Archnahr
Consultant, Writer And Trainer
Vijaychandbdv
Hr Executive
+1 Other

Dear friends, Please help out on this Topic" Talent Transformation and Management Strategies" its really urgent Thanks and Regards Vijay Chand
From India, Hyderabad
Hi Vijay, This is very vague, the subject you are seeking information is very vast. Kindly get into the specifics and may be i can help you on this. Regards Srikanth
From India, Hyderabad
Dear Srikanth,
i want to Know some inputs on Talent transformation and Management Strategies, Frame works, E-learning, Other innovations on the Talent Transformation Techniques
Thanks and Best Regards
Vijay Chand

From India, Hyderabad
Here you go with the details related to Talent Transformation and Management Strategies.

Hope it will be of help, if you need more info on this, just let us know.

Talent Transformation:



By: Dr. John Sullivian.


All around the globe, the transformation of traditional staffing into talent management is happening among leading organisations. Like many evolutionary changes this one got off to a slow start, but as John Sullivan writes, it is picking up momentum exp onentially

Driving the transformation of talent management is the realisation by senior leadership that talent – as much as and if not more than technology – is the driver capable of increasing or limiting the capability or capacity of the organisation. Supported by the select few HR professionals who ‘get it’ and a host of talent imported from other functions, these organisations are going where none have gone before, establishing new practices that demonstrate talent management is as much a science as any other management discipline.

Capability and capacity planning

At the core of this transformation is the application of a science known as capability and capacity planning (CCP), long used in other areas of the business, to the macro-level talent pool that makes up the organisation.

Capability and capacity planning from the talent management perspective is all about balancing the ‘load’ of labour needed by an organisation to meet or exceed its strategic objectives with the optimal mix of ‘resources’ capable of doing so. The appearance of CCP in the staffing world is not entirely new, but the current scope to which it is being applied is. For organisations that have used metrics to govern the allocation of recruiting budget to recruiting sources that have a proven capability of producing hires and a capacity to meet projected headcount needs, CCP is already in use in a limited way.

Expanding the scope of CCP to govern all of the interrelated activities that create the inventory and manage the deployment of talent present in the organisation brings us to the modern day practice of talent management.

The most common pushback

Every time a conversation turns to managing the inventory of talent present in an organisation, someone with an archaic perspective will undoubtedly speak up and proclaim that people are an asset unlike any other, and that they cannot be managed using the same approaches that an organisation uses to manage a desktop computer or copy machine. Every organisation, including those on the leading edge in the area of talent management, has at least one such individual, even though they may be closeted and out to only a few select friends and colleagues.

For those who feel this way, the writing is on the wall: early retirement may be for you. While people are individuals and each is unique, they, like every other resource in use within the organisation, have:

A lifecycle. Historically, it was true that an employee would remain loyal to an organisation throughout their lifetime; however, this is no longer the case around the world. Employees, like all assets, have an employment lifecycle which can be forecasted. This lifecycle, like all assets, has a ramp-up period, a period of stable production, a period of declining production and a final period of obsolescence or death.

Maintenance needs. Just as the gears which drive the transmission in your car need transmission fluid to keep them moving as well as other services throughout the stages of their lifecycle, employees need periodic maintenance to keep their skills in line with current needs and updates in the employment offer to meet changing life needs.

Defined capacity. This characteristic more than any other drives the most common pushback that people are not machines; however, it is also the one where humans are most like machines. A machine on the manufacturing floor can only be as productive as it was designed to be, and cannot be pushed to accomplish any more without modification. In a similar fashion, most mechanical machines cannot be run at maximum output indefinitely without negative impact on the lifecycle of the machine. Most employees could not work a 120-hour week indefinitely, but a number have proven it can be done on a short-term basis.

Defined capability. A monochrome laser printer cannot print pages in color, although it can try. Likewise, an employee who is skilled in financial planning could not successfully perform brain surgery, although they could try. With modification, it is possible that the laser printer could print in color and that the financial planning professional could successfully complete brain surgery, but at any given time the asset does have a defined capability.

Cost/benefit ratio. The final characteristic that makes managing human assets similar to managing other assets is the fact that each has a cost/benefit ratio. Much like a new machine, an employee in his or her prime can produce significantly more than a machine that is in need of maintenance. Combine this with the fact that as experience increases, so too do the costs associated with maintaining the asset. At some point in time, the cost will equalise with the benefit, at which point experience no longer demonstrates value.

Talent resource planning in practice

With the understanding that talent can be managed on a macro level like any other asset, let’s turn our attention to the leading practice in the area of talent management, talent resource planning. Talent resource planning is the application of CCP to the inventory of talent that comprises the organisation. The analysis which drives it looks at:

• The capability and capacity of labour needed to achieve the strategic objectives of the organisation.

• The capability and capacity of the current talent inventory.

• The gaps that exist between the two.

• The methods capable of filling the gaps.

• The disaster plan should any of the methods fail to close the gaps in the time allotted.

As with all CCP analysis, constant attention is paid to maximising benefit while minimising cost. (Most organisations miss the maximising benefit part, opting instead to focus solely on cost containment. It is after all easier!)

Cost/benefit analysis and managing the talent inventory

One of the questions that arises when analysing the methods capable of filling the gaps in an organisation’s talent inventory is, which method produces the greatest cost/benefit to the organisation?

It is widely accepted that there are only two methods of augmenting the inventory of skills present in your organisation. The first method is to acquire new skills through recruitment and outsourcing, or the second method is to develop them through training and development activities.

As anyone who has ever baked a cake, painted a house, or built a piece of furniture can attest, sometimes it is cheaper to build or develop from scratch than to acquire something ready to use. When you procure something that is ready for immediate use, you pay a higher margin – after all, whoever sold it to you has to derive some value for doing the work for you. The same is true with talent in an organisation: acquiring talent may be more costly than developing it, but it also may not be. In a talent management organisation, a robust analysis coordinates both the distribution of labour and methods used to produce talent resources.

Distribution of labour

In the modern organisation, it is essential that any analysis into the cost/benefit of building versus buying talent looks at all of the possible resources that can be utilised by the organisation to accomplish work, hence the inventory is not just comprised of full-time permanent employees. In a leading-edge organisation, decisions must be made using data as to what type of resource makes the most economic sense to distribute work to.

Common types of labour include: standard full-time or part-time employees; contractors; consultants; outsourcers; and strategic partners.

Data needed to power talent resource planning

Talent resource planning and talent management in general requires that functions within HR coordinate, and work together at levels few organisations have ever witnessed. This interdependence on one another drives analysis and actions that have the potential to profoundly impact the bottom line of the organisation. Unfortunately, getting people who are used to working in a vacuum to work in an integrated environment isn’t easy.

To help get you started, following are some of the types of data that will be needed to help you power a talent resource planning initiative in your organisation:

Data needed from business development:

• Prioritised list of strategic business objectives.

• Market projections associated with each objective.

• Projected monetary impact associated with only partial attainment of objectives or delays in obtaining objectives.

• Defined capability and capacity of all current strategic business partners.

Data needed from operating unit leadership:

• Forecasted change in skills inventory necessary to accomplish strategic business objectives relative to the operations of the unit.

Data needed from finance (vendor relations):

• Defined capability and capacity of all current contractors, consultancies and outsourced service providers approved for use.

Data needed from staffing:

• Projected cycle times to source, screen, offer, and hire talent needed according to skill type and mastery level needed.

• Total projected talent acquisition cost according to skill type and mastery level needed.

• Total compensation expectations according to skill type and mastery level needed.

• Historical time to minimum productivity for new hires according to skill type and mastery level needed.

• Historical short-term turnover rate or new hire failure rate according to skill type and mastery level needed.

Data needed from training and development:

• Cycle time to develop needed skills profile, according to skill type and mastery level needed.

• Cost to develop skills profile by resource needed.

• Availability or timeline of development resources capable of augmenting current inventory.

• Success/failure rate of development resources to develop mastery level required.

• Risk of immediate turnover post development.

• Total compensation expectations of employee post development.

Conclusion

In an era of true global competition, remaining competitive comes down to managing the capability and capacity of your organisation to meet the demands of your target customers – an activity that is largely dependent upon your ability to recruit, retain, motivate and develop your workforce accordingly.

All the best

Archna

From India, Delhi
Srikanth,
I too want to know few things on talent transformation and management strategies.
--What are the IT companies who are doing talent transformation
--How it is different from other treats
--DO talent transformation is effective in organisation.
Please help me out with above querys as it will help me out in doing thesis work.
Warm Regards,
Chaithanya.Dv

From India, Hyderabad
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