essay on talent management

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Talent Matters Even More than People Think

• Tomas Chamorro-Premuzic

If anything, it’s still underrated.

Why are some people more successful than others? Leaving aside luck, which equates to confessing that we don’t really know, there are really just two explanations: talent and effort. Talent concerns the abilities, skills, and expertise that determine what a person can do. Effort concerns the degree to which the person deploys their talents.

• Tomas Chamorro-Premuzic is the Chief Innovation Officer at ManpowerGroup, a professor of business psychology at University College London and at Columbia University, co-founder of  deepersignals.com , and an associate at Harvard’s Entrepreneurial Finance Lab. He is the author of  Why Do So Many Incompetent Men Become Leaders? (and How to Fix It ) , upon which his  TEDx talk  was based. His latest book is I, Human: AI, Automation, and the Quest to Reclaim What Makes Us Unique.   Find him at  www.drtomas.com . drtcp

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Winning with your talent-management strategy

The allocation of financial capital has long been recognized as a critical driver of an organization’s performance. The value of managing and allocating human capital, however, is less widely known. But the results from a new McKinsey Global Survey confirm the positive effects of talent management  on business outcomes. 1 The online survey was in the field from November 14, 2017, to November 28, 2017, and garnered responses from 1,820 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. According to respondents, organizations with effective talent-management programs 2 We define an effective talent-management program as one that, according to respondents, has “effectively” or “very effectively” improved the organization’s overall performance. have a better chance than other companies of outperforming competitors and, among publicly owned companies, are likelier to outpace their peers’ returns to shareholders.

The survey also sought to uncover the specific practices that are most predictive of successful talent-management strategy. While there is no one-size-fits-all approach to the effective management of human capital, the survey results reveal three common practices that have an outsize impact on the overall effectiveness of talent management as well as organizational performance: rapid allocation of talent, the HR function’s involvement in fostering a positive employee experience, and a strategically minded HR team. The survey results also point to underlying actions that organizations of all stripes can take to cultivate these practices and thereby improve their talent-management strategy and organizational performance.

Why effective talent management matters

According to the survey responses, there is a significant relationship between talent management—when done well—and organizational performance. Only 5 percent of respondents say their organizations’ talent management has been very effective at improving company performance. But those that do are much more likely to say they outperform their competitors: 99 percent of respondents reporting very effective talent management say so, compared with 56 percent of all other respondents. 3 Figures were calculated after removing the 3 percent of respondents who answered “don’t know” when asked how their organizations’ performance over the past three years compared with competitors’ performance.

What is more, the effects of successful talent management seem to be cumulative. Like an overall effective talent-management program, the abilities to attract and retain talent appear to support outperformance (Exhibit 1). Among public companies, we see a similar effect on total returns to shareholders (TRS). At companies with very effective talent management, respondents are six times more likely than those with very ineffective talent management to report higher TRS than competitors.

Three drivers of successful talent-management strategy

To support these outcomes, the results suggest three practices that most closely link with effective talent management: rapid allocation of talent, 4 We define rapid allocation of talent as the fast or very fast movement of talent among strategic projects as priorities arise and dissolve. HR’s involvement in employee experience, and a strategically minded HR team (Exhibit 2).

Respondents who say all three practices are in place—just 17 percent—are significantly more likely than their peers to rate their organizations’ overall performance, as well as TRS, as better than competitors’ (Exhibit 3). They are also 2.5 times more likely than others to rate their organizations’ overall talent-management efforts as effective.

Rapid allocation of talent

Only 39 percent of respondents say their organizations are fast or very fast at reallocating talent as strategic priorities arise and dissolve —a practice that leads to a 1.4-times-greater likelihood of outperformance. And while it is well established that companies with rapid capital allocation are likely to see higher TRS , our findings show that the same holds true for talent allocation. At public companies that quickly allocate talent, respondents are 1.5 times more likely than the slower allocators to report better TRS than competitors. 5 Respondents who say their organizations have rapid talent reallocation are 2.2 times more likely than those who say their organizations have slow or very slow talent reallocation to report better TRS than competitors, as noted in Mike Barriere, Miriam Owens, and Sarah Pobereskin, “ Linking talent to value ,” McKinsey Quarterly , April 2018. The link between rapid allocation and effective talent management is also strong: nearly two-thirds of the fast allocators say their talent-management efforts have improved overall performance, compared with just 29 percent of their slower-moving peers.

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To allocate talent more quickly, the survey results point to three specific actions that meaningfully correlate with the practice (Exhibit 4). The first of these is the effective deployment of talent based on the skills needed , which has a direct impact on the speed of allocation. Respondents are 7.4 times more likely to report rapid talent allocation when their organizations effectively assign talent to a given role based on the skills needed.

Second is executive-team involvement in talent management. Respondents who say their leaders are involved in talent management are 3.4 times more likely to report rapid talent allocation at their organizations. The frequency of leaders’ involvement also makes a difference. At organizations that quickly reallocate talent, executive teams usually review talent allocation at least once per quarter (Exhibit 5). Finally, the results suggest that organizations where employees work in small, cross-functional teams are more likely than others to allocate talent quickly.

HR’s involvement in employee experience

A second driver of effective talent management relates to employee experience—specifically, the HR function’s role in ensuring a positive experience across the employee life cycle. Only 37 percent of respondents say that their organizations’ HR functions facilitate a positive employee experience. But those who do are 1.3 times more likely than other respondents to report organizational outperformance and 2.7 times more likely to report effective talent management, though our experience suggests that the HR function’s role is just one of the critical factors that support great employee experience .

Read our latest thinking on talent management strategy

A couple of key actions underlie the HR function’s ability to ensure better employee experiences. One is quickly assembling teams of HR experts from various parts of the function to address business priorities. Just 24 percent of respondents say their organizations employ this characteristic of an agile HR operating model , and they are three times likelier than other respondents to report a positive employee experience. Second is deploying talent and skills in a way that supports the organization’s overall strategy. One-third of all respondents say their organizations’ HR business partners are effective at linking talent with strategy in this way, and those who do are over three times more likely than other respondents to say the HR team facilitates positive employee experiences.

Strategic HR teams

The third practice of effective talent management is an HR team with a comprehensive understanding of the organization’s strategy and business priorities. When respondents say their organizations have a strategy-minded HR team, they are 1.4 times more likely to report outperforming competitors and 2.5 times more likely to report the effective management of talent.

The factor that most supports this practice, according to the results, is cross-functional experience. When HR leaders have experience in other functions—including experience as line managers—they are 1.8 times more likely to have a comprehensive understanding of strategy and business priorities. Also important is close collaboration among the organization’s chief HR officer, CEO, and CFO . 6 Dominic Barton, Dennis Carey, and Ram Charan, “People before strategy: A new role for the CHRO,” Harvard Business Review , July–August 2015, pp. 62–71, hbr.org. Fewer than half of all respondents say those executives work together very closely at their organizations, 7 The question “How closely, if at all, does your organization’s chief HR officer work with your CEO and CFO?” was asked only of respondents in vice president and C-level roles. but those who do are 1.7 times likelier to report a strategy-minded HR function. The findings also point to the importance of transparency with all employees about strategy and business objectives. Respondents who say their organizations’ employees understand the overall strategy are twice as likely to say their HR team has a comprehensive understanding of the strategy.

In summary, effective talent management—and the practices that best support it—contributes to a company’s financial performance. No one approach works for every company, but the survey results confirm that rapid allocation of talent, the HR function’s involvement in fostering positive employee experience, and a strategic HR function have the greatest impact on a talent-management program’s effectiveness.

The contributors to the development and analysis of this survey include Svetlana Andrianova, a specialist in McKinsey’s Charlotte office; Dana Maor , a senior partner in the Tel Aviv office; and Bill Schaninger, a senior partner in the Philadelphia office.

They wish to thank Laura Lee, David Mendelsohn, and Trevor Young for their contributions to this work.

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Talent Management

Ivan Andreev

Demand Generation & Capture Strategist, Valamis

April 9, 2021 · updated April 3, 2024

12 minute read

Human resources plays many roles in a company. The department manages employee relations, talent acquisition , payroll, onboarding , and much more. One more duty of HR is talent management.

This is key to keeping your organization moving ever closer to its goals.

What is talent management?

The importance of talent management.

• Talent management model

Talent management strategy

Building your talent management strategy, the talent management process, the 7 steps of a great talent management process.

Talent management is a constant process that involves attracting and retaining high-quality employees, developing their skills, and continuously motivating them to improve their performance.

The primary purpose of talent management is to create a motivated workforce who will stay with your company in the long run. The exact way to achieve this will differ from company to company.

Talent management in HR

Talent management naturally encompasses many of the responsibilities of HR.

All the same, it is not enough to expect that just because you have an HR department, you are managing talent.

You need to have a talent management strategy in place designed just for your company to gain optimal results.

The simple answer is because it capitalizes on employees — arguably, the most important asset of your company.

Talent management helps you maximize the value of employees.

Source: www.mckinsey.com

As you can see from the graph above, there is widespread agreement that talent management is effective (or even very effective) at attracting and retaining talent as well as improving overall performance.

Career development plan template

This template helps employees and leaders plan together for career growth: set goals, assess skills, and make a plan.

There are a few main reasons why this is the case.

1. It helps businesses improve performance

With top specialists in your organization, you can reach any goal.

Talent management is most effective of all when it combines three key components: rapid talent allocation, positive employee experience, and a strategic HR team.

2. It allows companies to stay competitive

By hiring and developing talented employees, your organization becomes stronger and better prepared to face changes and risks.

3. It drives innovation

New technologies are always hitting the scene, whatever your industry. Talented employees are able to find ways to harness the capabilities of new tools and solve problems or come up with original ideas.

4. It helps form productive teams

The appropriate talent management strategy will allow you to form a more productive team. This is far more useful than just having a bunch of creative and talented people in your organization.

5. It decreases turnover

When employees feel valued at a company, when they know they will have plenty of opportunities to grow in the business, they are less likely to seek work elsewhere.

6. It leads to strong employer branding

Talent management brands your company as an employer. This helps you to attract the best candidates for future hires.

7. It motivates others to grow

Having inspiring talent on your team will motivate other employees and help them grow.

Talent Management Model

Source: expert360.com

Whereas there is no standardized model for talent management, some HR professionals have proposed excellent models that any company can use.

However you choose to develop your model, it must include the following.

1. Planning

Planning aligns your talent management model in line with the overall goals of your organization.

Only with the correct planning can you ensure that you seek talent with the right skills and experience. In addition, it assesses current employees to see what is working well for the company.

For instance, if employees with certain characteristics tend to stay at the organization for longer, you should plan to hire more workers like them.

2. Attracting

It is not always as simple as when one person leaves the company, you start a search for someone else to fill the role.

For instance, your needs may change or employees may take on new responsibilities. Talent management ensures that you always have sufficient staff to carry out all your operations and prevent heavy workloads that could cause demotivation.

The right strategy will attract just the kind of workers you want at your business. Such hires will be driven, skilled, and seeking to advance within the company.

Attracting talent is all about branding your company as an employer. You’ll need to find ways to increase visibility in ways that allow you to present company as a best place to work. The main consideration here is to make your business more approachable.

Even if you choose not to hire someone for a particular position, you still need to create a positive experience. This will give you the opportunity to hire these candidates for other jobs or use them as ambassadors to acquire other talent.

3. Developing

The development part of the model involves taking steps to help talent grow within the company.

It should be aligned with the employee development plan and includes identifying roles where particular employees could move to in the future as well as considering how to expand workers’ skills and knowledge to fulfill new challenges facing your organization.

Talent management also looks at what will keep employees at your company enthusiastic and willing to go the extra mile. It is necessary to provide employees with value.

Motivation also requires the correct onboarding — to give new hires a great impression of your company from the very beginning. This will increase the chance that they stay with the company and work hard.

4. Retaining

Another purpose of talent management is to keep people at your company for longer.

Employees need to continue feeling that the company is an enjoyable, meaningful place to work.

Through training and other types of engagement, employees have the chance to create a career without leaving the company. You may achieve this by focusing on compensation (monetary and otherwise) as well as company culture.

5. Transitioning

After hiring and developing their skills, you need to plan for employees’ transitions.

Your aim at this stage is to keep their knowledge within the company — this is called knowledge management .

You need to have a plan in place to promote employees or move them to another role, department, or office. If a worker does decide to leave, you need to know why.

A talent management strategy is based on the talent management model. It should match your organization’s goals and clearly define what type of talent you need.

You organize the talent management process based on the talent management strategy.

There are few different types strategies you can choose from.

Strategy #1: Hire only top employees

The advantages of this strategy are obvious:

• You immediately receive top talent.
• The employees will perform well and probably reach high performance faster.
• You are able to grow your company faster.
• You are more prepared for challenges and risks.

However, there are some disadvantages:

• It’s expensive, and will cost you even more if you end up needing to hire someone else.
• It could be more difficult to retain top talent.
• The hiring process may take longer, as you’ll probably want to select from a wider pool of candidates.
• It can be challenging to manage team of top talent.
• Having too many top performers on a team can lead to competition and result in underperformance.

Strategy #2: Hire promising specialists and develop them

This second option has a couple advantages:

• You can find talent faster. This may be necessary if you are in urgent need for talent and have insufficient time to search for top employees.
• You will likely save money on salaries.
• The employee has the potential to become a skilled and loyal professional.
• You can hire two, or even three, promising specialists for the same amount as for one top performer.

The main disadvantages are:

• Your company may grow slower.
• Compared to top talent, these hires lack of knowledge. This can lead to lower performance.
• You may need to hire another specialist if the employee cannot handle the role.
• It requires a larger investment in development.
• The strategy may fail entirely and you’ll need to revert to option 1.

Strategy #3: Combine strategies 1 and 2

This quote describes the strategy best:

“Your team’s strength is not a function of the talent of individual members. It’s a function of their collaboration, tenacity, and mutual respect.”

Finally, the pros of combining the two above are:

• It gives you the best of both worlds.
• It also allows you to take advantage of a combination of new hires and existing talent.
• Having top talent and potentially good specialists (e.g. young employees) will help the specialists grow faster and motivate them.
• It leads to knowledge transfer — top talent can teach other employees.

All the same, there is one con:

• If you have specific requirements (such as you are in urgent need of growth or if you are on a tight budget), sticking to a single strategy may be more appropriate.

Lastly, before you go ahead and launch your recruitment and talent management strategy, make sure you include the essential components of a talent management strategy.

1. Know what your talent management strategy is for

Every organization has its own unique goals. Whether they relate to better performance or higher revenue, your goals need to be clearly stated and achievable. You also need to know exactly how employees will play a role in helping you meet your targets.

2. Measure the results

You need to know how to measure results to see if your strategy is working. Define the metrics you’ll use and how often you’ll take measurements.

3. Assign responsibilities

Much of the talent management strategy is down to HR, but other people at your company will also need to be involved. For instance, C-level executives are responsible for succession planning.

4. Communicate with employees

Make sure your employees are clear about where they stand and know what is expected of them. Talk to them about their career goals to ensure that your company is creating the right opportunities.

Now you have an understanding of why you need talent management and what it involves. Next, you need to take a look at the talent management process itself and learn how to apply it to your company.

What is the talent management process?

The following steps cover what you need to do to develop a continuous talent management process for your organization.

It covers how to find the most talented people available and then help them stay in your company.

Step 1: Specify what skills you need

What is the first step in the talent management process?

Before you can go any further, you must determine what kinds of hires you need and what requirements they should fill.

Consider if it would be possible to teach existing employees to avoid the need to hire anyone new.

Step 2: Attract the right people

There are several stages to attracting talent:

• Create targeted advertisements and post them on top job sites — HR branding is helpful here.
• Plan interviews and other means to identify the best person for the job. In addition to regular questions, consider using personality assessments, references, and tests that require candidates to perform in real-life situations.
• Hire your top choices.

Step 3: Onboard and organize work

Help new employees feel orientated by being ready for them as soon as they enter the company.

Know what tasks you will set them, have training sessions scheduled, and assign current employees to support new workers settle in.

Step 4: Organize learning and development

Remember, it is often easier to develop the skills of your current employees than to hire new talent.

Plus, even if you do hire top talent, they will likely want to learn something in their new role.

Plan ways for your workers to learn and grow, such as through conferences, courses, and a learning management system to create a learning environment.

Step 5: Hold performance appraisals

Checking employee performance regularly allows you to see if workers could manage additional responsibilities.

This could save you hiring new talent and it may help an employee prepare for a promotion.

Step 6: Strategize to retain your best talent

Keep employees satisfied at work through promotions, benefits, motivating tactics, ensuring job satisfaction, and improving company culture.

Step 7: Plan for successions

Nurture employees for successions, such as for when a senior member of staff retires.

Enable employees to perform to their best through continuous learning opportunities, including knowledge management.

If an employee decides to leave the company, conduct an exit interview to find out what went wrong — this will help you prevent the same issue occurring again in the future.

You need to stop assuming that you already have talent management covered just because you have HR at your company. Talent management rarely happens naturally.

You need a strategy that is tailored to your business alone. Only like this will you obtain and retain top talent and gain a competitive advantage over other businesses in your industry.

Develop and maintain a strategy-driven learning culture

Upgrade your organization’s learning culture with clear, actionable strategies to address the challenges.

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Essays on Talent Management

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1.1 INTRODUCTION AND BACKGROUND Talent is defined by the dictionary.com as the special ability that enables someone to perform the job very well. Talent Management is the term used to define sound and integrated human resource with the aim of attracting the correct people, with the right skills and expertise for the right positions at the right time. It can also be explained as the process of ensuring that the company attracts, retains, motivates and develops the talented people with the aptitude and abilities it requires in order to meet the current and future organizational needs. Companies are run by people therefore the talent of these people will highly determine the success of the company. World class organisations succeed in today’s world because they know how to SCORE, because they employ people with the right skills. The modern workplace is changing rapidly with advances in technology changing the nature of the world’s economy from being predominantly product based towards a new knowledge paradigm. We live in a challenging competitive global business environment which is becoming intensive and organisations have increasing pressure to perform better than before. Formation and safeguarding of knowledge has become a key tool in accelerating competitiveness and enhancing organizational capabilities to respond to market charges (Bryan, 2004), wherein employees skills and personalities are appropriately deployed to optimize performance, is critical and difficult task. In addition identification and developing executives who have leadership abilities is a very demanding process that is equal parts of Arts and Science (Klein and Miles, 2003). For any organization in order for it to carry out its mission successfully they need to develop as well as ensure that they deploy the right and talented employees and the right positions in order to articulate the passion and the vision of their organization. Therefore in order for the business strategy to make sense, the talent management needs to be linked to it. Erongo RED is an abbreviation for Erongo Regional Electricity Distributor Company (PTY) LTD a company that is responsible for the supply and distribution of electricity in the Erongo Region in the Republic of Namibia. The company made its vision as its driving strategy. Erongo RED is having a staff compliment of 300 employees of which 108 are Female and 192 Male. The core business units are Network Operations and Network Engineering. These divisions employs the majority of employees which Electricians and Engineers. Erongo RED also has support divisions which are Supply Business unit responsible for Customer care, Billing and Metering, Finance and Corporate Services which is responsible for the financial administration of the company, Human Capital responsible for all human resources activities which includes talent management, Supply Business unit and last but not least the Office of the CEO which is responsible for Business strategy, Marketing and Public Relations and Auditing as well as for the overall management of the company. Talent management at Erongo RED has a place at executive table and talent management is a key performance indicator for Erongo RED business strategy. Therefore talent management in Erongo RED is well aligned with the company’s strategy.

2.Literature Review 2.1 Definition of Talent Most researchers defined talent from different perspectives. According to CIPD 2007, definition the way the specific company defines talent it depends on the strategy that is being used by the business as well as the nature of the organisation. Therefore there is no one single definition for the word talent, it basically depends on the language that is being shared in the specific company (Tansely 2011). Talent is unique to organization as is particularly affected by factors like industry, its nature, individuals, implications and so on (CIPD 20 07). CIPD 2007 defined talented people as people who can make the potential difference in the company. According to Ready & Conger 2007 they defined talent as a group of employees with an average knowhow and skills and are prepared to be promoted to executive positions thus are regarded as best employees in the organization.

2.2 Definition of Talent Management Different definitions are available for talent management however it remains unclear on what exactly what it really means (Lewis & Heckman 2006). Different researchers however put more emphasis on having the right number of people at the right place at the right time that have the necessary skills sets required and level of motivation are vital fundamental to talent management (Stephenson & Pandit 2008). Similarly others equally believes that talent management embraces all activities within the organization ranging from employee attraction, employee development, selection as well as retaining them in the suitable positions ( Stahl Et al, 2007). According to Iles et al (2010) & Capelli (2008), there is a relationship between talent management and human resource management which presents a different analysis. As illustrated in the following points of view definitions of talent management: 1) Talent management is not essentially different from Human Resource Management (HRM). It includes HRM activities and hence can be said that talent management is a rebranding term of HRM, which has transformed from the traditional term of human resource management to the new concept of talent management. Therefore this new brand of HRM has focused on how to manage talents strategically. 2) Talent management includes human resources management and organizational development, but talent management highlights on talented people, accordingly, the focal point is talent pool, both internal and external of the organization.

3) Talent management focuses on proficiency development through managing the development of talents within the corporation. Their focus is on talents is on talent movements instead of talent pool. The theory has originated from operational and logical theories. Talent management programs are shaped to provide pools for providing certain job categories and focus on development of specific individuals who are qualified to make succession in the organization.

2.3 The Concept of Talent Management and its importance The concept of talent management originated during World War II (Cappeli, 2008). Talent Management has become the most important component of corporate strategies in most of the organisations (Bano, Khan, Rehman & Humayoum, 2010). Talent Management is the additional management processes and opportunities that are made available to people who are considered to be talent (Blass, 2008). Talent management is directly linked to concept that includes human resource planning, strategic human resource management and employability (Brown and Hesketh, 2006). The basic purpose behind talent management is mainly to improve the process of recruitment, selection, retention and employee development in order to meet current challenges faced by organisations as well as improving organizational performance by fulfilling organizational needs (Bhatnagar, 2007). Successful talent certifies the organisations to attract and retains essential talents and employee’s engagement who believes that talent management is fundamental to talent and is associated with a number of typical human resources management practices or functions like recruitment, training and development (Heinen 2004). Managers should develop their strategy for talent engagement, motivation as well as retention as per talent’s external and internal factors. Most organisations has started to capitalize in long term strategies to employ as well as develop management skills, in additions to employing integrated talent management development strategies, henceforth a well-developed strategy can benefit in overcoming organisations difficulties as well as enhancing business success Rowland (2011). Literatures by researchers like Ulrich (1989, 1996, 2005), Pucick (1996, 2005) and Capelli (2008) indicates the importance of talent management as well as its benefits. The worldwide war for talent is becoming a serious driving force in corporate competitive and performance, the idea of talent management has become increasingly popular (Axelrod et al 2002). 2.4 Talent Management Practices Talent Management approaches are meant at improving employee benefits, employee engagement, competence compensation, learning and development and Instrument for measuring the outcome of talent management are absenteeism, turnover and productivity (Mudoli, 2009). Talent Management deals with the implementation of program and strategies to attach the unique talent of individual employees and translate their talent potential into optimum organizational performance. (UK Commission for Employment & skills, 2012) point out the various approaches for the management practices such as The “Inclusive approach, The Executive Talent pool approach, The Future Leaders approach, The Succession Planning approach, The Blended approach. 2.5 The need for talent management Human resources (HR) work in order to obtain as well as retain manpower therefore talent management is on HR professional minds in today’s world. In order for talent management to be successful it is vital to employ people who are best suitable in the organization. According to Shravathi and Sumant, 2008 most employees also identify themselves with specific companies mostly in the light of forecasted labour shortage. Companies that officially decide to accomplish their talent commence a strategic analysis of their current human resources process (Shravathi and Sumant, 2008). This is done with the aim of ensuring that a coordinated performance oriented approach is adopted. The need for talent management also resulted from the characteristics of the existing employees which are currently in the process of transformation and are capable and liable for significant changes. According to Sojka, 2010, changes are as follows: o Changes in the workforce trends Global organisations have notices the alarming reality that significant demographic, economic, social-political and technological changes dramatically transform the workforce too. Changes in the birthrate, in the age of retirement and the workers requirements reduce the volume of the workforce and cause significant skill shortage, while on the other hand removal of the business barrier, progress in communication and the latest economic findings highly prioritize the global and virtual workforce. o Workforce smaller in numbers and insufficiently skillful o Global dimensions of the workforce o Vitality of the workforce o Diversity of the workforce o Autonomy and self-containment

2.6 Approaches to Talent management 2.6.1Talent Attraction Talent attraction includes recruitment and selection, employer branding, employee value proposition and employer of choice (Armstrong, 2006). Recruitment and selection entails that companies utilize different methods and techniques of selecting the correct talent that reflects the culture as well as the value on the particular company (Armstrong, 2006). The first thing in talent management task strategy is the creation of the recruitment pool, which can either be an internal pool or an external pool. According to David et at 2007 the best way create a talent pool is an internal pool since the employees are already familiar with the business process and can be incorporated directly into the positions thus uplifts the morale of the workforce. Employer branding includes development of the organisation’s image good enough such that it attract employees. In order to attract the best, organisations branding is a very useful strategy, therefore for a company to attract the best it need to have a good image (Tanuja 2007). 2.6.2 Talent Retention Employee turnover can have a direct impact in any organization. Not only does it cost your company in terms of recruitment, on-boarding and training, it also affects your ability to continuously offer high-quality service to your client (Zikmund, 2000). Talent Management programs offers companies proven and practical way to meaningfully improve satisfaction and retention in order to reduce turnover and its associated costs (vol5). It also stated that the happier and productive employees deliver high level of customer service and help to deliver strong overall business results that will contribute to the overall productivity of the company. In order to attract as well as to retain talent for compatibility, there should be the fit between the employer and employee, Lockwood (n.d). This includes introduction of the different activities that will help in employee retention such as performance incentives, succession planning as well as performance management system. 2.6.2 Learning and Development According to the CIPD (2006) leaning and development survey, the two main objectives of talent management are: developing individuals as well as growing future senior managers. This survey also reveals that about 94% of the respondents well-designed talent activities can have a positive impact on an organisation’s bottom line. According to Byhan et al (2002), if a company fails to have a well-defined profile of what it clearly needs from its future senior leadership then it will not be able to develop people for future management positions as well as clearly assess the readiness of high-potential individuals for leadership roles. In the same vein Byhan et al (2002) also states that the characteristics of the leaders who will carry it into the future should also be stated. In order to ensure readiness employees need to be constantly developed as well as ensure that there is a succession plan in place. All these have to be linked to the company’s strategy.

2.6.3 Career Management According to Allen 2005, there are several element of career management, which includes career development and planning which focuses on planning of employee growth and progression, career path that involves creating established career paths and families of jobs inside a given area allowing employees have a vision of progression as well as goals and expectations, employees development consisting of programs and initiatives, learning and development initiatives, management coaching, competitive reward systems, career center, succession planning, performance management/ feedback and cross-functional development programs. Career management has both formal and informal activities which include employee’s workshops, job rotations, job enrichment and career progression ladders for example organizationally planned programs or developmental stage theories (vol5). Companies also contribute to career identity by providing ample opportunities for self-development, opportunities for progression and mentors (Dagharm, 2013). According to Sturgeset al (2002), career management increases employee’s commitment and henceforth organisation’s performance. Van Dam (2004) has established that people who experience more support have high higher employability orientation. 2.6.4 Succession Planning Management Succession planning and leadership development are very important business strategies to develop and retain people under talent management umbrella (Lockwood, n.d). The responsibility for executing successful planning differs, starting with Human capital, then senior management, CEO, Chief Operating Officer, (Lockwood, n.d). According to Miller-Merrel 2014 the benefit of succession plan includes: o Ensuring continuity in case a particular employee resigns retires or gets dismissed. o It creates a foundation of qualified and capable individuals in the company o It helps in maintaining the strategic plan o It is a commitment from the company to develop a career path for individual employees o It creates an external reputation that the company develops the employee o It portrays the message that employees are important to the company.

2.7 Main factors affecting talent management According to authors Hatum, 2010, Schuler, Jackson & Tarique 2011, the main factors affecting talent management are as follows o Globalisation- this provides companies as well employees with new prospects and at the same time it makes more diverse and integrate, competition is more strong, complex and extremely widespread. o The knowledge economy- knowledge is used as the greatest significant source of the company’s competitive advantage, it is against this background that knowledgeable workers are becoming strategically important for organization. o Changing the world of work- this is described by creating new forms of work as well as new jobs, also by the imbalance between the required and available skills, by the scarcity of high-skilled worker, by the increase in the global and simulated workforce. In today work life is characterized by difficulty, randomness and uncertainty. o Demographic changes- are accumulating in the age profile of the workforce (ageing staffs generation Y and younger generations) and in the structure of the staff (increasing diversity, different skill sets, varied expectation). o Technology- makes the world faster and more connected and it has a significant effect on offices and the staff.

3. Findings 3.1 Inclusive vs Exclusive approach Inclusive approach is an approach whereby everyone is regarded as a talented employee, this simply means that all employees have the right combinations of inborn abilities which are complemented by the knowledge, skills, experience and competencies that is required to give the sterling performance in a specific situation. Exclusive approach is an approach whereby a talented employee represents an extra ordinary efficient employee with a high potential who can make a significant contribution to the organization. Erongo RED is using both approaches inclusive and exclusive approaches of talent management. In terms of exclusive the company is making use performance management system as a practice whereby only employees from job grading C1 and above are introduced to performance management program which is aimed at assessing and evaluating employee’s performance in order to meet their targets. While on the other hand the company also applies inclusivity whereby it accords all its employees irregardless of job grading, skills, educational background etc. equal chances of training and development, study aids, mentoring and coaching. The following table is a sample used by Erongo RED to assess employee performance. Item Description Key performance Area (KPA’S) Key functions that one need to perform Measures/Performance Indicators Indicators that will show that the task is done Baseline Baseline should also be indicated Target Percentage that is being targeted Actual achieved Actual percentage achieved Weighting The weight allocated to the specific task Rating Rating given by the person doing the assessment Score Final score Source: Erongo RED

3.2 Benefits of inclusive approach Inclusive approach benefits Erongo RED in the following manner: 1) It gives an opportunity to employees show their potential through performance 2) Everyone is deeming to have talent of some sort and should therefore have access to programme that develops their talent. 3) Erongo RED targets a small group, focus on them and expose them to training in order to develop them.

3.3 Benefits of exclusive approach Erongo RED decided to adopt exclusive approach due to the following benefits: 1) It gives the company the ability to focus on the succession plan for the company as well as ensuring that there are available future leaders for the company. 2) It helps the company to target resources and also be able to effectively monitor return on investment. 3) It helps the company promote as well development of the employees within the talent pools

3.4 Potential Barrier to exclusive approach Potential barrier to inclusive approach that Erongo RED is currently facing especially to young generation is the fact in many instances people tent to leave the company the after they are trained.

3.5 Talent Management practices being applied by Erongo RED

Source: Erongo RED Talent management Policy Document

3.6 Effective the application of talent management practices in Erongo RED Despite talent management being a new concept, the application and practice is becoming very effective in Erongo RED. Erongo RED has managed to develop talent for its employees in various ways and is still continuing. Initiatives by the company includes: Organisational Development initiatives when it comes to training, Performance management, Graduate programme, Levels upgrade for Electricians, the recent investment in renewable energy, Management Development Program for the middle management, succession planning etc. 3.7 Diversity consideration for talent management practices at Erongo RED Erongo RED talent pool is diverse in terms of the following: o Age o Gender o Education background o Skills and expertise o Culture Erongo RED concentrates on age as well as gender in order to give them boost as well as exposure. In terms of gender Erongo RED employs a number of women in technical and electrical positions for example, 3 female electricians, 2 female Meter Readers and 2 female Control center technician’s positions which are traditionally known for male employees. The company has also developed quite a number of females and are now 6 female employees occupying senior management positions. In terms of age Erongo RED has managed to secure the employment of a young, visionary and ambitious 44 year old Chief Executive Officer with qualification in Electrical Engineering as well as Master of Business Leadership. The executive team is also diverse with different skills which are not only technical but those that relate to diversity, ethnicity as well as cultural diversity.

3.8 Drivers of Talent Management in Erongo RED Talent Management in Erongo RED is driven by Executive management and the Board of Directors. 3.9 Stakeholders in the talent management practice and effectiness of their roles. 3.9.1 Executive management The executive management (EXCO) of Erongo RED is the main driver of the talent management strategy. They ensure that talent management is aligned with the corporate strategy. They also approve strategies in terms of talent management e.g policies, provides finance as well as ensuring that there is correct technology sufficient to drive the initiatives. 3.9.2 Human Resource management Human resource plays a very crucial role in talent management process ranging from talent seeking i.e. advertising, short listing, interviews, recruitments, promotions, Training and development etc. They facilitate most of talent management processes as well as policy formulation. 3.9.3 Line managers Line managers in Erongo RED identify the need within their respective divisions as well as the skills and capabilities required from people in order to perform their duties. Line managers also motivate as well as give employee support. 3.9.4 Employees Employees are the ones that are required to perform, they are key players. Employees are positioned into positions according to their level of experiences, education as level expertise. Employees take ownership and are responsible for their actions, seek out clear and frank interaction with other employees, show confidence through their performances, they learn how to be leaders and develop leadership capabilities for themselves.

3.10 Metrics being applied by Erongo RED

3.11 Erongo RED strategic approach toward talent management. Is talent management aligned with the business strategy? Erongo RED follows a strategic approach toward talent management as illustrated in the table below:

Alignment of talent management with Business strategy at Erongo RED Objectives KPI Measurement Critical task/ Strategic initiative Target date P1 Transform the organizational culture % Achievement on annual Cultural value Survey % Staff Achieving performance Targets P1.1 Facilitate Annual Culture and implement improvement strategy P1.2 Implemented and roll-out employee wellness plan P1.2.1 Review and update IDP’s as per new targets P1.2.2 Implementation 80% June 2016

P2 Implement Empowerment and Retention strategies for staff (5%) % Staff turnover Implementation of HRDP/IDP P2.2 Attraction/Succession and Retention Policy P2.2.1 Implement Annual competency Based Training & Development strategy P2.2.2 IDP’s (Training & Development interventions aligned June 2016

June 2016 Source: Erongo RED 4. Discussion 4.1 Inclusive and Exclusive approach In terms in terms of inclusivity, the company values the contribution of all the employees in such a way that they all contribute to the objective of the overall objective of the organization. Erongo RED gives equal opportunities to all employees in terms of developing employee’s skills through various trainings. The company is also assisting those who do not perform by offering training as well as motivation. Erongo RED has different targeted programs from as low as cleaners and clerks. Erongo RED has also recently trained all its middle management, by sent them for Management Development programme (MDP), therefore this group of about 20 employees was exposed to MDP training for about six month in order to develop their management talent, therefore they did not select specific managers but included the whole group of middle management. This is in line with the literature by Ready & Conger 2007 who defined talent as a group of employees with an average knowhow and skills and are prepared to be promoted to executive positions thus are regarded as best employees in the organization. All the middle management is regarded as potential employees that why they were all given equal chance. In terms of exclusivity approach Erongo RED has demonstrated this by only implementing performance management system to the staff from C1 and above. Employees performance is being monitored, measured, they are given targets that they are supposed to meet and given responsibilities. Erongo RED is also practicing exclusivity or elitist approach whereby it reserves the talent for high-value and high performing staff. Erongo RED is interested more in developing the talent of the staff the individuals of which it sees potential for growth as well as potential for better contribution to the effectiveness of the growth of the company. These are the people that are regarded as future leaders or employees with potential that can take the company to the next level. Therefore, they identify these people and expose them to various trainings and so as to give them potential for growth. All this is done through performance appraisals. The company applies exclusivity approach mostly to the staff in its core business units which is Network Operations as well as Network Engineering. The aim of this is to ensure that it has enough qualified Engineers as well as Electricians. Erongo RED also uses this to create leadership roles, succession planning as well as a mean of retaining high performing staff. They expose lower staff level to key Management meetings and initiatives for example acting in high capacity when incumbents are on leave. Erongo RED also does mentoring for graduate trainees. 4.2 Benefits of Inclusive and exclusive approach Inclusive gives employees equal chances to show their potential, but only those who are exceed the threshold will be included in a talent programme. Erongo RED gives equal opportunity to all employees by according them with job opportunity, on the job training, necessary equipment needed and all the support needed to perform their job to the best of their ability. When this approach is being used this means that every employee will then be for example partake in performance management. This will benefit the organization in the fact that all employees as low as the cleaner will start to take responsibility for their action as they know that their performance is being monitored and evaluated at the end of the day. Any development initiative targeted by the company will then be benefiting all employees as well as remuneration strategy. The objective exclusive approach is mainly to enable the company to attract high caliber candidates and to retain high flyers and employees in roles which are regarded as specific or skills shortage areas. Without these roles the company would be unable to proficiently meet its company objectives. Erongo performs workforce projections data and demographic analysis in order to establish risk area, whereby risk analysis is performed in order to compare current and future vacancies in order to determine critical position in the company. 4.3 Potential Barrier to Inclusive and exclusive approach Potential barrier to inclusive and exclusive approach that Erongo RED is currently facing especially to young generation is the fact in many instances people tent to leave the company the after they are trained. One of the biggest problem to constraint Erongo RED to two approaches is the fact that most employees especially the generation Y people born between 1980 and 2000 are changing employment constantly therefore they tend to leave employment as soon as they are trained therefore this constraints Erongo RED to inclusive approach as it is investing a lot without necessarily getting any return on investment. 4.4 Talent Management practices at Erongo RED 4.4.1 Strategy There is an alignment between the human capital division of Erongo RED and the Business strategy which recognizes the importance of talented employees which highly contributes to the achievements of long term objectives of the company. There are activities which involves culture transformation that ensures facilitation of annual cultural survey, implementation of employee wellness plan, review of Individual Development Plan as well as updating of employees profiles. The alignment of the talent management to the business strategy also includes the Implementation of Empowerment and Retention strategies. This ensures talent attraction, succession plan and Retention policies are in place. 4.4.2 Talent seeking When it comes to talent seeking Erongo RED first put strategy in place in order to identify competencies and key critical roles and skills that are required. It also performs annual workforce planning reviews, offer bursaries as well as job attachments for interns. 4.4.3 Recruitment and Promotion Recruiting a best talent is very critical for any company. Research shows that it is estimated that high performer are 10 to 100 times equal to the person’s compensation. Therefore recruiting a best talent on a single person per year has a great potential to increase the company’s revenue from 1 million to 10 million per year. This is Erongo RED’s philosophy. 4.4.4 Performance Management Erongo RED have a performance management system in place whereby all employees from C1 and above have all signed performance contracts indicating their Key Performance Areas as well as targets that they are expected to achieve in those area. Performance is then assessed every 6 month in order to determine if they are reaching the targets that they have indicated. This is very effective because it gives people that sense of ownership, when you sign for something then you know that it becomes your responsibility and when it is not completed on time and you know very well it is you to be blamed. This also enable alignment of strategy to basic operational needs and requirements. 4.4.5 Talent Development In terms of talent development Erongo RED is investing a lot in training and development for its employees. Erongo RED is offering financial assistance to its employees who would like to further their studies in order to obtain formal qualifications as well as those who would like to purse in-service training as well as pre service training. Apart from that the company is develop the talent of its employees whereby for instance if there is an open position and a certain employees identified to have potential qualities and capabilities to fill that position, even if that specific employee does not have the required experience but have the minimum qualification or vice versa this employee can be given a chance then the company will help this employee to fill in the gap so as to develop the required skills. For example: If a manager is hired due to the exposure in the specific division this manager can be sent for Management training program just to prepare for management skills. Other initiatives includes: sending employees to seminars, skills upgrades for Electricians at Namibia Institute of Mining Technology, offering bursaries to students in the field of Electrical Engineering and Information Technology and study aids. The main objective of talent management as mentioned in the literature is to developing individuals as well as growing future senior managers, therefore Erongo RED does this in order to ensure that it prepare its employees for future leadership positions.

4.4.6 Critical skills gap analysis Erongo RED does critical skill gap analysis this help the management in compiling the skill record of critical and uncommon skills that have the potential of affecting the current as well as future business performance capability. They also recognize the skills development needs of talents pools in the company thus make it easy for management to develop as well as implementing an effective Human Resource Development strategy. 4.4.7 Connection of team goals to corporate goals Strategic goals in Erongo RED are cascaded to all business units and each business unit has strategic objectives that are linked to overall company objectives so that employees and business units are not working in silos. 4.4.8 Talent Retention It is the responsibility of every supervisor in Erongo RED to take ownership and retain the talent for the people under s/he supervision. Superiors at Erongo RED are advised to maintain that the company does not lose the talented employees. Supervisors can either provide these talented employees with other opportunities so that their talents are not lost. Erongo RED is one of few companies that have best remuneration and benefit structures which the company provides far beyond the market. Included in the benefits is the 100% subsided medical aid for member plus five dependants. These are some of many retention strategies that the company has employed. Erongo RED has thus managed to retain for quite a long time the skill of its many employees especially those in critical positions for example Engineers and Electricians. Various training development opportunities are also part of the company’s retention strategy. In the literature we read that in order to attract as well as to retain talent for compatibility, there should be the fit between the employer and employee, Lockwood (n.d), therefore this imply that Erongo RED is trying by all means to ensure that there is a fit between Erongo RED its employees.

4.4.9 Workforce productivity Erongo RED continuously tries to improve as well as become efficient and effective and try to identify and track the leading indicators of workforce productivity. The company measures the amount of quality or work that employees have performed within a specific period. This is labour productivity and performance is monitored through the process of performance management. At the end of the day overall productivity should reflect in the income statement of the company. 4.4.10 Succession Planning Succession planning is one of the key tools that the company has if it wants to develop leadership capability of high-potential employees. Erongo RED have registered two of its Executive management into the Executive Management Development Programme (EMDP), this is a way to prepare the top members of the executive management for the top position in the company. Exposing lower level staff to strategic meetings or give them opportunities to act in high capacity are also efforts for succession planning. All these are agrees with Miller-Merrel 2014, who mentioned that ensuring continuity in case a particular employee resigns, retires or get dismissed as one of the benefits of succession planning. Organisations should have future leaders who are capable of driving their business plans forward. Therefore approach to talent management should start with the strategy and concludes with purified individuals and leadership plan. 4.4.11 Organisational Culture Erongo RED is having a culture team committee which handles all organizational cultural aspects. A recent cultural survey which was conducted shows a drop in ENTROPY level of Erongo RED from 35 to 15 at the moment. In order to ensure change in organizational culture the following changes has been done at Erongo RED: Readiness for change Articulate a strong business case for change, engagement session with stakeholders (union, board, EXCO and staff members), culture change: embark on culture change journey to enable new strategy and vision. Leadership changes: The company has got new CEO & Board of directors, reshuffling of senior management, realignment of managers through a process of dialogue and coaching. Engaged staff to discuss results Discussion sessions in order to explain results, unpack issues, brainstorm solutions & interventions to get buy-in for change ahead as well as identifying quick wins too get buy-in and build trust and reduce resistance. 4.4.12 Finance Measures In Erongo RED employees are regarded as valuable assets as well as greatest investment. In any organization it is a big challenge to attract as well as retaining high performing employees. When employee leaves the organization a valuable part of the company investment is lost. Therefore Erongo RED uses the following information in order to determine the Employee Turnover rate (the cost of losing the valuable talent) in order to see how can they strengthen their retention strategy. o Number of employees who currently in those positions o Annual percentage of turnover in that same position o Annual compensation in that position o Average tax and benefit cost calculated as percentage of salary o Average number of candidates interviewed since the inception o Average number of candidates assessed since inception

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• Workplace Culture

Talent Management Essentials: Strategies for the Modern Workplace

• May 31, 2024

Table of Contents

Introduction

In today’s rapidly changing business environment, effective talent management has become more crucial than ever. As organizations navigate through technological advancements, cultural shifts, and competitive landscapes, the need to attract, develop, and retain skilled professionals stands out as a fundamental driver of success. Talent management, encompassing everything from recruitment to retirement, plays a pivotal role in harnessing the potential of human resources to achieve organizational goals.

This blog explores essential talent management strategies tailored for the modern workplace. We delve into how these strategies not only help in building a resilient and adaptable workforce but also contribute to a culture that promotes continuous growth and innovation. Whether you’re a startup looking to scale or an established corporation seeking to invigorate your workforce, understanding and implementing these talent management practices can propel your company towards greater efficiency and enhanced profitability. Join us as we unpack the key elements of effective talent management that are indispensable in today’s business world.

Additionally, these practices foster a workplace environment that nurtures talent from the ground up, providing pathways for advancement and personal development that align with organizational objectives. Effective talent management also involves a keen awareness of industry trends and emerging skills, ensuring that your workforce remains relevant and highly capable in an ever-evolving market. By prioritizing the development and well-being of your employees, you can create a robust organization that not only meets current demands but is also prepared for future challenges.

Section 1: Understanding Talent Management

Definition of Talent Management and Its Components

Talent management refers to the integrated process through which organizations attract, develop, manage, and retain human capital. This strategic approach encompasses several key components:

• Talent Acquisition: The process of identifying and attracting the right skills and personalities to your organization.
• Employee Development: Involves training and professional growth opportunities designed to enhance employees’ skills and competencies.
• Performance Management: Regular assessment of performance, setting objectives, and providing feedback to ensure employees meet their career goals and organizational needs.
• Employee Retention: Strategies to keep valuable team members satisfied and engaged to avoid turnover.
• Succession Planning: Preparing for future needs by identifying and developing potential leaders within the organization.

Why Talent Management Is Crucial for Organizational Success

The significance of talent management cannot be overstated—it is the backbone of a company’s strategy and directly contributes to its success. Effective talent management ensures that an organization has the right people with the right skills at the right time. Here’s why it’s crucial:

• Enhanced Employee Performance: Properly managed talent aligns with the company’s goals and increases overall productivity.
• Competitive Advantage: A strong talent management strategy helps companies stand out by fostering innovation and maintaining a workforce that can adapt to market changes.
• Employee Satisfaction and Retention: Organizations that invest in their employees’ careers boost engagement and loyalty, which reduces turnover and the high costs associated with recruiting and training new staff.
• Risk Management: Effective succession planning and development reduce the risk associated with turnover, particularly in key leadership roles.

Through these practices, talent management not only contributes to immediate operational success but also ensures long-term sustainability by preparing the organization to meet future challenges and opportunities.

Section 2: Key Strategies for Effective Talent Management

Comprehensive Talent Acquisition

• Utilizing Technology for Recruitment: Leverage cutting-edge recruitment technologies such as AI-driven applicant tracking systems (ATS) and data analytics to streamline the hiring process. These technologies can also help you identify the best candidates more efficiently.
• Emphasizing Cultural Fit and Potential as Well as Skills: Beyond technical abilities, assess candidates for their potential to grow with the company and their alignment with its values and culture. This approach helps ensure long-term engagement and success.

Employee Development Programs

• Importance of Ongoing Training and Career Development: Continuous investment in employee development is crucial for adapting to changing industry standards and technologies. According to a Gallup study , organizations that commit strategically to employee development report 11% greater profitability and double the employee retention rates.
• Examples of Effective Development Programs: Implement tailored training programs such as leadership training for high-potential employees, technical skill enhancement workshops, and cross-functional training sessions that encourage broad skill application.

Performance Management

• Modern Approaches to Performance Reviews: Transition from annual reviews to more frequent, informal check-ins. This can provide immediate feedback and foster a more dynamic and responsive approach to performance management.
• How Continuous Feedback Contributes to Performance: Continuous feedback mechanisms help employees adjust their work in real-time, leading to better outcomes and increased job satisfaction.

Succession Planning

• Preparing for Future Leadership Needs: Proactively plan for future leadership roles by identifying and assessing potential candidates early. This ensures smooth transitions and organizational stability.
• Methods to Identify and Nurture Potential Leaders: Use leadership development programs, mentorship, and rotational assignments to prepare promising individuals for future roles, ensuring that the organization has a robust pipeline of capable leaders.

Employee Retention

• Understanding What Keeps Employees Satisfied and Engaged: Engage with employees through regular surveys, open forums, and exit interviews to understand their needs and concerns.
• Strategies Like Competitive Compensation, Recognition , and Work-life Balance: Offer competitive salaries, benefits, and recognition programs, along with flexible working conditions to maintain high levels of employee satisfaction and loyalty.

Section 3: Leveraging Technology in Talent Management

Overview of the Latest Tech Tools and Software

Technological advancements have revolutionized the field of talent management, with tools such as Applicant Tracking Systems (ATS) automating the recruitment process and Learning Management Systems (LMS) facilitating adaptive learning opportunities. Performance management software has also evolved, supporting continuous feedback mechanisms and alignment of individual goals with organizational objectives.

Enhancing Recruitment with Technology

Artificial Intelligence (AI) in recruitment tools can analyze candidate responses. It assesses emotional intelligence and cultural fit more effectively than traditional methods. Professional networking platforms, like LinkedIn, enable targeted recruitment campaigns. These platforms reach highly qualified candidates who are likely to engage with the role. Additionally, immersive technologies such as Virtual Reality (VR) and Augmented Reality (AR) provide candidates with virtual tours and job simulations. These experiences enrich their understanding of the company culture and expectations.

Advancing Training and Development through Technology

E-learning platforms provide accessible and diverse content, enabling employees to engage in self-paced learning across different devices and locations. Gamification adds a layer of engagement, utilizing competition and interactive elements to enhance motivation and retention of training material. Virtual classrooms and webinars facilitate real-time learning and collaboration, essential for global teams.

Technology’s Role in Employee Retention

Predictive analytics in talent management software help preemptively identify retention risks and tailor interventions to enhance employee satisfaction. Platforms like Woliba integrate wellness, engagement, and recognition into daily workflows, running comprehensive programs that boost morale and retain top talent through regular, meaningful engagement and wellness initiatives.

Leading into the Next Challenges

As technology continues to reshape the landscape of talent management, organizations gain unprecedented capabilities to optimize their HR functions. However, adopting these technologies also presents new challenges, which will be explored in the next section of this blog.

Section 4: Challenges in Talent Management

Adapting to Generational Shifts

• Understanding the Challenge: Today’s workforce is more generationally diverse than ever, encompassing Baby Boomers, Generation X, Millennials, and Generation Z. Each group has distinct values, communication styles, and work expectations, which can create friction and misalignment within the workplace.
• Solutions and Best Practices: Emphasize the creation of a flexible work environment that caters to diverse needs and preferences. Implement training programs that foster cross-generational collaboration and understanding. Regularly update these programs to reflect the evolving dynamics of the workforce.

Managing Remote Teams

• Understanding the Challenge: With the rise of remote work, managing teams spread across different locations presents challenges in communication, cohesion, and culture maintenance.
• Solutions and Best Practices: Leverage technology to maintain constant and open communication. Utilize tools like video conferencing and collaborative software to create a virtual office experience. Establish clear remote work policies and regular check-ins to ensure team members feel connected and valued.

Integrating Technology with Human Elements

• Understanding the Challenge: While technology offers incredible tools for enhancing talent management, integrating these solutions with the human elements of HR can be difficult, potentially leading to an over-reliance on technology and a lack of personal touch.
• Solutions and Best Practices: Balance automated systems with human interaction. Ensure that technology enhances rather than replaces the human aspects of HR practices. Provide training for HR personnel to effectively use technological tools while maintaining strong interpersonal relationships with employees.

Navigating Compliance and Security Concerns

• Understanding the Challenge: As more HR processes move online, organizations face increased risks related to data privacy and regulatory compliance.
• Solutions and Best Practices: Stay updated with local and international data protection regulations. Invest in secure platforms and conduct regular security audits. Train employees on the importance of data security and the role they play in maintaining it.

Handling Resistance to Change

• Understanding the Challenge: Changes in talent management practices, especially those involving new technologies or methodologies, often encounter resistance from employees accustomed to traditional ways.
• Solutions and Best Practices: Implement change management strategies that include clear communication, education about the benefits of the new processes, and involvement of employees in the transition process. Address concerns openly and provide support to ease the adaptation period.

Section 5: Measuring the Success of Talent Management Initiatives

Key Metrics and KPIs to Track the Effectiveness of Talent Management Strategies

• Employee Retention Rate: This crucial metric measures how well your organization keeps its talent. A high retention rate often signals strong talent management practices that align with employee needs and expectations.
• Employee Engagement Scores: You can obtain these through regular employee surveys. These engagement scores provide insights into how emotionally and professionally committed employees are to the organization. High engagement is typically a direct result of effective talent management strategies.
• Time to Hire: This measures the efficiency of the recruitment process, from job posting to offer acceptance. A streamlined, shorter time to hire can indicate effective recruitment strategies and a responsive talent acquisition team.
• Training Return on Investment (ROI): Calculating the ROI of training initiatives involves assessing the benefits gained in terms of improved performance and comparing them against the costs. This metric helps organizations understand the value derived from investing in employee development.
• Succession Planning Readiness: Measures how well an organization is prepared to fill key roles without disruption. Success can be indicated by the smooth transition of internally promoted employees into their new roles, reflecting effective planning and development.
• Quality of Hire: Assesses the long-term effectiveness of hiring processes by evaluating new hires’ performance, including goal achievement and overall impact on the organization. High quality of hire indicates robust screening and selection processes.

By regularly monitoring these KPIs, organizations can gauge the effectiveness of their talent management strategies and make informed decisions to enhance their HR practices. These metrics not only reflect the current health of various HR initiatives but also guide future improvements and innovations in managing talent.

Throughout this blog, we have explored essential talent management strategies. We have looked at using cutting-edge technology in recruitment and employee development. We also covered adapting management practices for a diverse and remote workforce. Each strategy is vital for building a resilient and effective organization. Businesses can attract, develop, and retain top talent by implementing comprehensive talent acquisition methods. They can also create robust employee development programs and maintain a continuous performance management system. Preparing future leaders through succession planning and focusing on employee retention are also key.

In an era of rapid technological advancements and shifting workforce dynamics, adapting and innovating talent management practices is crucial. Embracing these changes enhances operational efficiency. It also boosts employee satisfaction and loyalty, driving overall business success.

For organizations looking to enhance their talent management systems, tools like Woliba are invaluable. Woliba supports wellness, people management, and employee engagement. It is an excellent choice for companies committed to a productive and happy workplace.

By continuously evaluating and refining talent management strategies, your organization can remain competitive. It can thrive in the modern business landscape.

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In This Article Expand or collapse the "in this article" section Global Talent Management

Introduction.

• Reference Sources
• GTM: Origins and Key Authors
• GTM: Conceptualization
• Global Talent
• Factors Influencing GTM
• GTM Practices
• GTM Challenges

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Global Talent Management by Vlad Vaiman , Eva Gallardo-Gallardo , Marian Thunnissen LAST REVIEWED: 25 September 2019 LAST MODIFIED: 25 September 2019 DOI: 10.1093/obo/9780199846740-0173

Global talent management (GTM) has its origins in international human resource management, and it emerged around the turn of the 21st century as a key strategic issue for multinational corporations (MNCs) confronted with talent shortages and mobility of staff on a global scale. It refers to the activities and processes that involve the systematic identification of key positions which significantly contribute to the organization’s sustainable competitive advantage, and the identification, attraction, selection, recruitment, development, and retention of talented individuals on a global scale to effectively fill in these roles. So, as a concept, GTM is both broader than leadership succession and more exclusive than human resource management. It focuses on key positions considering the global scope of the organization, key individuals (with high levels of talent) to step into these roles, and a differentiated human resource architecture to effectively manage such talented individuals. GTM is differentiated from strategic talent management (TM), since strategic TM deals with the TM matters of domestic organizations, while GTM is focused on the TM issues of organizations operating on a global scale. GTM, however, is strategic and multidisciplinary in nature. As mentioned previously, it is mostly rooted in the subjects of international human resource management, international management, economics, and organizational psychology. Other contributing disciplines include sociology and political science.

Since GTM is a relatively new field of study, there are a just a few textbooks available. They mostly tend to cover the history and context of the field, its conceptual and intellectual boundaries, the contextual factors influencing GTM, and core practices and contemporary challenges. Collings, et al. 2019 , now in its second edition, is generally seen as the most widely used representative textbook. The first edition of the book has also been used as a textbook, albeit less widely. Al Ariss 2014 is also a popular supplement text that extends GTM applications to developing and emerging countries.

Al Ariss, Akram, ed. Global Talent Management: Challenges, Strategies, and Opportunities . Cham, Switzerland: Springer International, 2014.

It offers an open and inclusive approach in assessing the challenges and charting opportunities of GTM in developing and emerging countries. Chapters are written in a concise and logical manner and are easy to read. This book should appeal to undergraduate, masters-level, and PhD students who want to broaden their understanding of GTM issues in such regions.

Collings, David G., Hugh Scullion, and Paula Caligiuri, eds. Global Talent Management . 2d ed. New York: Routledge, 2019.

An in-depth review of important theoretical and empirical developments in the field based on leading-edge research. Although this textbook can be of value to upper-level undergraduates, this book should appeal, in particular, to masters-level and PhD students as well as researchers new to the field.

Scullion, Hugh, and David G. Collings, eds. Global Talent Management . 1st ed. New York: Routledge, 2011.

This book draws on recent theoretical contributions in the area of GTM and presents an up-to-date and critical review of the key issues which multinational enterprises face. Beyond exploring some key overarching issues in GTM, the book discusses the key emerging issue around GTM in key economies such as China, India, the Middle East, and Eastern Europe.

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Essay on Talent Management

Related Papers

Mira Abou Khzam

This document is an overview of one of the strategies in human resource management which is “Talent Management”. The document include an introduction of talent management in HR practices, the talent management process, elements, challenges and approaches, the relation between TM and competitive advantage, ten steps to successfully implement TM, the theoretical model of talent pool and the recruitment process.

Dr. Mahan Poorhosseinzadeh

Asian Journal of Business and Management Sciences (AJBMS)Vol . 1 No. 4 Year 2011

Bidayatul Akmal Mustafa Kamil

This research was carried out using method of interview among selected human resource practitioners of six Malaysian companies. This research explores talent management practices particularly on the implementation and the effect of the practices on employee engagement and retention. It was found that talent management is considered as the strategy of organization to retain employees. The strategy involves the human resource activities such as recruitment, selection, training and development and performance management. The engagement and retention talented employees needed in order for an organization to success and improve performance. In highly competitive market, having the right employees is the way to ensure organizational succeed. The impact of this research will create an opportunity to develop talent management strategy. It is expected that the identification and development of talent management strategy would result in additional benefits for the organization and its employees.

Noelle Newhouse

editor of J E T I R Research journal

EMPLOYER BRANDING: A TOOL FOR TALENT ACQUISITION

Universal Journal of Management and Social Sciences

Hussin Hejase

Organizations, nowadays, are shifting from traditional human capital development strategies toward more systematic efforts so as to find, develop and retain the right talent that best meet the need of the concerned organization/ institute; thus, focusing the attention on talent management. Attaining such excellence involves the betterment of whoever is working for organizations not just the high-fliers. Talent Management philosophy involves making sure that every employee is provided with the guidance and support needed to achieve his/her full potentials. Because most organizations still lack a comprehensive talent management strategy, a better understanding of the term is needed to meet the demands of the contemporary knowledge-driven workplace. This paper is exploratory in nature and has used an online survey to assess Lebanese respondents’ knowledge and awareness of talent management. Descriptive analysis is used to analyze results. The research suggests that the main drawback observed in a sample of Lebanese companies is the lack of a comprehensive talent management strategy that does not clearly differentiate among human resources, human resource management and human resource development. That is, most companies are applying some components of Talent Management but not all together in an integrated manner. Several drawbacks are identified, namely, in “Total Talent Acquisition”, in “Employee Development”, in “Performance Management”, in “Governance”, and in “Succession Planning”.

Asian Business Review

This study aims at investigating the methods, importance, process, and present situation of managing talented employees in Corporations. The study revealed that having talented employees helps organizations to drive and be competitive but it is difficult to acquire such people. Thus, some innovative campaigns, for instance, global trainee and management cycle star programs have been created to motivate talented graduates to join the companies and to motivate existing talented employees to being more dedicated and engaged. In the recruitment of new employees, personality and interpersonal skills were more important than educational background because candidates were deemed to be proficient in specific areas, so, what a candidate must have is a personality matching the company’s culture especially the characteristic of working as a good team member. In this study, we suggested some important steps and methods that can be applied in the organizations which are totally running and managing by the HR Department. Moreover, these methods and steps can become successful by managing low rate of star turnover which is quite sensitive case now a day.

transcript Verlag eBooks

Jonathan Harth

Nepal development update

Sudyumna Dahal

http://documents.worldbank.org/curated/en/764611505401428300/Nepal-development-update-fiscal-architecture-for-federal-Nepal In this edition of the Update, we take a closer look at the main emerging issues and potential risks in the design of the fiscal architecture for the new federal Nepal. In general, issues regarding the transition to federalism can be grouped into three categories: the functions category (that is, which level is responsible for delivering which service), the finance category (that is, which level or levels collect revenue and raise debt), and the functionaries category (that is, how will the existing civil service be transformed). All the issues under these three categories need to be resolved effectively for government service delivery not to get disrupted. In sum, while the constitutional provisions and laws currently under consideration in the Parliament will create a mismatch between the levels that collect revenue and those that are responsible for service delivery, this does not have to be problematic if the system of intergovernmental transfers is designed properly.

European Heart Journal Supplements

Francesco Amico

A 72–year–old hypertensive, dyslipidemic and smoker (20 cig/day) gentleman was admitted to the emergency department for pulmonary edema. Past medical history included COPD, anterior MI treated with PCI and stenting of proximal LAD 5 years back, recent TIA. He was admitted to cardiac intensive care unit and treated with CPAP, IV furosemide and norepinephrine. Echocardiogram showed severe ventricular dysfunction (LVEF 20%) and severe functional mitral regurgitation; lab tests pointed out mild troponin elevation (50 ng/L) and high levels of BNP (1300 pg/mL). After stabilization, he underwent coronary angiography: in–stent CTO of LAD, critical stenosis of distal LM and ostio–proximal LCX (last remaining patent vessel, LRPV); hypoplastic RCA. At the end of angiography, new episode of pulmonary edema that required treatment with inotropes, CPAP and diuretics. Considering hemodynamic instability and high surgical risk (combined STS 37%), the Heart Team decided to proceed to PCI with mechan...

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Sustainable Talent Management Evaluation Essay

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Sustainability efforts form some of the significant strategies for enhancing the financial, environmental, and social performance of an organisation. Organisations cannot build sustainable brand portfolios without the aid of innovative and talented workforce (Huselid & Becker, 2011, p.422). McDonnell, Lamare, Gunnigle, and Lavelle (2010) support this argument by further asserting, “Talent management is arguably the single most important HR activity in a sustainable organisation” (p.150).

This paper follows the strategy for talent management described in assignment 3 to analyse the key concepts related to talent pools and talent review processes followed by the development of appropriate talent management objectives to measure functional expertise. It then progresses to measure the vital aspects of international talent management as they stand out at TriStar Logistics before recommending a process that optimises a sustainable talent management process.

Performance Management Process employed to measure Employees’ Talent

Assignment 3 established the need to facilitate internal promotions as part of succession plans driven by the existing talent potential within TriStar Logistics. Diverse sections of the organisation need diverse talents.

Since the goal of TriStar Logistics is to become one of the leading employing organisations, it implies that people selected and recruited internally within the organisation must possess outstanding credentials that ensure optimal performance at the positions they are appointed or promoted to serve. Hence, some performance management processes for measuring talents of employees are important.

An effective performance process for measuring the talent of employees at TriStar Logistics starts with planning. Planning is necessary in helping to determine various strategies together with goals for different work units especially when measuring talent potential for employees (Levenson, 2011, p.35).

Once goals and strategies are established, search is conducted to determine the employees who fit in these units to enhance the realisation of the goals of various units. This goal is accomplished through alignment of unit goals with employees’ capabilities (McCauley & Wakefield, 2006, p.40). Performance levels in various unit tasks are then conducted to determine the fits between employees and work unit performance expectations.

After successful completion of the planning phase, the next step for implementation of a performance management process for measuring employees’ talents is assessment. Assessment requires performance dialogue accompanied by continuous garnering of feedback from employees to determine the degree of achievement of work unit anticipations.

Opposed to the traditional approaches of measuring the performance of employees, which are claimed as ineffective by Lewis and Heckman (2006) and Levenson (2011), performance dialogue at TriStar Logistics can yield success since employees are provided with adequate information on what they are expected to do within some time limits.

The feedback, which is used to make decisions on the appropriateness of a given employee to fit in a position, is based on the ability of the employee to achieve these work unit requirements. This capacity reflects the talent potential of employees.

This approach of measuring the talent of employees is based on the realisation of specific preset expectations of the demands a given job without any specified criteria for accomplishing them. This means that it is upon the employees to look for innovative ways of executing their duties to achieve the expected results within minimal time and/or with optimal resource utilisation.

Key Concepts related to Talent Pools and the Talent Review Process

At TriStar Logistics, several concepts have been articulated to the talents pools and talent review processes. The first concept is talent identification. This aspect is done to assess the existing organisational employees’ potential so that their capabilities can be developed to yield organisational competitiveness. For TriStar Logistics, every manager assesses the capacity of an employee to perform high-level tasks relative to his or her current grades.

This assessment is based on the demonstrated individual knowledge, skills, and creativity in the execution of leadership roles. In case the results of these assessments show that those employees are capable of performing tasks that are done by people in two or more higher grades, they are considered highly talented.

Readiness assessment is an important aspect for talent assessment. Persons identified as highly talented must be prepared to succeed in various incumbents (Lewis, & Heckman, 2006, p.151). This assessment is important for various high-ranking managers while preparing their annual talent review plans that reflect leadership gaps and other managerial metrics.

The second concept is feeder role identification. At TriStar Logistics, building sustainable and a robust leadership pipeline requires the existence of various positions to be filled by persons who are identified as talented for similar positions.

It is the obligation of talent development managers to identify the various positions existing below the highest leadership teams and/or label them as feeder roles. These roles need to have broad opportunities to facilitate growth of experiences and talents showcased by employees as they progress from fundamental to senior positions. A follow-up of feeder roles is crucial for performance assessment reason and capacity re-examination.

Talent Management Objectives to measure Functional Expertise

Talent management in TriStar Logistics is done to ensure that the expertise of employees improves over time as they gain experience while working in the organisation. This outcome is achieved by developing accurate staffing models followed by the identification of vital skills while acknowledging the role of proper harnessing of the competences of employees in enhancing organisational success.

This strategy helps to improve the functional expertise of the organisation by aiding it to arrive at decisions, which are informed by the existing talent potentials (McCauley & Wakefield, 2006, p.41). TriStar Logistics is also able to react more effectively to situations emerging from changing the operational environment that requires the improvement of an organisation in terms of innovation and creativity.

Successful organisations object to improve the functional areas of their expertise through identification of areas of their strength with the help of competences, which are required to execute specific tasks. This outcome is measured through employees’ assessments together with performance ratings (Lewis, & Heckman, 2006, p.152).

Hence, within TriStar Logistics, leaders in talent management need to deploy talent management objectives in measuring functional expertise areas that are driven by objective data. This helps to engage employees in talent development conversations that are tied within the facets of attaining the anticipated functional outcomes of an organisation.

Such conservation strategies are pivotal in ensuring that organisations are capable of identifying accurately the required talents that should be obtained from departments or business functional units. Conversation also aids in the identification of skills, which are required to support future strategies of TriStar Logistics.

Vital Aspects of Global Talent Management at TriStar Logistics

TriStar Logistics Company has several talent management approaches, which are consistent with the global approaches to talent management. In TriStar Logistics, capturing the top talent is not the only concern. The organisation focuses on the development of talents that are already in existence especially in the events of hard economic times.

This strategy is consistent with the global approaches to talent management, which focus on making organisations people-centric (McDonnell, Lamare, Gunnigle & Lavelle, 2010, p.153). This means that people feel they are part of the organisational growth when they are given an opportunity to grow their talent potentials.

TriStar Logistics creates internal talent development programs that are aligned to the interests of employees. By creating a job position filled internally, it implies that on global platforms the organisation has the capacity to retain the top talent, which is critical in enhancing competitive advantage (McCauley & Wakefield, 2006, p.39).

The value of employees who are given an opportunity to identify their own specific competency development areas is then merged with the career paths existing internally within TriStar Logistics. This value is also given a major priority.

Recommendation for a Process that optimises a Sustainable Talent Management Process

Sustainability in the talent management process of an organisation is an important aspect of the organisation that plans to base its long-term success on people it employs. TriStar Logistics is one of such organisations. It is recommended for TriStar Logistics to increase its strategic efforts on self-engagement of employees and/or add emphasis on the development of people together with increasing their performance in their business unit tasks.

For optimisation of a sustainable talent management process, it is important for talent to be measured, with its assessment criteria remaining fair, transparent, and involving all staff members. It should be flexible and efficient in terms of talent identification and development.

Such a process also needs to proactively support all on-going initiatives for succession management, enumerate various organisational goals, and/or measure employees’ performance in the context of realisation of such goals. The process also needs to provide ample room for supervisors of talent development to give concise and reliable feedback on the extent of employees’ talent development.

For TriStar Logistics, the process also needs to take into consideration past performance of employees while also paying attention to the anticipated opportunities for talent growth in relation to work units, individual, and TriStar Logistics’ goals and objectives.

Reference List

Huselid, M., & Becker, E. (2011). Bridging Micro and Macro Domains: Workforce Differentiation and Strategic Human Resource Management. Journal of Management, 37 (2), 421-428.

Levenson, A. (2011). Using Targeted Analytics to Improve Talent Decisions. People & Strategy, 34 (2), 34-43.

Lewis, R., & Heckman, J. (2006). Talent management: A critical review. Human Resource Management Review, 16 (2), 139-151.

McCauley, C., & Wakefield, M. (2006). Talent Management in the 21st Century: Help Your Company Find, Develop, and Keep its Strongest Workers. The Journal for Quality and Participation, 29 (4), 39-47.

McDonnell, A., Lamare, R., Gunnigle, P., & Lavelle, J. (2010). Developing tomorrow’s leaders—Evidence of global talent management in multinational enterprises. Journal of World Business, 45 (2), 150-160.

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• Organizations as Machines and Systems of Political Activity
• Sustainability Program Implementation
• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2019, June 13). Sustainable Talent Management. https://ivypanda.com/essays/sustainable-talent-management/

"Sustainable Talent Management." IvyPanda , 13 June 2019, ivypanda.com/essays/sustainable-talent-management/.

IvyPanda . (2019) 'Sustainable Talent Management'. 13 June.

IvyPanda . 2019. "Sustainable Talent Management." June 13, 2019. https://ivypanda.com/essays/sustainable-talent-management/.

1. IvyPanda . "Sustainable Talent Management." June 13, 2019. https://ivypanda.com/essays/sustainable-talent-management/.

Bibliography

IvyPanda . "Sustainable Talent Management." June 13, 2019. https://ivypanda.com/essays/sustainable-talent-management/.