Talent is a precious resource if we look at all businesses or organizations. It is probably the most precious resource of all. The success of an organization depends on the quality of the talent pool it has and the leadership to leverage the different strengths of the team. If we want to buy property, the 3 most important things to pay attention to is Location, Location and yes, Location. If you want to invest in a company or predict the success of the company, the 3 most important factors are Talent, Talent and Talent! 🙂
How do we build a Talent Management Framework or Architecture?
We can look at the overall framework in terms of 4 broad areas:
- Philosophy, Guiding principles and beliefs about Talent – what are the organization’s beliefs about how talent management should be done?
- Governance – Who will be accountable and responsible for managing and developing talent, what structures should be put in place to drive and ensure that talent is being monitored and developed?
- Process – How would we define what talent is, how to manage the development of talent
- Tools – What tools can support us in the Talent management and development process
Philosophy, Guiding principles and Beliefs about Talent
To find out what are the guiding principles, the Talent manager can draw up a preliminary list based on his or her own take of what the principles should be and discuss it with her boss and subsequently with the leadership team. This make take a number of conversations until the principles are refined and crystallized. Integration with the corporate values should be made as well so that there there is alignment to important values of the organization. For example, some of the principles could be:
- Commitment to shared talent across the business lines
- Leaders must lead by example through serving as “teachers” or mentors to develop future leaders
- Talent development is competency based and behavior based (e.g. talent is assessed based on observable behaviors)
- Talent management and development efforts are driven from corporate or organizational strategy (e.g. strategy chosen defines the kind of talent needed and the development actions emphasized)
- Culture and values fit to the organizational culture in selecting talent as talent pools will be the future cultural ambassadors and stewards of the culture
This is primarily about who and what their responsibilities are. What committees or groups need to be formed in order to manage the talent selection, assessment, development and monitoring process? This may involve formation of Talent council or steering committee at a regional level and global level. The roles and responsibilities of the group has to be spelt out and committed to. For example the Talent council or steering committee is responsible for reviewing talent and deciding where to move high potential talents to for development, assigning projects for the hi-potentials as well as assigning mentors and sponsors for strategic assignments.
Processes are the operational actions to keep the system running. This would involve things such as frequency of talent reviews, who participates in talent reviews, how to nominate hi-potentials, criteria to select the hi-potentials, assessment process, development options and metrics to measure the effectiveness of the talent management efforts of the organization.
Tools enable the process. This usually involves having a Talent management system such as Success Factors, WorkDay, SumTotal, etc. that facilitates the storage of talent profiles of every employee and allows easy searching and data entry by the different stakeholders in the process ( e.g. line managers, employees, HR, senior management). It also enables monitoring through talent metrics to assess effectiveness of the organization’s talent management efforts. Templates and communication tools fall under this category as well.
What are your thoughts and views about the above framework? Would love to hear your comments