How to Build an Integrated Talent Management Strategy
The human resource professionals are the cornerstone of any organizations. They not only solve business problems today but also participate in strategic aspects of the organization; talent management is one of them.
Formulation of a talent management strategy is the responsibility of the HR function. This is often done in consultation with the business function. Be it talent mapping and planning or performance, recruitment and retention the human resource professionals of the day are seeking out ways to streamline and integrate their functions with the broader business functions.
In Aditya Birla group, for example there is huge dearth of leadership positions at the top. The company is expanding globally and at a rate faster than it can grow its human capital. This has lead to talent deficit and this is common in many organizations. The problem requires a comprehensive set of solutions.
Again in the same organization as mentioned above, people are empowered very early in their careers to give them more responsibilities and build more competencies in employees. This enables to develop high potential personnel. The organization runs an internal programme IDventure where they promote entrepreneurship. You have an idea; you come forward, share and develop a comprehensive business plan. The best plan receives a support from the organization!
Needless to mention now, organizations require an integrated approach to talent management. There is a need to strategize in HR functions to enable and support the business functions. Some strategies in this direction could be:
- Aligning Business strategies with the HR strategies: Business HR is one function that is developing fast as part of the human resource department. The person is responsible for ensuring a smooth relationship between business and HR functions. They work with business heads to develop people strategies to support both short term and long term business objectives.
- Performance Planning and Evaluation: An integrated HR approach means that are uniform and standard procedures for employee performance evaluation and compensation, up and down the organization. Performance is linked to growth and the process adds value for employees to evaluate their work on their own. Indian digital disk giant Moser Baer employs such process.
- Strategic Manpower Planning: HR and Business function are interrelated. None can exist without the other. HR functions need to work in collaboration to assess current and future manpower requirements are plan for the same. They need to strategize on the approximate manpower requirements, the relevant skills and educational qualification, compensation and the like. This has to happen well in advance. Recruitment itself means a host of other activities like training and development, compensation, induction and orientation etc.
- Mapping your Talent: An ever increasing emphasis is being laid on identifying the top performing and talented employees to think of ways to develop, nurture and retain them. Further organizations also like to keep skill inventories for contingencies. As organizations realize the skills and abilities of individuals, they can then be more focused on devising means and strategies to attract, develop and retain these people.
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