Scribd
Upload
77 views4 pages

Making $ense of Talent Management: Merle R. Obregon Product Specialist

The document discusses talent management and the importance of competency management for companies. It states that talent management, including learning, performance, and strategic human capital processes, is a critical need for CEOs. For talent management to be effective, learning and performance must be aligned with the common goal of competency management. A competency-based approach provides a way for companies to measure the impact of learning and performance on business objectives.

Uploaded by

Stepanenko Serhiy
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
77 views4 pages

Making $ense of Talent Management: Merle R. Obregon Product Specialist

The document discusses talent management and the importance of competency management for companies. It states that talent management, including learning, performance, and strategic human capital processes, is a critical need for CEOs. For talent management to be effective, learning and performance must be aligned with the common goal of competency management. A competency-based approach provides a way for companies to measure the impact of learning and performance on business objectives.

Uploaded by

Stepanenko Serhiy
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

Access to an evergreen inventory of enterprise-wide competencies is a critical strategy of todays CEOs who are acutely aware that the

greatest factor in fueling the success and competitive growth of their companies is human capital.

Making $ense of Talent Management


Merle R. Obregon Product Specialist
Talent Management. This latest industry buzzword has as many definitions circulating in business journals and companies as there are analysts and talent officers seeking to hone its decisive meaning. The particulars of a given definition depend on whether talent management (TM) is viewed from a Human Resources perspective whose goal is to use TM to improve recruiting and performance, or is regarded as a Training & Development strategy whose focus is to rightskill the workforce.

Making Sense of Talent Management


As successful CEOs know, in either case, whether Talent Management is considered by Human Resources or Training and Development departments, ultimately the goal for managing talent is the same for the corporation itself. Corporations must possess the ability to identify the skills and behaviors that currently exist in their workforce. They must have the tools necessary to locate the people who demonstrate those skills and abilities. And, they must be able to ascertain which resources have the best potential to replace those skills and behaviors in the least amount of time and with the greatest accuracy. Access to an evergreen inventory of enterprise-wide competencies is a critical strategy of todays CEOs who are acutely aware that the greatest factor in fueling the success and competitive growth of their companies is human capitaltalentthe collective and individual abilities and behaviors of their personnel. Alarmingly, recent industry analyses indicate that 60 percent of todays employers find recruitment to be a significant problem, 40 percent of employers claim that management skills are currently in short supply in their organizations, and only one third of organizations have made any projections about the retirement rates of their workers.1 Clearly talent management, the larger group of activities that includes learning, performance and other strategic human capital processes, tops the list of critical needs identified by clevel executives today. The current struggle between HR and T & D divisions for ownership of the organizations talent management processes is both a valid and a predictable battle. Both divisions are stake holders with much to lose and even more to gain. HR is under pressure to resolve current deficiencies and prevent futures ones, both known and unknown. T & D is expected to provide a skilled workforce with the flexibility to adapt easily and quickly to new demands and responsibilities. HR seeks to increase recruiting capabilities and drive performance improvement. T & D seeks to produce more qualified personnel pools by increasing proficiencies through learning. Both camps have important goals, yet their processes, functioning as

TEDS, Inc. 235 Mtn. Empire Rd. Atkins, VA 24311


To be published in f: 276.783.8574 Human Capital magazine, w: www.teds.com March/April 2005

t: 276.782.7206

e: [email protected]

parallel, disparate activities, lack the ability to intersect at the business plan. Talent management ideally connects the processes of these two divisions through the common goal of competencies management, thereby perpetuating workforce skills and behaviors, both core and specific, and producing the resources needed to successfully achieve the business plans of today and tomorrow.

Making Cents of Talent Management


For talent management to promote the overall health and profitability of a corporation, certain conditions are requisite: 1. Learning and performance must be aligned and implemented as strategic tools for achieving a common goal, and not as separate, isolated strategies within the organization. The following relationships are essential: Performance results must impact learning so that identified skills gaps are closed at all levels of the organization: organizational, departmental, and individual levels; Performance results must impact learning so that leadership paths are inaugurated well in advance of need, and critical responsibilities and contributors have clearly defined plans for succession; Learning must impact performance so that targeted goals and initiatives result in improvement of proficiency levels and development of new competencies; Learning and performance must impact recruiting, increasing efficiency and accuracy of the organizations ability to match skills to jobs; Learning must impact workforce competencies and proficiency levels to produce the flexibility of skills necessary to meet the demands of a volatile marketplace and rapidly changing technologies; Learning and performance must work in cooperation to produce pools of highly qualified candidates, accessible to the company at a moments notice; Learning and performance must be intrinsically tied to business initiatives at all levels of company hierarchy. 2. Competencies management must be recognized, identified and established as the unifying principle of learning and performance initiatives. Without this unifying goal, learning and performance are simply unaligned initiatives or isolated strategies with self-contained goals. Learning management culminates in a list of training completions and dates; performance management becomes a matrix of completed assessment activities and evaluation ratings. Neither initiative has a measurable impact on the business plan without the strategy of competencies management. 3. The processes of talent management must operate in a technical environment that allows the coordination and integration of these processes through single platform delivery. Data must be stored in a common repository so that information can be shared among processes and divisions, creating a complete, evergreen profile of individual and workforce competencies and abilities. Coordinated as a cycle of interrelated events, these processes work in synchronization to deliver comprehensive talent management. Failure to align the processes that attract, develop, maintain, and promote human capital is the chief reason that despite the millions of training and performance dollars spent each year by corporations, statistics reveal that nearly half of organizations today are experiencing talent shortages, and well above half can be expected to do so in the coming years. For talent management to yield results, corporations must integrate learning, performance, recruiting, and succession management so that the collective focus of managing competencies can drive all initiatives.

The bottom line is that if learning and performance have no measurable impact on workforce competencies, the dollars spent on these initiatives produce in essence little or no return. Competencies-based talent management provides the organization with a means of measuring the impact of learning on performance, and of performance on the success of the business plan. Fortunately, there are companies and products that provide comprehensive talent management, making both sense and cents for company growth. TEDS strategy for talent management, initiated in 1991, like its design, is unique. Delivered on a single platform, the TEDS solution yields a natural integration of all talent processes from hire to retire. Designed with competencies management as the critical pivotal axis, the TEDS solution focuses on individual and group skills and on knowledge sets because competencies determine every part of the talent lifecycle from the organizations recruitment of persons who possess specific skill sets, to training needs, succession, advancement within the organization, and timing of product and/or service phase out. Mapping skills and competencies to jobs, to individuals, and to business plans, the TEDS solution provides indispensable data about the organizations resources and ability to achieve goals. Enabling learning and performance to work in coordination, the TEDS solution instills and perpetuates a highly qualified, right-skilled workforce. Providing organizations with the ability to generate powerful analytics, the TEDS solution enables the development of an individuals career and workforce proficiencies. Employing learning as a powerful tool, the TEDS solution enables businesses to resolve individual and organizational deficiencies, to build the requisite skills of associates, and to hone the leadership abilities of key personnel. Identifying the potential of an individual early in his or her career, the TEDS solution empowers succession planning to enable organizations to chart leadership paths and to ensure continuity across business cycles. Enabling the advancement to new responsibilities of those resources with the best potential, the TEDS solution provides organizations with the ability to fill gaps with optimum ease and speed. Employing recruitment and career development tools, the TEDS solution enables businesses to select, consistently, the most qualified candidates with the greatest potential to be successful in the job and in the organization. Relying on its training functionalities, the TEDS solution optimizes the onboarding process so that new personnel immediately become acclimated to the organization. Aligning individual objectives with departmental and/or divisional initiatives and larger enterprise goals, the TEDS solution enables corporations to standardize talent management processes throughout the organization. Employing unsurpassed expertise in consulting and implementation, the TEDS solution enables the seamless integration and execution of the organizations unique business processes powered by innovative technology. TEDS Talent Management Solutions ensure not only qualified personnel, but exceptionally qualified personnel. Perhaps more importantly, TEDS identifies jobs and responsibilities for which no replacement currently exists. The organization gains a proven strategy for managing talent, by placing at the organizations disposal the most talented personnel available. TEDS Talent Management Solutions deliver predictable, repeatable outcomes for managing human capital, and offer lasting immunity from talent shortages. As other corporations compete for a continually diminishing supply of qualified personnel, organizations that

employ TEDS to manage talent can focus efforts on conducting business. TEDS comprehensive talent management ensures the organizations dominance in todays extremely competitive market and in future markets as well.

TEDS Comprehensive Talent Management

Study: U.S. Businesses Not Prepared for Booming Retirement, Health, SciTech, Robin Lloyd, LiveScience Senior Editor, 14 March 2007.
1

You might also like