Lecture 3 – Introduction to

Talent management
 Who are talents?

• Entire workforce as “talent”

• A specific group of employees who are regarded as being both
high potentials (HiPos) and moderate to high performers.
 What is talent management?
 Talent management is the full scope of HR processes to attract, develop, motivate and retain high-
performing employees.
 This definition has three components:
• The full scope of HR processes: Talent management is about a set of HR processes that are
integrated with each other.
• Attract, develop, motivate and retain: Talent management touches on all key HR areas, from hiring
to employee onboarding and from performance management to retention.
• High-performing employees: The purpose of talent management is to increase performance. Talent
management is aimed at motivating, engaging, and retaining employees to make them perform
better.
=> Companies can build a sustainable competitive advantage and outperform their competition
through an integrated system of talent management practices that are hard to copy and/or imitate.
Talent management process
 Talent management process

1. Planning: the human capital requirement, formulating job descriptions for the necessary
key roles to help guide sourcing and selection and developing a workforce plan for
recruitment initiatives => Succession planning
2. Attracting: a healthy flow of applicants (talent pools)
• External sources include job portals, social network, and referrals.
• Employer brand
3. Selecting:
• Tests and checks to find the right match for the job – the ideal person-organization fit.
• E.g: Written tests, interviews, group discussions and psychometric testing along with an
in-depth analysis of all available information on the candidate on public access
 Talent management process
4. Developing:
• Developing employees to help them grow with the organization and training them for the
expertise needed to contribute to business success also builds loyalty and improves employee
engagement.
• Effective onboarding program, opportunities for enhancing the skills, aptitude and proficiency,
counseling, coaching, mentoring and job-rotation schemes.
5. Retaining:
• Promotions and increments, offering opportunities for growth, encouraging involvement in
special projects and decision-making, training for more evolved roles and rewards and
recognition programs.
6. Transitioning:
• Providing retirement benefits, conducting exit interviews and effective succession planning
 Talent management model

• Acquire – Employer branding, recruitment, onboarding

• Assess – Talent analytics, succession planning and assessments
• Develop – Workforce planning, culture at work, engagement and retention
practices
• Deploy – Goal alignment, career-path planning, learning and development,
and performance management
 Drivers for TM
cho

Nn kt tri thc: ào thi nhng ngi k còn tim nng

Changing nature of
careers – more
movement
(‘boundaryless’
career)
9
 The talent pool

Top talent

Key talent

2nd important talent

Reserve talent
 Who is talent?

Exclusive Focuses on the jobs

Most common most critical for
method. The few business success and
people who invest more heavily in
demonstrate superior Key, those. Might be
performance. Their Key roles/
selected senior or might be
loss would impede positions highly specialist.
organisational people
performance
People Position

Everyone in the
Networks Teams, leadership
organisation is Majority
‘talent’ – all have / social and networks are
of staff important here.
potential. All are capital Talent should be
therefore managed
for high developed from
performance. within. Less about
individuals stars.
Inclusive 11
 Talent Management

• Strategic talent management: Identifying the most

important jobs in a company that provide a long-term
competitive advantage
– Create HR policies to developing employees so that they can
effectively work in these jobs
 Maximizing Rewards of
Talent Management

• Development of current employees and hiring outside

talent
• Creation of talent pools and broad competencies in
employees that reduce uncertainty in the need for
personnel
 Maximizing Rewards of
Talent Management
• Utilization of more short-term talent forecasts that are
likely more reliable
• Establishing a balance of ownership over career
development between companies and workers
 Talent Management in
Perspective
• Choices for dealing with talent needs are to:
– Emphasize stability in employment and develop talent internally
– Develop agility as an organization and buy talent as needed
– Use combination of the first two choices
Attracting
Retaining
Employer
branding, Developing
Engagement,
recruitment reward, Transitioning
and selection Leadership
empowerment, development,
managing the Offering
investing in opportunities
psychological individual
contract for career
development progression
(promotion,
succession
planning)

16
Talent Management Process
 Scope of Talent
Management
• Target jobs - Identify the right jobs that will be the focus of
talent management efforts
• High-potential individuals (High-pos): Show high
promise for advancement in the organization
– Approaches to keep high-pos engaged
• Recognize their talents
• Include them in the development process
 Scope of Talent
Management
• Provide substantive and flexible opportunities to gain visibility in the
firm
• Provide good mentors
• Competency models - Show the KSAs for various jobs
– Libraries of competency models maintained by some
companies
• Ensure efficient talent planning
 Scope of Talent
Management
• Talent pools - Avoid creation of a narrow specialized job,
but create a pool of talented people
• Career tracks - Series of steps that an individual follows to
become ready to scale-up
• Assessment - Predict a person’s potential for a job
 Scope of Talent
Management
• Development risk sharing - Companies encourage
talented employees to volunteer for development training
– Reduces the risk of developing talent of an employee who
would choose to leave the organization with the skills gained
 Succession Planning

• Preparing for the inevitable movements of personnel that

creates holes in the hierarchy that need to be filled by
other qualified individuals
– Should include a well-designed development system for
employees to reach its full potential
– Right people should be placed in the right positions to obtain
organizational goals
Succession Planning Process
 Succession Planning
Process
• Results in:
– Identification of potential emergency replacements for critical
positions
– Other successors who will be ready with some additional
development
Role of HR in Succession
Planning
 Succession Planning
Process
• Global succession planning
– Growth of immigrants results in employers facing legal and
workforce diversity issues
– Growing concern for employers is replacing senior managers
with international experience and contact with younger workers
 Succession Planning
Process
• Succession in small and closely held organizations
– Few formalize succession plans
– Lack of succession planning is one of the biggest threats
• Address development needs of the successor to avoid potential
problems
Talent Inventory Grid
Succession Planning Decisions
 Succession Planning
Decisions
• Buy talent

Advantages Disadvantages

• Company can tap into new • Can be a costly strategy

knowledge/perspectives • Risk associated with hiring
• Obtain needed skills that unproven employees
will help the company • Risk associated with hiring
unproven employees
 Succession Planning
Decisions
• Make talent

Advantages Disadvantages

• Company can provide • Limited ability to secure new

employees required knowledge/ perspectives
competencies and
advancement opportunities
• Highly cost effective
• Employees already known
 Succession Planning
Decisions
• Metrics and succession planning
– Wide range of metrics are used to measure the impact of
succession planning depending on the company plans
– Key measures
• Identifying the reduced costs of turnover
• How succession planning and its follow-up may lead to higher
performance and organizational profitability
 Succession Planning
Decisions
• Computerized succession planning models
– Via intranet systems, employees can:
• Access and update their databases
• Review job and career opportunities
• Complete skill and career interest self-surveys and numerous other
items
 Benefits of Formal
Succession Planning
• Having a supply of highly qualified individuals ready for
future job openings
• Providing career opportunities and plans for individuals
– Helps retention and performance motivation
 Benefits of Formal
Succession Planning
• Providing a basis for the continual review of staffing
requirements as organizational changes occur over time
• Enhancing the brand of the company and establishing the
organization as a desirable place to work
 Succession Planning
Mistakes
• Focusing only on CEO and top management succession
• Starting too late, when openings are occurring
• Not linking well to strategic plans
• Allowing the CEO to direct the planning and make all
succession decisions
• Looking only internally for succession candidates
 Career Planning

• Career: Series of work-related positions a person

occupies through life
• Changing nature of careers
– Old model - Person worked up the ladder in one organization is
becoming rarer
– New model - Changing jobs and companies every few years
 Different Views of Careers

Protean Career
• Individuals adapt to career demands by shaping their own KSAs

Career without Boundaries

• Careers can span many companies or industries

Postcorporate Career
• Individual builds a career working in smaller businesses or starting entrepreneurial
ventures

Kaleidoscope Career
• Building a career by focusing on important employment factors

Hybrid Career
• Defined by both protean and career without boundaries viewpoints
 Organization-Centered
Career Planning

• Focuses on identifying career paths that provide for the

logical progression of people between jobs in an
organization
• Career paths: Employees’ movements through
opportunities over time
• Employer websites and career planning
– Used for career assessment, information, and instruction
 Organization-Centered
Career Planning

• Accommodating individual career needs

– Providing opportunities for appropriate work-life balance
– Permitting telecommuting for fast-track employees unwilling to
relocate
• Individual-centered career planning: Focuses on an
individual’s career rather than in organizational needs
Organizational and Individual Career
Planning Perspectives
Individual-Centered Career Planning
Individual Career Choices
General Career Periods
Portable Career Path
Common Individual
Career Problems
Lecture 3 – The end