Talent as generally defined is "Individuals who have the capability to make a significant difference to the current and future performance of the company."
Talent Management is all about effectively acquiring new talent, leveraging the existing talent and retaining the talent.
Talent Management is generally based on the following seven imperatives:
Elevate Talent to positions where they can add more value according to corporate priorities.
Create a winning employee value proposition (EVP) for attracting and retaining talent that deliver.
Build a high performance culture and instill a talent mindset at all levels of the organization- beginning with senior management
Source talent broadly and creatively; continuously recruit great talent
Develop talent aggressively and to their full potential
Make room for talent to grow by differentiating your approach to managing under performers; take action by moving on underperformers
Focus on retaining high performers by delivering on their EVP
We assist the organization in developing a ‘talent map’ that identifies the key or the emerging talent within the organization.
We develop a customized evaluation/measurement process to consistently define measure and leverage talent within the organization.
We assist the organization in developing and integrating/aligning the Talent Management Strategy with the Corporate Business Strategy, Vision, Mission, Values and all the processes such as selection, appraisal, performance measurement, reward, training and succession planning etc.
We develop customized talent development programs for the organizations in line with the corporate objectives to deliver the talent management initiative.
Talent Management Framework
Step 1. Review
Corporate Business Strategy
Corporate vision, mission and values
HR vision , mission and values
Review organization structure
Identify key positions/roles
Step 2. Develop a Talent Management Strategy
Define the corporate situation reference to talent management
Define Program Objectives
Identify key issues
Develop TM action plan
Define Success Measures
Identify the TM team
Develop an Implementation Strategy
Step3. Identifying High Potential and Selecting Participants
Success Profiling (competencies, enablers/derailers, knowledge, experience)
Nominations by Business Units/Divisions
360º Feedback Surveys
Establish Talent Map/ Pool
Step 4. Targeting Solutions
Employee Value Proposition (EVP) Survey
Prioritizing Development Needs
Talent development program
Strategies for Acquiring new talent, Leveraging Talent and Retaining Talent
Step 5. Ensuring Follow through on Development Agenda
Short term experiences
Step 7. Talent Audit
Reviewing Progress, New Assignments
Consideration of the strategic outlook for the business and talent implications
Review of the performance of key personnel
Identification of rising talent
Cross-calibration of talent across the organization
Formulation of tactics for handling the top 20 percent and bottom 10 percent of
Planning of further development for high potential managers, including additions
to the talent pool
Removal of managers from talent pool for either lack of progress or motivation
Graduation from the talent pool and appointment to suitably challenging roles in the business.
This is achieved by using a standard behaviorally anchored rating scale against a common set of organizational leadership competencies/attributes.
The Talent Management process may then take the form of a rolling cycle completed each 6 or 12 months.
Key Talent Management Initiatives
Corporate and HR vision ,mission, values statement
Talent Management Plan
Alignment/integration of TM plan objectives with
HR systems, procedures, processes and policies
Development of three tier Performance management system
Linked to vision, mission and values
360 evaluation Survey
Personality Evaluation /assessments
Development Talent Development Programs
For more details on Talent Management please contact us.