Martin Fuchs: Experience shows that 90% of talents are high performers, but only 30% of high performers are talents. On the other hand, talents can be categorized according to 3 criteria: performance, leadership and potential. Performance refers to what people have achieved in the short term and in the medium term in relation to their goals, and how they have achieved it. The purpose of potential analysis is to analyze how successful somebody will likely be in the long run.
The well-known YSC potential model summarizes, in a nutshell, the 3 main factors that distinguish people in terms of their potential: influence (self-awareness, range of influence, environmental radar), drive (aspiration, initiative, self-assurance) and judgment (analytical rigor). The better you do in each of these categories, the more likely you are to be included in the talent pool. The specific criteria used depend on the organization in question.
Mr. Fuchs, many years ago, you started out as a “talent” in an international environment yourself? What personal advice can you give tomorrow's “talents”?
Martin Fuchs: I know from personal experience that there are some fundamentally important questions you need to ask yourself before striving to become a talent: Do I intend to develop into a generalist or a specialist? What training will help me reach my goal? Would I (and my family) be prepared to move abroad? Am I aware of the implications that becoming a talent will have on my personal life?
Answering these questions will be invaluably helpful when it comes to choosing the path that is right for you as a talent.