HRM 207 - Talent Management Assignment/Research Work 2 1) Key Phases For Implementing A Talent Management Program
HRM 207 - Talent Management Assignment/Research Work 2 1) Key Phases For Implementing A Talent Management Program
Morales
ASSIGNMENT/RESEARCH WORK 2
Many HR groups struggle to formulate a talent management strategy that maps out their
goals and priorities for the year and ties these to their organization's strategic plan and goals.
The reasons why are varied, but without a talent management strategy and plan, the results are
usually the same - the HR team is not seen as playing a strategic role in their organization, and
talent management activities aren't given the organizational importance they should have.
Often the hardest part is getting started with the right framework for the strategy and plan.
To help you, this article walks through the typical steps in a strategic planning process, so you
can use them draft your own HR talent management strategy.
For example, if your organization has a goal to rank #1 in the industry for customer
satisfaction, you need to identify your current customer satisfaction rating and the rating
required to rank #1 in your industry, then identify the gap between these two. The risk of not
improving customer satisfaction ratings by this degree could include a drop in market share or
in sales.
STEP 4: DEFINE YOUR HR PRIORITIES AND GOALS
Based on the goals, challenges and gaps you identified in steps 1-3, identify HR goals for
the coming year to support the organization in achieving its goals. You should typically
identify 3-5 goals. Don't forget to make them SMART (specific, measurable, achievable,
realistic/relevant, time-bound) and link them to the applicable corporate goals.
Again, make sure you measure both the implementation and effectiveness. That is, was
the initiative executed as planned, as well as did the initiative have the desired effect. For
each HR goal, define the methods you will use to communicate results.
Talent management is a constant process that involves attracting and retaining high-
quality employees, developing their skills, and continuously motivating them to improve
their performance. The primary purpose of talent management is to create a motivated
workforce who will stay with your company in the long run. On the other hand,
replacement planning fills an immediate need . The first area of discrepancy is planning.
Replacement hiring is typically employed when there is an immediate need. For
example, a leader decides to retire and a role becomes vacant. Then, either a
subordinate fills the role or an external candidate is hired. This usually results in a long
learning curve, as there would likely not be any transition period between the
incumbent and their replacement.
Carrying out talent management isn’t always easy. Many problems can come up,
like managers not being invested in helping employees, unmotivated/disgruntled
employees, and an employee who is not a good fit for the company.
Take a look at some of the leading talent management issues and challenges a business
could experience:
Ineffective leadership
Strong leadership throughout the company is the basis of talent management.
Managers and other top employees take on an important role in developing and
retaining employees. If there is ineffective leadership within the company, employees
won’t have guidance in developing their talent. The company as a whole needs to come
together to train and keep employees. Without strong leaders, there won’t be anyone
to carry out talent management.
Employee turnover
Talent management focuses on developing an employee from start to finish. This
can help employees feel valued, challenged, and satisfied with their jobs. Without
successfully implementing talent management, a business could experience high
employee turnover rates. High employee turnover rates happen when an employee
feels like their job is stagnant and their pay won’t increase. An employee doesn’t want
to do the same tasks day after day. Instead, they want to grow in their abilities, get
promoted, and take on new responsibilities. If employees leave, the business needs to
start over in the talent management process. It’s especially challenging if managers or
high-level employees leave the company. Then, the business needs to find replacements
quickly. Without managers, the talent management process could fall apart.
Here are five key strategic elements that can have a profound and long-term impact on
the success and viability of business:
A key aspect of top talent or high-potential programs is that these programs need to be
driven by business leaders with HR as facilitator, advisor and the function which asks the
right questions and keeps the program on track.
5. Employee Experience
Ultimately, business results flow from great employee experiences. When talented
employees are excited and engaged about their work, they deliver great experiences for
customers and eventually, great business results.
Many business and HR leaders fail to see the link between how emotions impact the
outcome of work for employees. So while the emphasis is on obsessive measurement and
achievement of business goals, the positive or negative emotions that either help or derail
results are ignored. A great talent strategy is able to articulate and provide linkage between
positive emotions of employees (which come from memorable experiences) and eventual
business results.