The talent pool is a group of employees who are being trained and developed to undertake organizational responsibilities in the future (Lauby,2018). A famous Chinese proverb says, “Every generation will reap what the former generation has sown”. Stability, integrity, continuous growth and development of organizations, depend on both current employees as well as the future talent. This explicates the importance of building talent and incorporating new talent with necessary skills to align to achieve the future success of the organization (Benoy and Gracias, 2015). Boudreau and Ramstad (2005) said that identifying and developing high potential individuals who are considered as the talent pool is an important concept for the organization. Most importantly they would move into future leadership roles in the organization(Keçecioğlu and Yilmaz, 2014).As per Maragia (2013), “workforce demographics, global competition, mergers, acquisition volumes, and technology” would lead a talent pool to take up leadership responsibilities.
Zuboff (1988) considered talent, as value-adding to the organization. Focussing on the talent pool would be the biggest value for the organization. With the talent pool perspective, the competencies and values of employees are developed instead of developing specific position skills. This leads to successful succession planning within the organization (Lauby, 2018; Keçecioğlu and Yilmaz, 2014). Jiang & Klein (2002) has shown that many organizations pay attention to create “a feeder system”, which can feed management positions with high potential employees. This feeder system is similar to a system like succession planning. Lack of succession planning causes employees to dissatisfy about the organization and results in decreased performance and retention rate (Maragia, 2013).
Training and development
is a primary factor for an effective talent pool. According to Pulse talent
report, “44%
of Companies have a formalized training program for project managers”. By providing required skills and competencies
through training and development programs organizations can make a successful
talent pool (Benoy and Gracias, 2015). A leading airline in Sri Lanka
has a training facility attached to the organization to train and develop the
necessary talent, required for the organization. As an advantage of this, the organization
could create a talent pool in different fields. Airline ticketing training
programs, Aircraft maintenance and engineering training, Airline cabin crew
training, Flight Simulator training, Cargo training programs and Travel and
tourism training programs are some of the available programs. Details are
available in the International
Air Transport Association (IATA, 2021) website and SriLankan Aviation College
website (SriLankan
Aviation College, 2018) . Further to that Srilankan airlines - Aviation college LinkedIn web page,
emphasizes "SriLankan's International
Aviation Academy caters to manpower requirements of airlines, airports, travel
agents, and other aviation industry organizations of both local and
overseas" (Linked-in, 2021). Figure
1 shows a picture taken during a Himalayan Airline Cabin Crew Training program.
Figure 2 shows, a picture was taken during Aircraft
Maintenance Training program.
Figure
1: Himalaya Airline cabin crew training program.
(Source: SriLankan Aviation College.)
Figure
2: Aircraft Maintenance Training program - Inspection of Main Landing Gear.
(Source: SriLankan Aviation College.)
As per Lauby (2018), there are four steps, to develop an organizational talent pool.
Step 1:
Review the organizational strategies and identify competencies required to develop talent pool.
Step 2:
Assess and identify the company's current talent to identify any skills
gaps through Performance reviews,
assessments and interviews.
Step 3:
Create internal
and external training and project-based learning that will help employees to learn the skills they
need.
Step 4:
Conduct regular talent assessments, observe market conditions, monitor progress, and make regular adjustments.
The talent pool can be an internal
source or an external source (Khzam, 2015). Recruiting employees from an external source like
Linked in, Twitter or Facebook is an instance for using an external source (Verma,
n.d). Cruz (n.d) has given an example for using
an external talent pool to recruit employees in B/E Aerospace, a world-leading
organization for interior cabin products, fastener distribution, and logistical
services for commercial, business, and military aircraft. As per
McCartney and Garrow (2006) and Byham (2002), Either internally or externally the most important thing is having a talent pool that increases employee engagement,
cross-company support, personalized growth opportunities, reduces employee
turnover, and most prominently retaining talent (Syam, n.d).
List of references:
- Benoy, J and Gracias, N (2015), ‘Strategic Talent Management: A Proposed Model for Building Talent Pipeline of Project Managers’, International Journal of Management (IJM), vol 6, Issue 7, pp 67-83.
- Cruz, EL (n.d), ‘Data Driven Recruiting’, Linked-in Talent Solutions.
- IATA, (2021), 'SriLankan Aviation College', viewed 3 September 2021, <https://www.iata.org/en/training/courses/partner-network/srilankan-aviation-college/145569/>.
- Keçecioğlu, T and Yilmaz, MK (2014), ‘An Application on the Brand of Talent Management Perspective’, Journal of Yasar University, vol 9, no 35, pp 6235-44.
-
- Lauby, S 2018, ‘4 Steps for Developing a
Talent Pool’, SHRM, 7 June (2018), viewed 31 August 2021, <https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/4-steps-for-developing-a-talent-pool.aspx>
- Linked-in, (2021), 'International Aviation Academy - SriLankan Airlines', viewed 3 September 2021, <https://lk.linkedin.com/in/international-aviation-academy-srilankan-airlines-0a620a53>.
- Maragia, S (2013), ‘Effects of Succession Planning Programs on Staff Retention’, Mediterranean Journal of Social Sciences, vol 4, no.6, pp 157-62.
-
SriLankan Aviation College, (2018), viewed 3 September 2021, <https://www.srilankanaviationcollege.com/>.
- Syam, MI (n.d), ‘Impact Talent Management to Employee Performance’
- Verma, R (n.d), ‘Role of Social Media in Maintaining Talent Pool’, JayotiVidyapeeth Women’s University, Jaipur, India.
While agreeing to points discussed regarding internal talent pools, there are advantages as well as drawbacks.
ReplyDeleteExisiting employees will easily adopt to the new job roles as they grew up within the organizational culture. It is simple for the prevailing employees as they apprehend their organization (Gatewood et al. 1993).
But if declined, internal applicants may feel the corporate is holding them back. Morale of an internal worker may subside if the organization chooses to value candidates rented outwardly. Yu¨ce and Highhouse (1998).
Yes Udaya, both internal and external talent pools have pros and cons. It is an organizations' responsibility to manage the talent within the organization and retain them as the hiring of an employee is difficult and cost worthy (Verma, n.d)
DeleteWith the increase in competition and rising growths
ReplyDeleteof companies, talent acquisition and management of
talent has become one of the prime concerns of any
company. Companies are spending huge amounts of
money to ensure that they get the best people to work
for them. The growth, development and proper
management of talent is another factor for which the
firms are spending heavily. The world had been
dominated by proprietary software for a long time (The Open and Closed Styles of Talent Acquisition and Management Free/Open Source Software
20th December, 2008)
precisely If an organization can not link and proceed with talent management on their business strategy, it may not know what skills will be benifital for the future (Ready and Conger, 2007).
DeleteYes, Chaturika, I agreed. Training and development are more essential factors for improving employee knowledge and potential skill. Employees' importance of voluntary development and continuous learning is becoming recognized as critical to organizational effectiveness (Maurer, 2002)
ReplyDeleteYes. It has been revealed that investment in talent management, makes a difference in organization and further high talented employees outperform their industry peers (Ringo, Schweyer, DeMarco, Jones, & Lesser, 2008)
ReplyDeleteAgreed. Learning and development highly contributes to maintain an effective talent pool for the organization. According to Jehanzeb and Bashir (2013) employee behavior and working skills are influenced by training, resulting in improved employee performance. Further, employees' performance can be improved by providing them with training opportunities. Thus it adds to the talent pool of the organization.
ReplyDeleteAgreed with you.Talent management, according to Ashton and Morton (2005), is "the integration of several programmes or conceptions into a coherent framework of action" (p. 30). They emphasise several key elements in defining talent management, such as Ethos, also known as "talent mindset," which refers to "embedding beliefs and conduct" that "support the concept that everyone has potential worth developing" (Luna-Arocas & Morley, 2015, p. 30). Talent mindset, according to Michaels, Handfield-Jones, and Axelrod (2001), is a passionate belief that is recognised as the core concept driving talent management.
ReplyDeleteAgreed with your statements. Additionally, the talent acquisition can be done through recruiting agencies, previous employees, social media contacts and most especially from the internal employees who have the talents. A talent pool can bring massive benefits to the organization through educing the time and cost for hire, identify talented employees to fill both short and long term organizational needs (Fournier, 2019).
ReplyDeleteOver the last decade talent management has developed in popularity within the organizations and despite the recession, strategies for identifying and developing talented employees remain firmly on the agenda for most organizations. These trends in talent management often consists of selecting and developing discrete pools of talent from people within the organization (Yarnall, 2012)
ReplyDeleteYes Lasanthi, talent pools are viewed as a useful approach for many companies, particularly when companies adopt an approach to pool membership that goes beyond developing generalist leaders. However, talent pools and their true value remains a critical question requiring further analysis (Yarnall, 2011). The circumstantial evidence suggests that the value of talent pools increases when the communication of messages is well handled. The benefits of reducing the failure rate of new hires and the retention of top talent as identified by McCartney and Garrow (2006).
ReplyDeleteAgreed. Establishing talent pools should need to improve succession planning processes. It should move away from rigid replacement strategies, it should create pipeline for future goals( Byham, 2002).
ReplyDeleteAgree with you Lasanthi. For any firm aiming to establish a more proactive recruitment strategy, talent pools are critical. From unexpected departures to strategic workforce planning, diversity, branding, and time to recruit and cost efficiencies, there are numerous advantages to investing time in expanding your talent pool.(Caoimhe, 2020)
ReplyDelete