Talent Management in 2021

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Talent Management

Talent Management is the process of maintaining talented people in an organization to achieve its goals. Younger et al(2007), suggests approaches need to include growth from within, as a key element of talent development to meet the demands of high performance.


Talent management processes

Armstrong (2014) describes the process of talent management as a pipeline that operates with talent strategy and policy(Fig 01). This process starts with talent planning and followed by a sequence of resourcing and development actions to keep in line with producing a talent pool.

                                                                           Fig 01, Talent management pipeline(Armstrong, 2014)


  • Talent planning-establishing the required talented people for the future and now in an organization. This implements the policies to attract and retain talents.
  • Resourcing-outcomes of the first step then programmed for internal and external resourcing. Talents are identified, developed and managed internally. Externally the policies are created to attract high-quality talents.
  • Talent identification- audits are carried out to evaluate the performance and to decide which talents are suitable for the talent pool.
  • Talent relationship management-build relationship with the roles of employees and recognize the value of individuals.
  • Talent development-develop programmes to ensure the employees grab and enhance their skills and competencies.
  • Talent retention-optimize the policies to ensure the talented people will remain in the organization
  • Career management-concern employees to develop their abilities to meet their own aspirations.
  • Management succession planning-set objectives to meet business needs.
  • Talent pipeline-maintaining the flow of talents.
  • The talent pool-available talents of an organization.

               Fig 02, Talent management process(Armstrong, 2014)


What you need to know in 2021

Changes in the usage of digital technologies and shifting to remote working are the main concerns for talent management in 2021. Organizations need to focus on finding where the talents are rather than focusing on who is the best. What has not changed with the pandemic is that the employees needed to perform best even they are working remotely. They were interested in work, required immediate feedbacks and associate with colleagues. While many organizations wanted to limit the employees, some organizations worked to attract talents. Most of the organizations detected the requirement of acquiring new talents to their talent pool. During this economic downturn time organizations need to pay attention to new ways to address individuals aspirations rather than focusing on compensations.
  • Identify high performers
  • Improve employees flexibility
  • optimize the well-being of employees
  • Introduce new programs for professional development
  • Introducing non-cost rewards for the best performances


Global Context

 Organizations around the world implement many strategies and frameworks to acquire high talents. A key issue that the organizations are facing is identifying the right talent. Tansley and Tietze (2013) revealed everyone is talented individually and but we select people intellectually. Cappelli (2008), states that successful talent management can define and resolve any complications between the supply and the demand of the talent. A CIPD (2007) study findings indicate the impression of talent, how the talent develops is varied and there is an issue of demotivation of unselected talents. CIPD (2010a) indicates that talent management and diversity should be interlinked to succeed. Although many organizations welcome newcomers and prefer new talents, De Vos and Dries (2003) point out the careers, far from the distant past would make the organizations career far from dead.


Conclusion

Talent Management is simply about hiring, developing, mentoring and accomplishing personal goals. Successful talent management is considering the needs of the talents and treats them fairly and with dignity. This will helps the employees to grow as well as the organization to retain the talents in order to succeed through company goals. More than ever talent management needs to build new strategies to be more flexible and agile to tap power to their workforce now.




References

Armstrong, M. (2014) Armstrong's Handbook of Human Resource Management Practice. London: Kogan Page Limited.
 
Cappelli, P. (2008) Talent on demand: Managing talent in an uncertain age. Boston: Harvard School Press.

CIPD (2010a) Opening up Talent for Business Success. London: CIPD.
 
CIPD (2007) Talent: Strategy,Management, Measurement. London: CIPD.

De Vos, A. and Dries, N. (2013) 'Applying talent management lens to career management: The role of human capital composition and continuity', International Journal of Human Resource Management, 24, pp 1816-1831.

Tansley, C. and Tietze, S. (2013) 'Rights of passage through talent management stages: an identity work perspective', International Journal of Human Resource Management, 24, pp 814-815.

Younger, J., Smallwood, N. and Ulrich, D. (2007) 'Developing your organizations brand as a talent developer', Human Resource Planning, 30 (2), pp.21-29.



Comments

  1. Ranjana Bandara28 April 2021 at 06:25

    This comment has been removed by the author.

    ReplyDelete
  2. Hansika Samarakoon29 April 2021 at 09:16

    The banking concern is considering the below points for maintains the most effective talent management strategy.

    Promote a culture of continuous learning and feedback for workers to reinforce structure performance Collaborate talent development and business leaders to frequently, and proactively, assess evolving wants and actively determine opportunities to develop and deliver learning solutions for workers. Manage the corporate peer program determine and assign all new workers with a peer, offer resources and support for the participants of the program, and proactively make sure the program is partaking and successful.

    ReplyDelete
  3. Ranjana Bandara1 May 2021 at 10:22

    People are the heart of a company. Without the right talent, companies risk poor culture, low customer satisfaction, and most importantly, a lack of innovation. Employers today face a more complex talent management landscape than ever before, and those that manage talent well will have a competitive edge over those who do not.

    ReplyDelete
  4. Tania De Mello2 May 2021 at 03:05

    Talent management is essential to build a stable workforce for any business. It looks into the development of the organization as a whole. With new job opportunities coming up, developing staff potential within the company is essential for business profitability and sustainability.

    Employees leave an organization if their job becomes monotonous or the learning activities stop over time. Talent management focuses on job rotation and encourages the workforce to pick up new skills as per market demand. It keeps them engaged, motivated and enhances employee loyalty.

    ReplyDelete
  5. HR ZONE JINODA2 May 2021 at 05:40

    I would like to add advantages and disadvantages related to Talent Management.

    ADVANTAGES

    1.Help in ascertaining the right person is deployed in the right position.
    2.Contributes in retaining their top talent.
    3.Better hiring by hiring assessments
    4.Helps in understanding employees better and shaping their future.
    5.Promotes effective communication across different disciplines.
    DISADVANTAGES

    1.The implementation of talent management program could be expensive in terms of time, resources and financial costs.
    2.Lack of support from line mangers can impede the level of commitment from employees.
    3.A core drawback of talent management is, it can contribute in raising the conflicts between HR and management by not reaching to proper agreement or consensus.

    ReplyDelete
    Replies
    1. Maduka Udagama 7 May 2021 at 11:55

      Yes Jinoda talking about the disadvantages, we can overcome them by strategical thinking.As an example we can use cost effective talent management strategies like use of applicant tracking system, assess talent with performance reviews and invest in developing leadership.Delegating selected tasks will reduce the line managers duties and it will make them more engaged. The conflicts between HR and the management can be solved by being assertive, addressing the issue, being prompt and knowing where to draw the line.

      Delete
  6. HR Times- Isuru Wijayalath5 May 2021 at 08:56

    While there are many things we do not know about 2021, one thing we do know is that organizations will be focused on getting to what we might want to call the “next normal”. I’m sure there are companies that feel they fell behind in 2020 and they will want to make that up.

    A key element to doing that successfully is people. Organizations will need to hire the best talent to help them accomplish their goals. And HR’s role in this strategy will be essential.

    ReplyDelete

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