Belden Inc., a global leader in signal transmission and security solutions for mission-critical application in enterprise and industrial markets, was recognized today by the St. Louis Business Journal in the publications HR Awards for its innovative approach to talent management and succession planning. The inaugural awards recognize the important work individuals, companies and organizations do in the field of human resources to make St. Louis-area firms and organizations successful.
As a fast-paced, results-oriented company committed to the setting of transparent goals that drive performance improvements, Belden has developed and implemented a unique talent strategy and succession management plan that mirrors its rigor around financial and operational performance. Its goal is to attract, develop and retain strong talent.
To date, Belden has seen tremendous impact on everything from employee morale to the bottom line. Seventy-eight percent of succession positions are filled internally and 95 percent of the talent pool is retained. Most importantly, the system has resulted in 50 percent hiring productivity gains by promoting from within.
The talent management plan includes leveraging the full breadth of the company to maintain the growth and flow of high-potential talent to key roles and business units.
Belden tracks readiness in three-year increments, from a high potential new hire to ready now for a succession role. Each role or developmental assignment is approximately 2-3 years in duration to challenge and grow employees at pace towards a succession position.
At Belden, succession planning isnt a big annual event; it is a daily operating practice, said Dean McKenna, Senior Vice President Human Resources at Belden Inc. Observing, tracking and analyzing performance is a key expectation for all our leaders, but especially for those who manage people in the talent pipeline.
To ensure proper coverage for all succession positions, Belden maintains a deep bench of talent. The company tracks potential successors up to six years prior to them assuming those roles, as well as high potentials who are more than six years away from being ready. Armed with assumptions about turnover, velocity and conversion rate of successors and high potentials, the company calculates the talent pool size and mix.
To win in business, you need to keep score “ and thats what we do. This includes keeping score on how well we use our hiring opportunities and how well we develop talent, said Tracey Grimshaw, Vice President Human Resources. Succession planning is important, but its execution of the plan that delivers results.
To learn more about Beldens approach to talent management, please visit: https://www.belden.com/about/careers
Belden Inc., a global leader in high-quality, end-to-end signal transmission solutions, delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial and enterprise markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for todays applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at www.belden.com or follow us on Twitter @BeldenInc.
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Ellen Drazen, Belden Inc.