Talent Management Essay
Case # 1 GE You are required to submit two case study reports. The two cases are listed as the required materials of this course. The main text of each report should be 6-7 pages in length. Case study report (1) is on Bartlett & McLean’s (2006) case “GE’s Talent Machine: The Making of a CEO. ” The report is due on Week 3, Saturday 11:59pm. No submission is allowed after the deadline. The main text should include two sections, besides introduction and conclusion: o Section One: A brief summary of the case and identification of the problem proposed by the case. Section Two: Answer the following questions: (1) What can we learn from GE’s talent management system? How did GE’s philosophy, policies, and practices contribute to its success in talent management? (2) Are GE’s management development policies and practices generalizable to different cultures, industries, and companies? Explain. (3) As for Jeff Immelt, how should he deal with proposals to changes of the policies and practices? What are the pros and cons of each proposed change? Provide your suggestion of the decision and explain why.
Case # 2 Novartis Case study report (2) is on Siegel’s (2007) case, “Global Talent Management at Novartis. ” The report is due on Week 10, Saturday 11:59pm. No submission is allowed after the deadline. The main text should include two sections, besides introduction and conclusion: o Section One: A summary of the case and identification of the problem proposed by the case. o Section Two: Answer the following questions: (1) How plausible is it to use one universal method for a multinational company to motivate its talent around the world?
Alternatively, how plausible is it to use one universal method for a multinational company to motivate scientists, sales, and other professionals? (2) How effective is Novartis’ world-wide standardized performance measurement systems? Should Novartis use the normal/bell-shaped grading distribution around the world? How should Novartis manage those who ranked consistently at the bottom of the distribution? (3) Talent management challenges in China. If you were in harge of the China operation, what changes would you make to deal with the turnover problem? You should submit each report with the NSU cover sheet. Submission without the cover sheet will not be graded. Grade will be negatively affected if the paper is too short or too long. The grading sheets for each case study report can be found in the appendix. Case # 3 Talent Management Analysis talent management practice analysis (20 Points) Step One: Study the textbooks, especially Cappelli (2008) and identify important talent management practices. Step Two: Compose an interview questionnaire for an HR professional that asks about the background of the interviewee, the organization’s background, and its talent management practices, especially the details about the strongest practice of the organization (e. g. , recruitment, succession plan, retention strategy, etc. ). Step Three: Identify an organization with well-established talent management practices (excluding GE and Novartis) and contact the HR professional who is familiar with the talent management practices in the organization for the interview.
Step Four: Interview the HR professional on the organization and its talent management practices according to your interview questionnaire. The interview can be either structured (i. e. , you only ask questions listed in your questionnaire) or semi-structured (i. e. , you ask questions beyond the list in your questionnaire, as led by the conversation). Step Five: Start writing. The main text of your report should include the following. A brief introduction A summary of the interview that structurally outlines (1) the background of the interviewee, (2) the background of the organization, and (3) the content of the interview.
Do not provide the transcription of the interview. o Identify one strong practice within the talent management program (e. g. , succession plan, retention strategy, etc. ) and describe the detailsof the practice. o Evaluatethe practice identified in the previous section, using the principles of the“Talent On Demond” (Cappelli, 2008) as criteria, provide your suggestion of how to improve the practice and explain your rationale. Here, view yourself as a consultant of the organization. Try to be innovative in your suggestion. o You should attach your interview uestionnaire to your report as an appendix. The text body of the report (excluding the appendix) should be 8-10 pages in length. Grade will be negatively affected if the paper is too short or too long. You should turn this work in with the NSU cover sheet. Submission without the cover sheet will not be graded. Please also keep a copy of it for your own record. The deadline of submission is Sunday 5:00 pm of Week 9 November 27, 2011. No submissions allowed after the deadline. This is worth 20 points, and will be graded in about one week after the submission deadline.
Another two effective processes will be explored in an attempt to roved a better approaches to talent management than is displayed in the case study. The sum of this paper is to evaluate Bank of America’s approach to talent management. Bank of America’s history starts in 1904 with its founder Madame Peter Gaining as the Bank of Italy in San Francisco Ca (Encyclopedia Britannica, 2015). It later became Bank of America and was originally owned by Mr.. Gassing’s holding company Transoceanic Corporation.
The current Bank of America Corporation is the result of a merger between Bank of America and Nominations on 1998 (Encyclopedia Britannica, 2015). Their current headquarters are now in Charlotte, North Carolina. From 2001 to 2008 Bank of America hired on 196 external new hires with only 24 terminations during that time. They amassed a twelve percent new hire turnover rate for new hires in comparison to the average 40 percent turnover rate with other large corporations (Goldsmith, 2010). Outline the talent management program that led to success for Bank of America.
Since the banks opening in its current form in 1998, Bank of America has been considered a worldwide leader in the financial services industry. Bank of Americas talent management and development philosophy has a core of seven principals used to guide, create and set a thought process across all of the banks executive offices. These seven principals include: 1. Leaders really do matter in managing and driving accountability, results and culture. 2. Performance Rules: Top performers, then high potentials. 3. Talent is an enterprise resource. 4. Today’s top-performing leaders aren’t necessarily tomorrows 5.
A broad set of experiences and assignments is the best classroom; yet a balanced approach is necessary for development 6. Today’s top 100 must leave a legacy of future talent by teaching, mentoring and serving as role models to others on what it takes to succeed. 7. Invest in the best and focus the rest (Knighting, 2009) As part of their method to operational their development outline they included a 70-20-10 approach to their training. This breaks down to 70 percent in experience based development, twenty percent in coaching and feedback while the last 10 percent is used for traditional learning (Knighting, 2009).
This includes an aimed metamorphosis in leadership development at every stage of their Leadership pipeline. Adding regular assessments and evaluations increases the amount of insight gained into the different experiences, leadership styles and vulnerabilities, and the ambition of the senior executives. With this combination philosophy, structure approach they have made a talent management and leadership development focused on today’s performance and preparing the leadership of the future (Knighting, 2009). Identify strengths of the program and how they led to goal accomplishment.
Some of the Bank of America Program strengths within their talent management program that have come to light research include the fact that the aerogram is focused on a specific category of employees. These employees are essentially the basis for the ultimate success of the program. The program itself is cyclic meaning it occurs in cycles and is regularly repeated, as part of their business model. This also means it does not show any signs of interruptions during the process and has not instances of individual implementations. All of the results from the program are received company wide.
This is due to the results impacting every aspect of the company, for example the operational staff, resources allocation, and the planning of the budget. In addition the program has a marked positive impact on the overall culture by inspiring a sense of empowerment in the trust teamwork and accountability found in every level of the organization, but most especially in the executive ranks. Describe opportunities for improvement in the talent management planning process. Like there are strengths to the program there is also room for improvement.
As was pointed out earlier the program at Bank of America is a well-oiled machine developed to manage the staffs at the company. However there are shortfalls in the level of planning. There is little flexibility despite being a cyclical system. Once in the program and on a set track there is no opportunity to alter this track to meet the specific needs of the employee. The program can also be highly intense. It is not unusual for the company to expect a great deal from their executives considering the amount of time it takes to reach such a position.
However any standardized program is not able to completely bring out the potential in any individual. Utilizing their program as a frame work there is room to tailor certain aspects to fit each individual as the progress and evolve. The program is also focused on the executive personnel. This leave a large gap in improvement between executives and the rest of the personnel. It provides a great opportunity for the rest of personnel to attempt to reach the executive ranks by being cognizant of their executive’s training.
It is an opportunity and perhaps a draw back as there is a definite gap in training and professional development in a system meant to encourage future leadership development. Despite this the program does accomplish preventing many of the shortfalls that other executive onboard programs fail in. It encourages the executive to continue developing as well as to seek mentoring and advice in their development. This is accomplished by providing an atmosphere that encourages it.
Ensuring development in the executive personnel can encourage the other personnel to take their own training and development more. Create at least two (2) more effective approaches to meet the talent management challenges in the future. Like the all programs in a successful company the place to start is the business strategy and combining whatever other best practices need to be soused on and improved. In the case of talent management the talent strategy should start with the end product in mind by ensuring that it is in full compliance and alignment with the business strategy.
The first sign of an effective talent management is that it is in complete cohesion with the business strategy (Welling, 2008). An effective talent management strategy requires you goals and strategies to energize the quality and quantity of personnel talent necessary. In some companies there is a belief that business and talent decisions are one and the same. Another aspect is to note that the executives should be setting up places for their replacements instead of being so worried about being on the executive board.
This goal is not to negate the hard work of being part of the board but it is to emphasize that you are to train those that work under you in order to preserve future advancement of the company. Linking both the strategy and the need for leadership to help improve and develop future leaders are the basis of a well-orchestrated talent strategy (Welling, 2008). Over all it is often best to remember the basics of effective talent management. This includes remembering to select a plan, this identifies right talent with the right competency.
Then plan the talent out by designing the right talent strategy to fit the company’s needs and requirements. Following planning the talent there is the need to grow the talent you have acquired or currently have, by developing the talent in order to build their capability (Growth Point Consultancy, 2012). Final stage is to engage your talent by retaining it with incentives such as learning opportunities that in turn energize your talent. Used in a cyclical tatter the company is able to acquire grow and maintain their talent (Growth Point Consultancy, 2012).
A strategic execution of the talent management plan include plan acquire, engage, develop, deploy, lead, retain, and measure (Growth Point Consultancy, 2012). Then it repeats over in a circle of talent management practices as a method of ensuring that the talent and business strategy are in continuous improvement evolutions. Conclusion: Though the talent management strategy of Bank of America has made a number of impressive strides to making it one of the leaders in the financial world, there re still some areas to either improve or elaborate their development strategy for.
Talent Management Essay
Talent management IT TAKES Talent to spot Talent! A tone deaf will never be able to appreciate the music of maestros. Only a seasoned jeweller would know that all that glitters is not real! And, only those who can recognise the worth of a diamond can value it, for others it’s just a stone! Talent is doing easily what others find difficult. In an organisation, there is nothing more crucial than fitting the right employee in the right position. Or else you would be trying to fit a square peg in a round hole.
When people do jobs that just don’t suit their liking, inclination or temperament, the results, or rather the lack of them, will be disastrously obvious. Low productivity, dissatisfaction, low morale, absenteeism and other negative behaviour will become typical till the employee is shown the door. Or perhaps, there is another option – Talent Management. Talent management implies recognising a person’s inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort.
It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. No matter how inspiring the Leaders are, they are only as effective as their team. A team’s output is healthy only if the members are in sync. To achieve such harmony, the key ingredient is “putting the right people in the right jobs”. While there is no magic formula to manage talent, the trick is to locate it and encourage it. Talent Management is beneficial to both the organisation and the employees.
The organisation benefits from: Increased productivity and capability; a better linkage between individuals’ efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people’s jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. So, how does an organisation effectively manage talent? Recognise talent: Notice what do employees do in their free time and find out their interests.
Try to discover their strengths and interests. Also, encourage them to discover their own latent talents. For instance, if an employee in the operations department convincingly explains why he thinks he’s right even when he’s wrong, consider moving him to sales! Attracting Talent: Good companies create a strong brand identity with their customers and then deliver on that promise. Great employment brands do the same, with quantifiable and qualitative results. As a result, the right people choose to join the organisation.
Selecting Talent: Management should implement proven talent selection systems and tools to create profiles of the right people based on the competencies of high performers. It’s not simply a matter of finding the “best and the brightest,” it’s about creating the right fit – both for today and tomorrow. Retaining Talent: In the current climate of change, it’s critical to hold onto the key people. These are the people who will lead the organisation to future success, and you can’t afford to lose them. The cost of replacing a valued employee is enormous.
Organisations need to promote diversity and design strategies to retain people, reward high performance and provide opportunities for development. Managing Succession: Effective organisations anticipate the leadership and talent requirement to succeed in the future. Leaders understand that it’s critical to strengthen their talent pool through succession planning, professional development, job rotation and workforce planning. They need to identify potential talent and groom it. Change Organisation Culture: Ask yourself, “Why would a talented person choose to work here? If the organisation wishes to substantially strengthen its talent pool, it should be prepared to change things as fundamental as the business strategy, the organisation structure, the culture and even the calibre of leaders in the organisation. A rightly managed talent turns out to be a Gold Mine. It’s inexhaustible and priceless. It will keep supplying wealth and value to the organisation. In turn, Management needs to realise its worth, extract it, polish it and utilise it. Don’t hoard Talent- spend it lavishly, like a millionaire flashing his luxuries, because Talent is Wealth!
Talent Management Essay
Describe three effective ways to develop talent within your current or former organization and how they would support the organization’s goals. List each organizational goal and whose responsibility it might be to develop the talent associated with that goal.
Time Warner Cable Business Class has developed our account managers to take on a consultative approach when selling their business product. Prior to working at (TWCBC), I had very little sales knowledge. My background was customer service. We were trained to be effective sales individuals. What TWBC did was bring in a large group of trainees. They used an extensive sales training curriculum, to build our skills. Once we were able to take on daily incoming calls and meet our targeted daily/monthly quota. Management still felt we were leaving out opportunities. Now we have weekly one-on-one sessions (coaching), where we listen to the prior weeks calls to determine what our weakness or strengths are. This has been the most effective in my opinion, compared to the various trainings we have had in the last three years.
My example above explains the how has been developed. It starts with HR/Training, First-line Managers and then the employee. Information above our talent had to be developed The three effective ways to develop talent within your current or former organization would be to develop an effective approach
Goldsmith, M., & Carter L. (2010). Best practices in talent management: How the world’s leading corporations manage, develop, and retain top talent. San Francisco: Pfeiffer. Silzer, R., & Dowell, B. (2010). Strategy-driven talent management: A leadership imperative. San Francisco: Jossey-Bass.