Sustainable Talent Management Assignment
With the same talent management strategy in mind from the Talent Management Strategy assignment, write a 6–8 page paper in which you:
Determine which performance management process you will employ to measure employee talent.
Analyze the key concepts related to the talent pools and the talent review process.
Develop appropriate talent management objectives to measure functional expertise.
Assess the key elements of global talent management as they apply to your organization.
Recommend a process that optimizes a sustainable talent management process.
Use at least five quality academic resources in this assignment. Note: Wikipedia and other websites do not quality as academic resources.
Sustainable Talent Management Assignment Sample
With technological change, demographic shift, population growth, and globalization, sustainability has had a huge influence on business operations. Today, businesses are more concerned with sustainability than before, and they are no longer employing sustainability practices on the business operations only, but also in the management of human resources. In the human resource management context, companies have set strategies to ensure the business has a continuous and sustainable source of the human capital that can serve the organization now and in the future. With the dynamism in both of the business’s internal and external environments, future organizations will need new competencies and skills to combat the challenges. Firms will be forced to review the talent management tools to conform to the demands of the future changes. It is only with sustainable talent management practices when the company can develop value not only for itself but also for the society (Strandberg, 2015). For the organization to thrive in the wake of current and future changes, there is a need to develop sustainable talent management systems. Based on the envisioned organization, the discussion concentrates on sustainable management practices, including the performance management process, concepts of talent pools, measures of functional expertise, global talent management, and sustainable talent process.
Performance Management Process to Measure Employee Talent
The performance management process comprises the set of standards that are used as criteria to evaluate employees’ performance over a specified time (Aguinis, 2013). In the measurement of employee talent, the performance management process is used to manage both the current and future human resource needs of the organization. Based on the nature of talent management, using a 360-degree performance management process would be well-suited for measuring employee talent. The acquisition of talent comprises various stakeholders, and as such, they should also be involved in the process of evaluating an employee they voted yes for. The 360-degree feedback is known for involving several stakeholders in employees’ performance evaluation. It is defined as a multi-rater evaluation process whereby employees receive anonymous feedback from workmates, managers, customers, peers, and subordinates (Aguinis, 2013). With 360-degree feedback, the employees receive information on their performance as well as how others perceive them. This performance management process has various benefits, including revealing the need for employee development or change. It also provides an opportunity for boosting individual employee career development and a chance for the stakeholder to register their satisfaction or dissatisfaction with a particular employee. The employee uses provided feedback to increase the level of satisfaction for stakeholders, for example, customers.The 360-degree feedback approach has proved as the best for talent management since it gives the company’s HR practitioner an extensive understanding of the current employees’ strengths and weaknesses. This helps the HR department to set programs that will tune employees to improve their performance and productivity. It will suit well in the envisioned organization since it will allow the 20 leaders to assess the performance and efficiency of each individual employee as well as peer to peer evaluation and how they are suited to both current and future human resource needs of the organization. It provides an objective and impartial statement, and it involves the evaluation of all those who interact or relate with the target employee. With its multi-dimensional feature, 360-degree feedback is effective in addressing various HR skills, including goal setting and resource management. It also assesses the individual employee’s subjective traits such as leadership qualities, which are important aspects for the future success of the organization. It can be concluded that the 360-feedback performance management tool works best when used for talent management strategy. It supports employee developmental skills by assessing their strengths and weaknesses and provides the basis for coaching and training plans to overcome the weaknesses and maximize strengths.
Concepts Related To The Talent Pools And The Talent Review Process
Jooss, Burbach, & Ruël (2019) defined talent pool as the source or place where human resource managers and recruiters keep the job candidates. In the talent management context, the talent pool does not only apply for the job applicants but also potential candidates. The pool comprises of the candidates who are in different stages of the career, including the referred ones, sourced ones, and the ones working in other organizations who have the potential of joining the target organization (Yarnall, 2011). In the wake of demand for a highly skilled and competent workforce, the talent pool has become the key area that helps organizations to develop employees based on their skills and competencies. The talent pool is voted as among the best approach of addressing succession planning challenges since the company has the future of the organization in place and in waiting. Talent pools bring in the aspect of flexibility that helps organizations to cope with the dynamism in their operational environment.The creation of a robust talent pool follows various steps, including reviewing the organizational strategies, identifying the skill gaps, offering training and coaching, and reviewing the progress to appropriate regular adjustments. Reviewing the organizational strategies and identifying the skills gaps will help the HR manager to spot skills deficiencies as per the organization’s strategies. This will be followed for the provision of appropriate training and coaching programs to equip the candidates with the skills needed to execute organizational strategies. Therefore, talent pools stand as vital tools for an organization to identify, acquire, and talents more effectively and strategically.
Talent review is fundamental in helping the business meet its objectives and addressing the challenges of filling the right people in the right positions. The effective review ensures that the organization has high potential talent in place for future responsibilities. The review is useful for evaluating the candidate’s individual characteristics, communication and social styles, leadership, and management competencies, and decision making effectiveness. As such, the review should follow particular steps to make sure only the right candidates are acquired and developed. The right candidates in this context mean the ones who can address both the organization’s current and future human resource needs. The Bridgespan Group (2015) presented four steps that should be followed while performing a talent review. The first phase involves individual assessment, whereby the candidate suitability for both current and future responsibilities is assessed from a holistic perspective. The second step comprises of management team calibration, under which the individual assessments are discussed with colleagues for proper adoption of performance criteria and identification of the development needs. The third phase encompasses individual development and retention planning. In this step, individual assessment is translated to retention and development plan in line with specific position responsibilities, learning, and opportunities. Finally, implementation and monitoring marks the last talent review process and involves sharing the assessment and development plans for establishing plans to bellowed to implement and monitor the progress.
Talent Management Objectives to Measure Functional Expertise
Talent management address various objectives, and among them are the ones that measure functional expertise. Gilkey (2019) defined functional expertise as the knowledge, skills, and competencies acquired through experience, deliberate practice, and study. Based on the nature of the functional expertise, the talent management objectives that are used to measure are the ones that focus on identifying the skill gaps and provide the candidates with appropriate developmental programs. The talent management objectives to measure functional expertise consists of:
- Identifying critical gaps between the current talent and the one appropriate for realizing business success.
- Developing a talent plan to close or reduce the talent gap.
- Developing talent to improve current performance and create standby talent for future responsibilities.
Key Elements of Global Talent Management
Global talent management has increased in the wake of globalization. Global talent management encompasses organizational activities that involve attracting and retaining highly talented candidates to meet the organization’s strategic roles on a global scale. In order to meet the strategic roles, global talent management must possess unique elements that are presented by Stahl et al. (2012) as alignment with strategy, internal consistency, cultural identity, management involvement, the balance between global and local needs, and brand identity. The alignment strategy is based on matching talent management strategy with the envisioned organization’s strategy. This will ensure that the talent acquired can help the organization execute its strategies. The internal consistency involves applying talent management practices that are consistent with the organizational practices. The talent management practices in the global arena should not deviate from the practices employed by the company. Cultural identity is critical issues, which, when well addressed, can have severe impacts on the operations of the organization. Therefore, the organization should ensure the newly acquired talents are properly integrated into its corporate culture, identity, ideas, and values. Management should be involved in talent management decisions since they are key stakeholders who might influence how the future leadership of the organization will perform. The balancing of global and local needs is a fundamental element that should never be ignored. While operating in different countries, companies experience various cultures, politics, regulations, trade laws, and demographics. Therefore, applying its talent management practices, the organization needs to put local needs into practice and incorporate them to avoid conflicts with the relevant stakeholders. Brand identity is highly recommended for global talent management. Using the differentiation approach, the organization can build its international reputation based on the ways it attracts, develops, and retain employees.
Process That Optimizes Sustainable Talent Management Process
A sustainable talent management process should address both the current and future organizational needs of the company (Human Capital Institute, 2008). Therefore, a sustainable talent management process will be well optimized by continuous assessment of the organization’s current and future needs. By adopting this process, the organization will rely on both internal and external candidates to build a talent pool. This approach will help the organization to address its strategic roles as well as future responsibilities. As a sustainable aspect, talent management should be a continuous process that attracts and retains the best employees to attain organizational goals, gain competitive advantage, and develop a sustainable business. This will be achieved best with continuous assessment of the current and future human resource needs.
Conclusion
Positioning organization, both current performance and future growth, calls for the creation of sustainable talent management. The achievement of this is based on a sustainable talent pool that can sufficiency some human resources to address both organization’s current and future demands. As such, the envisioned organization needs to employ a proper building block robust talent pipeline. By doing so, the proposed organization will be able to adapt to the changes ins its internal and external environments.
References
Aguinis, H. (2013). Performance Management. Edinburgh: Heriot-Watt University. Retrieved from https://www.ebsglobal.net/EBS/media/EBS/PDFs/Performance-Management-Course-Taster.pdf
Gilkey, C. (2019, May 23). Which Kind of Expert Are You? Productive Flourishing: https://www.productiveflourishing.com/which-kind-of-expert-are-you/#:~:text=Functional%20expertise%20is%20accrued%20through,associate%20functional%20expertise%20with%20mastery.
Human Capital Institute. (2008). The State of Talent Management: Today’s Challenges, Tomorrow’s Opportunities. Human Capital Institute. Retrieved from https://www.shrm.org/ResourcesAndTools/hr-topics/organizational-and-employee-development/Documents/hciLibraryPaper_79300.pdf
Jooss, S., Burbach, R., & Ruël, H. (2019). Examining talent pools as a core talent management practice in multinational corporations. The International Journal of Human Resource Management. doi:10.1080/09585192.2019.1579748
Stahl, G. K., Ingmar, B., Farndale, E., Morris, S. S., Paauwe, J., Stiles, P., . . . Wright, P. (2012). Six Principles of Global Talent Management. MIT Sloan Management Review, 53(2), 25-33. Retrieved from https://sloanreview.mit.edu/wp-content/uploads/2011/12/01b770190b.pdf
Strandberg, C. (2015). Sustainability Talent Management: The New Business Imperative. Strandberg Consulting. Retrieved from https://corostrandberg.com/wp-content/uploads/2015/04/sustainability-competencies-2015.pdf
The Bridgespan Group. (2015). Talent Review and Development Process: A Step-by-Step Guide. EduFuel. Retrieved from http://www.edfuel.org/wp-content/uploads/2017/08/EdFuel.Bridgespan-Group-Talent-Review-and-Devt-Process-Guide.pdf
Yarnall, J. (2011). Maximizing the effectiveness of talent pools: A review of case study literature. Leadership & Organization Development Journal, 32(5), 510-526. doi:10.1108/01437731111146596