Talent Management

INTRODUCTION:

In the organization structure Talent Management is more than Human Resource Management. Leadership development is the initiatives or succession planning for the organization. It is the collective approach to recruiting, retaining and developing talent within the organization for its future benefit, and extends beyond the domains listed above to include Strategy, organizational culture, and change management. Ultimately the top talent within the organization will increase the customers and by that the company output will be develop based on the customers.

In the organization scenario Talent Management defined as the integrated processes, activities and tools in the areas of recruitment, compensation, performance management, succession planning, career planning and learning in order to identify, promote, and retain talents and to increase their performance contribution. To lead in the present and the future, the organizations must emphasize two things one is talent and another one is environment.

An organization must employ and retain the best, brightest, and most diversified people in order to innovate. The aim is to create what I call a united talent workforce. Organizations must have people who will work together to bring out better products faster or deploy better processes in the workplace. Organizations need to provide talent with appropriate resources for innovation.

An organization must create (a) a constant learning environment that embraces positive challenge, (b) a fearless environment where people can communicate and collaborate with one another, (c) a diversified environment where people think differently and value each other's thinking, (d) new ways of looking at problems and opportunities and a strong sense of urgency, and (e) a culture that effectively leverages talent.

OBJECTIVE OF TOP-TALENT IN ORGANIZATION:

The objective of any private sector organization is to generate products or services and sell them to the clients. No matter is that whether the focus is on the best quality, lowest cost, or on taking both into consider. One important asset in optimizing and increasing the productivity will always is an organization's best people it's nothing but by top talent in the company. Irrespective of the economic situation in the company it remains important to be competitive by leveraging the benefits of effective Talent Management for the organization. Based on the efficient people the outcome of the company as well as stamina of the organization will increase. Effective Talent Management helps to increase the organizational efficiency and effectiveness and has a proven strong link to financial returns: e.g. in a study of high-performing companies across industries and geographies, those organizations with the top financial results were five times more likely to run mature career development processes than the bottom performers.

In business, it is just as racing, those who will go fastest have the combination of the fastest vehicle and the most talented driver. And the fastest vehicle was created by the talent management it is nothing but most talented group of designers, engineers, and fabricators, a winning mix of talented leaders and a strong cast of highly motivated, hard-working doers. The talented driver is the manager-leader who maintains the winning combination of continuous development and on-time obsolescence.

Talent Management in the organization scenario is about the:-

1. Filling positions in the organization with the right candidates it means that with knowledgeable and productive, where organization development will increase.

2. Promoting high potentials in order to increase their organizational impact on productivity.

3. Developing staff to increase their efficiency in their current role.

4. Increasing performance and consistently retaining the best employees.

Implementing Talent Management is simple but not that much easy! Talent Management requires a fine balance of cultural acceptance, processes, organizational structures and the right degree of system support

Culture: Talent Management requires acceptance and sponsorship from top management. Before even thinking about any first step, the top management need to buy into the idea and must be convinced that particular thought: Recognizing and promoting talent is worthwhile and has a positive bottom-line effect on the P+L

Professional development via the organization's personnel function is the confirm and surest way to establish independence, fairness, validity and acceptance throughout the organization Processes must be lived and adhered to by all levels. Building up trust requires time and effort, destroying trust long-term, however, is achieved very quickly.

Organizational appreciation of talent is required to establish a performance culture Fair promotion of talent creates reliability. The process must be transparent, equal and predictable Live the correlation between performance and potential on one side and payments and promotion on the other side

Processes: The system of different Talent Management processes must be consistent and coherently integrated. Each process must create transparency about the performance and potential across the organization. In order to reach that, it is necessary to embed the processes into the business context routine and to adhere to them. e.g. high potentials should be identified and assessed on an annual basis according to clear criteria, and be discussed and rated by management panels to increase cross-functional leveling and transparency.

Structure: Talent Management can only be sustained on a permanent basis, if an organization ensures the management of talents, which is independent of company politics between functions and hierarchical levels. The organization must be empowered to set guiding principles, to be the last authority to outvote individual management opinions based on objective assessments. This helps avoid crown princes, the appearance of the well-known Peter-principle or the advancement of an underperforming employee out into another function.

System: Talent Management is an integrated set of processes involving all employees, managers and functions. Dialogues need to happen, agreements need to be reached, decisions need to be approved and maintained. The right system support and ensures efficient process, reduces the administrative effort and increases the organizational acceptance.

Processes

Structure System

The high-leverage components usually require some needs of proactively, creativity, initiative and ingenuity. If efficient people in the management are not regularly monitoring at the high-end of their work in the jobs and being leveraged by the organization then the most of the talent will be wasted. A value-chain will connect the customers with the creators present in the management. The talent management will take care of the customers by supplying with value and they will accept the same from them again and again.

In the product-based organization to increase the value-chain then the management want to take into consider this below links for increase of profits and the customers for the product.

1. Creative ideas-it is developing based on the present situation in the outside that is nothing but customer's ideas. ultimately it is needed for increasing the production

2. Constructive criticism-it is nothing but estimating and planning the cost for the product and how much profit will be gain by the organization.

3. Concept development-after estimating has finish for the product then the development will design the concept in such way the product outcome will enable.

4. Testing and the Feedback-once the product has developed by the production department then it will send to testing for testing. if there is any problem has occurred and they will get the feedback report from them.

5. Finished Product-once the testing department has given the report then the company has ready to market the finished product.

6. Managing/Marketing-the organization will develop a marketing team for increasing the publicity related to the product and they will assign a particular managing team for that.

7. Sales-in this the company will undergo the selling of the product to the customers who has purchase the particular item and this will be manage by sales department which will under control top management.

8. Support/service-the organization will give assurance for the customers in the name of support and service for the product which they have been purchased.

9. Management systems/processes-the top level management will monitor the each and every step which is going in the organization. If there is any problem then the top level will manage and plan how to overcome from that issue.

How top talent is best recruited in the organization? Top-performing environments in the organization will attract the top talent for the company. The best talents flow to the best companies to work for. These performers may be influenced by colleagues, peers, and media polls; a lot of recruitment happens by word of mouth in every industry. Talents will seek creative freedom, expression, performance options, growth, and a supportive environment with capable owners, managers, coaches, cheerleaders, team members, and pay-for-performance systems. Talent is divided in different ways based on the organization type.

Teams-> Put top talent with other top talent members in the teams and give them challenging and meaningful work to do i.e., nothing but increasing of the production of the organization and satisfying the customers. Make sure this work is valued by the organization and its customers.

Special projects-> There is nothing quite like a special assignment, some "mission impossible" or high-priority project, it is for to bring out the best in talent. This will lead to a best product for the company and that will ultimately increase the profits.

Products-> Pour top talent into products that can be replicated and widely distributed. By creating new products and improving existing products, you gain immense leverage.

Distribution-> Seek wide distribution for the work of top talent. If the world-class work of your top talent is poorly promoted and distributed, you gain little leverage. Equally sharing of the knowledge with others employees who are present in the top-talent will develop the ideas.

Marketing/sales-> Leverage talent through marketing and sales events. This may mean featuring talents in ads or involving them in sales in some way. The sales and marketing department will play key role in increasing of the production for the organization.

Advertising/public relations->Even advertising based on the product is one of the talent related because it is one of the easiest way for attracting the customers to the product.Make your top talents bigger than life. Create an image and identity for them. Invest wisely in advertising and public and media relations to make a brand of the talents' names.

Mentoring/modelling/coaching-> Engage willing, mature talent in the high-leverage activities of mentoring, modelling, and coaching new talent. Increase the talent people in the organization by that the new ideas will develop that will make the future of the organization growth.

CASE STUDIES:

Case Study 1:

Six principles and key characteristics of CIO management in leading organizations:

1. Recognize the role of information management in creating value. An organization must recognize and accept the critical role information management plays in the success of an organization and the leadership role the CIO must assume in order to maximize the full potential of information technology.

2. Position the CIO for success. The CIO must be recognized as a full participant of the executive management team, and be given the technical and management skills to meet business needs.

3. Ensure the credibility of the CIO organization. Without credibility, the CIO organization will struggle. The CIO must have the commitment of line management; must accomplish quick, high-impact, visible successes balanced with longer-term strategies; and must learn from partnering with successful leaders in the external information management community.

4. Measure success and demonstrate results. Technical measures must be balanced with business measures, and managers must continually work to establish active feedback between performance measures and business processes.

5. Organize information resources to meet business needs. In order to execute its responsibilities reliably and efficiently, the CIO organization must have a clear understanding of its responsibilities in meeting business needs. The organization should be flexible enough to adapt to change.

6. Develop information management human capital. The CIO organization identifies the skills it needs to implement information management in line with business needs; develops innovative ways to attract and retain talent; and provides the training, tools, and methods IT professionals must have to effectively perform their duties.

Case Study 2:

Managing tomorrow's people: The future of work to 2020

As the world continues to evolve at breakneck speed, how will business be affected? Will large corporations turn into mini-states, taking on an ever-bigger role in society? Will the trend toward specialization foster the rise of collaborative networks? Will the environmental agenda force fundamental changes in business strategy?

We believe it is possible that all three worlds? Blue, Orange, and Green will co-exist in some form, perhaps delineated along geographical or industry lines. See how the interplay of the global forces individualism versus collectivism, corporate integration versus fragmentation affect tomorrow's business models.

CONCULSION:

Top-Talent is needed for every organization because based on the talented persons there will be innovative ideas which will lead the organization in good ones. Successful Talent Management implementations need to consider the cultural, process and organizational dimensions equally important to the actual system implementation.

Top Management needs to sponsor the initiatives in order to create a performance culture, Enable fair promotion of talents, and establish the correlation between performance and potential on one side and payments and promotion on the other side

The right Talent Management modules and the sequence of implementing them should be decided with clear business goals in mind, and be based on clear organizational criteria like process readiness.

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