TALENT MANAGEMENT

BA 509
Buket Akyel

What is Talent Management?

The purpose of TM is to ensure that the right supply of talented workforce is ready to realize the strategic goals of the organization both today and in the future

Organizations efforts to attract, select, develop, and retain key talented employees in key strategic positions. Talent anage ent includes a series of integrated systems of recruiting, perfor ance anage ent, a!i izing e ployee potential, anaging their strengths and developing retaining people with desired skills and aptitude

Talent Management

TM introduced by Mc "insey consultants, late #$$%s TM is identified as the critical success factor in corporate world TM focuses on differentiated perfor ance& A, B, ' players influencing co pany perfor ance and success identifying key positions in the organization

((( )urveys show that fir s recognize the i portance of talent anage ent but they lack the co petence re*uired to anage it effectively

What is Talent?
According to Mc"insey+ talent is the su of a persons abilities, his or her intrinsic gifts, skills, knowledge, e!perience , intelligence, ,udg ent, attitude, character, drive, his or her ability to learn and grow.

Who are Talented People?

They regularly de onstrate e!ceptional ability and achieve ent over a range of activities They have transferable high co petence They are high i pact people who can deal with co ple!ity -.obertson, Abbey /%%01

Why Organi ations Need Talent !e"elopment?

To co pete effectively in a co ple! and dyna ic environ ent to achieve sustainable growth To develop leaders for to orrow fro within an organization To a!i ize e ployee perfor ance as a uni*ue source of co petitive advantage To e power e ployees& 'ut down on high turnover rates .educe the cost of constantly hiring new people to train

Talent Management Model

#. /. 0.

There are different approaches to talent anage ent in organizations A successful TM odel has to link
TM creed -culture, values, e!pectations1 with TM strategy and TM syste . (Lance and Dorothy Berger, 2011) the desired culture and the business e!cellence

The values, e!pectations and ele ents of

should be e bedded in 2. syste s as selection criteria, co petency definitions, perfor ance and pro otion criteria and develop ent processes.

The Talent #reed

3A TM creed is the set of core principles, values and utual e!pectations that guide the behavior of an institution and its people4 5t describes in general ter s what types of people are e!pected to work in the organization and what type of a culture is desired to achieve success

The Talent $trategy

Describes what type of people the organization will in est in and how it will be done Besides the specific ele ents of their creed, the talent strategy of all high perfor ing organizations should have these directives& #1 5dentify key positions in the organization -not ore than /%, 0% 61 /1 Assess your e ployees and identify the high perfor ers -classify according to their current and future potential1 01 .etain key position backups 71 Make appropriate invest ents -select, train, develop, reward1

Assessing the Employees

Superkeepers- greatly e!ceed e!pectations -08961 Keepers e!ceed e!pectations -/% 61 Solid citizens- eet e!pectations -:9 61 Misfits- below e!pectations -/80 61

(Berger and Berger, 2011)

Allo%ating &n"estments in People

Superkeepers- receive about 9 6 of all the resouces+ need very
high recognition, co pensate pro ote very rapidly recognition, co pensate rapidly uch ore than the pay arket,

Keepers ;receive about /9 6 of all the resources, need high

ore than the pay

arket, pro ote

Solid citizens- receive about <= 6 of all the resources, need

recognition, co pensate at the co pensate at below arket level or ,ust above

Misfits- receive about / 6 of all the resources for so e,

arket average
(Berger and Berger, 2011)

Talent Management $ystem

5 ple entation progra of the talent strategy which has a set of processes and procedures -#1 assess ent tools -/1 ulti8rater assess ent -01 diagnostic tools -71 onitoring processes If the management is not willing to use assessment in their organizations they cant do talent management

Assessment Tools 'or TM

The five assess ent tools should be linked to ensure that each assess ent is consistent with the four other evaluations !ompetency "ssessment #erformance "ppraisal #otential $orecast %&ccession #lanning !areer #lanning

Multi-Rater Assessment

'mployee. The owner of the career plan that is aligned with the succession plan Boss. The pri ary assessor Boss(s boss. The key link in the vertical succession and career plan Boss(s peer gro&p. )ource of potential new assign ents in the sa e or other function

!iagnosti% Tools
%&perkeeperTM reser oir. )uperkeepersTM are e ployees whose perfor ance greatly e!ceeds e!pectations, who inspire others to greatly e!ceed e!pectations, and who e body institutional co petencies. )eeper )ey position back&ps. The 3insurance policies4 that ensure organization continuity. >very key position should have at least one backup at the 3"eeper4 -e!ceed ,ob e!pectations1 level. %&rpl&ses. ?ositions with ore than one replace ent for an incu bent. @hile ostensibly a positive result of the talent anage ent process, it can be a potential source of turnover and orale proble s if the replace ents are blocked by a non8pro otable incu bent andAor there is no realistic way ost of the pro otable replace ents can advance. *oids. ?ositions without a *ualified backup. Beter ine whether it will transfer so eone fro the surplus pool, develop alternative candidates, or recruit e!ternally. Blockages. Con8pro otable incu bents standing in the path of one or ore high8potential or pro otable e ployees. #roblem employees. Those not eeting ,ob e!pectations - easured achieve ent or co petency proficiency1. Dive opportunity to i prove, receive re edial action, or be ter inated. The ti e fra e should be no longer than si! onths.
(Lance and Dorothy Berger, 2011)

Monitoring Pro%esses
>valuate the results of talent on a regular basis for E *uality, E ti eliness and E credibility anage ent syste

What is %ompeten%y?
'o petencies are the core ele ents of talent anage ent practices
They are the de onstrable and easurable knowledge, skills, behaviors, personal characteristics that are associated with or predictive of e!cellent ,ob perfor ance. >!a ples

"daptability, teamwork, decision making, c&stomer orientation, leadership, inno ation etc+

Competencies and Definitions

Action Orientation Targets and achieve results,overco es obstacles, accepts responsibility, creates a results8oriented environ ent..... Interpersonal Skill >ffectively and productively engages with others and establishes trust, credibility, and confidence with the Creativity/Innovation Denerates novel ideas and develops or i proves e!isting and new syste s that challenge the status *uo, takes risks, and encourage innovation Team ork "nows when and how to attract, develop, reward, be part of, and utilize tea s to opti ize results. Acts to build trust, inspire enthusias , encourage others, and help resolve conflicts and develop consensus in supporting higperfor ance tea s
(Berger and Berger, 2011)

Why #ompeten%ies?
,he challenge is to identify which competencies the organization e-pects to see in their people ,he starting point of the model is the creed ( al&es, principles, e-pectations) and the b&siness strategies

Through a co petency odel the organization sends a consistent essage to the workforce about 3what it takes4 to be successful in the ,ob 2elps e ployees understand what helps drive successful perfor ance The 'o petency Model approach focuses on the 32ow4 of the ,ob. 'o petency odel is behavioral rather than functional, focuses on the people rather than ,obs 'o petency odels are outco e driven rather than activities -Fob descriptions focus on activities, co petencies focus on outco es1 5ntegrates 2. strategy with business strategy ;both focus on outco es

Why #ompeten%ies?
The co petency odel serves as the foundation upon which all workforce processes are built.
'o petencies pro ote align ent of talent anage ent syste s by creating a co on language that enables these syste s to talk with each other( That is, results of one TM syste is used as the input data for the following TM syste .

The #ompeten%y Model

The 'o petency Model identifies usually three groups of co petencies&

'ore co petencies for the entire organization to shape the organizational capabilities and culture re*uired to achieve the strategic goals-9 or <1 Geadership co petencies for the anage ent tea s of various levels for selection, career planning and develop ent Hunctional -technical1co petencies -specific for each ,ob fa ily1

!e"eloping a #ompeten%y Model

Ise co only available 3ready to use4 odels with s all ad,ust ents for your organization Bevelop own co petency consultants odel with help of

Behavioral Bench arking co pare superior perfor ers with other best people in the organization and in other bench ark co panies

!e"eloping Organi ation(s O)n #ompeten%y Model

Overview of current tasks and responsibilities 'o e to agree ent about what successful 3outco e driven4 perfor ance looks like .eview of co petency library and selection of 3 ust haves4 for the position .ank top co petencies as de onstrated by e!e plary -superior1 perfor ers 5dentify of those co petencies that align with the vision, ission and strategic plan of the organization Jerify the co petencies with a larger sa ple of the organization

#hoosing #ompeten%ies
Before choosing co petencies in an organization following re*uire ents ust have been co pleted& >stablish ent of vision, ission, values )trategic business goals 5dentification of the tasks, responsibilities and outco es e!pected fro each position 5dentification of the superior -e!e plary1 perfor ers )atisfactory co petency library

Talent Management
TA!"#T$COM%"T"#C"&COMMITM"#T&CO#T'I()TIO#
Being co petent is not only enough to be a talent The co petent person should be co itted to the causes and goals of the organization And should be able and willing to contribute to the success of the organization )o, developing your talent is not enough, the organizations need to take all the easures to otivate, reward their talent pool to gain their co it ent and contribution. .etention is also essential to gaurantee future align ent of the talent with the right key positions

Talent Management Model

Talent Management Model

>!pectations for the future. Businesses should identify Fob roles )pesific ob,ectives 'o petencies 'apabilities to eet the e!pectations @ork environ ent Managerial support .ewards and recognition .e oving barriers Heedback syste s needed to Hocus To keep on track Bevelop

Talent Management #y%le

Talent Management Process

Organization Analysis -Job descriptions -Job spesifications

Analysis
Potential Candidates

Performance Evaluation Buss. Results Personal Development Activities

Assessing the Emloyees

'

l oo T t en m ss e s As

Assessment
Career Committees Potancial Candidates and Succession ists

Approval of the ists

Development
!alent Development Programs

January - March

April

May on......

$tr*%t*re o' a Talent Management Program

Building Block #& 5dentification and assess ent of co petencies Building Block /& ?erfor ance appraisals Building Block 0& )uccession and career planning Bevelop ent of talent -coaching, entoring, training1 Ginking co pensation with the progra -reward and otivate1 Targeting culture as an i portant driver of TM progra s )ecure senior e!ecutives co it ent to ake the talent anage ent odel work >valuate the results of talent anage ent syste on a regular basis

&ntegrated +*n%tions o' TM

?erfor ance appraisals, assess ents of potential, co petency evaluations, career planning, and replace ent planning -the core ele ents of talent anage ent1 should be linked to each other. )tand alone functions are destined to end with failure

,- and TM
*)MA# '"SO)'C"S MA#A+"M"#T Broad )cope -entire e ployees1 o > phasize egalitarianis oHocus on ad inistrative functions oTransactional oHocus on syste s with silo approach
o

TA!"#T MA#A+"M"#T
oHocus

on seg entation -key group of core e ployees and key positions1 o Hocus on potential people oHocus on the attraction, develop ent and retention of talent oHocus on integratation of 2. syste s

#lass)or. and/or ,ome)or.

?repare a list of 9 co petencies for your own position. >!plain why you choose these co petencies and what do they include behaviorallyK