Knowledge Management and Talent Management

Submitted By :
Vineet S.K. Nitika Arora

KNOWLEDGE MANAGEMENT

 Knowledge management (KM) comprises a range of

strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Knowledge Management is any process or practice of creating, acquiring, capturing, sharing and using knowledge. Concerned with both stocks and flows of Knowledge.

PURPOSE
Transfer knowledge from those who have it to those who need it to improve organisational effectiveness. To enhance knowledge processing

HISTORY
In 1999, the term personal knowledge management was introduced which refers to the management of knowledge at the individual level (Wright 2005). In terms of the enterprise, early collections of case studies recognized the importance of knowledge management dimensions of strategy, process, and measurement (Morey, Maybury & Thuraisingham 2002).

SOURCES & TYPES

Ikujiro Nonaka proposed a model (SECI for Socialization, Externalization, Combination, Internalization) which considers a spiraling knowledge process interaction between explicit knowledge and tacit knowledge (Nonaka & Takeuchi 1995)

PROCESS
The process of knowledge management consists of four process:
Knowledge Creation/Generation Knowledge Codification Knowledge Application Knowledge Transfer

KNOWLEDGE MANAGEMENT STRATEGIES

Hansen has given two approaches for knowledge : Codification strategy: knowledge is carefully codified and stored in databanks , for easy access and usage. Knowledge is explicit and is codified using a people to document strategy. Personalization strategy: knowledge is tied carefully to the person who developed it and is shared mainly through direct person to person contacts. This is person to person approach.

CASE STUDY KNOWLEDGE MANAGEMENT CASE 1

A major Australian-based bank with global operations recognised the opportunity to be more effective in its product support services provided through its call centre. PROBLEM : Call centre consultants relied on paper-based procedures, product support material and investment price listings. None of these information sources were managed in a way to ensure accuracy and currency of content and consultants were forced to sift through documentation to find relevant material. Poor impression of services provided to customers & liability for provision of incorrect information to clients. SOLUTION : A knowledge-based approach was adopted. A four person project team conducted investigations over an 8-week period.

CASE STUDY KNOWLEDGE MANAGEMENT CASE 1

Knowledge blueprint was developed. This blueprint developed a knowledge taxonomy determining what knowledge was needed, from where it was sourced and in what form it was presented. Most appropriate improvement opportunities to make this material available were determined. A total of 35 improvement opportunities were identified and the net present values (NPV)for proceeding were developed. Finally, an implementation plan based on the priorities identified in the business cases was developed. For Eg : Customer Service

CASE STUDY KNOWLEDGE MANAGEMENT CASE 1

RESULTS: A total of 35 improvement opportunities were identified at a NPV of $5,700,000. Total cost of implementation was $2,800,000, which would create benefits in the order of $8,000,000. return on investment of 286%. $1,600,000 was identified as those initiatives that could be implemented within 4 weeks at minimal cost.

CASE STUDY KNOWLEDGE MANAGEMENT CASE 1

RESULTS: Implementation was commenced to create benefits over a 12month time frame. Technical solutions were enabled to facilitate internal delivery & strategically position the organisation to participate in web-based customer service and contact.

Talent Management

What is Talent?
It consists of those individuals who can make difference to organizational performance, either through their immediate contribution or in the longer term by demonstrating the highest levels of potential.

Definition
Talent Management is defined as the process of identifying, developing, recruitment, retaining and deploying talented people.

Value of Talent
Research shows that an outstanding performer delivers 4 to 6 times more than average Selecting and developing just one outstanding performer has a huge impact on overall performance

Value of Talent
Identifying what differentiates outstanding performers from average can be used to : Coach and develop less effective performer Inform the succession planning process Massively leverages organization performance

The Process of Talent Management

The Process of Talent Management

The elements of Talent Management The Resourcing Strategy

Attraction and retention policies and programmes

Talent audit Role

The Process of Talent Management

Talent relationship management Performance Management Learning and Development

Career Management

Talent Management Cycle

Developing a Talent Management Strategy

Defining who the talent management programme should cover Defining what is meant by talent in terms of competencies and potential Defining the future talent requirements of the organization Developing the organization as an employer of choice

Developing a Talent Management Strategy

Using selection and recruitment procedures that ensure good quality people are recruited Designing jobs and developing roles that give people opportunities to apply and grow their skills Providing talented staff with opportunities for career development and growth Creating a supportive working environment Providing scope for achieving work life balance

Developing a Talent Management Strategy

Developing a positive psychological contract Developing a positive leadership qualities of line managers Recognizing those with talent Conducting talent audits Introducing management succession planning procedures

Talent Management-Case Study

Result : The Predictive Index has made a measurable difference for DataSys. Revenues have increased by 21% within one year, with no resultant increase in salary costs. Turnover has decreased markedly.

Talent Management-Case Study

Result : Lisa adapted her own style in response to the natural behaviors and drives of her colleagues. Lisa also rearranged job responsibilities for several team members so they could be more successful. Lisa sees a new level of success with team development as well.