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A high impact HR team focuses on several aspects when implementing Talent Management programs. The most important would be what is generally considered a given - that the interactions with internal HR customers are as important to be recognised as the interactions of the company with its customer/client base. If the focus is to improve the value that HR delivers then it is imperative to identify and define a set those moments in an employee's life cycle that matter and focus on truly delivering during those moments. The next important aspect is to create programs that are aligned to the business strategy, short and long term. The programs need not be radical but provide strategic value through continuous improvement and adaptation. Some of the Best Practices are: advanced workforce planning, reducing administrative work for HR Business partners, implementing flexible organisation structures, improving employee facing HR systems,improving line manager's capabilities, outsourcing HR services strategically.
Talent management is too broad a subject - Who do we recognise as talent ? Talent or critical talent to my mind are those individuals whom the Comapny would want to retain at all costs so these are the folks who form the talent pool - The question is how do we recognise talent - how do we bring them to a talent pool & how do we have a pipeline of talent so that the organisation has a complete feed of critical talent who will contribute to the organisations journey in becoming good to greater.
When we look at talent we can categorise them like SME so they form a class than we look at the leaders in each category across various management levels identify them through their contribution to work & take them thru assessment centres to validate the same
Once we have a pool we look at their development plan & keep feeding into that pool - at any point in time we may not be having more than15-20% as talent who are at an unique inflection point in their respective categories to make an upward or a lateral movement
Having said that it doesnt mean the rest80% are not talent - out of the80%50% would be solid citizens who are necessary for the job but not ready for the next - so they need to be developed to bring in more efficiency- so what do we do with the rest30% - out of the30%,20% will be on a learning curve towards becoming solid citizens where by we need to invest on their learning & the balance10% are the laggards - where they need to be rotated or outplaced
Regards
Arindam Gupta
Talent management is a useful term when it describes an organization's commitment to hire, manage and retain talented employees. It comprises all of the work processes and systems that are related to retaining and developing a superior workforce.
Talent is only talent if you can use it. This implies that talent has a direct relationship to business performance which makes it a strategic asset for future success.
Organizations struggle to crystallize in a meaningful way what they mean by talent. According to classical management theory, in order to make something a strategic asset, it must be:
1. Valuable
2. Differentiating
3. Hard to imitate
Talent management can be defined as an integrated, dynamic process, which enables organizations to define, acquire and develop the talent that it needs to meet its strategic objectives.”
Key stages include:
§ Business strategy: which skills, competencies and roles are required to deliver the strategy?
§ Organizing framework: who to target and how?
§ Capability framework: the skills, tools and techniques to define talent requirements.
§ Leadership involvement: creating a “Talent Mindset” in senior managers.
§ Development of high performance talent: filling gaps through targeted development interventions and recruitment initiatives.
§ Build fluid talent pools: keeping it tied into the strategy.
§ Rigorous assessment of potential across the organization.
1. Employee development program as training.
2. Leadership development programs.
3. Competency based job assessment.
4. Competency based performance management.
5. Mentoring.
6. Coaching.
Agreed with colleagues answers