Sustainable Talent Management Analysis
Talent management has been one of the greatest concerns in the global business arena for human resources. All organizations strive to acquire and retain top talent as it accords them a competitive edge. Talent management, to a great extent, determines the future success of an organization. With the existing dynamic global business contexts, the management encounters a problem in leveraging the workforce to attain the desired goals and turn to talent development and management (Yarnall, 2011). HR teams desire to recruit and retain talented candidates through motivation. The management promotes the performance of the recruited talent by initiating innovation-based training programs. Generally, the best approach to the issue of attraction and retention of top talent is the creation and implementation of a proper talent management strategy.
Determine which performance management process you will employ to measure employee talent.
Performance management is a dynamic concept whose interpretation has significantly changed over the past few decades. Traditionally, performance was mainly measured through the profits and the losses of a company (Tetik, 2017). The traditional approach is, however, currently viewed as too simplistic. Companies no longer measure performance through targets or rely on the feedback of the management. Organizations are becoming increasingly complex, and the employees ought to keep up with the trends. Ideally, if profits were the only considerations in performance management, most firms would be run by computers as it could be cheaper than employing human beings (Tetik, 2017). It is the requirement for human intelligence and experience that makes companies more interested in them to manage the overly complex systems within the company.
For an effective measurement of employee talent, I would employ the performance appraisal system. This approach measures employee practices relative to the policies of the organization, its culture, and the rank of the employee (Tetik, 2017). Modern organizations conduct regular appraisals on their employees to create feedback that is used to justify salary increments and cuts, bonuses as well as the termination of employees. Even though performance reviews are mostly conducted annually, they can be conducted more often, for instance, quarterly. Performance appraisals are ideal tools in the determination of the best performing employees who have the greatest contribution to the company and rewarding them accordingly. There are various types of performance appraisal, but I would choose the 360-degree feedback assessment. In this type of performance appraisal, feedback is sought from the individual employee, his or her peers, and the supervisor. The assessment provides a comprehensive report of the talent as well as its yields.
Analyze the key concepts related to the talent pools and the talent review process.
The human resource teams in firms play greater roles than just availing the required human capital. The roles cover broader aspects, such as ensuring that the organization has a well-prepared leadership succession plan. Ideally, talent pools bring together individuals who have high potential and have been performing quite well in the organization. This implies that that succession plans are based on the values and competencies of the company as opposed to the specific skills required for a particular position (Mcdonnell, Collings, Mellahi, & Schuler, 2017). This strategy helps in dealing with the main gap in formal succession plans- having to tell a specific employee that they are part of the succession plan. It is far much better to tell a talent pool that it is part of the succession plan as opposed to categorically telling an individual that he or she will be the next chief financial officer.
The creation of talent pools and talent review process are critical aspects that organizations can use for effective planning. Talent pools and talent review process enables an organization to identify the existing talent, evaluate the performance, and predict future needs (Mcdonnell, Collings, Mellahi, & Schuler, 2017). Earlier planning helps in sourcing the required talent early enough to avoid lagging in some operations. In this sense, talent pools and talent reviews are viewed as strategies to identify potential hardships in the future. For instance, an organization may require talent in a specific working area. The talent may be acquired either by seeking the services of a qualified and experienced employee or training a qualified employee in the company on the specific needs to fill the slot in the future.
The talent review process helps in the identification of talents that are at risk. It is becoming one of the top management practices in most organizations and entails a broad view of the leadership of an organization to meet its needs both in the present and in the future. It helps in determining the status of the talent pool in a firm. Firms develop an inventory of the existing talent to put strategies of filling in the apparent gaps of leadership. The talents that are at risk are mainly identified relative to the strategic plan of the organization, areas of inadequacy, and workforce implications.
Develop appropriate talent management objectives to measure functional expertise.
Every organization strives to develop and retain the right employee team. This goal can only be achieved through strategic talent management. Leaders must guarantee talent sustainability through the engagement of proper analytical tools. The ability of a company to retain the employees who can meet all business goals is embedded in the company’s strategic management. Therefore, the leaders have to engage a high-performing team of employees for the success of a company. Employees have to be always motivated by fusing their talent into the company’s strategies and maintaining high levels of consistency both management wise and functionally.
The main talent management objective to measure functional expertise is recruiting top talents. Ideally, the cycle of talent management begins with attracting potential employees. Once an organization has recruited the best talent, it is almost assured that it has the desired functional expertise. To attract the desired talent, the HR practices ought to be made very attractive. The organization must have developed a good reputation, business culture, and employee benefits (Beheshtifar & Nekoei-Moghadam, 2011). Ideally, employees seek opportunities in companies that assure them professional growth as well as an opportunity to strike a balance between their work and life.
Once the top talent has been attracted, it is always key to adjust the organizational values and practices to incorporate them into their respective departments. This objective is best achieved by enhancing transparency and information sharing mechanisms. The leaders should strive to ensure that there exists proper collaboration channels within the organization that allow the easy transfer of information (Beheshtifar & Nekoei-Moghadam, 2011). Enhanced information sharing aids in absorbing the recruited talent into the system and allowing them to develop a sense of belonging. Organizations that have proper communication channels help their employees to grow quickly to become experienced in their fields.
Lastly, talent management should be closely aligned with various aspects of the organization to guarantee improved functional expertise. Ideally, strategic goals should be properly aligned with human and non-human resources. Proper goal alignment in organizations is an essential tool that helps in the identification and clarification of the practices, values, and roles of the recruited talent. It creates improved employee commitment, high satisfaction levels, employee retention capacity, and high motivation.Assess the key elements of global talent management as they apply to your organization.
Most organizations around the world are increasingly becoming aware of the global trends in talent management. In my organization, the management is aware of the existing challenge in the establishment and sustainability of talent. The organization is cognizant of the fact that the demand for talent is far much higher than the supply. Thus. The management adequately adjusts to keep up with the existing demographics and to attain a competitive edge in the labor market markets. This is achieved through technological advancement and globalization. The two practices have made it very possible for the organization to attract and sustain various talents on a global scale.
The global talent management scene emphasizes diversity. The organization that I work for is so open to all forms of diversity- gender, racial, religious, cultural, and regional. We believe that diversity shapes dimensions and that dimensions shape the performance of the organization. The organization has set policies that encourage diversity and has put clear consequences that may be faced by anyone practicing discrimination regardless of their rank.
Recommend a process that optimizes a sustainable talent management process.
Different organizations use different processes in talent management. However, all processes are aimed at establishing talent sustainability. The failure in the processes that are applied is mostly due to a lack of proper incorporation into the organizational strategy (Sareen & Mishra, 2016). The ideal process in the optimization starts with the identification of the needs of the organization. The company needs should always rhyme with the objectives of the talent management process. After need identification, the management should assess the status of talent in the organization at present. This helps in the realization of gaps. The process ought to outline a framework that will help in improvement. It should involve the scrutiny of the gaps that exist between the current metrics and the targets (Sohel-Uz-Zaman, 2018). Generally, optimal talent management practices involve focusing on not only the current talent requirements but also the future needs. Leaders should be involved in the process to mitigate the possibility of making mistakes. Communication is also key in the process to avoid misunderstandings and help in incorporating talent management in the organizational culture.
Conclusion
Organizations that desire to attain global competitiveness have to conduct regular checks on their talent management practices. The organizations must ensure that their practices are up to date with global trends and are practical enough. An effective talent management strategy ought to be involving enough to cover the employees and the management as well as the immediate and later goals of the organization. Organizations that have mastered the art of talent management have been able to sustain their talents and build a team of highly motivated employees. Such businesses strictly adhere to the global determinants of talent management, such as dynamism and diversity.
References
Beheshtifar, M., & Nekoei-Moghadam, M. (2011). Talent Management: A Complementary Process for Succession Planning. Life Science Journal, 88(44), 474-477.
Mcdonnell, A., Collings, D. G., Mellahi, K., & Schuler, R. S. (2017). Talent management: A systematic review and future prospects. European Journal of International Management, 11(1), 86-128.
Sareen, P., & Mishra, S. (2016). A Study of Talent Management and Its Impact on Performance of Organizations. Journal of Business and Management, 18(12), 66-73.
Sohel-Uz-Zaman, A. S. (2018). Understanding the Fundamentals of Talent Management for. International Journal of Economics, Finance and Management Sciences, 6(3), 98-103.
Tetik, S. (2017). Talent Management: A Review of Theoretical Perspectives and a Guideline for Practitioners. Nile Journal of Business and Economics, 4, 40-56.
Yarnall, J. (2011). Maximizing the effectiveness of talent pools: A review of case study literature. Leadership & Organization Development Journal, 32(5), 510-526.