
Over the past several years, Talent Journey’s goal has been to provide insightful leadership articles pertaining to strategic and operational aspects of your business. We often focus on the management of human resources – including leaders, teams and the workforce. The broad process of managing human resources within an organization is called Talent Management. Just as your IT system organizes all the computer related technology within an organization, a comprehensive Talent Management System manages and integrates all of the human resource (talent) related components of your business. A well-designed Talent Management System provides the infrastructure used to optimize your investment in your people. It is a key component of any successful organization.
What is a Talent Management System?
A talent management system incorporates all the important aspects of building, managing and equipping your workforce to achieve your strategic mission. The important components of this talent management system include: selection, on-boarding, performance management, engaging and developing, career advancement and succession planning. In this article, we aim to demonstrate the power of an integrated talent management system to support your strategic initiatives, align your talent management initiatives and foster your employee/customer satisfaction.
First Step
The first step in creating an integrated talent management system, as highlighted in last month’s Talent Journey newsletter, is understanding and identifying core competencies that are required for each unique job. Core competencies are the skills and behaviors required to be effective in the context of that specific job and your organizational culture. They also reflect the needs driven from your business strategy. The exercise in determining core competencies is fundamental to the success of your talent management system from the point of hire through succession planning.
Once you’ve identified the core competencies required for success, the talent management system’s objective is to align, engage and develop those core competencies in your job candidates and internal team members. In this article, we will define the role of the leader in each phase of the Talent Management System.
Selection
In the stage of selecting and hiring, your role as a leader is to ensure that you have thoroughly vetted your candidates against the technical and soft skill requirements required for the role. In addition to fulfilling the requirements of the job, smart leaders analyze their team’s strengths and may choose a new hire partially based upon team gaps/composition in meeting strategic goals. Finally, it is important to incorporate the “fit” candidates have with the values and expectations of your organizational culture. Tools to guide the interviewing process and assessment instruments help identify and vet candidates.
On-Boarding
The role of a leader at this stage is to acclimate the new employee as quickly as possible into the organization or department. We cannot underestimate the importance of clearly depicting the vision, mission and culture of your organization with new employees. Each organization operates, like a family, in its own unique way. Additionally, each new employee brings a unique set of strengths and abilities, knowledge, values and experience that the organization will want to incorporate as quickly as possible in order to leverage those attributes and increase the productivity of the organization. It is critical to invest the time upfront with new employees, ensuring a successful on boarding experience for both the employee and the organization. A thorough and effective new employee orientation and using assessments to facilitate communication of the strengths and abilities of new employees are helpful tools in this stage.
Performance Management, Engaging and Developing
The role of a leader at these stages is to ensure that the natural strengths and abilities of each person are leveraged to the highest potential. A leader’s skill in maximizing talent, both individually and within the team, predicts success in retention, performance, and organizational momentum. The leader must have the tools and wisdom to actively identify, utilize and develop the talents of their people. The core competencies identified in the first step of an integrated talent management system are used in these later phases to evaluate (performance management) and develop (skills and career) employees on the team. Properly designed performance management evaluations, 360° feedback instruments, and an organizational training program rooted in the pre-determined core competencies are helpful tools at this stage.
Career Advancement and Succession Planning
Finally, the role of a leader in career advancement and succession planning is to align the potential of individuals with future opportunities that exist within the organization. Most organizations today are concerned about their leadership bench. The economic downfall, reduction of the workforce and other high-priority initiatives have stifled leadership development over the last few years. Organizations are feeling the squeeze in this area and know they need to bridge the gap. A first step is to assess the leadership competencies necessary for future strategic success against the existing talent potential within the organization. Organizations now need to allocate resources to develop high potential internal candidates or put aside dollars to recruit outside the organization where internal gaps exist. Workforce planning tools, assessment tools and high potential programs will be helpful at this stage.
In summary, high performance organizations are founded upon an integrated and well-managed talent management system. This system is powered by the core competencies that will fuel achievement of the strategic mission. Like a thread through fine fabric, a talent management system weaves crucial core competencies through your selection, on-boarding, performance management, engagement and development, career advancement and succession planning processes. Invested in appropriately and used consistently, this integrated system clothes your organization with human resource efficiencies, effectiveness and productivity. The successful implementation of strategy depends upon an organization’s ability to deploy their Talent Management System effectively. It is the people that bring strategy to life!
Worldwide Copyright TJ Associates, LLC Diane Brown
Over the years, we have included articles specific to each one of these components – we invite you to visit our website at www.thetalentjourney.com/newsletter to view any of these in full:
Selection: April 2010; August 2010
On boarding: November 2009
Performance management: October 2009; February 2010
Engage and Develop: January 2010; July 2010
Career advancement and succession planning: March 2010