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The Essentials of Talent Management

The Essentials of Talent Management. Talent Management: What is it? . Alignment of employees with business priorities to deliver greater performance and results Keeping “the end in mind”: performance management, competency, leadership development, and succession planning

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The Essentials of Talent Management

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  1. The Essentials of Talent Management

  2. Talent Management: What is it? • Alignment of employees with business priorities to deliver greater performance and results • Keeping “the end in mind”: performance management, competency, leadership development, and succession planning • As agencies strive to meet strategic goals, they must ensure that they have a continuous process for recruiting, training, managing, supporting, and compensating their employees

  3. What’s Driving the Current Emphasis on Talent Management? • The context in which we do business is more complex and more competitive • Employee expectations are changing with a desire for work-life balance and meaningful jobs • “The War on Talent”: workforce demographics are evolving as retirees leave • Emerging technologies are changing the employee competencies needed in organizations

  4. Evolution of Talent Management • Personnel Department – 1970s-80s role of HR served more of a business function in hiring people, paying them, and making sure they had necessary benefits. • Strategic HR – 1980s-90s HR had larger role of a business partner reaching out to support lines in recruiting, training, and communicating for employees. • Talent Management – Today’s HR functions are becoming integrated with the business with a focus on management processes.

  5. Evolution of Talent Management Ed Michaels, Helen Handfield – Jones, Beth Axelrod, The War for Talent, 2001.

  6. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004.

  7. A Focus on Key Talent Issues Rather than focusing just on recruiting and retaining talent, talent savvy organizations support their employees on issues they care about most: • Doing work that engages them • Encountering fresh challenges • The number one reason employees leave comes down to their relationship with their boss; therefore, organizations should focus on examining the deployment and development of the supervisors tasked with leading others Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  8. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004.

  9. Recruiting Employees • Be proactive, not just reactive • Focus on Strategic Recruitment • Include Generational Recruitment

  10. The Process of Talent Management Deploy Recruit Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation

  11. Deploying Employees • “Deploy”: Working with key individuals to identify their interests, find their best fit in the organization, and craft the job design and conditions that help them to perform • Deployment is about matching the correct employee to a critical job or project Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  12. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation

  13. Deploying Employees:Compensation • Consider a compensation plan • Key positions should have a career plan • Supervisors and employees should communicate and foster the employee’s individual career goals, including compensation as a component

  14. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation

  15. Deploying Employees: Performance Management • Deployment does not stop once employees are assigned to a specific job • Agencies must continuously focus on their critical talent to ensure that their skills, interests, and capabilities evolve in line with strategic objectives Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  16. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation

  17. Developing Employees: Learning • “Develop”: Providing real-life learning employees need to master a job. Experiences that stretch their capabilities and the lessons they learn from those experiences are important. • Rather than push more information through training, it is more important that they “learn how to learn” Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  18. The Process of Talent Management Recruit Deploy Develop Retain Compensation Learning Succession Plan Performance Assessment and Evaluation

  19. Develop Employees: Succession Planning • In a recent poll, 67% of employees said they learned the most in situations where they were working together with a colleague on a task • “Peer assist programs” such as mentoring and coaching are important aspects of succession planning Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  20. The Process of Talent Management Retain Recruit Deploy Develop Compensation Learning Succession Plan Performance Assessment and Evaluation

  21. Retaining Employees • The average cost to replace an employee is one and half times her average salary. New candidates can take a year or more to master their jobs. • Common retention approaches look at turnover rates, but turnover does not measure people’s commitment to a company. When jobs are scarce, it is easy to retain a non-committed workforce. Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  22. The Process of Talent Management Retain Recruit Deploy Develop Compensation Learning Succession Plan Performance Assessment and Evaluation

  23. Assessment and Evaluation:How Do You Identify Your Critical Talent? Critical talent are the people who create the value an organization needs to succeed. • Which strategies, skills, and capabilities are crucial to your current and future success? • What emerging workforce trends will impact your ability to deliver value? • Who possesses the greatest current and future potential? Wall, James and Ainar Aijala. “It’s 2008: Do You Know Where your Talent Is?” Deloitte Research Series, 2004

  24. HR Spring Forum’s Talent Management Series Recruitment – Acquiring Talent Deployment- Compensation and Performance Management Development – Learning and Succession Planning Retention– Engaging Employees Assessment and Evaluation – HR Metrics

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