Create Talent Management Model
Several models and components of talent management are presented in Chapter 1 of the Strategy-Driven Talent Management textbook. Using these as a foundation, create your own talent management model, including its components and the evaluation methods that would demonstrate that this model is effective in your organization.
Talent Management Model
Talent has become an important aspect of the organization. It is one of the elements that a company can utilize to claim competitive advantage since it is the key to success in the current economy as advanced by (Newhouse, Lewis, & Jones, 2004). As a result, organizations are rapidly switching to strategic talent management. However, the determination on whether the organization will benefit from the strategic talent management depends on how it manages the transformation (Silzer & Dowell, 2009). This can further be illustrated using talent management model as presented below:
Talent Management Model
Talent management involves managing employees’ skills, knowledge, competency, and expertise and aligning them with organizational needs (McDonnell et al., 2017). Therefore, it is essential to consider aspects of human resource management, such as planning, attracting, selecting, developing, retaining, and transitioning. Planning is the first step in the model above, and it involves identifying the gap for human resource needs. It is usually aligned with job descriptions. The second step involves attracting the right applicants, and this can be done either from internal or external sources. The next step is selecting, and it involves employing appropriate techniques such as interviews, psychometric testing, group discussions, and written tests to find the right talent. Developing is the necessary step since it ensures candidates selected are undertaken through appropriate training to equip them with the expertise needed by the organization. The organization needs to retain the talents, and this occurs in the fifth step in the talent management model. This achieved better through the component of reward and recognition. Transitioning marks the last step, and it will be achieved better if employees feel that they are part of the organization. The organization can help employees transition by setting effective succession plans, conducting exit interviews, and offering retirement benefits.
References
McDonnell, A., Collings, D. G., Mellahi, K., & Schuler, R. (2017). Talent management: a systematic review and future prospects. European Journal of International Management, 11(1), 86-128.
Newhouse, N. K., Lewis, B. O., & Jones, J. W. (2004). Strategic Talent Management: Assessment As a Foundation Foundation Generation Strategies In The Ongoing Talent War. Whitepaper, 1-11.
Silzer, R., & Dowell, B. E. (2009). Strategy-Driven Talent Management: A Leadership Imperative. Jossey-Bass.