Talent ManagementTalent Management

Developing Tomorrows Leaders

Nadia McCalla

APPL 647

Fall 2007

What is Talent?

• Special skill or ability

• A capacity for achievement or

success

• A core group of leaders and key

contributors (Workforce Management)

Defining Talent

Percentage of HR executives reporting groups they consider to be "talent," 2006

• Senior leadership 86% • Midlevel employees with

leadership potential 82%• Key contributors/technical experts 76%• Entry-level employees with

leadership potential 48%

Note: Survey of HR executives at 250 North American midsize and large organizations. Source: Towers Perrin (www.towersperrin.com/hrservices)

What is Talent What is Talent Management?Management?

A set of business practices that

manage planning, acquisition,

development, retention and

advancement of talent in order to

achieve business goals and optimize

performance

What is Talent Management?Involves:• Recruitment & Selection

− Knowledge, Skills, and Abilities

• Employee Development & Training− Improve skills and broaden knowledge

• Performance Management− Provide feedback for improvement

• Compensation & Benefits− Rewarding employees to meet financial needs

• Succession Planning− Tomorrows leaders

How to Identify TALENT

Take a Talent Inventory−What are the key positions −Needed competencies

• Knowledge, skills, abilities,• Attitudes and attributes

−Identify high potential & high performing employees

Succession Planning

Begin Succession Planning:−Who are potential successors−Identify competency gaps−Have a development plan−Develop recruitment plans

Development PlanningEmployee development plan:

• Formal Training− Perform current jobs more effectively.− Next job in the career ladder.− Job in a different discipline

• Mentoring− Additional skills and resources− orient new hires and enables them to function more

productively sooner

• Leadership Development• Job Rotation

Activity #1

Distinguish between:

Core Competencies & Role Specific Competencies

How to Identify TALENT

Take a Talent Inventory−What are the key positions −Needed competencies

• Knowledge, skills, abilities,• Attitudes and attributes

−Identify high potential & high performing employees

Activity #2

1. Identify a potential successor for the HR Manager position.

2. Formulate a Development plan for that individual

• What development strategies would you suggest to prepare this individual for their up coming new role