company strategy and impact of talent management

7/31/2019 Company Strategy and Impact of Talent Management

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Company Strategy

and

Impact of Talent

Management

Source: hrpd.co.uk


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Source: http://www.ipat.com/SiteCollectionDocuments/pdfs/wp-stm.pdf


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Executives and HR management have always been

focused on basic talent managementacquiring,hiring and retaining talented employees. But, to

drive optimal levels of success, business leaders

need engaged, high-performing employees.

The key to inciting a workforce to greatness is to

align your talent management with company

strategy, define consistent leadership criteria across

all functional areas, and identify specificcompetencies (analytical, technical, education,

experience) to cultivate for continuing growth.
http://www.successfactors.com/articles/goal-alignment/http://www.successfactors.com/articles/goal-alignment/http://www.successfactors.com/articles/goal-alignment/http://www.successfactors.com/articles/goal-alignment/


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Business leaders who implement a strategic talent management process

are more prepared than their competitors to compete in the global

economy and capitalize quickly on new opportunities. True success isonly available when companies do more than adapt to long-term trends;

they must be able to anticipate and jump on new opportunities before the

rest of the market. A strategic talent management plan allows you to:

Become "proactive" versus "reactive". Fill your critical talent

management needs and address company and industry changes

promptly;

Identify essential skills to be developed in all employees, and

minimize training costs by focusing on key development areas; and

Improve your recruiting process by identifying high-quality candidates

using job descriptions based upon the expertise of your high

performing employees holding uniquely valued company or industry

competencies.


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Multi-method Job Analysis:

Subject matter experts and high performing incumbents aresurveyed to identify job-relevant tasks and personality traits. Meta-

analytic studies and previous relevant research can be evaluated as

well. This analysis allows for the discovery of the job-relevant tasks

and personality traits that are key to successful performance on the

job. These types of job analyses serve as the basis for all other

assessment interventions and opportunities.

Recruitment/Pre-screening:

Applicant pools are established based on targeted strategic

advertisements. Potential candidates then complete pre-qualifyingquestionnaires, including knock-out questions, to determine initial

person-job fit.


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Pre-employment Testing:

Job-relevant selection tests are used to assess person-job fit,

core job-related personality dimensions, and future

development needs. This assessment, at a minimum, should

determine ones compatibility with the ideal traits and skills

for a given position, which is based on the task andpersonality-based job analysis.

Promotional Assessments:

Assessments can also be used to prepare job incumbents for

promotions. Again, fit between the person and the new

position is assessed, as well as the core skills and

competencies needed for success in the job.


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Talent Development:

Job-related personality, performance, and leadership

assessments can be used to strengthen an incumbents

core competencies. Employees can then develop action

plans based on these assessments to address particularstrengths and developmental areas for use with a

coach, mentor, or their manager. These types of

assessments can also be used as part of a battery to

select and/or place supervisory, managerial, andleadership talent.


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The selection process incorporates the competencies into a multi-raterstaff assessment model that includes the candidate (self), interviewer,

and references. This process works as follows:

1. Self

At the initial interview, the applicant completes a self-assessment

form. This form asks the applicant to identify the extent to which

he/she exhibits each of the eight selection competencies. The

following five-point rating scale may be used: greatly below peers,

below peers, same as peers, exceeds peers, greatly exceeds peers.


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2. Interviewer

The interviewer reviews the self-assessment and begins his/her assessment

of the applicants competency levels. To aid in this process, targetedinterview questions that tap into the competencies are selected. For

instance, the competency of compassion and caring is defined as follows:

Shows concern about others needs and feelings. Exhibits kindness and

concern with co-workers, consumers, and customers. Exhibits fair

treatment to all people and shows a willingness to give others support, thebenefit of the doubt, and opportunities. A targeted interview question is as

follows: Tell me about a time when a consumer/patient/student became

difficult. What did you do to resolve the situation? This question is asked

during the interview process and the answer is used in the interviewers

determination of the competency rating score. Other information correlated

with competencies includes the applicants resume and employment

application.


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3. References:

Finally, references are provided with a form that includes the same

eight competencies, their definitions, and the same five-point rating

scale that the candidate and recruiter use. A release of information

statement must be signed by the applicant prior to soliciting feedback

from reference sources.

4. On the Job:

Once candidates are selected for assignment, it periodically assesses

their performance on the same eight competencies and rating scale,

using customer feedback.