Talent Management Strategy 1 Talent Management
Talent Management Strategy 1talent Manag
Talent Management Strategy 1talent Manag
TALENT MANAGEMENT STRATEGY 8 Talent Management Strategy Name Professor Course Date Introduction Avon Company is the envisioned company that has over 200 employees. The company has various departments which ensure that the various consumer products are of good quality. The company has been performing well until 2006, when it realized decreased performance (Goldsmith, 2006). The management declined due to a poor talent management process. Andrea Juan changed the process and made it better suited for competitiveness in the current industry.
To attract the best talent and increase performance, the company ought to adopt an effective talent management strategy. Formulate a talent management strategy to encompass the entire talent requirements of the organization In the talent management strategy to be adopted, the personal employee goals will be aligned with the corporate objectives. The strategic business goals will be communicated in the first instance. The managers will finds out the goals of the various departments in the organization. Everyone will then be made to work together for the same organizational objectives.
A highly skilled talent pool will be created by the management so that the employees and the organization may effectively respond to the urgent needs of the market. Collaboration will then be enhanced through improving the communication channels. The strategy will also involve instillation of a pay for performance culture. The management will access the information needed to reward and motivate the employees effectively. Key components of talent management (Identifying, assessing and developing talent) The key components of talent management are finding talent, On-boarding, Developing employees, Managing Performance, Succession Planning, retaining employees and de-boarding.
In the strategy, the key components are present. The recruitment will ensure that the right people to perform the job duties are selected. The selection process will be on a recruits merit and their ability to tackle the job position. To get the right people, the recruitment process will be detailed and transparent. Unethical practices such as nepotism and tribalism will be free from the recruitment process.
To achieve that, there will be a free toll number provided for the recruits and the human resource employees to report any kind of malpractice in the process. The strategy will ensure that it is capable of attracting the right candidates. That will be by improving the entire performance of the organization. The leaders of the organization will be at the forefront in instilling an organizational culture which will ensure that the organizations objectives and goals are easily met. To achieve such, the internet technology will be integrated in the strategy.
E-recruitment and other effective recruitment techniques will be used. Once the recruitment is over, an effective on-boarding is best adopted. The process involves getting the management employees adopt effectively to the duties of the management job. The strategy will ensure that it has an effective talent mapping. The right mix of talent to meet the needs of the organization is achieved.
A training program to meet the organizational needs will be designed. The employees will be categorized differently. The categories will be High-performing, high-potential and low-performing employees. With that, the employees will benefit from the regular review of their contributions, succession potential and developmental needs. In the workforce planning and development, much focus will be on getting the organizations human capital to a desired state.
An intense workforce planning and skills gap assessment will be carried out. High potential personnel will be identified and a more flexible development program will be adopted. Owing to the fact that employees perform much better when they understand where they add value and that the employees perform better when they are well communicated to, more effective performance planning and evaluation will be adopted. A retention plan that will best determine critical performers and compensate them effectively will be adopted. A learning and development plan will be established.
Examination of how talent management process is a strategy for a competitive advantage for your organization Talent management process is indeed a strategy for a competitive advantage for the organization. The process identifies loopholes that the organization’s talent management process may have. In the case with Avon Company, the company had a weak approach to talent management and talent practice. There were many gaps existent in the company’s talent a factor which rendered the company unable to effectively identify and develop talent. The talent practices were characteristically opaque, emotional, meaningless egalitarian, complex and episodic.
The company’s human resource managers never knew how the talent practices of the company would best be implemented. The various employees efforts were not identified since all associates of the company were treated in the same way. The high performing employees never experienced a different work experience. They had the same experience as the low performers and they were not fairly compensated. The talent process was also complex since the performance evaluation process was very long and the succession planning process was hectic.
Employees’ surveys, development planning and talent reviews were done at an episodic frequency and determined by individual managers across the various offices. Talent management and decisions, promotions and other activities were influenced by emotions. The Human resource was not familiar with talent practice. Through talent management process, the new management at the firm turned things around and gained an edge against its competitors. In 2006 the new CEO, Andrea Jung and her executive team reviewed the company’s talent practices and identified the weaknesses that interfered with the overall performance (Goldsmith, 2006).
An improved talent management process saw the immediate mangers settings increase to 17 per cent. The people’s effectiveness ratings increased to 16 per cent. The talent process became more transparent, differentiated, simple, consequential, factual and with more discipline. Improved talent management process led to the following: The management of the organization was coached by Top Companies for Leaders Study (Effron, Greenslade & Salob, 2005) to build talent practices which had two key guiding principles; Execute on the “what†and “Differentiate on “howâ€. From the coaching, Avon’s management indeed saw the need for change.
Avon management saw the need for change and initiated the change by seeking guidance of Top Companies for Leaders Study. Top Companies for leaders Study taught that simple and a perfectly executed talent practice were common in companies that performed well. Avon’s management adopted a well-executed plan which made them increase their performance to an effective one. They also adopted a more academic model of management which changed the behaviors of the leaders. The company achieved its goals due to the more effective processes that began in the turnaround.
The company currently has stronger and more improved approach to talent management and talent practice. The company is currently able to identify and develop talent and therefore it is one of the best employers in the industry. The company’s management is more knowledgeable of how the talent practices works. All associates of the company are treated fairly. The high performers currently experience a wonderful work experience in contrast to the low performers.
The performance management form of the company and the succession planning process and other processes are less hectic. Practices such as employee surveys, development planning and talent reviews are well determined. Talent movement decisions and promotions among other key talent activities are no longer influenced by emotions but by facts. The Human resource is more effective and efficient. The leaders now know what is required to be successful and how to measure success since it continuously increases performance.
The leaders regularly measure performance and change their ratings to meet their potential performance. The profitability of the organization; as a result of an effective talent management, increase steadily. The company’s costs reduced and the earnings growth increased to $ 11B in 2009 (Dotlich, 2010). Assessment of how the talent management strategy should change with the anticipation of the organization doubling in five to six (5-6) years In the next five years to six years, the company will have a different environment as compared to the current one. People’s tastes and preferences will have changed.
The technology of the time will also have changed significantly owing to the fact that technology changes rapidly. The employees too will have different goals and capabilities as compared to the current ones. The company’s talent management strategy should therefore be one that will enable the organization to align the organizations goals to the changing trends. The strategy should be more effective and efficient ones. The talent management, just as the formulated one, should be stronger and more improved so that the company sustains its relevance.
The company should be able to identify and develop talent and therefore attract the most talented employees in the industry. The strategy should incorporate transparency so as that the company’s managers may be more knowledgeable of how the talent practices work. The talent management processes should be less hectic so as to ensure effectiveness and efficiency. Practices such as employee surveys, development planning and talent reviews should be well determined. Talent movement decisions and promotions among other key talent activities should not be influenced by emotions but by facts.
The leaders should be knowledgeable of what is required to be successful and how to measure success for sustainability. The leaders of the company should regularly measure performance and change their ratings to meet their potential performance. Constant research should be carried out to stay afloat with the talent management process. Conclusion Avon Company could adopt the effective talent management strategy which clearly encompasses the talent requirement of the organization. The strategy bears all the key components of talent management including identifying, assessing and developing talent.
The process is a strategy for a competitive advantage for the organization since it will likely increase the productivity of the employees and hence the performance of the organization in relation to the competitors. For the organization to remain relevant even in the future, constant research and changes should be carried out. In the changes, the projection of the future business environment should be considered. References Dotlich, D. L. (2010). The 2010 Pfeiffer annual: Leadership development. San Francisco, Calif: Jossey-Bass. Effron, M., Greenslade, S., & Salob, M. (2005, September). Growing great leaders: Does it really matter? Human Goldsmith, M. (2006). Try feed forward instead of feedback. In M. Goldsmith & L. Lyons, Coaching for Leadership (pp. 45 – 49). San Francisco: Pfeiffer. Hunter, J.E., Schmidt, F.L., & Judiesch, M.K. (1990). Individual differences in output variability as a function of job complexity. Journal of Applied Psychology, 75 (1), 28 – 42. Jones, C. (1986). Programming productivity. New York: McGraw - Hill. Resource Planning Journal, 28 (3), 18 – 23.