Talent Management Strategy
The objective of this study is to determine which performance management process will be employed to measure employee talent and analyze the key concepts related to the talent pool and the talent review process. This study will develop appropriate talent management objectives to measure functional expertise and assess the key elements of global talent management as they apply to the organization. Finally, this study will recommend a process that optimizes a sustainable talent management process.
From the View of Senior Executives
It is the claim of senior managers that people serve to drive business value. In a recent survey the Economist Intelligence Unit for Oracle reports that "senior executives at corporations worldwide judge the ability to attract and retain people as one of the most critical enablers of growth." (Economist Intelligence Unit, 2007, p.4) Employee skills and knowledge ensure that they are in demand and provide value to their employers through enabling their organization to compete effectively against competitors. Talent development management more often than not is the responsibility of human resource professionals.
HR and Talent Management
The Economist Intelligence Unit reports that a senior financial executive of a large U.S. technology firm states that value is delivered by HR executives through assisting the company in the customization of the careers of the workers that are the most valuable to the company. The process of "designing and continually updating an individual career path" results in the organization getting more return on its investment in the employees and the retain the employees longer. Talent management is reported to be making a transition from an administrative focus to a focus that is more strategic in nature.
Key Drivers of Performance
The Economist Intelligence Unit states that a key driver of performance is that of engagement and that through monitoring and measuring engagement the human resources function is able to make provision of critical insight to managers on what does and does not work and how it may be accomplished in a more superior manner. An integrated technology platform is reported to provide HR executives with more time for focusing on issues...
The company is enabled to "create 'one culture' and 'one set of processes'." (p.6) HR technology assists in the execution of tasks that are value-added tasks and assist the organization in improvements related to: (1) recruitment; (2) talent mapping; (3) Workforce planning and development; and (4) performance planning and evaluation. (The Economist Intelligence Unit, 2007, p. 7)
Recruitment Issues
Recruitment issues involve whether the organization is attempting to attract the right candidates. It is necessary to gather results and analyze those results so that benchmarks can be generated. In addition, randomized trials are assistive in helping the organization in "tracking the effectiveness of competing recruiting techniques." (The Economist Intelligence Unit, 2007, p.7) It is reported that talent mapping involves the determination of the mix of "talent and skills" that will serve the execution of talent mapping successfully. Where the talent mix is not present the organization must determine how it can be "developed or acquired." (p. 7)
Much of the function of HR is funneled toward the movement of the human capital of the organization from the present state to the future desired state. It is possible to document and track these efforts through the creation of workforce planning and gap assessments of skills and through the identification of personnel with high potential. (The Economist Intelligence Unit, 2007, p.7)
Performance Planning and Evaluation
Performance planning and evaluation is important in the engagement of employees toward their effective performance and HR systems "can help managers to develop feedback loops between performance expectations and actual performance over time" as well as in the evaluation of the performance metrics effectiveness and in enabling a range of techniques that can be used for review. The integrated HR processes serve to link employee performance with evaluation and compensation of the employee. These processes are such that are reported to link "the value people create to how people are valued." (The Economist Intelligence Unit, 2007, p.8)
Work Environment
According to one report, there have been a number of studies that have shown that the work…
