Talent Management Strategy

Topics: Management, Organization, Strategic management Pages: 5 (1707 words) Published: July 20, 2014

Talent Management Strategy
Alicia Cann
Dr. Zelphia Brown, SPHR
HRM532- Talent Management
5/12/13

Formulate a talent management strategy to encompass the entire talent requirements of the organization.
When discussing and planning your organization’s future, it’s important to consider not just the goals, objectives, and initiatives, but clearly how to accomplish them. The most important contributor is undoubtedly your employees. Aligning the organization’s business strategy with its employees is called talent management, and it encompasses aligning the right employee with the right position in the organization. Talent management is a business strategy and must be fully incorporated within all of the employee connected practices of the organization. Retaining and attracting talented employees, in a talent management system, is the responsibility of every tier of management in the organization, but especially the Human Resource managers who are in charge of hiring, training, and development. A successful talent management strategy also engages in the practice of sharing data about high profiled employees and their employment history and accomplishments to all divisions of the organization. This process of sharing openness makes it possible for a range of departments to recognize available talent when opportunities open and become available. The charting of people’s skills and strengths enable the organization to appraise the manpower that is not being utilized properly and to its highest potential. This is critical from the standpoint of the organization as well as the employee; the employee can be placed in the right position after a complete assessment of his abilities & interest and as a result the employee is more productive and satisfied. To create a talent management strategy you first have to understand the dynamics of your personnel (capabilities, capacity, educational levels, and experience) to create your talent management strategy and give you insight to what your critical skill gaps are, where the organization is incurring the most cost, and is the work being done supporting the organizations objectives. Through the use of employee evaluations, surveys, interviews employment record the following information can be recorded: how can individual goals align to team and organizational goals, who are the highest performers and what are their career paths, who are my future leaders and how can we effectively further their development, and who needs additional development before they can assume greater responsibility? The key to finding answers to the aforementioned questions will be in the methods used in gathering and tracking the desired information such as performance ratings, skill competencies, and predictable retirement or separation possibilities of your employees. This will indentify if the organization will encounter critical skill gaps in the future. If competency information was a part of the information gathered , predictions can be formulated beyond what employees are doing today and about what they are capable of in the future, which is the first step to career development and talent diversity and mobility. Using this information not only can HR position employees more strategically but also lighten the impact of economic cycles by using talent management to support the organizational strategies and goals. Talent management strategies that align with organizational goals often produce results that can be directly related to gains in revenue and customer satisfaction Once you have a clearer picture and understanding of your current workforce and future strategy, you'll want to think about where you can have the most immediate impact and focus there.

Determine the key components of talent management, including identifying, assessing, and developing talent.
Talent management consist of six components that, when implemented strategically, combine to keep an organization on the...

References: Goldsmith, Marshall & Carter, Louis (2010) Best Practices in Talent Management
San Francisco Pfeiffer
Lawler, Edward III TALENT: Making People Your Competitive Advantage
Jossey-Bass, 2008
Moore, Shelley (January 12, 2011) Understand the Components of Talent Management-Posted in Talent Management http://www.bloomware.com/understand-the-components
Schroeder, Laura Posted on (Dec. 17, 2010) How do you start formulating a talent management strategy? http://www.focus.com/questions/how-do-you-start-formulating-talent-management-strategy/
Silzer, Rob & Dowell, Ben (2003) Strategy-Driven Talent Management
San Francisco Jossey-Bass
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