The New Organizational Imperative
| Talent Management: The New Organizational Imperative |
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This synopsis is brought to you by the RCI Center of Excellence. In addition to summarizing the work for you to save you time, we relate the salient points to our own thinking on the subject. Please feel free to add your own views and comments in the Comments section at the end of this article. Enjoy! Talent Management: The New Organizational ImperativePublished by: Plateau Does your talent management solution consider performance management from your employees’ perspective? Do you go out of your way to link expectations and aspirations with actionable career and training plans? A white paper by Plateaus puts forward some suggestions. Keeping talent inhouse boosts morale and productivity. Surprisingly many organizations spend up to 12 times more on recruitment than in training and nurturing current employees, which results in ‘cultural trauma’, according to Plateau’s white paper. ‘By “farming” rather than “hunting” for the right skills, companies will keep skilled employees longer, decrease training costs, and reduce or eliminate hiring cycles’, the paper maintains. Heard it all before? Perhaps, but have you also considered that talent management ‘serves every employee in the company’ not just those at the top. Consider talent management from your employees’ perspective. Is each and every employee asking: ‘Am I on track for meeting my performance goals?’ What are your employees’ individual goals and expectations and are these integrated into your talent management system? ‘A consolidated talent management system provides a unified view for all stakeholders,’ Plateau suggests. So that ‘when a CEO publishes a new goal, such as “increase customer retention by 15% next year”, a unified talent management solution communicates that objective to the entire organization and into every plan and goal’ [our emphasis]. The paper cites James Holincheck, who stresses that for most employees, performance management and review occur only once annually. He says, ‘this is the first and only feedback they get about their performance. This type of approach is demotivating to employees and causes mismatches between pay and performance.’ Employees need to be continuously issued with actionable plans and employers need to agree that ‘a learning activity can itself be a performance target’. In addition, succession plans that are ‘tied to individuals’ career plans improve morale and productivity, because employees are more likely to participate actively in career advancement with the organization’s support’. A unified, holistic talent management system integrates all goals and expectations, so that they are aligned, communicated and actionable. How will you improve your talent management process? How is performance linked to training and development in your organization? Does your solution enable your employees to ‘grow professionally and achieve their career goals? If not, brace yourself for some cultural trauma. Access the Original Work (Some sites require registration) Center of Excellence clients, Performance Staffing and STREAMline™ alumni only: If you have trouble downloading any of the original works referenced here, please contact us so we can arrange access for you to our private-study archive. All other visitors please contact the publisher.
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