What is Talent Management?
Talent management means different things to different people. There are, however, some commonly accepted principles. It is about:
| Delivering exponentially increasing personal and business performance |
| Focussing attention on the few individuals with special skills and abilities needed for the successful delivery of the organisation’s strategy |
| Identifying and measuring individual potential as well as performance |
| Utilising the concept of potential to inform or create career and succession management processes for everyone in the organisation |
A Talent Management model will usually need to:
| Deliver a major contribution to achievement of our ambition, strategy and corporate priorities |
| Increase the ROI from people employed |
| Distinguish us from other organisations and, thereby, give a leading edge |
Implications of introducing a talent management model:
In deciding whether and how to introduce a talent management model, consideration will need to be given to the following:
| The magnitude of increased costs that would arise from the additional investment in people within any talent pool, eg specific training and development |
| The appropriate size of any talent pool |
| How to identify employees with high potential to include within the talent pool |
| Whether the ambition of the organisation and its strategy needs an investment in talent to be achieved |
| Whether people within the talent pool need to be covered by a richer/different reward packages |
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Whether line managers of these individuals will require specific training/coaching to effectively manage high potential individuals |
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How to reintegrate positively back into the main workforce anyone who does not deliver/continue to deliver exponential performance or who chooses to leave the pool |
| How to communicate effectively the importance and objectives of our talent management model to other employees, so that they understand the benefits and are supportive of the initiative and those in the talent pool |
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Which HR processes will need changing or introducing. Eg, for recruitment of high potential employees; assessment of high potential; and succession-planning. |
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How to develop new career and succession management processes and train manages to deploy them |
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How to measure the success of the model |
Talk to us now to dicuss how to create a tailored approach to Talent Management and how it can deliver tangible ROI for your organisation....
