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:
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