The Future Of Talent Management

Talent management metrics link human capital investment to financial performance. According to management gurus Huselid, Becker and Beatty 2005, there are critical challenges to successful workforce measurement and management. Talent management metrics are evolving. As organizations increasingly focus on talent management strategies, they seek ways to validate these initiatives and measure their business impact. Many firms are beginning to include talent management in their dashboards or scorecards. Scorecards provide a clear “line of sight” to organizational strategic goals by linking talent management to objectives and performance appraisals. Measures may include factors such as employee survey results and turnover. Companies also create their own measurements to fit their organizational cultures. Increasingly, talent management technology to house and track talent management strategies is becoming available. Databases with all relevant data in one location can result in significant time savings for staffing, such as the ability to quickly identify talent for open positions. Some vendors include talent management solutions in their HR suites. Strategic talent management software may help manage workforce

This paper is going to describe OCBC’s unique approach to talent management and development. Compare OCBC’s approach to talent management and development to other organizations you are familiar with (e.g., current or past employers, a family business). Explain how OCBC’s approach to talent management and employee development been a primary contributing factor to the firm’s success. Evaluate the extent to which OCBC’s approach to talent management and development fits other organizations or industries, including some limitations if applied elsewhere without modification.

D. Consequences for recruitment and retention of top talent: Matthew Rice’s article outlines the compensation and talent strategies that minimize employee turnover. Talent audits are used to identify top performers, investing in employee engagement strategies to improve retention of the existing team, and eliminate employees’ reasons to leave by offering job activities and development opportunities, and this because: “A talent audit is a critical first step in understanding your risk profile and where you need to invest time, energy and capital to limit your turnover risk” (Rice, 2011, p. 32). If applicable, describe any consequences this scenario has had for the organization 's ability to recruit and/or retain top talent. The research provides insight in how changes in

This report has been written on Talent Planning, within this report the following will be indentified and assessed: At least four ways that affect the organisations approach to attracting talent, three organisation benefits of attracting and retaining a diverse workforce, three factors that affect an organisations approach to recruitment and selection methods, three purposes on induction and how they benefit individuals and organisations and I will include our organisations induction plans that will identify areas covered in the plans, including timelines and those involved in the process.

While it is certainly important to acquire new talent for the organization, it is worthwhile investigating what talent is already available within the organization and if these can be used

The CIPD defines talent as those individuals who can make a difference to organisational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.

For an organisation to attract talent successfully, as part of the talent planning policy it needs to identify and assess what factors affect its approach to attracting talent. For example:

In much the same sense, there is a very high cost to employers who have poor talent management practices that result in high employee turnover and a substandard talent pool. Both turnover and poor quality talent end up being much more costly to employers than investing in their most important asset - their talent – in the first place. Employers who adopt competitive compensation packages, innovative employee recognition programs and employee development initiatives can more effectively foster a positive work culture that is essential today to attract and retain “game changing” talent.

Organisational success depends on having the right skill mix. This unit provides an introduction to resourcing and talent planning process. Studying this unit will enable learners to understand the factors which impact on an organisation’s resourcing and talent planning policy. They will learn about the relationship between recruitment and selection by identifying the key stages

Retention of crucial talent is the key to the continued growth and success of business that it is well worth investing the time and effort into ensuring these individuals are happy to stay put and develop within the company instead of looking elsewhere for 3.2 Staff Commitment, Competence & Development and Retention of talent

Silzer and Dowell (2010) define Talent Management as “ an integrated set of processes, programs, and cultural norms in an organization designed and implemented to attract, develop, deploy, and retain talent to achieve strategic objectives and meet future business needs” (p. 18). And lists the following as components necessary for a talent management program strategy: recruitment; selection;

During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:

Allen, D. G., Bryant, P. C., & Vardaman, J. M. (2010). Retaining Talent: Replacing Misconceptions with Evidence-Based Strategies. Academy Of Management Perspectives, 24(2), 48-64. doi:10.5465/AMP.2010.51827775

Talent management is the integrated and systematic process of attracting, engaging and retaining key employees and potential organizational leaders. The main objective of the talent management is employee performance evaluation.

Talent acquisition is defined as the “strategic approach to identifying, attracting and onboarding top talent to efficiently and effectively meet dynamic business needs” (Erickson, 2012). Talent acquisition has the unique role of ensuring job applicants not only have the right credentials for the job, but also have the right mentality for the job. In other words, the person who ultimately will be offered the job needs to ‘fit’ within the firm’s structure and culture.