The current business world is changing vastly. New measures have come into play regarding the best practices to measure employees’ potential in order to achieve the best input practices. Employee valuation in terms of potential and skill are the fundamentals in determining the level of employee capability to a given role. Many business managers use different techniques, which work out for them.
Performance management process
In the competitive business environment capability management is one of the most ideal business strategies aimed at measuring employee talent and skills towards a particular role. Capability management entails the activities that shape an organization’s capability and competency. To achieve capability management, managers focus on continuous employee development and talent management and career progression for employees. In addition, managers should adjust their capability management strategies to fit in evolving business trends (Grote, 2005).
Capability management mainly focuses on improving human capital in organizations. The key strategies in improving human capital in a firm entail skill assessment, career planning, talent reviews, competency modelling, management of talent pools and succession management development for low level leaders in the organization. Different managers may organize the key goals for capability management in the manner that fits the organization best.
Capability management enables the organization to achieve its goals. Therefore, in my management process, I will use the capability management strategy to ensure there is talent appraisal among employees. My capability management strategy will be deeply set in the organization aimed at achieving set organizational goals and future goals. Furthermore, as a manager I would focus more on the effectiveness of the capability management programme to ensure total utilization and appreciation of employee talents. For instance, senior managers should be breed from low level leaders who have achieved merit over the management stages up to the highest management position (Sizler and Dowell, 2010).
Key ideas associated with the talent pools and the talent review process.
Performance management embraces talent pools and it defines talent review processes within an organization. Performance management aims at establishing individual development plans for an all the employees within an organization. The process entails monitoring, evaluating and progressing employee skills and talents. The key strategies in performance management include analysis of skill gap, goal setting and alignment, development planning, performance planning and evaluation (Sizler and Dowell, 2010).
Skills gap analysis resides under capability management. The strategy ensures that there are no loops in the business cycle. Thus, managers ensure that there is substantial performance planning and evaluation for the next business economical cycle. Therefore, if one vital employee exits the business, there is no time lost looking for replacement because their replacement is already considered using the skill gap analysis strategy.
Development planning, in relation to talent pools, exudes a performance management process that embraces employee development. Development planning entails cultivation of ambitious employees. This management strategy focuses on identifying the most ideal talented and ambitious employees and developing their performance. This strategy creates a talent pool where certain employees who appear more valuable to the organization in the long-run are well nurtured to fit in senior position in the future. This method ensures that skill gaps are not left void and the organization culture does not change in the long-run. This is because managers mentor low level leaders within the organization to fill in future leadership positions (Ulrich & Lawler, 2013).
Develop proper talent management goals to measure functional expertise.
As I have discussed above, talent management is one of the most vital management strategies ensure organizational goals are met. Some of the most important talent management objectives include performance reviews, performance ratings, performance perception, performance improvement and pay for performance.
Performance reviews enable managers to carry out skill and talent assessment among various employees, in order to rate the degree of potential among the employees. These reviews include the measure of employee goal orientation and motivation. This first step of the talent management objectives paves way for the second step, which are performance ratings. After reviewing performance reviews, a manager can rate the employee potential for the employees. In addition, the employee can rank the level of competency of various employees. Managers can also use this strategy to measure the percentage of performance levels among employees in the organization (Ulrich & Lawler, 2013).
Third, performance perception is a management strategy that enables managers identify the goal orientation of various employees. According to the capability management technique, performance perception of employees towards achievement of an organization’s goals determines their level of enthusiasm.
Furthermore, performance improvement increases the individual potential of employees within an organization. Performance improvement increases level of skills among employees and their total output and quality of service increases, as well. Lastly, pay for performance is a management strategy that appreciates employee performance and it also stimulates improvement of employee performance. Pay for performance rewards efforts put by employees. It also recognizes outstanding employee performance. This paves way for increased employee productivity because of the reward offered (Yost & Plunket, 2009).
Assess the key elements of global talent management as they apply to your organization.
The major problem with most managers is establishing a strong and effective talent pipeline. The economic sector is widely dynamic. There are frequent changes pertaining to work force preferences among employees and shifting demographics. Accommodating new technologies, keeping up with competition and globalizing operations require numerous changes within an organization’s workforce.
There are various strategies employed to fit an organization’s global talent management. Differential approach is one of the mostly used strategies in global talent management. Differential approach entails the practice of grouping employees according to the potential and performances. The talent pool system recognizes and rewards employee performance. This method entails high levels of rewards, attention and incentives towards top talents in the organization’s employee workforce.
This method enables managers to fire employee who are not of great influence to a firm, especially in the competitive economic sector where managers have to maintain an economical number of employees. However, this strategy is widely criticized for exploitation of less talented employees and it creates chances of inequality within the organization (Yost & Plunket, 2009).
Further, another method incorporated in global talent management by organizations is the inclusive approach. The inclusive approach mainly focuses on group assessments of employees to attain the greatest value of the employees to the organization. Employees at this level are considered all talented equally, and their performance is measured in groups. This creates huge aspects of collaboration and teamwork among employees (Ulrich & Lawler, 2013).
My ideal global talent management strategy is a combination of the differential and inclusive approach. This hybrid system enables the organization to achieve flexibility of employee management. Further, combinations of the two strategies enables managers make use of all the employees in the organization to the highest potential. For instance, the flaws made by the differential approach are compensated by combining the differential approach with the inclusive approach.
The capability management strategy is the most ideal talent management process to any organization. However, it must be properly designed to accommodate the performance management techniques. This ensures that there is maximum utilization of human capital within an organization. Capability management paves way for other fundamental management practices. For instance, capability management ensures there is a continuous presence of leadership potential in the organization.
Thus, this enables firms make long-term business plans. In addition, capability management can be applied together with a high breed technique of combined differential and inclusive approach of talent management. This would ensure that the organization exploits all the potential possessed by its employees to the fullest potential. This in turn yields high output in terms of man power and quality of service by employees.
Nevertheless, the success of the talent management system used by various organizations differs with the organizational culture. Therefore, different managerial techniques may work or fail in various organizations. Thus, managers should review the effectiveness of the management system before implementing the strategy. Further, management strategies should be flexible in order to accommodate economical changes. For instance, different economic situations experienced by a company may call for different measures that may need a different managerial approach.
Despite the different potentials posed by various managerial strategies, corporate strategy is the key determiner of the best talent management strategy. Corporate strategies outline the organization’s goals. This allows managers to align their talent management strategies with corporate strategies. This is because corporate strategies determine what levels of potential and talents are needed for a particular position within the organization or for the general employee performance (Grote, 2005).
Managers should incorporate their talent management processes in line with the business planning strategies. This makes it easier for managers to determine which employees are more skilled than others. Further, this enables managers scout potential among employees suited to a relevant position. For example, a review of the Shell Company revealed that the company mostly regards all of their employees with an equal potential. The company then categorizes employees randomly in various groups and their total output and potential is analyzed as a team. This increases the total output generated by each employee in the company.
In the current business sector, technology is a major factor of production that propels business success. Peoplefluent performance software is management software that enables managers to easily establish, align and measure the performance of employees continuously. This performance management software enables manager’s to process useful information regarding performance appraisals, goal management, skill assessment and competency of employees. The talent levels of employees are easily viewed under the employees’ talent profile. This management system makes it easy for managers to carry out talent management practices (Tony, 2007).
Grote, R. C. (2005). Forced ranking: Making performance management work. Boston, Mass: Harvard Business School Press.
Silzer, R. F., & Dowell, B. E. (2010). Strategy-driven talent management: A leadership imperative. San Francisco: Jossey-Bass.
Ulrich, D., & Lawler, E. E. (2013). Talent: Making people your competitive advantage. San Francisco, Calif: Jossey-Bass.
Yost, P. R., & Plunket, M. M. (2009). Real time leadership development. Chichester, UK: Wiley-Blackwell.
Tony, D. (2007). Talent assessment: A new strategy for talent management. Aldershot: Gower.