4 steps of talent management

8/7/2019 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.

4 steps of talent management

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