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Execution-MiH ENCYCLOPEDIA →
Functional Management →
SECTION - Human Resources Management →
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CHAPTER -
| Talent Management |
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Talent Management essentially works on how an organization identifies, nurtures and deploys talent to deepen the depth of human capablities & skills and get the best possible readiness to meet the current & future needs.
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Topics
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Key Talent Identification by combining potential+ performance
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Good performance generally indicates the presence of good potential as well. Good potential is important for internal development of talent. All organizations must develop talent internally to supplement the existing leadership talent pool.
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Promotable-High Potential-Close watch
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Candidates in the Talent Development Program can be classified into three categories based upon their status of readiness. These categories are called: Promotable, High-Potential and Close Watch. The promotables and high-potentials are the succession pipeline available to the organization at any given moment.
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Period of Readiness
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Period of readiness refers to the amount of time left for a candidate in the Talent Development Program to be fully ready for the role that he/she is being groomed for. This varies from individual to individual and the employee with the shortest period of readiness is the best candidate at any given moment.
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Succession planning linked to Talent Management
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The Talent Management System assesses, filters and provides the pool of candidates which can be considered for succession planning exercise. Succession planning is an application of the Talent Management System.
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Mentoring Program
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A mentoring program is essential to build the leadership pipeline in the organization. This generally is conducted in a mentor-mentee format and both benefit from this engagement.
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Formal Skill Inventory
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It is important for any organization to be in knowledge of the actual number and kinds of skills and competencies it has in it’s employees at any given point of time. It is an assessment exercise that must happen periodically so that the organization can chart out it’s long term strategy.
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Inside Job Posting
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Advertising a vacancy which has arisen or has been created to the community of existing employees is called Inside Job Posting. It is the preferred mode of recruitment for most of the positions. Existing employees must be given a chance at the position before an external search is made.
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Job-Rotation Goals
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Managers and team-leaders must have job-rotation of their team-members as goals. This is important to build talent width and a back-up pipeline for the unit as a whole. In fact, it supports team-work by sensitizing team-members to other job-roles.
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Talent Development Track
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All employees with good potential as identified by the Talent Management System are put through special learning and development programs to hone and develop themselves for eventual succession to identified positions. This series of programs is called the Talent Development Track.
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Leadership Team Health-Check (Color tagging for adequate/less than adequate)
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Leadership team health check is an exercise which assesses the back-up plan for attrition in the community of key senior positions. This is done in a structured and detailed manner together with the fall-back plans for “risky†positions.
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All Chapters in "Human Resources Management." Section
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