Talent Management. Carlos. Anne. Jorge. Adrian. Anurag. Enrico. Yu. Human Resources. Group C. what is talent management?. Anticipating the need of human capital and then setting out a plan to meet it. …forecasting and succession planning.
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Anticipating the need of human capital and then setting out a plan to meet it.
…forecasting and succession planning
What are the current responses to this challenge?
Well, to do nothing or…
In the 1970’s…internal talent development collapse because it could not address the increasing uncertainties of the market place
In the 1950’s…executive coaching to 360° feedback to job rotation to high potential programs
… there were no lay offs so there was an excess supply of managers…
In the 90’s… the alternative to traditional development… outside hiring
In the 80’s… they cut positions, so why maintaining the programs designed to fill the ranks?
But… this doesn’t work anymore…
Actual companies are returning to the practices of 1950’s…
Succession plans create an implicit promise… employees feel betrayed
These investments are essentially wasted
Long term succession plans that attempt to map out careers years into the future.
Jobs change as conditions do, so most companies have to constantly update their plans
Developing employees or creating succession plans
Achieving specific turnover rates or any other tactical outcome
At the end, Talent Management exits to support the organization overall objectives, which in business essentially amount to making money.
Well, lets start with what is not
Supply Chain Management
A new way to think about Talent Management… Supply Chain Management:
Forecasting product demand
Forecasting talent needs
Estimating cheapest and fastest ways to manufacture products
Cost –effectively developing talent
Ensuring timely delivering
Planning to succession events
The issues and challenges in managing an internal talent pipeline are similar to how products move through a supply chain
Reducing bottlenecks that block advancement
Speeding up processing time
Improving forecasts to avoid mismatches
Capelli’s innovative approach to managing talent uses 4 operations-based principles…
Two of them address uncertainty on the demand side…
And the other two on the supply side… lets look at them…