4 steps of talent management
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Transcript of 4 steps of talent management
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Lairemlakpam Winton
Nehal Mittal
Neha Gupta
Nisha Jain
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Talent Managementy Talent management refers to the skills of attracting highly skilled
workers, of integrating new workers, and developing and retaining
current workers to meet current and future business objectives.
y The term "talent management" means different things to different
organizations.To some it is about the management of high-worth
individuals or "the talented" whilst to others it is about how talent is
managed generally - i.e. on the assumption that all people have talent
which should be identified and liberated
y Talent management systems, (TMS) Talent Management, oftenreferred as Human Capital Management, is the process ofrecruiting, managing, assessing, developing and maintaining anorganizations most important resourceits people.
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Talent-6 Steps to success
o Talent management is everyones job in your organisation.y Talent is the single most important force creating strategic
value for your organisation.
y Ask yourself: why would a smart energetic and ambitious
individual want to come and work for you?y Talent is the engine of the modern organisation and
engagement is the mystery ingredient that can transform theengines output.
y A human capital strategy is essential to support your
organisations strategic goals.
y A talent powered organisation is an organisation thatinvests in building distinctive capabilities and in managingtalent to produce extraordinary results
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FOUR STEPS OF CREATING A
TALENT MANAGEMENT SYSTEMySTEP 1:Develop assessment tools and
scales
ySTEP 2:Develop training anddevelopment appliction tools.
ySTEP 3:Evaluate each employee usingassessment tools.
ySTEP 4:Prepare action reports.
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STEP1: Develop Assessment
tools and Scaley Develop competency definitions and
measurement scales:- Core competency is thebehavioral/skill expectation that is critical to the
success of each employee and to the entireorganization.
Core competencies are those capabilities that are
critical to a business achieving competitiveadvantage.
Different companies can have different corecompetencies like customer oriented (service
industry)creativity/innovation,technical/expertise.
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.
Examples of Company:
1) APPLE - hires people with an intriguingbackground and extraordinary tastes
2) Accenture : Believes that new technologiesare transforming the nature of work, theskills demanded, the manner in whichwork is sourced globally, and the ways inwhich people collaborate.
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.
y Establish a performance appraisal and measurementscale:- Performance appraisal is a measure of actual results
achieved within those areas where the employee is heldaccountable. It is then measured on expectation scale.
y Establish a potential forecast and measurementscale:- Potential forecast is the measurement of how manylevels an employee can reach within the organization basedon his past/current performance appraisals, training anddevelopment needs, career preference, and actualcompetency levels.
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STEP 2:DEVELOP TRAINING AND
DEVELOPMENTy For each selected competency there is set of appropriate
training and development.
y Helps in eliminating the gap between an employeesdemonstrated proficiency in a competency and an
organisation.y EXAMPLE-COMMUNICATION
y To communicate well both verbally and in writing,shareinformation and ideas,listen carefully and understanddifficultview points.
COACHING GUIDE:- Document in writing individual achievements and
shortcomings.
Follow up on ideas and encourage idea generation.
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y Use appropriate nonverbal communication.
y Ask clear questions using oral or other methods and
attend to communication receive from others.TRAINING:-
Better business writing.
Communicating non-defensively. Giving and receiving feedback.
Interpersonal communication skills.
Example of some companies:
ASEA BROWN BOVARIBRITISH TELECOM UNIVERSITY
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STEP 3:EVALUATIONASSESS EACH EMPLOYEES
y CORE COMPETENCIES
y POTERNTIAL FORCASTSTEPS
Step 1 - Preparing a Competency Profile for theEmployees Responsibilities
Step 2 - Assessing Competencies and IdentifyingLearning Gaps
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Step 3 - Identifying Learning Needs andDevelopingan Individual Learning Plan
The Individual Learning Plan (ILP)Step 4 - Evaluating Competency Progress
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STEP:4 Prepare Action Plansy R
epresentative approachesBench Strength Summary
Individual Competency Assessment
Bench Strength Summary Cultivation of super keepers
Backups for key positions
Allocation of resources based on employee contribution
This captures the key elements for aligning people with organizational needs.
VOID: positions with no replacements
Select from Talent pool
Add to talent pool and accelerate development Identify backups
Begin external recruitments
SURPLUSES: Positions with more than one replacement
Move high potentials quickly
Job rotation inside unit
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BLOCKING: Non promotable managers with promotable subordinates
Move incumbent or backup within one year
Job rotation inside unit
Special projectsPERFORMANCE PROBLEMS: Employees not meeting expectations
One more accomplishment review
Terminate(consult HRdepartment)
SUPERKEEPER: Very accelerated career paths and compensation growth, high
development investment.Formal mentor and sponsor arrangement
Individual assessment forms
Provides greater detail about each individual
Allows supervisors to target best practices coaching, training , anddevelopment to specific competency deficiency
By customizing and using the tools, an organization can take a disciplined andproactive approach to talent management.