It is very important that all managers know how to recruit, identify, develop, and retain talented staff. Talent Management is defined as “an organizational approach to leading people by building culture, engagement, capability and capacity through integrated talent acquisition, development, and deployment processes that are aligned to business goals.” (American Society for Training and Development). It is a strategic imperative to ensure that we are properly resourced in Human Capital to meet our goals and fulfill our mission today and in the future.

Workforce demographics tell us that we will lose a significant percentage of our workforce as baby boomers retire, and there are not enough people in the workforce to replace them. Sixty percentage of today’s jobs require skills possessed by only 20% of the workforce. Therefore, we must do our best to identify and develop our talent, and to provide the incentive for them to stay in the organization.

The key concepts of Talent Management are:

  • Strategic management of the flow of talent
  • Future-focused
  • Senior management involvement is critical
  • Cuts across silos and levels
  • Covers the entire employee life-cycle
  • Emphasizes inclusiveness
  • Embedded in the organizational culture
  • Uses technology to identify and track talent

Module 1: Talent Development

At the organizational level, this requires a broad strategy for developing talent at all levels and roles in the organization. Each manager/supervisor is responsible for encouraging and supporting the development of their staff members. This can be done formally as part of the annual performance management cycle, and reinforced regularly. The “New Directions in Performance Management” and “Coaching for Performance and Development” classes in the ESI TM program will provide supervisors with detailed guidance.

Module 2: Succession Management

Succession management involves a systematic process to identify and develop individuals with the potential to advance in the university. Focusing on the development of key skills prepares you for a variety of future roles. We must ensure that we have a pipeline of diverse, talented, engaged, top performers. For more information on Talent Management and Succession Management, refer to the ESI TM on performance management.

Module 3: Knowledge Management
As we lose members of our workforce due to retirements or layoffs, we are also losing historical and critical knowledge. The steps to retaining this knowledge include:

Identify the critical knowledge
Identify who possesses the knowledge
Determine tools and systems to capture knowledge
Design strategies to transfer knowledge

Last modified: Tuesday, 18 February 2020, 04:00 PM

ESI Institute of Management

ESI Institute of Management

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