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TALENT TRANSITIONS -WINNER OF 2008 HFMA AWARD

Click on thumbnail to see article on the award published in HFMA Magazine December 2008

 

Click HERE for more details on the Talent Transitions Report

Click on thumbnail to see article on the follow up Talent Management Toolkit published in     HFMA Magazine March 2010

 

Click HERE for more details on the Talent Management Toolkit

 

HFMA 2008.pdf
HFMA 2010.pdf

Background on the Talent Transitions Research and the subsequent Talent Management Toolkit launched for Finance Directors across NHS London in 2009.

 

 

At the HFMA annual conference in 2007, Director General of NHS finance, performance and operations David Flory raised concerns about the paucity of applications for top finance jobs, both at national and local level.

 

He asked if the profession was unhealthy and why it had problems recruiting finance directors from the internal talent pool.

 

A year on, an NHS London project that aimed to answer Mr Flory’s concerns and help develop the finance leaders of the future has won the HFMA Jon Havelock Award.

 

The Jon Havelock Award recognises a significant contribution made by an individual finance professional or finance team to financial performance or financial management. Judges said the SHA’s talent management research exercise, as the project was known, provided excellent research on a key issue for the NHS finance function.

 

There is a dearth of high-quality applicants for finance director positions from within the NHS in the capital and the research aimed to find ways to enhance recruitment, retention and development of current finance staff on the career path to finance director and other

senior positions.

 

Judges were impressed by the research and its potential impact and use in other parts of

the NHS. ‘This piece of work provides excellent  research on a key issue for the NHS finance function and provides clear messages for the future development of band eight/nine finance professionals, succession planning and talent management,’ they said. ‘It is a well researched and innovative project that can easily be transferred to other SHAs and NHS organisations. It provides excellent value for money and offers an extremely useful framework for future work in this area.’

 

A further year on, from winning the Jon Havelock Award, the partnership between the FSD unit at NHS London headed by Sotiris Kyriacou, and specialist consultant, Roland Richards of the Amber Partnership has produced another important output.

 

Their recently released ‘Talent Management Toolkit’ provides in-depth support to guide and assist finance directors to develop talent within their organisations.

 

It enables finance directors to track talent among their staff and effectively support talent development. It can be used to create a pool of talent ready to become deputy finance directors and finance directors, and this is consistent with the FSD infrastructure adopted by all 10 SHAs.  

 

The toolkit is designed to guide Finance Directors through each stage in developing and putting in place a local talent management strategy and assumes a zero level baseline.  Therefore it provides templates and source documents to allow FDs to establish and implement a strategy from scratch.  

 

Key features include a talent tracking and assessment tool to assist succession planning and for analysing the local workforce to identify those with potential to progress, plus a process for prioritising development requirements, and also, detailed support materials to guide the development of local talent.

 

Ultimately the outcomes of using this toolkit should be high performing staff, effectively progressing through their career paths, being developed appropriately on the journey.