Sunday, August 15, 2021

TALENT MANAGEMENT MODELS – TRADITIONAL AND MODERN

 

Competitive business management organizations hire people for the growth and success of their businesses. Many organizations have revealed that talent management is a process adopted for their employee's talents and skills lead their business success (Srivastava and Bhargava, n.d). As Amelia (2020) said, company leaders, must focus on a framework to manage the talents of their employees, starting from finding employees, hiring and retaining talented employees, managing high performing employees by utilizing their talents to match with company strategy to achieve success through a proper talent management system.

 

Video 1 demonstrates, that many strategies related to attract, engage, develop and retain employees are included in talent management. As Oberoi (2021) explains in video 1, the successful talent management system includes a process of attracting talent for hiring, sorting, and recruiting excellent employees, effective learning and development system for the recruited employees to achieve business goals, formulate functioning strategies by onboarding, deploying them in the organization/ team to get the best out of the best and retaining the talent.


Video 1: Talent management and talent management processes.

(Source: Avneet Oberoi, 8 January 2021)


TRADITIONAL TALENT MANAGEMENT PROCESS.

Figure 1- Traditional Talent management Process 

(Source: Deloitte Research, 2004)


As in figure 1, the traditional talent management process, mostly look into acquiring and retaining talent. In the traditional talent management process, the responsibility of acquiring and integrating talent into the original system has been focused on HR functions. Manpower planning, recruitment and selection, learning and development, reward systems, and associate relations are traditional, functional groups. Due to several problems, traditional models were not dynamic and accurate for organizations to achieve their expected goals (Senthilkumar and Kumudha, 2011; Vishakha. B, n.d).

 

Traditional talent management system is in a reactive mode. Lack of communication between functional groups, increase inefficiencies in processes, duplication and delays in systems, confusion for employees to identify designated team-in-charge and employee's roles and responsibilities resulted in an uncertain and volatile business environment in organizations (Senthilkumar and Kumudha, 2011). Oberoi (2021) said, the traditional model of talent management was outdated due to a lack of integration and association with other organizational processes and lack of delivering elements of flexibility and accuracy.


NEW MODEL OF TALENT MANAGEMENT.


                                                    Figure 2 - Talent Management Process 

(source: Piti cited in Khzam, 2015)

As in figure 2, the modern talent management process is a continuous process than a direct approach. To overcome more issues in the traditional process, a systematic approach was articulated. The novel model includes, a series of processors streamlined to develop the entire talent management model. Organizations include these main contributors, planning, attracting, recruiting, talent development, retention, transitioning to customize their own talent management model (Oberoi, 2021).


Job roles, job descriptions, and competency models are identified as key to the process (Khzam, 2015). Workforce planning refers to business planning. To initiate business planning, organizations require to identify business strategy, hiring plans, compensation budget, and the target of hiring. Hence human capital requirement is identified for the organization. With that perception, a hunt for talent is initiated (Khzam, 2015; Oberoi, 2021). Quality of talent has a key significance over the quantity of talent. Hence the productivity of the available employees is major concern before considering new absorptions (Srivastava and Bhargava, n.d).

 

Developing a practical plan for recruitment is a function of planning. An organization’s desire is to hunt the most suitable talent from the entire talent pool. Hence the significance of workforce planning affects the entire system (Oberoi, 2021). As Senthilkumar and Kumudha (2011) explain, recruiting is getting people needed to the organization and hiring them. Recruiting is acquiring skillful people who are able to perform the job effectively and efficiently based on their job description (Ramola and Rangnekar, 2020). As Oberoi (2021) shows recruitment can either be internal or external. For an instance, a reputed airline in Sri Lanka, performs internal recruitments via a notice named SVN- staff vacancy notice, while external recruitments perform in different ways such that web portal or a newspaper advertisement. Oberoi (2021) mentioned some other means as, job listing portals, social networking sites, and employee referrals.

 

After recruiting a candidate, the development process initiates. On-boarding and orientation are included in this development process (Oberoi, 2021). On-boarding refers to train and make the employees able to be productive in the organization (Khzam, 2015). On-boarding helps the individual align with the organization, its values, mission, philosophy, policies, and practices (Senthilkumar and Kumudha, 2011). Coaching, mentoring, guiding, counseling, education and training are different onboarding and orientation means organize to enhance employees’ skills (Oberoi, 2021).


Performance management which refers to the business plan that must contain the objectives of the company make an evaluation of the employees’ performance (Khzam, 2015). Many organizations focus on contemporary performance management systems, to ensure that performance is discussed, recognized, rewarded, and understood appropriately (Senthilkumar and Kumudha, 2011).

 

As per Khzam (2015), training and performance support refers to catch high potential employees and develop their skills and their talents. As per Leczykiewicz (2013), employees may be provided more opportunities, training, and career paths. Aircraft maintenance departments in many reputed airlines, conduct numerous training programs, career opportunities for employees to make their career paths successful. Different aircraft type training and different manufacturer training are some instances. These training are beneficial for high potential employees to evolve their talents and develop their carrier opportunities.

 

Succession planning is the process of identifying, developing, and preparing the future for key talent, when they leave, die or retire (Brooks, 2020). Succession planning is about critical roles, identify as key talents in the organization, which are vital for the organization’s competitiveness and continuity (Vulpen, 2020). For example, in an airline, pilots and aircraft engineers can be identified as critical roles with key talent. The organization should have a proper succession plan for the future when this key talent leaves the organization for continuity and smooth operation to achieve business goals. A great quote by Marshall Goldsmith, who is a well-known management writer, has been cited by Vulpen (2020). “Change the name of the process from succession planning to succession development”, Marshall emphasizes that the attention should be more on development, rather than planning. In many organizations, succession planning happens with internal employees. Best employees are selected, developed, and groomed according to their succession development plans (Vulpen, 2020). For example in the aviation industry, the aircraft maintenance technical crew is trained in their own technical school. At the end of the training, the best and brightest are selected and developed gradually in many years to create a talent pool of aircraft engineers. This ensures the continuity of the workflow when employees leave, retire or die, other groomed people are lined up to take over responsibilities.


Compensation and benefits are other elements in the modern talent management model. Compensation implies the direct pay for employees in the form of salary or wage. Benefits are the indirect pay such as health insurance stock options, free airline tickets for employees who work in most airlines, or other facilities offered to employees by the employer. As Mark (2019) said, compensation is very important to attract and retain talent within the organization, while benefits motivate people.


Critical skills gap analysis or talent gap analysis is a part of the evaluation of the whole process to recognize that the organization has met the expected goals or not. If there are gaps, that will be evaluated in critical skills gap analysis (Khzam, 2015). Training and recruitment are the two identified ways to fill these gaps resulted in skill gap analysis. Organizations execute required training for employees or recruit new employees to fill gaps (Raj, 2020). The modern talent management system is a continuous process where the organization do not reach goals, then commit more on recruiting, training, developing, and retaining talent (Sullivan, 2004; Raj, 2020).


List of references:

  •   Deloitte Research, (2008). 'It’s 2008: Do you know where your talent is? Why
    acquisition and retention strategies don’t work'. New York: Deloitte Development LLC.

  • Egerová, D et al. (2013), 'Integrated   Talent Management- Challenge and Future for Organizations in Visegrad Countries',   Czech Republic by NAVA.

  • Khzam, MA (2015), Talent management Research and overview.

  • Lia, A (2020), 'Talent Development to Increase Performance Management', Mercu Buana University, Jakarta, Indonesia. 

  • Ramola. S and Rangnekar.S (2020). 'Understanding Relationship Between Talent Acquisition, Competency Mapping and Performance Management and Appraisal', International Journal of Management (IJM), vol. 11, issue. 5, pp. 1735-49.

  • Senthilkumar. and Kumudha. (2011). 'Talent Management: The Key to Organizational Success', Industrial Engineering Letters, vol. 1, no.2, pp.26-40.

  • Srivastava, R. and Bhargava, S. (n.d). 'Competency mapping – a strategic approach in talent management', Bharati IMSR Journal.

  • Sullivan, J. (2004), Talent management defined: Is it a buzzword or a major breakthrough? 13 September 2004, viewed 16 August 2021, < Talent Management Defined: Is It a Buzzword or a Major Breakthrough? – ERE>
  •  Vishakha, B. (n.d), 'Talent Management: Meaning, Features, Process and Models', viewed 8 August 2021, <https://www.economicsdiscussion.net/human-resource-management/talent-management/talent-management/32397>









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