Talent Management and HRM: Its role in Succession planning,

Recruitment and Leadership.

Talent Management (TM) is the art of hiring, grooming, sustaining and developing productive
human capital. The idea is not limited to hire right person for right job but also include
continuous development and nourishment of employee’s silent and secret traits to make them
more productive for the organization. Although hiring the best candidate for the job is a great
challenge for organizations today but the much bigger issue is how to retain and secure the
talented human capital. Another issue is how to align this talent as according to the
organizational goals so that it becomes productive for organization and collaborate with
company vision.

In today competitive environment every organization is in a dire need to hire best talent to carry
on meet the pace of competition. In HRM talent management is the key contributor that fastens
an organization and excels it to higher levels. So you can say that talent management is a
continuous process of grabbing best talent thorough out whole HRM process.

TM role in Succession Planning

Organisations that don't take steps to plan for future talent needs at all levels of organization will
face certain hurdles, and even disasters, when key employees leave the firm. Talent Management
and Succession Planning is the process of managing employees who possess the best talent that
enable them to fill top leadership positions within organization in near future.

The procedure consist of identification, management, development and retention of individuals

that would guarantee success for
the business. Succession Planning
helps to fill the critical roles within
the company in future. Good
Talent Management program helps
to identify the high potential
leadership talent and provide them
developmental
opportunities. Organizations offer
time to time developmental
opportunities to fill the talent gap
in case of retirement or unusual
resign of an employee.
Talent Management and Recruitment

Recruitment processes in most organizations use a human pool approach: organizations are
interested in hiring best employee so that they locate them on right places to become
competitive. The companies can use variety of mediums to recruit talent like, direct applications
via the Internet, on-campus recruitment fairs, and summer internship programs. Most companies
build close ties with leading universities to attract top talent. Prime desire of companies is to
recruit best people which create intense competition for talent in many industries. Traditionally
companies just focus on job-related skills and experience for recruitment but now some
companies broaden their definition of “the right people in the right place” by including cultural
fit as a key selection criterion. For this purpose companies analyze applicant’s personalities and
values to determine whether they will match the corporate culture as in recent scenario formal
qualifications may not be the best predictors of performance and retention and those skills are
easier to teach or change than personality traits, attitudes, and values.

Let’s discuss the case of well renowned IKEA model its hiring process based attributes such as
on moral principles and how easily an employee adopt their culture; the questionnaire designed
for hiring approach mainly focal the aspects of ethics and personal beliefs of an employee rather
than his/her abilities, past experience academic excellence. The ideas of personal attributes
govern the whole process of hiring that start from screening till end on continuous development
and training. Same procedure followed when IKEA done internal hiring to fill leadership
positions within organization.

Talent Management and Leadership

Organizations introduce strategies to explore most capable person based on leadership skills and
with the help of certified assessment tools. Organizations try to explore best talent with the help
of many parameters like 360-dgree reviews, performance check, data provided by assessment
centers or by using aptitude tests. Leadership assessment process usually involves evaluating
candidates on a competency matrix; the most commonly used matrix is a performance–potential
matrix. The tool is also used as a basic framework for leadership advancement.

Now consider the case of another business giant known as Novartis. Organization use
performance potential matrix as a tool to build coherence between basic values and management
performance. Management performance is not only assessed with organizational goals but also
their ability to adapt to Novartis cultural that include attributes like care, honesty and freedom.
It’s a common practice to build a talent poll and use it further for recruitment and succession
process. Most of the organizations design training, counseling and job rotation opportunities for
their best talented employees to further polish their skills.