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Talent Management Involves Individual and Organizational Development

Talent Management Involves Individual and Organizational Development

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Published by LAksh MAdaan

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Published by: LAksh MAdaan on Feb 18, 2010
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Talent management involves individual and organizational development inresponse to a changing and complex operating environment. It includes thecreation and maintenance of a supportive, people oriented organization culture.
Talent management refers to the process of developing and integratingnew workers, developing and retaining current workers, and attractinghighlyskilled workersto work for a company. The process of attractingand retaining profitable employees, as it is increasingly more competitivebetween firms and of strategic importance, has come to be known as "thewar for talent."
Talent management is a process that emerged in the 1990s and continues to be adopted, asmore companies come to realize that their employees’ talents and skills drive their businesssuccess. Companies that have put into practice talent management have done so to solve anemployee retentionproblem. The issue with many companies today is that theirorganizations put tremendous effort into attracting employees to their company, but spendlittle time into retaining and developing talent. A talent management system must beworked into the business strategy and implemented in daily processes throughout thecompany as a whole. It cannot be left solely to the human resources department to attractand retain employees, but rather must be practiced at all levels of the organization. Thebusiness strategy must include responsibilities for line managers to develop the skills of their immediate subordinates. Divisions within the company should be openly sharinginformation with other departments in order for employees to gain knowledge of theoverall organizational objective. Companies that focus on developing their talent integrateplans and processes to track and manage their employee talent, including the following:
Sourcing, attracting and recruiting qualified candidates with competitivebackgrounds
Managing and defining competitive salaries
Retention programs
Promotionand transitioning
Importance of talent management
Likehuman capital, talent management is gaining increased attention. Talentmanagement (TM) brings together a number of important human resources (HR)and management initiatives.Organizations that formally decide to "manage their talent" undertake a strategicanalysis of their current HR processes. This is to ensure that a co-ordinated,performance oriented approach is adopted.Quite often, organisations adopting a TM approach will focus on co-ordinating andintegrating:
Recruitment - ensuring the right people are attracted to the organisation.
Retention - developing and implementing practices that reward and supportemployees.
Employee development - ensuring continuous informal and formal learningand development.
Leadership and "high potential employee" development - specificdevelopment programs for existing and future leaders.
Performance management - specific processes that nurture and supportperformance, including feedback/measurement.
Workforce planning - planning for business and general changes, includingthe older workforce and current/future skills shortages.
Culture - development of a positive, progressive and high performance "wayof operating".An important step is to identify the staff or employees (people and positions)that are critical to the organisation. They do not necessarily have to be seniorstaff members. Many organisations lost a lot of "organisational knowledge" inthe downsizing exercises of a few years ago. The impact of the loss was notimmediately apparent. However, it did not take long for many companies torealise their mistake when they did not have people with the knowledge andskills to either anticipate or solve problems that arose.The current discussions about skill shortages and the ageing population arealso helping organisations to focus on the talent management issue. It may notbe possible to simply go out and recruit new people to meet operational needs.Many leading companies have decided to develop their own people, rather thantrying to hire fully skilled workers.In summary, every organisation should be implementing talent managementprinciples and approaches.
Talent Management: A Critical Way To Integrate& Embed Diversity
IntroductionWhat is Diversity today? Is it a leadership mandate? Is it marketing strategy? Is it a headcount issue?More than likely, it is still a program resident within HR -- an initiative to build organizationalculture but also to fend off potential legal problems and ensure compliance to already legislatedrequirements. Has Diversity in corporate American made so little progress?Recent headlines tell us that many of the same Diversity problems still exist - companies aremissing opportunities to move people of color into top-level positions; organizations are findingthat while they can recruit women, they cannot retain them; companies do not yet have customerservice reps who can speak with and gain the trust of their Hispanic and Asian customers; andorganizations are not finding ways to combine the skills/talents of their maturing workers withthose of their Gen X and Gen Y populations.We've talked for years about moving Diversity onto the strategic agenda, and every year there ismore data available to support the tremendous impact that diversity can have on the bottom line.Just this January (2004), a Catalyst study showed that companies with more women managersachieved the greatest financial performance, providing the highest value to their shareholders.And there are many other studies with equally compelling information now available.It's not the business case that needs to be proven. It's the HR approaches that need to bereframed. That's where Talent Management, a relatively new and extremely strategic HR approach, can help. Talent Management, as shown in a recent Conference Board study, holds thekey to integrated thinking. Organizations that utilize Talent Management can make tremendousheadway in achieving the ultimate Diversity objective: embedding Diversity into the way theorganization behaves.2. Background on Talent Management
Talent Management is about behavior - the thoughts and actions that, consistently, over time,become organizational culture. Talent Management is more than something "to do," it is something"to be," a way of working and achieving both near and long-term success.According to Integrated and Integrative Talent Management: A Strategic HR Framework (TheConference Board, 2004), talent management is an evolving and complex field. It is a holisticapproach, comprised of the inter-relationships or, as the TCB study shows, the integratedframework, created from eight categories of initiatives. These are:>> Recruitment>> Retention>> Professional Development>> Leadership/High Potential Development>> Performance Management>> Feedback/Measurement>> Workforce Planning>> CultureIt is in the last area - Culture - where initiatives relative to Diversity lie, along with corporatevalues, flexible workplace and internal communications. However, it's not the particular initiativesthat are of importance; it's how they fit together to create a whole that is greater than the sum of its parts.3. Defining Talent and Talent MindsetLet's start with the basics -- it is critical that we have a full understanding of Talent -- and TalentMindset. Some organizations believe they work in talent management, but they really are focusingon the top of the house - leadership and high potential employees.On the other hand, those organizations that have rigorous Talent Management approaches apply amuch richer definition of Talent: "Individuals who have the capability to make a significantdifference to the current and future performance of the company." This definition takes both anear and long-term view. It is not title or position-related. In fact, it has no constraints at all.A Talent Mindset is the belief that talent is critical to the organization, now and in the future. It isthe belief that talent differentiates organizational culture and breeds competitive advantage, withbenefits for both the individual and for the organization. Furthermore, the Talent Mindset is not anHR way of thinking. It is embedded in the entire organization - led by the CEO, modeled bymanagement, supported by a range of initiatives developed by HR and implemented by HR and linemanagers. Having a Talent Mindset = being a Diverse organization.Therefore, those organizations that apply the rich definition of Talent and that have what wascalled a "Talent Mindset" are, by their very nature, embedding Diversity into their organizations."Talent" is race, gender, age (etc.) independent. "Talent" can come from anywhere, is deemedimportant based on its relation to the organizational strategic objectives, and can be developed.The link to Diversity is compelling. It is not "who you are" but "what you offer" (or can offer), thatis important. It is also the belief that you have the potential to offer more -- and the organizationhas the commitment to develop that potential with you.This is not to say that Talent Management is a naïve way of thinking, unaware of differences inpeople. Just the opposite. It is so integrative a way of thinking that it starts by valuing everyoneand then creates highly integrated systems and processes that break down the barriers betweenpeople and opportunities - because it also acknowledges that people are different and barriers doexist.4. What is Talent Management?In order to satisfy different learning styles and client needs, The Organization also hosts liveinstructor-led sessions on its virtual classroom. These task-focused sessions are made available to

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