Assignment 3 Talent Management Strategy

Unformatted text preview: Assignment 5: Sustainable Talent Management Assignment 5: Sustainable Talent Management DJhonna M. Jones Dr. Daniel C. Frost Talent Management 15 March 2015 Abstract: 1 Sustainable Talent Management A determination on which performance management process will be employed to measure employee talent will be used within this paper. We will analyze the key concepts related to the talent pools and the talent review process. Development of appropriate talent management objectives will be made to measure functional expertise. An assessment of the key elements of global talent management as they apply to the subject organization. A recommendation of a process that optimizes a sustainable talent management process. 2 Sustainable Talent Management 3 For human resources, talent management remains one of the most compelling and demanding concerns for business leaders around the world. Some issues include a rapidly ageing demographic, and a very real war for top talent is something that is very important to organizations internationally (Lockwood, 2006). The key is finding the best way to approach these issues and implement some of the best solutions in a highly successful talent management strategy. Determine which performance management process you will employ to measure employee talent. Performance management can often be over simplified as many take a very simplistic approach. The overall assumption is that it is only about measures, targets, and KPIs (Lockwood, 2006). Or even easier, a very simply closed-loop, feedback model where the employee works and the management gives an evaluation of the work done to the employee where the employee in turn improves based on the evaluation. This is far too simplistic and may be the cause of many performance management issues in some organizations. An organization is too complex for simply using measures and targets. If measures and targets where all that where needed then each organization could be run by a computer or AI system rather than human beings. However, companies require intelligent, experienced humans that are capable of using sensible judgment in order to make sound decisions. Organizations and the people within them are a great deal more complex to understand and manage than calculations. The most common performance management process used to measure employee talent would be the performance appraisal system. The performance appraisal is a method of Sustainable Talent Management 4 measuring employee achievements and behaviors as they relate to the organization policy, culture and position of the employee. During the appraisal, new goals and objectives are then set for the employee to meet. Analyze the key concepts related to the talent pools and the talent review process. A human resource department has multiple responsibilities. HR should not only be able to solve specific human capital issues but also be able to help ensure the success of an organization in facing potential hardships to come. Among the potential challenges a firm may face, the demand for qualified talented staff is a real issue. Building a talent pool and talent management internationally has been identified, researchers have identified top talented people as one of the world’s most valuable products (Beheshtifar, 2013). For a number of firms the talent pool has the appearance of becoming greatly depleted. For unknown reasons a large quantity of talent is leaving or have already left, causing a great deal of difficulty to firms in being able to achieve both short and long term goals (Beheshtifar, 2013). A talent pool is a group of individuals who are identified as ready for responsibilities. Those individuals who are placed in a talent pool often show up with a number of different abilities and attributes making them suitable to a number of different positions within a firm (Beheshtifar, 2013). One type of approach of for management to evaluate and select individuals to be added to the given talent pool for a firm (Beheshtifar, 2013). For another way, the use of an objective assessment, for example a multilateral evaluation, used to identify personnel who are capable of handling future responsibilities as assigned. An organizational talent review is becoming one of the most popular management practices in recent years. The purposes of the review process include attaining a broad view of the firm’s leadership to meet any current and future needs and its strategy (HANSON, 2013). Sustainable Talent Management 5 The review is also used in gauging the overall health of the organizations leadership talent pool. A talent review can also be used to take inventory of the talent within a firm on an individual basis in order to identify and fill any apparent gaps in leadership need (HANSON, 2013). Develop appropriate talent management objectives to measure functional expertise. An effective method of developing the objectives to measure functional expertise would be to start from the end results wished and work back. A talent strategy must always align closely with the firm’s business strategy, in this manner the business goals and strategies of the firm will drive and dictate the quality and quantity of talent that is needed to successfully operate your business. The most successful organizations often apply the idea that there is a connection between succession management strategies and organization strategies (Silzer, 2010). These organizations operate under the belief that business success often hinges on having the right talent in the right place at the right time. Most companies that are performing successfully are actively addressing their talent needs (Silzer, 2010). The ideal situation is for talent managers to accept portions of the process and service partners, guides and advisory individuals gather when it is time to assess talent. The most successful plans for talent management are planned and operated by those HR departments that are supported by their senior management enthusiastically, with the resources, budget, and communication needed (Silzer, 2010). In some cases the best practice is for the HR director or head to become well known or to have continuous communication upper management. Ideally they would be in communication and involved in both the business strategy as well as involving the upper management in the talent management strategy. It assists in making the functional expertise focus more identifiable Sustainable Talent Management 6 if support is gathered and maintained with upper management. The idea is to ensure support in order to ensure success Assess the key elements of global talent management as they apply to your organization. As with all firms there are key elements that resound with all global talent management strategies. These elements apply to global talent management in almost every industry in some form or another. These key elements or principles are, to align strategies between the talent management strategy and the business strategy of the firm, ensure that there is internal consistency throughout the organization, ingrained culture, and management involvement, these elements run standard in every firm (Stahl, 2011). As mentioned earlier in the text of this paper, ensuring that there is a complete alignment of business strategy, talent management strategy, culture, and policies of a firm. In this manner many firms have found they are able to find strategic flexibility, a highly important commodity. An organization should be able to adapt change and overcome different business and international conditions in order to continue functioning successfully (Stahl, 2011). Internal consistency on policy and the handling of the talent management strategy is dependent on communication within the firm. To implement practices in segregation within a firm is counter intuitive to keep policies that may be beneficial to the firm in one department when it could benefit the company as a whole (Stahl, 2011). This is where consistency is crucial to a strategy being successful. The other key elements run standard to forming a solid yet flexible talent management strategy. These types of elements seem to be common sense to business however, there had to Sustainable Talent Management have been an instance that they where needed in order for someone to feel the need to pin point them as key elements. Recommend a process that optimizes a sustainable talent management process. Optimization of a sustainable talent management process is a culmination of more than just a flip of a page and the strategy is enacted. One of the most valuable processes to use is to keep an up to date talent review process. This process is necessary for competent succession, firms are encouraged to integrate three different key attributes continuously to encourage sustainment. These key attributes are business strategy alignment, process integrity, and talent review attendance. Though the business strategy alignment has been explained in detail earlier, the process integrity and talent review attendance have not been elaborated on (Silzer, 2010). The process integrity refers to the consistency and quality of the process throughout the firm and the resulting reliability of the talent data from this consistency (Silzer, 2010). A combination of both high performance and integrity is expected to be part of the foundation of a successful firm (Silzer, 2010). Consistency in identification of high potential leaders can leave high quality reliable talent data. The Talent review attendance is where the critical individuals to the talent review attend. It is simple yet complicated process to enforce (Silzer, 2010). There is a need of HR and, or, leadership consultant, and the head of your business components in order to review and discuss the effects and benefits of the talent management strategy to date, as well as any necessary changes that may or may not need to be made in order to better align the talent and business to the goals of the company for success of the firm (Silzer, 2010). The review enables all of 7 Sustainable Talent Management 8 management and HR to collaborate on any changes or updates that may be needed for the management strategy. Conclusion: Sustainment of a talent management strategy into the future is much like taking the initial process and re-evaluating it on a periodic basis taking special care to evaluate the talent individually for the personnel development and talent pools needed for the overall success of the firm. These different steps can be re done over and over on a continuous basis in order to continually improve the talent management strategy and take full advantage of its flexibility. Sustainable Talent Management 9 References Beheshtifar, M. (2013). Talent Pool: A Main Factor to Success . INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS, 307-313. HANSON, E. (2013). Talent Reviews and High Potential Identification. New York: DDI World. Lockwood, N. R. (2006). Talent Management: Driver for Organizational Success. Alexandria: SHRM research Quarterly. Silzer, D. (2010). Strategy-Driven Talent Management. San Francisco: John Wiley and Sons. Stahl, G. K. (2011, 12 21). Six Principles of Effective Global Talent Management. MIT Sloan Management Review, p. N/A. ...
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SOUTHERN COMPANY CASE STUDY2Southern Company Case StudyThe Southern Company an electric utility company, which was run by the CEO Tom Fanning, was a great company. They own the electric companies in four different states. They are expanding and very competitive with the wireless and fiber optic communications. Their brands are considered excellent when dealing with customers. They are very reliable and their prices are great. In the Southern Company there was approximately 26,000 people who are Their strategy was great they promoted from within for leadership positions rather than hiring externally. After realizing in the end, that the idea of hiring internally had its potential risks and the successor would eventually leave by retiring. There have to be another plan in motion, because they wanted to make sure the company would still be productive and successful.Most of what they were planning did not place enough emphasis on the talent pools, only on the replacement.Evaluate the effectiveness of the roles that the strategic leaders played in the formation ofthe performance management strategyWhen looking at the effectiveness of the roles that the strategic leaders played in the information of the performance management strategy they did take steps to make their leadershipbetter. They set their focus on making and building a strong leadership. They looked at the different leadership style in the book labeled “Leadership Pipeline,” and adapted their style. They knew that when looking at the way leaders perform it begins with how they lead. They make sure the managers go through what is necessary to enhance their growth. The Southern Company builds their framework of leadership by looking at the different ways within the company. They also had another great effectiveness by allowing Stephen Drotterone of the great authors of “The Leadership Pipeline,” pick out different managers and execute and ask the questions pertaining to their job and what they thought was needed to produce great

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