Selecting diverse staff members who are technically astute with a command of world languages and cultures will make NOV a company for the 21st, not simply the 20th century and ensure that the company does not become left behind in an environmentally conscious global environment.
NOVs approach to training was similarly far-thinking and far-reaching as its recruiting efforts. Eschewing specialization, it tried to create a leadership team with a thorough knowledge base of every facet of the company. The chosen new managers spent an entire year rotating different jobs, almost like a doctor has a residency in different facets of medicine, to broaden his or her area of expertise. Talent management itself is a many-layered process at NOV. The old boys club of a relatively small number of homogeneous management staff had been expanded by the recruiting and training effort. The mentoring received by the candidates during their orientation year ensured that a consistent company philosophy was still infused into every segment of the organization. Finally, after the one-year rotation, NOV created a final draft process modeled on the National Football League (NFL) in which each business unit recruited specific members.
NOV considers its program to be successful, given its high retention rate of 90%, well above the norm for the industry.
Through careful screening and training, candidates with a commitment to the NOV who are a good fit for the company culture are selected and oriented to the organization. However, one problem with NOV may be raised through in final phase of drafting candidates. The one year training process tries to orient candidates into the firm as a whole, and tries to make each candidate see every aspect of the company as equally important. But then the NFL draft pits different business units against one another, each jockeying for the top candidates.
Furthermore, the draft might also encourage candidates to pitch for themselves to be included into the most prestigious departments, to prove their worth and desirability for the company, rather than the parts of the organization for which they are most suited. A brilliant technology whiz might wish to enter management or finance because of a departments perceived desirability, and to enhance his or her company standing. And departments may seek to draft the smartest and most-lauded candidates, rather than those best suited for their specific tasks. Still, overall the shift NOV has experienced has improved the companys fortunes in terms of its ability to thrive now, and in.