What Is Talent Management—Really?
by Melisa Joeleo It Consulting ServicesTalent management is just another one of those pesky Human Resources
terms. Right? Wrong. Talent management is an organization's commitment
to recruit, hire, retain, and develop the most talented and superior
employees available in the job market.
So, talent management
is a useful term when it describes an organization's commitment to
hire, manage, develop, and retain talented employees. It comprises all
of the work processes and systems that are related to retaining and
developing a superior workforce.
Talent management is a business strategy
that organizations hope will enable them to retain their top most
talented and skilled employees. Just like employee involvement or
employee recognition, it is the stated business strategy that will
ensure the attraction of top talent in competition with other employers.
When
you tell a prospective employee that you are dedicated to a talent
management strategy that will ensure that he or she will have the
opportunity to develop professionally, you attract the best talent. This
is because studies show consistently that the opportunity to continue
to grow and develop their professional and personal skills is a major
motivator for why employees take and stay at a job.
Slight Difference Depending on Stated Talent Strategy
What
appears to differentiate talent management focused practitioners and
organizations from organizations that use terminologies such as human
capital management or performance management, is their focus on the
manager's role, as opposed to reliance on Human Resources, for the life
cycle of an employee within an organization.
Practitioners of the other two employee development and retention strategies would argue that, for example, performance management has the same set of best practices. It is just called by a different name.
Talent
management does give managers a significant role and responsibility in
the recruitment process and in the ongoing development of and retention
of superior employees.
In some organizations, only top
potential employees are included in the talent management system. In
other companies, every employee is included in the process.
In
some companies, the talent management system is accessible via
electronics; in others, informal communication among managers and HR
staff is the approach.
What Processes Are Part of a Talent Management System?
You
can include the following systems when you approach talent management
as your overall business strategy to recruit and retain talented
employees.
Recruitment planning meeting
Job description development
Job post writing and recruiting location placement for the posting
Application materials review
Phone or online screening interview
In-house interviews that can involve multiple meetings with many of your current employees
Credential review and background checking
Making the job offer to the selected person
Agreeing on the amount of the offer
Employee starting day and onboarding process
New employee welcome information and introductions
On-the-job training
Goal setting and feedback
Coaching and relationship building by the manager
Formal feedback systems such as performance management or an appraisal process
Ongoing employee development
Career planning and pathing
Promotions, lateral moves, transfers
Employment termination by choice of the employee or cause by the employer
As
stated, the majority of these work systems are squarely in the hands of
the employee's manager. HR can provide support, training, and backup
but the day-to-day interactions, that ensure the new employee's success
comes from the manager. Developing and coaching the employee comes from
his or her active, daily interaction with the manager.
HR can
take the lead in some of the activities you see on this list, especially
in recruiting and selecting new employees, and in the case of an
employment termination. HR is also deeply involved in the performance
management system, career planning, and so forth leading the development
of the systems.
But, managers are the means to carry them out
for the overall recognition of the employee's work and ongoing retention
of the employee.
Take the responsibility seriously; it's that important.
Integrate Talent Management Fully Into Your Organization
Talent
management is a business strategy and you must fully integrate it
within all of the employee related processes of the organization.
Attracting and retaining talented employees, in a talent management
system, is the job of every member of the organization, but especially
managers who have reporting staff (talent).
An effective strategy
also involves the sharing of information about talented employees and
their potential career paths across the organization. This enables
various departments to identify available talent when opportunities are
made or arise.
An organization that does this kind of effective
succession planning makes sure that the best talent you have is trained
and ready to assume the next position in their career path. Succession
planning benefits the employees and it benefits the organization.
Managers across the organization are in touch with the employees you are
grooming for their next big role.
In larger organizations,
talent management requires Human Resources Information Systems (HRIS)
that track the career paths of employees and manage available
opportunities for talented employees.
Find out more about the
work systems that talent management encompasses and the best practices
in talent management. Your effective approach to talent management will
ensure that you attract and retain the employees you need for business
success.
This Article Source is From : https://www.thebalance.com/what-is-talent-management-really-1919221
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Created on Dec 8th 2017 04:02. Viewed 802 times.