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Creating A Talent Management Philosophy: To Care?

The document discusses the importance of talent management for organizations. It states that talented employees, who make up 3-5% of the workforce, are critical for organizational performance and competitive advantage. Effective talent management involves attracting, developing, engaging, and retaining top performers. It suggests that organizations should understand their talent needs, identify gaps, develop plans to close those gaps, and measure the impact of talent management on business results. The document also discusses different strategic perspectives organizations can take for talent management and some reasons why talented individuals may choose to leave an organization.

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94 views5 pages

Creating A Talent Management Philosophy: To Care?

The document discusses the importance of talent management for organizations. It states that talented employees, who make up 3-5% of the workforce, are critical for organizational performance and competitive advantage. Effective talent management involves attracting, developing, engaging, and retaining top performers. It suggests that organizations should understand their talent needs, identify gaps, develop plans to close those gaps, and measure the impact of talent management on business results. The document also discusses different strategic perspectives organizations can take for talent management and some reasons why talented individuals may choose to leave an organization.

Uploaded by

Maya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The Impact of Talent Management in the organization.

At present, organizations strive to sustain their presence in the global marketplace, due to related
challenges such as globalization, stiff competition, and technological improvements. Organizations have
shifted their patterns from only focusing on increasing their productivity and differentiating their
products and services to focusing on their inimitable resources; namely, their human capital, as
employees are the most important resource and asset in any organization . Organizations that manage
their human capital more effectively and efficiently are more likely to attain their organizational goals
and objectives, and are more likely to have a sustainable organizational performance.

According to Rop , the growth and success of any organization relies on positioning the right employees
who possess the right skills in the right place at the right time, where talented employees are viewed as
the main resources that lead to sustainable competitive advantages and prominent performance.
Organizations face challenges regarding talent limitations more than capital limitations . In reference to
the literature, talented employees form only 3–5% of all employees in an organization . Talent is a key
success factor for increasing and sustaining organizational performance, where talent consists of an
individual’s capabilities, experience, knowledge, intelligence, and qualifications, as well as their ability to
learn and grow.

Talent Management

• Talent management is the systematic attraction, identification, development, engagement, retention


and deployment of individuals who are of particular value to an organization. (http://cipd.co.uk). Talent
management covers the art and science of recruiting, retaining, developing and rewarding people.

• Performance Management • Learning and Development • Skill Building and Career Development
Opportunities • Succession Management • Talent Mobility • Compensation Planning • Salary
Benchmarking • Job Descriptions • Job Mapping • Talent Acquisition • Ongoing Coaching and Feedback
• Assessments and Measurement Tools

Talent management suites include capabilities for learning management, performance management,
succession planning, compensation management and recruiting management. (Gartner)

Creating a Talent Management Philosophy

A company’s approach to managing talent is defined by five elements:

1 Performance: What are the consequences of higher or lower employee performance?

2 Behaviors: How much do behaviors matter and at what threshold do we start to care?

3 Differentiation: How should we allocate our company’s resources and rewards across varying levels of
performance and potential? Transparency: How open should we be, and with whom, about our talent
processes and their outcomes?

4 Accountability: To what extent should managers be responsible for the execution of talent building
processes?
Present the data to the team and facilitate them to agreement on each talent philosophy area. It’s not
critical to have perfect alignment, as long as each executive agrees to manage his or her group
consistent with the team’s decisions. Conduct a reality check. It’s easy to give socially desirable
responses when asked talent philosophy questions, so it’s important to confront executives with the
philosophy’s real-world implications. Build HR processes and communicate to employees. Once you’ve
agreed on the rules, modify your HR processes to enable them. Talent review, succession, development
and compensation processes all likely require adjustments to consistently support your new philosophy.
Suggestions for Effective Talent Management in the organization

Following are some Suggestions to improve talent management and HR function of the organization.

 Understand the purpose and importance of talent management.

 Understand the organization’s future business strategy.

 Identify the talent gaps and requirements to drive business.

 Design the talent plan and close the gap.

 Take accurate hiring and promotion decisions.

 Focus on the element required on succession of talent management.

 Develop talent to enhance performance.

 Build proper communication system.

 Measure the business impact on workforce effectiveness before and after implementation.

 Design the reward and recognition policy.

 Arrange training and development program for upgrading employee skills.


Blass (2009, p. 22) writes that talent management “seems to be the intercept between strategy,
succession planning and HRM, drawing primarily on development strategies, recruiting and retention
strategies, and reward strategies, supported by good data sources, monitoring and measurement”, and
depicts this as in Figure 2.

Figure 2 Mapping the talent management territory (Blass, 2009, p. 22) Lewis & Heckman (2006) look
back to the early proponents of talent management and state that they believe that the best analogy for
talent management is that of an architecture. This architecture offers a systems-level, strategic
perspective, and could open up to new research possibilities according to them. However, they note
that other authors have failed in describing how talent management could be made into architecture

3.2.2 Talent management in practice

A research project based on a series of case studies made by the Chartered Management Institute in
conjunction with Ashridge Consulting, generated six different strategic perspectives on talent
management, which all influence how companies choose to approach talent management (Blass, 2009).
These perspectives are the process perspective, the cultural perspective, the competitive perspective,
the developmental perspective, the HR planning perspective and the change management perspective
described below in Table 1 (Strategic perspectives on TM) (Blass, 2009, p. 3ff).

Strategic perspective Description Process


Process perspective Involves all processes with the aim of optimizing
people, i.e. managing and nurturing talent. These
companies believe that their future is dependent
on having the right talents.
Cultural perspective These organizations believe that TM is a mindset.
Every individual is dependent on his/her own
talent, which will make him/her successful.
Alternatively, these organizations allow everyone
to develop their talents freely.
Competitive perspective Focused on identifying the talents, understand
their needs and wants, before they go to the
competition. Often the default perspective.
Common in professional services.
Developmental perspective Focuses on the development of high potentials,
which is to be accelerated only for this group of
individuals.
HR planning perspective The right people at the right job in the right time
and doing the right things. Succession planning is
common for these organizations. The perspective
often applies to fast growing companies
Change management perspective These organizations use TM as a driver of change
in the organization. The talent management
system is part of a wider strategic HR initiative for
organizational change.
Table 1 Strategic perspectives on TM (Blass, 2009, p. 3ff)

How to kill talent

According to Hay (2002) that employees are most likely to leave an organization when they feel that
their skills/talent is not properly developed by the employer, when their manager does not take an
interest in their career development, when they are dissatisfied with their boss, and when they perceive
that the company management does not have a clear direction for the organization.

Wikström (Talent management IFL Executive Seminar, 2013) presents ten reasons for why people
choose to leave an organization even though they may have been considered as talents:

• Stiff bureaucracy with accompanying rules

• Not enough challenging projects

• Poorly executed performance reviews

• Lack of serious development discussions and lack of plans for the talents

• Erratic changes, talents are not allowed to finish their projects

• Lack of constructive feedback

• Talents like to work with other talents

• Lack of clear and challenging misson and vision

• Lack of open and challenging climate for discussion

• Poor managers

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