Your complete Talent Management Resource.
The term talent management means different things to different
people. To some it is about the management of high-worth individuals or "the
talented" whilst to others it is about how talent is managed generally
- i.e. on the assumption that all people have talent which should be identified
and liberated. Through the use of training
software, organizations can begin to leverage the their diverse skill sets.
This term is usually associated with competency-based human resource
management practices. Talent management decisions are often driven
by a set of organizational core competencies as well as position-specific competencies.
The competency set may include knowledge, skills, experience, and personal traits
(demonstrated through defined behaviors).
Older competency models might also contain attributes that rarely predict
success (e.g. education, tenure, and diversity factors that are illegal to
consider in many countries).
In the late 1990s, technology companies engaged in a 'war for talent'.
The term was coined by McKinsey & Company following a 1997 study and then it was
the title of a book by Ed Michaels, Helen Handfield-Jones, and Beth Axelrod.
Talent management is the strategy that drives the specific
events that people experience in the workplace. It encompasses seven things:
1) Corporate identity: Who are you as an organization? Do you have the desired
culture? Do all of your employees understand your vision, mission and core values
or beliefs? What keeps your employees coming to work each day? What drives their
behavior in the workplace with your customers and with one another?
2) Recruitment and selection: How do you identify and select the “right” people
for your organization? Is it based on gut feel? Is it based on their education
and skill level?
3) Performance management and coaching: Are you properly managing performance
and providing the kind of coaching employees need to improve?
4) Employee development and training: Are you developing your employees? Are
you helping them identify a plan to improve their skill set and maximize their
potential?
5) Compensation, rewards and benefits: Are you properly rewarding your employees?
Do you have the proper structures in place to ensure your employees meet their
financial needs?
6) Success planning and leadership development: Do you have a plan in the event
that “Joe gets hit by a bus”? How are you creating tomorrow’s leaders?
7) Compliance, policy and procedures: Do you have your ducks in a row? Are you
meeting your legal obligations? How are you handling employee relations?
Think of talent management as links in a chain supporting your organization.
If any of these links fail, the whole chain fails, causing your organization
to fail in meeting its goals. Success begins with leadership. If leadership
doesn’t drive this down, middle management is doomed to fail. They end up making
promises they can’t keep, and they end up worse off than before. (From "Talent
Management. What does it mean?")
Are you ready to leverage the benefits of Talent Management?
Talent Management System | Talent Management 360 | Learning Management