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TALENTMANAGEMENTBA509 BuketAkyel WhatisTalentManagement ThepurposeofTMistoensurethattherightsupplyoftalentedworkforceisreadytorealizethestrategicgoalsoftheorganizationbothtodayandinthefutureOrganization seffortstoattract select develop andretainkeytalentedemployeesinkeystrategicpositions Talentmanagementincludesaseriesofintegratedsystemsofrecruiting performancemanagement maximizingemployeepotential managingtheirstrengthsanddevelopingretainingpeoplewithdesiredskillsandaptitude TalentManagement TMintroducedbyMcKinseyconsultants late1990 sTMisidentifiedasthecriticalsuccessfactorincorporateworldTMfocusesondifferentiatedperformance A B Cplayersinfluencingcompanyperformanceandsuccessidentifyingkeypositionsintheorganization Surveysshowthatfirmsrecognizetheimportanceoftalentmanagementbuttheylackthecompetencerequiredtomanageiteffectively WhatisTalent AccordingtoMcKinsey talentisthesumofaperson sabilities hisorherintrinsicgifts skills knowledge experience intelligence judgment attitude character drive hisorherabilitytolearnandgrow WhoareTalentedPeople TheyregularlydemonstrateexceptionalabilityandachievementoverarangeofactivitiesTheyhavetransferablehighcompetenceTheyarehighimpactpeoplewhocandealwithcomplexity Robertson Abbey2003 WhyOrganizationsNeedTalentDevelopment TocompeteeffectivelyinacomplexanddynamicenvironmenttoachievesustainablegrowthTodevelopleadersfortomorrowfromwithinanorganizationTomaximizeemployeeperformanceasauniquesourceofcompetitiveadvantageToempoweremployees CutdownonhighturnoverratesReducethecostofconstantlyhiringnewpeopletotrain TalentManagementModel TherearedifferentapproachestotalentmanagementinorganizationsAsuccessfulTMmodelhastolinkTMcreed culture values expectations withTMstrategyandTMsystem LanceandDorothyBerger 2011 Thevalues expectationsandelementsofthedesiredcultureandthebusinessexcellenceshouldbeembeddedinHRsystemsasselectioncriteria competencydefinitions performanceandpromotioncriteriaanddevelopmentprocesses TheTalentCreed ATMcreedisthesetofcoreprinciples valuesandmutualexpectationsthatguidethebehaviorofaninstitutionanditspeople Itdescribesingeneraltermswhattypesofpeopleareexpectedtoworkintheorganizationandwhattypeofacultureisdesiredtoachievesuccess TheTalentStrategy DescribeswhattypeofpeopletheorganizationwillinvestinandhowitwillbedoneBesidesthespecificelementsoftheircreed thetalentstrategyofallhighperformingorganizationsshouldhavethesedirectives Identifykeypositionsintheorganization notmorethan20 30 Assessyouremployeesandidentifythehighperformers classifyaccordingtotheircurrentandfuturepotential RetainkeypositionbackupsMakeappropriateinvestments select train develop reward AssessingtheEmployees Superkeepers greatlyexceedexpectations 3 5 Keepers exceedexpectations 20 Solidcitizens meetexpectations 75 Misfits belowexpectations 2 3 BergerandBerger 2011 AllocatingInvestmentsinPeople Superkeepers receiveabout5 ofalltheresouces needveryhighrecognition compensatemuchmorethanthepaymarket promoteveryrapidlyKeepers receiveabout25 ofalltheresources needhighrecognition compensatemorethanthepaymarket promoterapidlySolidcitizens receiveabout68 ofalltheresources needrecognition compensateatthemarketlevelorjustaboveMisfits receiveabout2 ofalltheresourcesforsome compensateatbelowmarketaverage BergerandBerger 2011 TalentManagementSystem Implementationprogramofthetalentstrategywhichhasasetofprocessesandprocedures 1 assessmenttools 2 multi raterassessment 3 diagnostictools 4 monitoringprocessesIfthemanagementisnotwillingtouseassessmentintheirorganizationstheycan tdotalentmanagement AssessmentToolsforTM ThefiveassessmenttoolsshouldbelinkedtoensurethateachassessmentisconsistentwiththefourotherevaluationsCompetencyAssessmentPerformanceAppraisalPotentialForecastSuccessionPlanningCareerPlanning Multi RaterAssessment Employee TheownerofthecareerplanthatisalignedwiththesuccessionplanBoss TheprimaryassessorBoss sboss ThekeylinkintheverticalsuccessionandcareerplanBoss speergroup Sourceofpotentialnewassignmentsinthesameorotherfunction DiagnosticTools SuperkeeperTMreservoir SuperkeepersTMareemployeeswhoseperformancegreatlyexceedsexpectations whoinspireotherstogreatlyexceedexpectations andwhoembodyinstitutionalcompetencies KeeperKeypositionbackups The insurancepolicies thatensureorganizationcontinuity Everykeypositionshouldhaveatleastonebackupatthe Keeper exceedjobexpectations level Surpluses Positionswithmorethanonereplacementforanincumbent Whileostensiblyapositiveresultofthetalentmanagementprocess itcanbeapotentialsourceofturnoverandmoraleproblemsifthereplacementsareblockedbyanon promotableincumbentand orthereisnorealisticwaymostofthepromotablereplacementscanadvance Voids Positionswithoutaqualifiedbackup Determinewhetheritwilltransfersomeonefromthesurpluspool developalternativecandidates orrecruitexternally Blockages Non promotableincumbentsstandinginthepathofoneormorehigh potentialorpromotableemployees Problememployees Thosenotmeetingjobexpectations measuredachievementorcompetencyproficiency Giveopportunitytoimprove receiveremedialaction orbeterminated Thetimeframeshouldbenolongerthansixmonths LanceandDorothyBerger 2011 MonitoringProcesses Evaluatetheresultsoftalentmanagementsystemonaregularbasisforquality timelinessandcredibility Whatiscompetency CompetenciesarethecoreelementsoftalentmanagementpracticesTheyarethedemonstrableandmeasurableknowledge skills behaviors personalcharacteristicsthatareassociatedwithorpredictiveofexcellentjobperformance ExamplesAdaptability teamwork decisionmaking customerorientation leadership innovationetc CompetenciesandDefinitions ActionOrientationTargetsandachieveresults overcomesobstacles acceptsresponsibility createsaresults orientedenvironment InterpersonalSkillEffectivelyandproductivelyengageswithothersandestablishestrust credibility andconfidencewiththemCreativity InnovationGeneratesnovelideasanddevelopsorimprovesexistingandnewsystemsthatchallengethestatusquo takesrisks andencourageinnovationTeamworkKnowswhenandhowtoattract develop reward bepartof andutilizeteamstooptimizeresults Actstobuildtrust inspireenthusiasm encourageothers andhelpresolveconflictsanddevelopconsensusinsupportinghigperformanceteams BergerandBerger 2011 WhyCompetencies ThechallengeistoidentifywhichcompetenciestheorganizationexpectstoseeintheirpeopleThestartingpointofthemodelisthecreed values principles expectations andthebusinessstrategiesThroughacompetencymodeltheorganizationsendsaconsistentmessagetotheworkforceabout whatittakes tobesuccessfulinthejobHelpsemployeesunderstandwhathelpsdrivesuccessfulperformanceTheCompetencyModelapproachfocusesonthe How ofthejob Competencymodelisbehavioralratherthanfunctional focusesonthepeopleratherthanjobsCompetencymodelsareoutcomedrivenratherthanactivities Jobdescriptionsfocusonactivities competenciesfocusonoutcomes IntegratesHRstrategywithbusinessstrategy bothfocusonoutcomes WhyCompetencies Thecompetencymodelservesasthefoundationuponwhichallworkforceprocessesarebuilt Competenciespromotealignmentoftalentmanagementsystemsbycreatingacommonlanguagethatenablesthesesystemstotalkwitheachother Thatis resultsofoneTMsystemisusedastheinputdataforthefollowingTMsystem TheCompetencyModel TheCompetencyModelidentifiesusuallythreegroupsofcompetencies Corecompetenciesfortheentireorganizationtoshapetheorganizationalcapabilitiesandculturerequiredtoachievethestrategicgoals 5or6 Leadershipcompetenciesforthemanagementteamsofvariouslevelsforselection careerplanninganddevelopmentFunctional technical competencies specificforeachjobfamily DevelopingaCompetencyModel Usecommonlyavailable readytouse modelswithsmalladjustmentsforyourorganizationDevelopowncompetencymodelwithhelpofconsultantsBehavioralBenchmarkingcomparesuperiorperformerswithotherbestpeopleintheorganizationandinotherbenchmarkcompanies DevelopingOrganization sOwnCompetencyModel OverviewofcurrenttasksandresponsibilitiesCometoagreementaboutwhatsuccessful outcomedriven performancelookslikeReviewofcompetencylibraryandselectionof musthaves forthepositionRanktopcompetenciesasdemonstratedbyexemplary superior performersIdentifyofthosecompetenciesthatalignwiththevision missionandstrategicplanoftheorganizationVerifythecompetencieswithalargersampleoftheorganization ChoosingCompetencies Beforechoosingcompetenciesinanorganizationfollowingrequirementsmusthavebeencompleted Establishmentofvision mission valuesStrategicbusinessgoalsIdentificationofthetasks responsibilitiesandoutcomesexpectedfromeachpositionIdentificationofthesuperior exemplary performersSatisfactorycompetencylibrary TalentManagement TALENT COMPETENCE COMMITMENT CONTRIBUTIONBeingcompetentisnotonlyenoughtobeatalentThecompetentpersonshouldbecommittedtothecausesandgoalsoftheorganizationAndshouldbeableandwillingtocontributetothesuccessoftheorganizationSo developingyourtalentisnotenough theorganizationsneedtotakeallthemeasurestomotivate rewardtheirtalentpooltogaintheircommitmentandcontribution Retentionisalsoessentialtogauranteefuturealignmentofthetalentwiththerightkeypositions TalentManagementModel TalentManagementModel Expectationsforthefuture BusinessesshouldidentifyJobrolesSpesificobjectivesCompetenciesCapabilitiestomeettheexpectationsWorkenvironmentManagerialsupportRewardsandrecognitionRemovingbarriersFeedbacksystemsneededtoFocusTokeepontrackDevelop TalentManagementCycle TalentManagementProcess OrganizationAnalysis Jobdescriptions Jobspesifications AssessingtheEmloyees PotentialCandidates PerformanceEvaluat
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