Professional Documents
Culture Documents
MANAGEMENT
Prepared for: Assoc. Prof. Dr. Roshidi Hassan Prepared by: Fahdilah bt Nadzri 2013241154 BM7001DF
Peter F. Drucker
What Is Talent?
According to Morton (2005), talent refers to individuals who have the capability to make a significant difference to the current and future performance of the company.
Micheals (2001) define talent as sum of a persons abilities his or her intrinsic gifts, skills, knowledge, experience, intelligence, judgment, attitudes, character and drive includes ability to learn and grow.
Considered as a complex combination of skills, knowledge, cognitive ability, and potential employee (Moghadam, Beheshtifar (2011)
Talent consists of those individuals who can make a difference to organizational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential (CIPD, 2013)
Amstrong (2010)
Use of an integrated set of activities to ensure that the organization attracts, retains, motives and develops the talented people it needs now and in the future
Deb (2009)
Strategic process of acquiring, integrating, developing, rewarding, and retaining personnel with desired competencies and potential to man key leadership positions in conjunction with goals and objectives of the organization in order to attain and/or sustain its competitive advantage
Shukla (2009)
Referred to as Human Capital Management, is the process recruiting, managing, assessing, developing and maintaining an organizations most important resource its people
A set of business-focused organizational process designed to attract, manage, develop, motivate and retain key people
My own definition
Process of attract, develop, manage and retain the talented people in organization for current and future growth
Generational Changes
Changes in the demographic composition of the workforce have increased the need to manage talent effectively (Frank & Taylor, 2004). Domination market of generation X and Y ((Busine & Watt, 2005)
Business Success
Effective talent management practices can create enduring competitive advantage. 86% of global business executives believe that talent is the greatest contributor to their companys profits (McKinsey, 2005)
Objectives of Talent Management According to Deb (2009) and Oracle Corporation (2012),
objectives of talent management are:
To ensure that line manager and HR department determine which jobs, when filled with top talent, have the largest impact on the organizations success
To identify, network, acquire, retain and develop the best talent no matter where is it
To recognize different types of talent required in the organization depending on changing business scenarios
To build cooperation and integration between various people related activities and strategic objectives through heavy use of common goals, metrics and rewards.
to promote internal growth based on the organizations needs and opportunities to build effective succession plans to identify individuals with strong potential and support them in pursuing their careers successfully
Step 2
4 Step Process
Gap analysis including competencies assessment
Step 4
Motivation and retention
Step 3
Training and development
Source: Glen, (2006) "Key skills retention and motivation: the war for talent still rages and retention is the high ground", Industrial and Commercial Training, Vol. 38 Iss: 1, pp.37 - 45
Talent Acquisition
Talent Deployment
Talent Retention
Develop key retention strategies Make retention plans and program visible, both within and outside organization
Identify needs, aspirations, interests, skill and competencies of high caliber employees
Sources: Kumudha, & Senthilkumar. (2011). Talent Management: The Key to Organizational Success. Industrial Engineering Letters , 1 (2), 2-14.
Strategies to Overcome Offering a higher total rewards package than competitors (SHRM, 2012)
My suggestion to overcome Providing flexible work arrangement Provide non financial incentives according to employees interest Encouraging employees to make decisions and take risks Give opportunities to highly potential employees to manage big project.
Creating a corporate culture that attracts the best employees to the organization (SHRM, 2012)
Maintaining a culture of Give employees trust, open opportunity to communication and influence company fairness (SHRM, 2010) decision Listen to the employees opinion and suggestion
Providing meaningful Provide clear job work with clear purpose description about their in meeting tasks, duties, and organizations responsibilities. objectives (SHRM, 2010)
Leadership
Performance
Compensation
RECRUITMENT
Obtain a sufficient number of qualified people at the right place and time (Kirby, Park, Su, Joung & Steven, 2013)
Identify what talent is organization seek and fit well in team (Stan, 2012)
Must having knowledge of capability gaps informs strategic recruitment decisions to maintain competitive advantage (Carris, 2008)
Needs assessment to determine the current and future human resource requirements of the organization (Richardson, 2012)
Based on Davis and Combs (2010), Peacocke (2006), Technical expert : Technical training Helps employees perform the unique aspect of specialize or skilled work and apply specific tools, equipment and process to the work.
PERFORMANCE
Reduce turnover rate (Rana & Abbasi, 2013) Enhancing individual and team performance (Atkinson & Shaw, 2006) Ensuring greater ROI through people Identify skill gaps and build plans to develop high-potential employees Identify top performers as model for candidates for future positions.
COMPENSATION
According to ADP Inc. (2012), Improve compensation fairness Provide incentives for the future Allocate compensation to high impact positions Align compensation with performance
According to Otis (2011) and Mayhew (2013) what they do: 1. Reward : Bonuses and Cash Incentive, Promotion, Recognition 2. Salary : Salary Benchmarking 3. Benefits : Retirement Saving, Health Benefits Plan
LEADERSHIP
Develop high potential leadership (Jacobson, 2010) Identify leadership competencies, knowledge and experience and personal attributes (Wilkins & Snell, 2010)
SUCCESSION PLANNING
Based on Cannon and McGee (2011) Ensure that organization operate effectively when individual occupying critical positions in department. Align bench strength for replacing critical positions. Employ high-potential individual for different leading post in organization. Allow employees to have opportunities to step forward in their career path.
RETENTION
Provide conducive working atmosphere to ensure employee retain in organization (Iles, Chuai & Preece, 2007) Maintain good relationship between managers and employees (wagner, 2006) Maintain the leadership commitment in organization (Ahmadi & Abbaspalangi, 2012)
Perfection increase
Employees
Recruitment
Retention
Employee Development Leadership and High Potential Employee Development Performance Management Workforce planning Culture
More effective succession planning for key positions and sufficient internal sources for recruitment
Talented employees will be staffed at suitable positions and their talent will be used effectively
The 9-box matrix model combines actual performance and predicted potential.
9 grid box outcomes Identify leadership pipeline Indentify turnover risks Identify employees with the potential to provide development assignment Make improve or remove decision about employees and leaders whose skills are out of date.
Know what factors contribute to difficulties in attraction and retention Keep various retention factors in balance Market the company and its brand to current employees as vigorously as to the outside talent pool.
CDW Corporation