Common Change Management Errors (72)

Not Realising Importance Of Talent Management

not realising importance of talent management.

"...talent management is the company's ability to acquire, develop and retain high performing individuals to accomplish current and future business goals and implement strategic initiatives to improve the practices of talent management..."
Manish Verma, 2021

Talent management can be divided into 3 main stages of an employee's lifecycle in an organisation

a) talent acquisition (an organisation attracts, identifies and recruits high potential individuals for positions in the organisation)

b) talent development

("...Organisations nurture and grow their employee skills for the current and future needs, such as improving productivity, revenue, margins, market share and achieving a higher growth rate......important focus on leadership succession..."
Manish Verma, 2021)

c) talent retention

("...organisations motivate high performers to stay engaged with the organisation and this in turn reduces talent attrition, thereby reducing the impact organisation performance..."
Manish Verma, 2021)

Some digital trends impacting talent management (2021):

a) strategic workforce planning technology (linking the talent strategy with the organisation's strategic objectives; using intuitive data analytics systems to integrate data points around work performance, demographics, talent moves, labour costs, etc as a basis for modelling where and how to spend resources to drive performance, effectiveness, efficiency, equity, etc. this can help to accurately predict what talent to hire, ie where, when and at what cost.)

b) talent acquisition and on boarding technology (helps deliver the right fit and to reduce bias; there is a move away from traditional recruitment and hiring channels to a multi-channel strategy that includes

"...Online job portals, internal referrals, collaboration with universities extensively......large part of the recruitment and on boarding process has been automated to remove bias, improve efficiency, increased factual insights to candidate's quality and effectiveness and improve access to company information..."
Ilja Rijnen, 2021

The aim is to automate, centralised and simplified. Consequently, many processors have become standardised, assessable, intuitive and user-friendly to allow a smooth staff experience, using technology.)

c) enhance employee experience by technology (organisations need to demonstrate that they value their staff by helping them succeed in their personal purpose and career goals, including personal rewards, flexible benefits, health and well-being, etc

"...Analysing data to help organisations better understand their workforce and its priorities, identifying high-potential employees, to decode the inner workings of a team, measure engagement, and even proactively predict and prevent turnover..."
Ilja Rijnen, 2021

Expanding data analytics beyond numbers and metrics to include behavioural insights has helped strengthen retention and design relevant people-appropriate policies.

d) narrowing the skill gap through technology

("...effective learning and development (L&D) programs and leverage in learning technologies for scale, such as artificial intelligence (AI, AR/AV and blockchain). Technology can enable the development function to be agile. It can help in integrating learning delivery processes and standardising systems' processes, whilst creating a personalised continuous learning environment. This enables learning to occur quickly, efficiently and in a cost-effective manner, based on real insights of the workforce..."
Ilja Rijnen, 2021

In addition to low-cost, it provides easy access, anytime-anywhere, and just-in-time.

Technology allows

a) learning skills through gamification, ie
"...where learning of relevant skills is being presented in the form of small, multi-player games complete with leaderboards..."
Ilja Rijnen, 2021

- b) social learning, ie
"...where individuals or teams are encouraged to interact through forums to work collaboratively to solve business problems..."
Ilja Rijnen, 2021

These virtual discussions can be made accessible, via technology, to a broader audience. This can result in creating learning circles that can be used to solve problems in daily operations.

with technology, we need to remember that not 'one-size-fits-all'.

Talent Management Process