Learning Outcomesat The End Of This Workshop You Should Be Better Able ✓ Solved

Learning outcomes At the end of this workshop you should be better able to: Understand the concept of Talent Management and the link with PMD Critically evaluate the notion that ‘one size did fit all’ leading to standardized compensation, person management system, group learning and development programmes. Recognise that everyone has a unique character, unique talents and unique needs. Acknowledge that in large organisations there will be an enormous amount of personality attributes, skill levels, and cultural factors to consider. Discuss the future of Talent Management 1 What is Talent Management? Talent consists of those individuals who can make a difference to organisational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.

Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles. 2 CIPD. (2018) Talent Management Factsheet. Available at: What is Talent Management? ‘Talent management describes the actions required for the attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles.

In addition it will focus on providing career opportunities to the workforce as a whole to maximise individual and organisational potential.’ 3 NHS. (2015) Talent and Talent Management Insights. Insight 6:Developing a Talent Strategy. Available at: TM and PMD Possible job titles in TM: Talent Coâ€ordinator Talent Specialist Talent Coach Talent Manager Head of Talent Director of Talent 4 4 Challenges related to Talent Management Singapore example Full report available on Teams A classic approach to Talent Management Identify those positions which would come under the talent remit: likely to be senior and top management roles. Assess the suitability of candidates to fill these roles in the shorter term: the succession plan.

Assess the suitability of candidates for the medium term: the talent pool. Develop programmes for each of these candidates to ensure that they have the right levels of skill today and in the future. Assess and develop candidates for the longer term: graduate or fast track programmes. 7 Challenge 1: To engage all management in talent strategy Realise that the world is an open market for talented people. Talent should no longer be seen as an audience ‘looking and waiting for things to happen!’ Talent want to be part of a community that fully participates and engages in activities.

Include all staff in your talent strategy embracing both an inclusive and selective approach. Ensure that the CEO takes ownership of the talent management strategy basically becoming the CTO (Chief Talent Officer). Ensure all leaders and managers understand their responsibility to implement the talent strategy. 8 Talent Management in the 21st Century differs from Talent Management in the 20th Century 9 Talent 1.0 Succession Planning Talent 2.0 Attraction of star CEO’s and Executives Talent 3.0 Attraction of high potential and specialists Talent 4.0 Talent management in a multi-generational, multi-cultural, mobile, high expectation, networked, information transparent, global environment Talent as Audience Talent as Community Talent Management has evolved since the 20th century into more than just attracting the stars and high potentials.

It is now more inclsuive, covers a wider range of people, is more mobile and global. The perspective has shifted to Talent as community rather than Talent as audience. Everyone participates and is involved. Anyone can be talent. 9 Diverse talent community Are from … Are multi-generational: Baby boomers Generation X Generation Y (Millennials) 10 Communication with each other through … Are recruited using … Expectations In this new networked, talent community, people don’t want to be human capital, assets or resource; they want to be people.

People design, make and deliver; they develop IP and create value. And they have lives … 11 Organisational structures 12 Hierarchy Network 12 Challenge 2: To adapt an inclusive talent strategy Individuals can see a meaning in their work, life and career. They can see what the future holds. They can influence what direction they could go in. They want more information, participation and self management.

13 Question: Why would an inclusive approach to talent be difficult to implement? What are the possible challenges? 13 Defining ‘Talent Strategy’ ‘Talent strategy is the attraction, retention, reward, development and deployment of people in specific strategic positions or projects and the development of a culture of opportunity for all employees in order that the organization can achieve its business goals and objectives.’ 14 Turner, P.A. and Kalman, D. (2014) Make Your People Before You Make Your Products. Wiley: London. Challenge 3: To create a culture that recognizes talent exists in more than just a few people at the top Individuals can see a meaning in their work, life and career.

They can see what the future holds. They can influence what direction they could go in. They want more information, participation and self management. They want everyone to have the opportunity to deliver to their full potential. 15 This perspecive is a move away from what was known to be Talent Management.

It can be difficult to implement as it involves a change in mindset for some. 15 Factors to ensure an inclusive strategy works Openness about performance and realism about potential. Transparency in selection and promotion processes. Space and support for selfâ€development. An executive team and managers who have bought into such a culture.

An executive team and managers who don’t ‘hoard’ their high performers. 16 Yes everyone can be talent, however be realstic about their potential. Don’t overpromise Buy-in to this culture s crucial, just like an strategic initiative. Without support from the top it is unlikely to succeed. Fairness and transparency in who top talent are and honesty about progression.

16 TM in organisations Work together in your groups to identify an organisation which practices efficient Talent Management Use the articles on Teams as a starting point Use the library search option to find articles detailing specific organisations and their use of TM Online academic sources are also useful- HBR, HR Today etc. Discuss and present back the organisation and their use of TM. What is the role of PMD? Benefits of Talent Management Business benefits of having effective Talent Management programme Talent management programmes could enhance the organization’s performance resulting in higher business performance indicators. An effective talent management programme could support the achievement of stretch targets by ensuring a supply of leaders through all parts of the organization.

Giving talent the opportunity to gain insight into the company through structured development and secondment opportunities. The development of internationally minded leaders would support the organization’s global growth. The geography of talent focus in the organisation Local Regional Global A Cross-Boundary Matrix for Talent 20 Global specialists developed for global projects. Critical regional roles identified and development plans initiated for HIPOs. Local projects; development programmes for high potential individuals within company across whole of country.

Talent refers to high potentials and specialists either within or independent of a hierarchy Global opportunities open to all self managed development within global development framework. Regional talent framework, multi- lingual, self selection, facilitated self development. Company wide development opportunities, self selection, facilitated self development. Talent refers to all employees Global talent pools for global roles cross continent appointments of high potential individuals into development roles e.g. country manager, regional project global projects. Country 'managers' assessed for roles on regional boards or operating units cross region talent programmes and secondments.

Identification of successors to board or senior management team to local company. Identification of fast track or HIPOs. Talent consists of top managers, successors and high potentials Exclusive Inclusive The scope of talent in the organisation 20 Question: In each of these scopes, could there be negative effects on organisational performance? If yes, what would these effects be? 20 Key themes Key themes The world is an open market for talented people Create a community of talent Recognising the talent of all employees Where People strategy has equal or greater status than other strategies With the CEO as the ‘owner’ of the talent strategy And enlightened and empowering managers ‘Tools’ of talent management integrated with the tools of management Make your people before you make your products: Turner, P.A. and Kalman, D. (2014) Make Your People Before You Make Your Products.

Wiley: London. Question: Have you seen this approach in any organisation?How do we achieve this? Why is it important? 21 Overview of Talent Management 22 Organization Development Retention Career Planning Assessment Team and Individual Development Acquisition Performance Management Succession Planning Talent Management Culture Engagement Capability Capacity A holistic approach to optimizing human capital, which enables an organization to drive short- and long-term results by building culture, engagement, capability, and capacity through integrated talent acquisition, development, and deployment processes that are aligned to business goals. ASTD. (American Society for Training and Development) (2009) Question: Does this remind you of strategic human resource management?

Are talent management and SHRM the same thing? Or different? 22 Talent Management best practices % 87% 60% 48% 46% 43% 19% 19% 13% 8% 3% 3% Organisations with effective talent management systems Organisations with ineffective talent management systems The Japanese term Sunao represents a mind that accepts life in a constructive way, a mind that is docile in the face of truth. It enables us to develop disciplined objectivity, free from prejudice. Talent Management Cycle 24 Developmental activities for Identified High Potentials 5 Diagnose Individual Strengths and Weaknesses 4 Succession Planning 6 Identify + Evaluate Regional Executive Positions 1 Criteria for Leadership Success 2 Identify Individuals with Future Growth Potential 3 Selecting into Regional Executive Positions 7 Passion for Business Success Global Mind and Breakthrough Thinking Information seeking and Sunao-Mind Honesty and integrity Commitment to Collaboration Leadership for Change and Innovation Developing Talent Customer first Panasonic Leadership Competencies 24 Talent review 25 Resource Planning Discuss business strategy and objectives Identify key roles TALENT REVIEW Who do we have in the organization?

Where are our strengths and weaknesses? Skill Gap Analysis Where are the gaps between these key roles and our talent pool? Retention: How do we keep our Top Talent engaged to help meet our goals? Performance Management Are we actively managing performance and optimising resources Development: Do we have plans in place for developing future capability? Recruitment: What are our plans to acquire skills that cannot be developed internally Succession Planning: Do we have our next wave of leaders identified?

Question: How is the TM process similar to SHRM? Is it? 25 Overview of Global Human Resources Development 26 Management executives responsible for the global network management Leaders practicing global operations Frontline leaders and specialists practicing operations of each site Expected Roles Choose the right person for the right post on a Global and Group basis Human resources development initiatives Secure human resources Improve leaders' skills Develop executives Global recruitment of appropriate individuals at appropriate locations at an appropriate timing Strengthen human resources in domains, regions and job functions Screen executive candidates and develop their careers Panasonic Leadership Competency 26 What is a competency?

A competency is a set of skills, attitudes and knowledge that can be observed as a behaviour and which can have a direct impact on performance. Values: moral principles that guide corporate decision making behaviour (the ‘soul’ of the company). 27 Talent matrix 28 Key Contributor Solid Contributor Unacceptable Performer Strong Performer Reliable Performer Under Performer Leadership Talent Rising Talent Too Early to Tell High Potential Medium Potential Low Potential P O T E N T I A L P E R F O R M A N C E Opportunity Well Placed Stars Well Placed 70% - 80% Stars 5% - 10% Opportunity 5% - 10% Latent Potential 5% - 10% Latent Potential Managed differently Developed differently Employees in different parts of the matrix need to be: 1.

Low Performance 4. Strong Performance 5.Outstanding Performance 3. Good Performance 2. Inconsistent Performance Percentages refer to the typical distribution of ratings Well Placed 70% - 80% The talent matrix shows that employees in different parts of the matrix must be managed differently and developed differently. There are low, medium and high potential employees 1-5 is low performance to outstanding performance Yellow are the rising stars= high potential, good-outstanding performance Green are well placed= low-medium potential, good-oitstanding performance Grey are latent potential= high potential, low-inconsistent performance (meaning it is too early to tell if they can perform) Red have opportunity for development= low-medium potential, low-inconsistent performance Within each of the coloured boxes a percentage is given to determine where the employee would sit This can be used as part of the TM strategy 28 The calibration: Talent forum discussion 29 Current Business Context Strategy for the team Discuss Business Development pipeline Current Organisational structure Upcoming structural changes Identify critical roles for the future and any associated risks Discuss all individuals in the team to calibrate judgements– strengths & development needs Calibration data – e.g.

360 degree data Finalise Talent Matrix (through mapping individuals and discussion) Identify people who are at ‘high risk of departure’ Discuss successors to key positions Identify succession gaps Agree action plans for each person Discuss time-frames for succession to key positions and name successors Agree actions to close succession gaps Agree next steps and responsibilities Assess Performance & Potential ratings. Discussion within each peer group for the level below Strategy Context Actions In summary 30 The epic shift … The Epic Shift: Away from “Talent†and now focus on “People.†Talent scarcity is still a problem, but engagement, empowerment, and environment are now the real issues companies face.

31 31 Further reading Talent management: A critical review Robert E.Lewis and Robert J.Heckman Talent management: Current theories and future research directions AkramAl Ariss a, Wayne F.Cascio and Jaap Paauwe c2 Talent Management as High Performance Work Practice: Emerging Strategic HRM Dimension Sunita Chugh , Jyotsna Bhatnagar 32 Chart1 Metrics & Analytics Metrics & Analytics Transparency Transparency Development Planning Development Planning Manager Accountability Manager Accountability Competencies as Foundation Competencies as Foundation Senior Mgmt. Involvement Senior Mgmt. Involvement Series 1 Series Sheet1 Series 1 Series 2 Metrics & Analytics 3 43 Transparency 3 46 Development Planning 8 48 Manager Accountability Competencies as Foundation Senior Mgmt. Involvement To resize chart data range, drag lower right corner of range.

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Talent Management: An In-Depth Exploration

Introduction to Talent Management

Talent management is a critical process in organizations, encompassing a systematic approach to attracting, developing, engaging, and retaining employees who are deemed essential to the organization's success (CIPD, 2018). The essence of talent management lies in recognizing the unique attributes and potentials of individuals and strategically deploying them to maximize organizational efficiency and performance. With the changing dynamics of the workforce, it is vital for organizations to adapt their talent management strategies in order to leverage diverse skills and perspectives effectively (NHS, 2015).

The Concept of Talent Management

The definition of talent management extends beyond the conventional understanding of managing high-performing employees. According to CIPD (2018), it includes the development of talent in various roles across the organization. Organizations need to create a culture of opportunity that enables growth and collaboration among all employees, rather than limiting opportunities to a select few. In contrast to the 20th century's talent management practices, which primarily focused on succession planning and the attraction of top executives, the 21st-century approach emphasizes inclusivity and the recognition that everyone can contribute to organizational success (Turner & Kalman, 2014).

Customization vs. Standardization in Talent Management

A critical evaluation of talent management practices reveals the pitfalls of a "one-size-fits-all" approach, particularly in relation to compensation, performance management systems, and development programs. Organizations have historically adopted standardized compensation models in an effort to streamline processes, but this has often led to dissatisfaction among employees who feel that their unique contributions are not satisfactorily recognized or rewarded (Chugh & Bhatnagar, 2019). Companies are beginning to shift towards personalized compensation and development strategies that align with individuals' potential and performance, recognizing the diversity of skills and aspirations within their workforce (Al Ariss et al., 2014).
In developing customized talent management strategies, organizations must first identify the varying personality attributes, skill levels, cultural backgrounds, and motivational drivers of their employees (Lewis & Heckman, 2006). This tailored approach not only enhances employee engagement but also fosters a more inclusive environment where individuals feel valued and motivated to perform at their best.

The Complexity of Talent Management in Large Organizations

In large organizations, the complexity of talent management becomes magnified due to the diversity of employees. Various demographic factors—including generational differences, cultural variations, and individual career aspirations—must be taken into account when shaping talent management strategies (Chugh & Bhatnagar, 2019). For instance, younger generations often prioritize work-life balance, career development opportunities, and purposeful work, while older generations may be more focused on job security and traditional benefits.
Leading organizations have recognized that a multifaceted approach to talent management is necessary to navigate these complexities. This includes fostering cross-cultural competence, implementing mentoring programs, and offering professional development opportunities that align with the values of different employee segments. It also calls for a shift in leadership attitudes, with senior executives becoming champions of talent management strategies and ensuring that diversity and inclusion are prioritized (CIPD, 2018; NHS, 2015).

Future Directions for Talent Management

The future of talent management appears to be leaning toward models that emphasize inclusivity and adaptability. As organizations operate within increasingly globalized environments, creating communities of talent—where individuals can collaborate, share knowledge, and drive innovation—becomes imperative (Turner & Kalman, 2014). Talent must be viewed not merely as a resource but as a vibrant community of individuals working towards shared goals.
In implementing effective talent management frameworks, organizations should focus on several key elements:
1. Inclusive Culture: Organizations must cultivate an inclusive culture where all employees feel encouraged to express their ideas and ambitions (CIPD, 2018). This includes transparent communication and equitable promotion processes that recognize and nurture talent at all levels.
2. Continuous Development: Continuous learning opportunities, including mentorship and coaching programs, should be made available to all employees, enhancing their skills and fostering professional growth (Lewis & Heckman, 2006).
3. Data-Driven Decisions: Talent management practices should leverage data analytics to inform decision-making about talent acquisition, development needs, and retention strategies. Metrics can help organizations identify which initiatives yield the greatest return on investment (Chugh & Bhatnagar, 2019).
4. Flexibility: The ability to adapt talent management strategies as workforce dynamics shift—such as changes in employee expectations, industry trends, and economic conditions—is vital for sustained success (NHS, 2015).
5. Leadership Development: Preparing leaders to manage and inspire diverse teams effectively is essential for cultivating a thriving talent pipeline. Development programs should emphasize emotional intelligence, inclusivity, and adaptive leadership skills (Al Ariss et al., 2014).

Conclusion

Talent management is no longer merely a function of human resources; it is a strategic agenda for organizational success. By recognizing that talent can exist in many forms across all levels, organizations are better positioned to unlock human potential and drive innovation. A successful talent management strategy is one that embraces the individuality of employees, fostering an inclusive culture that engages, develops, and retains the diverse talents necessary for thriving in today's competitive landscape.

References

1. Al Ariss, A., Cascio, W. F., & Paauwe, J. (2014). Talent Management: Current Theories and Future Research Directions. Journal of World Business, 49(2), 180-190.
2. Chugh, S., & Bhatnagar, J. (2019). Talent Management as High-Performance Work Practice: Emerging Strategic HRM Dimensions. Business Perspectives and Research, 7(1), 34-50.
3. CIPD. (2018). Talent Management Factsheet. Available at: [CIPD Talent Management Factsheet](https://www.cipd.co.uk/knowledge/strategy/resourcing/talent-factsheet).
4. Lewis, R. E., & Heckman, R. J. (2006). Talent Management: A Critical Review. Handbook of Human Resource Management, 1-17.
5. NHS. (2015). Talent and Talent Management Insights. Available at: [NHS Talent Management Insights](https://www.nhs.uk/).
6. Turner, P. A., & Kalman, D. (2014). Make Your People Before You Make Your Products. Wiley: London.
7. American Society for Training and Development (ASTD). (2009). Talent Management. Available at: [ASTD Talent Management](https://www.td.org/).
8. Beechler, S., & Woodward, I. C. (2009). The Global Talent Management Challenge. Organizational Dynamics, 38(3), 218-228.
9. Collings, D. G., & Mellahi, K. (2009). Strategic Talent Management: A Review and Research Agenda. Human Resource Management Review, 19(4), 304-313.
10. Scull, N., & Burrows, R. (2018). Talent Management: A Call to Action. People Management, 20(3), 22-25.