Talent Management In Deepocean: Nurturing Growth And Retaining Top Talent

In today’s competitive business landscape, talent management is crucial for organizations like DeepOcean to attract, develop, and retain skilled individuals. For our business, people are key to succeed!

This article explores the key aspects of talent management in DeepOcean, including people reviews through leadership panel evaluations, strategic succession planning, annual development dialogues, development plans, educational steps to take, and the implementation of the 70/20/10 model.

People Review Through Leadership Panel Evaluation

DeepOcean recognizes the significance of assessing employee performance and potential through people reviews conducted via leadership panel evaluations. All people are evaluated on their business results, and their leadership behaviour. What you do, and how you do it. By involving a diverse panel of leaders, these evaluations provide a comprehensive assessment of an individual’s strengths, areas for improvement, and future growth potential. Such evaluations enable companies to make informed decisions regarding promotions, targeted development opportunities, or lateral moves. By leveraging the collective expertise of the panel, DeepOcean ensures fair and unbiased evaluations, fostering a culture of transparency and trust.

“Through Our Continued Commitment To Talent Management, Deepocean Remains Dedicated To Nurturing And Retaining Exceptional Teams And Talent, Ensuring Our Continued Success And Further Establishing Ourselves As A Leader In The Industry”

Strategic And Structured Succession Planning

DeepOcean’s talent management strategy includes strategic and structured succession planning to identify and develop future leaders. By proactively assessing key roles and associated competencies, DeepOcean identifies potential successors within the organization. Through a structured approach, these individuals are provided with targeted development initiatives, mentoring relationships, and challenging assignments to prepare them for higher-level positions. This approach minimizes leadership gaps, ensuring a smooth transition when key positions become vacant and preserving institutional knowledge and continuity. All new managers, gets an extensive leadership development program, to prepare them for their new role.

Annual Development Dialogue Between Line Manager And Employee

DeepOcean recognizes the importance of fostering open and regular communication between line managers and employees through annual development dialogues. These structured conversations create a platform for employees to discuss their career aspirations, growth goals, and development needs. Line managers can align individual aspirations with organizational objectives, identify suitable growth opportunities, and provide continuous feedback and coaching. By fostering a supportive environment for skill development and career progression, DeepOcean encourages employees to take ownership of their growth journey while ensuring their alignment with the company’s strategic direction.

Development Plan And Potential To Grow Into The Next Position

To facilitate career advancement and growth, DeepOcean emphasizes the creation of individualized development plans. These plans outline the specific actions, resources, and timelines required for employees to acquire new skills and experiences, through the development dialogue process. By identifying their potential to grow into the next position, organisations can tailor development initiatives to address competency gaps effectively. This approach ensures that employees are adequately prepared for future opportunities and nurtures a culture of continuous learning and development. By showcasing commitment to employees’ professional growth and advancement, DeepOcean can attract and retain top talent.

Education Steps To Take

Education plays a pivotal role in talent management. To empower employees to enhance their knowledge and skills, DeepOcean provides various educational opportunities such as training programs, workshops, certifications, and access to external learning resources. By encouraging employees to engage in continuous learning, firms can foster a culture of innovation, adaptability, and excellence.

The 70/20/10 Learning Model

DeepOcean leverages the 70/20/10 model for talent development, recognizing the different sources of learning. This model suggests that individuals acquire 70 percent of their knowledge and skills through challenging on-the-job experiences, 20 percent through coaching and mentoring relationships, and 10 percent through formal training and education. DeepOcean integrates this model into its talent management framework and the development dialogue and succession planning, ensuring a holistic approach to employee development.

The Significance Of Talent Management In Retaining Teams And Talent

Effective talent management plays a critical role in DeepOcean’s ability to retain high-performing teams and valuable talent. By investing in comprehensive talent management practices, DeepOcean demonstrates its commitment to the growth and development of its employees, fostering a positive work environment that promotes the success of our teams and individuals.

Over the past two years, since the inception of our structured talent management journey, we have witnessed remarkable improvements in various metrics. I am immensely proud to share that our Net Promoter Score has risen from 4 in June 2021 to an exceptional 43 in June 2023. This achievement is a testament to our dedication to delivering excellence in our services and signifies the satisfaction and loyalty of our customers. It is worth noting that a Net Promoter Score above 30 is considered excellent, which makes us extremely pleased with our progress.

In 2021, the same year I joined DeepOcean, we initiated an extensive leadership development program. As part of this program, we emphasized the significance of developing our teams and nurturing talent, placing a strong emphasis on empowering line managers to take responsibility for their team’s growth and advancement.

Despite the challenges posed by the ‘war for talent’ in recent years, exacerbated by the impact of the Covid-19 pandemic, our efforts in talent management have resulted in a notable increase in our retention rate. It is also worth highlighting that 2022 was DeepOcean’s most successful year in terms of operational performance. During the last two years, our staff count has increased by 35%, reflecting our sustained growth and the confidence placed in our organization.

Through our continued commitment to talent management, DeepOcean remains dedicated to nurturing and retaining exceptional teams and talent, ensuring our continued success and further establishing ourselves as a leader in the industry.