Talent Management Concept as Part of the Emerging Business Trends
Talent management process is a two-way doctrine of recruiting the best people to perform excellent jobs and the initiatives undertaken by the company that would make their talented recruits want to stay and grow with them.
Different companies have different approaches on how to recruit and retain their employees, yet in relatively the same way, the job market today is a conglomeration of diverse aspirants. It includes those who initially put their best foot forward but cannot sustain their jobs as they walk the long mile, so to speak.
Nonetheless, the general consensus in today’s hiring processes is that they can no longer be the typical corporate pitches of yesterday’s businesses, where the results generated could be anything from near hits to bad misses.
That being the case, the known key components to talent management are not just the recruitment, training, development and management processes but also workforce strategies and career planning. Companies adopt different models, but they should all boil down to the organized manner by which each of these components have been implemented. Aligning all the components to a single business goal have been proven as effective in achieving the highest levels and numbers of successes.
But the question that would be thrown to HR Managers is–“How?”
Aligning the Six Key Components of the Talent Management Process with the Business Goal
In delving into the different components of talent management, the one driving factor in their implementation is the business goal – and said goal is often targeted at consumer satisfaction.
There was a time that most American industries lost sight of this goal because their main focus was in gaining shareholder investments. In realizing the pitfalls of this business folly, all-out efforts are now geared toward pulling together every resource into a state of organized management.
1. Human Resource Strategic Planning
The HR department was one of the most criticized sectors of the business organization because it was instrumental in the downsizing and mass layoff initiatives of a company’s management. In view of this, the department has taken a different approach by way of strategic planning for its recruitment and training processes.
The main idea is to make a careful system of planning on where to look for the best talents that would fit the Sales and Marketing Departments’ projects and forecasts for the incoming year.
There should be an action plan in place to serve as a guide to the entire recruiting team regarding the kind of talent, attitude, skills and behavioral aspects being sought. The HR action plan should also include the types of training to conduct in ways that will provide the company with the best staff that can bring to fulfillment the targeted sales.
The aim is to put in place front-line sellers and staff support that will endear the company and its products to its consumers. Instead of instilling hard-selling techniques and encouraging relentless pursuit of potential patrons, training initiatives are more focused on how to put value to the company’s products. As a result, the consumers appreciate the business because it makes their living conditions better.
This particular concept was extensively discussed and illustrated by the author in a separate article about Human Resource Strategic Planning and an HR Action Plan.
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More insights into aligning the six key components of the talent management process are found on the next page.
Aligning the Six Key Components of the Talent Management Process with the Business Goal (continued)
2. Training and Development
The concept of recruiting talent can be hindered by the reality that not all talents are well equipped with interpersonal skills, which is necessary when working with a team. In the same way, not all aspirants who possess the gift of gab and natural talent to draw people around them are always endowed with above-average talents.
The point being driven at here is that the process of on-boarding new recruits should not be generalized. Again, alignment of purpose and method is the key for effective training and development. Different strokes for different folks and how behaviors blend with functions should be the main considerations for the training initiatives.
Packaged seminars and training workshops may be basic and economical but supplementing the new recruits with additional techniques will enhance their qualifications. Inviting speakers with actual experiences and achievements provides training and development resources that are directly geared toward the achievement of the company’s business goals.
Another aspect is the speed by which positive developments can be achieved. A single occasion of listening to guest speakers can have a greater impact if followed up by related activities. Team-building exercises and role-playing workshops will make them recall and put into practice the ideas and concepts that were imparted during on-board training.
In so doing, employees will have higher levels of awareness regarding their roles in the business organization and perhaps an appreciation of the resources being utilized to make them capable of performing such roles.
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3. Performance Management by way of Frequent and Effective Communication
Traditional performance management has meant periodic evaluation as a basis of determining salary increases. This was the conventional way of motivating the human resources of a company to perform according to the standards. The better the performance, the higher the salary increment, while poor performance might not even qualify or guarantee regular employment.
However, this practice is based on the premise that the employee’s working environment and conditions are all working perfectly. Besides, it renders as obscure the real essence for performance evaluations — that of monitoring the employee’s improvements and determining the hindrances that prevent him or her from meeting the standards.
Communicating with employees periodically does not have to be limited to the occasions that an employee is up for evaluation. Communications can take place at a more frequent interval for the purpose of addressing the hindrances at the earliest stage. They do not have to be formal but should be documented in order to monitor developments as well as give the HR manager or the supervisor a better insight about employees’ needs.
More importantly, this will manifest the company’s genuine interest in making him or her a part of the corporate family. Peer-training could bring about a natural human reaction of insecurity for the trainer; hence, some tend to hold back with the proper training processes. If all employees are aware that there is a system of career-pathing in place, there will be fewer reasons for incumbent employees to feel insecure.
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Please proceed to the next page where more insights on the six components of the talent management process are discussed.
Aligning the Six Key Components of the Talent Management Process with the Business Goal (continued)
4. An Effective System of Communication
An effective system of communication is different from effective communication. A system provides employees with ways and means for airing their ideas, for voicing their issues or making known their problems. On the other hand, effective communications generate results and are instrumental in tying up the loose ends that could hamper not only an employee’s growth but that of the company’s as well.
Some companies have Employee Assistance Programs (EAPs), which aim to provide professional and confidential help for employees. This takes into consideration the fact that supervisors and managers are not really equipped with the right skills and knowledge to provide guidance counseling or even psychological assessments.
The matter of observing a system of protocol for communication is likewise an important component of the talent management process. In knowing the levels and avenues of communication available, there will be less room for unaddressed issues because the employee will have other recourses and resources by which they can bring matters to management’s attention.
5. Succession Planning Program
As mentioned earlier, one of the hindrances to training programs is the natural human behavior of developing a sense of insecurity when new recruits come in. The possibility that any of the new hires can ruin an employee’s chances for career advancement will naturally keep him from giving full support to the trainee.
However, if the incumbent employee knows that he is also being groomed for future positions that denote advancement, he will likewise experience the need to learn from those who can provide him with adequate training. Otherwise, his own readiness to assume the position could be affected and could render him as the least of the likely replacement choices.
Another system that could be considered in lieu of a succession planning program is the referral system, in which an employee may be recommended to an affiliate or sister company as a means of providing career growth and advancement. .
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6. An Employment De-Boarding Program
Establishing a system for handling retiring, departing or resigning employees provides additional resources on how to enhance or improve the organization’s system. This deals not only with the exit interviews or questionnaires to which departing employees will furnish insights regarding the company’s hiring and employment procedures. This is also about putting in place programs for promoting the value of long-term tenureships.
The awarding of commemorative plaques of appreciation or recognition of contributory work or for years of loyalty should also be considered. Systematic methods of re-organizing or restructuring whenever job positions become vacant will allow work flow to continue during the process of filling vacancies.
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The talent management process as an essential part of business management indicates that employees are now regarded as important links to business success. Management merely formulates strategies, but the support of well selected, adequately trained, professionally managed and genuinely talented employees is still the main element that will lead to the attainment of business goals.
The Assessment Center Method and Methodology: Development Dimensions Internationale lifted from https://www.ngpharma.com/article/Integrated-Talent-Management--A-comprehensive-approach-to-driving-organizational-performance/