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