Module 02 - TALENT MANAGEMENT

“Talent management is the use of an integrated set of activities to ensure that the organisation attracts, retains, motivates and develops the talented people it needs now and in the future. The aim is to secure the flow of talent, bearing in mind that talent is a major corporate resource” (Armstrong, 2006)

It is assumed that talent management is only concerned with significant people of the organisation. But all employees have various talents, even if some have more ability than others. However, managing skills is a collaborative activity to ensure retains, motivates and develops capable employees in the present and the future.

Talent management begins with business strategy and what it underscores by people with talents with the skills of the organisation. The element of talent management as follows;

• The resourcing strategy
• Attraction and retention policies and programmes
• Talent audit
• Role development
• Talent relationship management
• Performance management
• Total reward
• Learning and development
• Career management

(Source: Handbook of Human Resource Management Practice (10th Edition))

Talent management can only be managed concerning human resource performance or discipline, or small businesses that are targeted at the development of the people and the organisation. It could be used for mapping people against the future initiatives of the organisation by conducting an interview for all employees end of the year and discussing their strengths and developmental needs. Further, it could be more beneficial to the organisation as follows,

The right person in the right job – It is essential to the organisation because the right person is deployed in the right position, then employee productivity is increased and their interest and job satisfaction increased.

Retaining the top talents – It is essential to leadership, market share and stable in the market because the risk can be mitigated by implementing the finest stagiest to their competitors.

Better hiring - The quality of the organisation will increase with talent workforce top to bottom since the hiring assessment also should be perfect and should be hired only highly skilled people.

Understanding employees’ better - The annual appraisal give a deep insight into the employee to the management. Then the administration should analyst their development needs, career aspirations, strength and weaknesses, abilities, likes and dislikes. It is easier, therefore, to determine what motivates whom and this helps a lot Job enrichment process. 

Better professional development decisions - When an organisation gets to know who its high potential is or more suitable, it is easy to invest in their professional development. Since the investment decisions may be towards learning, training and development of the individual either for growth, succession planning, performance management etc., an organisation remain bothered where to make this investment and talent management make this more comfortable for them.

The talent management process can describe as follows,

1. Understanding the Requirement: It is the foundation and plays a vital role in the success of the whole process. The primary objective is to determine the requirement of talent.
2. Sourcing the Talent: This is the second stage of the talent management process that involves targeting the best talent of the industry. Searching for employees according to the requirement is the main activity.
3. Attracting the Talent: It is essential to draw talented people to work in the organisation.  After all the main aim of the talent management process is to hire the best people from the industry.
4. Recruiting the Talent: The actual process of hiring starts from here. iT is the stage when people are invited to join the organisation.
5. Selecting the Talent: This involves meeting with different people having the same or different qualifications and skill sets as mentioned in the job description. Candidates who qualify this round are invited to join the organisation.
6. Training and Development: After recruiting the best people, they are trained and developed to get the desired output, and they gradually adapt to the organisation culture.
7. Retention: Hiring them does not serve the purpose altogether. Conservation depends on various factors such as pay package, job specification, challenges involved in a job, designation, personal development of an employee, recognition, culture and the fit between task and talent.
8. Promotion: No one can work in an organisation at the same designation with the same job responsibilities in an extended period. Job enrichment plays an important role.
9. Competency Mapping: Assessing employees’ skills, development, ability and competency is the next step. If required, also focus on behaviour, attitude, knowledge and future possibilities for improvement. It gives you a brief idea if the person is fir for promoting further.
10. Performance Appraisal: Measuring the actual performance of an employee is necessary to identify his or her real potential. It is to check whether the person can be loaded with extra responsibilities or not.
11. Career Planning: If the individual can handle the work pressure and extra responsibilities well, the management needs to plan his or her career so that he or she feels rewarded. It is good to recognise their efforts to retain them for a more extended period.
12. Succession Planning: Succession planning is all about who will replace whom shortly. The employee who has given his best to the organisation and has been serving it for a very long time deserves to hold the top position. Management needs to plan about when and how succession will take place.
13. Exit: The process ends when an individual gets retired or is no more a part of the organisation.(Source: Management study guide)

Reference

Armstrong, M. (2006). Handbook of Human Resource Management Practice (10th Edition). 10th ed. London, GBR: Kogan Page, Limited.

Juneja, P. (2018). Talent Management Articles. [online] Managementstudyguide.com. Available at: https://www.managementstudyguide.com/talent-management-articles.htm [Accessed 30 Dec. 2018].

Bhattacharyya, B. (2018). Step by step Talent Management Process - Keka. [online] Keka. Available at: https://www.keka.com/talent-management-process/ [Accessed 30 Dec. 2018].