Egon Zehnder: Ms. Marsi, talent management is a management task at Allianz. What does that mean in concrete terms?
Laura Marsi: It means that we see talent management as an important part of the corporate and management culture and take it seriously as a strategic challenge. Talent management goals are consistently pursued and monitored as corporate strategic goals. Our comprehensive talent management strategy and personal development plans for executives and non-executives ensure that personal and professional development is integrated at all levels and that a culture of continuous improvement and growth is promoted. This makes it clear that attracting and developing talent is not just the responsibility of the People and Culture function, as the HR function is known at Allianz. It is also a task for managers at all levels, right up to the Board of Management.
Egon Zehnder: How does this anchoring of talent management in the corporate and management culture become tangible for employees?
Laura Marsi: We foster a strong feedback culture that focuses on the personal and professional development of each individual. Based on this feedback culture, employees can actively and independently drive their own development. This is reflected, for example, in programs such as "Raise Your Hand," which allows employees to register for inclusion in special talent pools with additional development opportunities. Or in our guiding principle "Be the CEO of Your Own Career."
Egon Zehnder: How does Allianz put this guiding principle into practice?
Laura Marsi: We are convinced that continuous learning is the key to personal and professional development. That's why we invest in employee development and offer targeted training for our entire workforce. Allianz's commitment to lifelong learning is not just on paper but is clearly reflected in our goal of providing all Allianz employees with at least 43 hours of further training per year. We want us all to grow together with our company.
Egon Zehnder: What role do managers play in implementing the talent management strategy?
Laura Marsi: Managers at all levels work very closely and purposefully with People and Culture so that together we can actively identify, promote, and retain talent within the company. Talent managers coordinate directly with business partners to define the required skills and abilities that internal talent and new applicants should bring with them. Applicants and internal talent are selected in committees where HR managers and executives make joint decisions in a transparent selection process.
Egon Zehnder: Are all management levels involved in these committees?
Laura Marsi: Absolutely, yes. When it comes to developing talent for management positions, members of the Board of Management, for example, have a say in these committees. This shows how highly the strategic importance of talent management is regarded at Allianz.
Egon Zehnder: Why is this close collaboration in talent management so important?
Laura Marsi: The aim of all talent management decisions and measures is always to ensure the company's long-term success. When we develop talent for the management level, it is very important to us that they understand this connection: Successful talent management ensures corporate success. I am also convinced that when talent management becomes a management task, it not only transforms talent but also the managers themselves.
Egon Zehnder: How is the leadership role changing?
Laura Marsi: Successful leaders today are much more than just managers—they are also coaches and mentors for their teams. If they take on these leadership roles for themselves and develop personally and professionally in this sense, then they are also in a better position to assess the strengths, goals, and development potential of talent. They can communicate clearly and credibly that the development of the employees in their teams is important to them, what they expect from them, and what development opportunities they offer them. The future of leadership lies in the ability to both promote talent and to continuously develop oneself as a manager.
Egon Zehnder: How does Allianz develop these skills and this self-image in its executive teams?
Laura Marsi: We train junior managers early on in social skills such as empathy and teamwork. We have introduced employee surveys and 360-degree feedback, which, in addition to other performance criteria, also assess managers' ability to develop their employees. When selecting talent for executive positions, it is important to us that they have gained a wide range of experience and have taken on managerial roles in various areas of the company. In so-called "career sponsorships," experienced managers also share their knowledge and network with management talent, enabling them to develop more quickly.
Egon Zehnder: You put a lot of effort into talent management. How do you ensure that it contributes to the company's success?
Laura Marsi: We monitor our talent management goals transparently with strategic reports based on defined KPIs. This allows us to recognize exactly: Are we actually succeeding in attracting the best, most successful talents, optimally utilizing their diverse perspectives and skills, and retaining them in our company? Subjective assessments of the skills and potential of our talents are always supported by data and key figures as well as by the assessment of external experts. Internal talents also go through assessment centers from external providers, for example. We do all of this to ensure that we develop the right people in the right direction and thus ensure the company's long-term success.
