Different Phases of Talent Management in National Oilwell Varco Essay

Different Phases of Talent Management in National Oilwell Varco - Essay Example Two senior executives were given the assignment to prepare for the changes, resulting in a plan labeled â€Å"Next Generation.† To generate a supply of potential leaders, technical professionals, and others, NOV had to broaden its recruiting process beyond the normal oil-based states, such as Texas, Louisiana, and Oklahoma. Miller also demanded that foreign candidates be considered, because of the expanding global oil market.   A specific focus of NOV recruiting efforts included foreign students at U.S. universities who had high English communication skills and other relevant capabilities. Up to 40 individuals at 10 universities were interviewed, and then the primary candidates went through two more interviews by NOV middle managers. Those candidates who â€Å"passed† this phase spent two days in Houston going through additional interviews and selection means. Finally, the individuals selected were offered jobs at NOV. This process has continued during the past several years.   Once the selected individuals go to work at NOV, they spend one year in job rotation, with four assignments of three months for each in different business areas. This rotation provides the individuals with a broader view of NOV and its operations. During the rotation, candidates participate in various efforts, including development programs and mentoring by various division managers.   A unique part of NOV’s talent management process is that after the individuals complete their one-year job rotation, they become â€Å"draft candidates.† Modeled after the NFL draft, each business unit identifies which individuals they want on their â€Å"team.† After completing the draft, individuals get jobs in the different business units.   NOV’s â€Å"Next Generation† program has been successful. The retention rate for the drafted candidates is over 90%, higher than normal in the industry.