Global Talent Management
Global Talent Management
For our operations to run efficiently and productively, it is imperative that we have the right people at the right place at the right time to execute our business plan. Our approach to talent management also increases employee satisfaction by linking their roles to the broader organizational mission, and through investments in employee development.
How We Engage
Global Talent Management is our approach to optimizing the utilization of our work force. This program encompasses three main areas:
Talent Pool Management and Development: Each year, our talent management efforts continue to have a greater impact on the business. We prepare employees in talent pools to take larger roles within the company through developmental assignments, training and executive coaching.
In 2010, 26 executives were promoted at Newmont from our existing Talent Pools and Development programs. Additionally, another 19 executives made lateral moves. This is in contrast to only 18 external executive hires. These moves demonstrate the quality of our talent management programs in enabling quick and accelerated moves for our executive talent, as well as the quality and ability of our executive workforce to perform cross-functionally and move nimbly across the organization.
A highlight of our talent management program in 2010 is the localization/succession planning efforts undertaken in Ghana. The Ghanaian government requires a nationalization plan to be presented detailing identified national successors for key roles and the timeframe in which the position will be nationalized. Newmont's nationalization plan was not only accepted by the Ghanaian government, but it is being highlighted by the government as the standard to which other companies should aspire.
In Nevada during 2010, Talent Management introduced a new program, Leading for Results, targeted at the Managers of Others pipeline level, and received significant positive feedback from program participants and managers. As a follow-up to the employee survey, supervisor communication training was rolled out for a targeted group of front-line operational foremen and general foremen, with the goal of enhancing communication with hourly employees.
Snapshot: Talent Development
Performance Management: Our performance management processes manage team and individual performance at all levels, ensuring achievement of business goals and objectives. They are linked with key business objectives, company goals and values, and management philosophy. We use a collaborative approach to help employees identify and use their talents in the best possible way. All of our employees and managers work together to define key performance objectives each year, track alignment to Newmont values and key objectives, and formally review performance at year-end. Employee performance assessments are used for compensation decisions, including personal annual bonuses and merit-based pay increases.
In 2010, Newmont saw global consistency in the Performance Management process as we globally evaluated and provided ratings at both midyear and year-end reviews (the midyear assessment was not an official rating, but it provides the employee with the benefit of understanding how their performance is trending).
With the globalization of various functions within Newmont, we also adjusted our calibration process to allow for meaningful, global calibration of performance across the organization. This broader approach to calibration ensures even greater consistency in the review process and the application of ratings across the organization.
Additionally in 2010, the People Development Center (PDC) was updated to enable employees to see the expected results specific to their Leadership Pipeline level. This eliminated the previous process of seeing results for all levels and helped to ensure that all employees had clarity regarding their Leadership Pipeline level and corresponding results.
The PDC has traditionally provided a view into the Corporate Strategic Objectives and Measures. In 2010, we were also able to enhance the PDC through alignment of Performance Management to the overall business by supporting the Safety Journey through pushing a Safety Goal to all employees, which was then individualized by each employee to indicate the employee's individual safety goal for 2011.
Snapshot: Newmont Leadership Pipeline
Succession and Organizational Planning: We include our employees in the process of defining current and future talent requirements, and in creating plans to close any necessary gaps. Through the integration of human resources assets and needs, we can make our strategic planning process more effective.
Talent Pool Management and Development: Each year, our talent management efforts continue to have a greater impact on the business. We prepare employees in talent pools to take larger roles within the company through developmental assignments, training and executive coaching.
In 2010, 26 executives were promoted at Newmont from our existing Talent Pools and Development programs. Additionally, another 19 executives made lateral moves. This is in contrast to only 18 external executive hires. These moves demonstrate the quality of our talent management programs in enabling quick and accelerated moves for our executive talent, as well as the quality and ability of our executive workforce to perform cross-functionally and move nimbly across the organization.
A highlight of our talent management program in 2010 is the localization/succession planning efforts undertaken in Ghana. The Ghanaian government requires a nationalization plan to be presented detailing identified national successors for key roles and the timeframe in which the position will be nationalized. Newmont's nationalization plan was not only accepted by the Ghanaian government, but it is being highlighted by the government as the standard to which other companies should aspire.
In Nevada during 2010, Talent Management introduced a new program, Leading for Results, targeted at the Managers of Others pipeline level, and received significant positive feedback from program participants and managers. As a follow-up to the employee survey, supervisor communication training was rolled out for a targeted group of front-line operational foremen and general foremen, with the goal of enhancing communication with hourly employees.
Snapshot: Talent Development
Performance Management: Our performance management processes manage team and individual performance at all levels, ensuring achievement of business goals and objectives. They are linked with key business objectives, company goals and values, and management philosophy. We use a collaborative approach to help employees identify and use their talents in the best possible way. All of our employees and managers work together to define key performance objectives each year, track alignment to Newmont values and key objectives, and formally review performance at year-end. Employee performance assessments are used for compensation decisions, including personal annual bonuses and merit-based pay increases.
In 2010, Newmont saw global consistency in the Performance Management process as we globally evaluated and provided ratings at both midyear and year-end reviews (the midyear assessment was not an official rating, but it provides the employee with the benefit of understanding how their performance is trending).
With the globalization of various functions within Newmont, we also adjusted our calibration process to allow for meaningful, global calibration of performance across the organization. This broader approach to calibration ensures even greater consistency in the review process and the application of ratings across the organization.
Additionally in 2010, the People Development Center (PDC) was updated to enable employees to see the expected results specific to their Leadership Pipeline level. This eliminated the previous process of seeing results for all levels and helped to ensure that all employees had clarity regarding their Leadership Pipeline level and corresponding results.
The PDC has traditionally provided a view into the Corporate Strategic Objectives and Measures. In 2010, we were also able to enhance the PDC through alignment of Performance Management to the overall business by supporting the Safety Journey through pushing a Safety Goal to all employees, which was then individualized by each employee to indicate the employee's individual safety goal for 2011.
Snapshot: Newmont Leadership Pipeline
Succession and Organizational Planning: We include our employees in the process of defining current and future talent requirements, and in creating plans to close any necessary gaps. Through the integration of human resources assets and needs, we can make our strategic planning process more effective.
