Week 10 HRM 532 Assignment

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Strayer University *

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532006VA16

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Management

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Feb 20, 2024

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HRM 532 Week 10 Assignment Sustainable Talent Management Strayer University Moneak Johnson Dr. Margie Hardwick December 11, 2023

The selection of a performance management approach to evaluate the talent of employees is going to be the topic of discussion in this article. We are going to conduct an in-depth analysis of the fundamental ideas that are associated with talent pools and the process of talent evaluation. The acquisition of functional competence will be evaluated in order to formulate suitable targets for talent management. The purpose of this analysis is to evaluate the essential aspects of global talent management in respect to the firm under consideration. In order to improve a talent management process that is sustainable, an effective method is required. Talent management continues to be a pressing and challenging issue for business leaders worldwide, particularly in the field of human resources. There are certain challenges that organizations face on a global scale, such as an increasingly aging population and a competitive battle for skilled professionals (Lockwood, 1). It is crucial to identify the most effective approach to address these issues and incorporate top-notch solutions into a highly successful talent management strategy. Determine which performance management process you will employ to measure employee talent. Establishing an effective work environment where individuals have the chance to excel to their fullest potential is what is known as performance management. Performance management is a thorough work system that begins with the establishment of a required job. It comes to an end when an employee leaves your organization. To determine the most effective performance management process for measuring talent, it is important for the organization to have a thorough understanding of which process aligns best with their company's needs and goals. Performance management involves three essential stages in employee development: coaching, corrective action, and termination. An optimal strategy for companies would involve implementing a coaching process to evaluate the capabilities of their employees. The first phase of coaching involves providing guidance, instruction, and motivation to employees. During coaching, a strong emphasis is placed on establishing clear expectations and performance standards. This ensures that employees at all levels receive consistent and valuable feedback on their performance. The focus is on motivating employees to challenge themselves and aim for constant growth. In the performance management process, effective coaching creates an environment that encourages the rapid development of new job skills. Recognizing and evaluating employee talent is an essential skill. When it comes to evaluating and grading goals, organizations have a remarkably broad range. If organizations were easily measurable or prioritized, companies could utilize AI systems instead of individuals to perform tasks. Fortunately, businesses and individuals reap significant advantages from having exceptionally talented employees who bring their expertise and abilities to assist the organization in attaining its strategic goals. Comprehending businesses necessitates a more profound examination, as responses may not always encompass all the intricacies, like potential hazards. Many people often oversimplify performance management. According to Lockwood (1), the general agreement is that it mainly focuses on measurements, targets, and KPIs. For example, a feedback model is utilized to assess an employee's performance and ascertain whether they have made any advancements in their role.

Analyze the key concepts related to the talent pools and the talent review process . The human resource department is tasked with a variety of responsibilities. HR should not only possess the ability to address specific human capital challenges, but also play a crucial role in safeguarding the organization's success in the face of future difficulties. One of the key challenges that a company may encounter is the need for highly skilled and capable employees. Developing a talent pool and managing talent on a global scale has been recognized as a crucial endeavor. Researchers have highlighted the significance of highly skilled individuals as one of the most valuable assets in the world (Beheshtifar, 2). Many companies are facing a significant shortage of skilled individuals. Due to unexplained circumstances, a significant number of skilled individuals have departed or are in the process of departing, posing considerable challenges for companies in attaining their immediate and future objectives. A talent pool is comprised of individuals who have been acknowledged for their ability to handle more significant duties. People who are part of a talent pool often have a wide range of abilities and attributes, which makes them suitable for different positions within a firm. A technique that management can utilize to evaluate and select individuals for inclusion in the talent pool of a company. A different method entails using an unbiased evaluation, like a multilateral assessment, to identify individuals who have the required abilities to handle future responsibilities as assigned. During the course of the last several years, a talent assessment has emerged as a management method that is becoming more fashionable. The review process is crucial for developing a comprehensive understanding of the firm's leadership and strategy, which allows for effective addressing of both present and future requirements. The review is also used to evaluate the overall health of the organization's leadership talent pool. A talent review can also be used to evaluate the knowledge and skills within a company on an individual level, with the goal of identifying and addressing any noticeable gaps in leadership requirements. Develop appropriate talent management objectives to measure functional expertise. Beginning with the desired outcomes and working your way backwards is a proven strategy for defining the goals that will be used to assess functional competence. It is crucial for a talent strategy to closely align with the firm's business strategy. This ensures that the business goals and strategies of the firm determine the necessary talent, both in terms of quality and quantity, to effectively run the business. Successful organizations understand the importance of aligning succession management strategies with overall organizational strategies. These organizations understand that business success often depends on having the right talent in the right place at the right time. Many successful companies are actively addressing their talent needs (Silzer, 5). It is important for talent managers to acknowledge the contributions of process and service partners, as well as guides and advisory individuals, when evaluating talent. Effective talent management plans are typically implemented by HR departments that receive strong support from senior management. This support includes providing the necessary resources, budget, and communication (Silzer, 5).

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In certain instances, it is considered advantageous for the HR director or head to establish a strong presence and maintain regular communication with upper management. It is preferable for them to maintain open lines of communication and actively participate in both the business strategy and the talent management strategy, ensuring upper management's involvement as well. Support from upper management is crucial for making the functional expertise focus more identifiable. The objective is to secure assistance in order to guarantee achievement. Assess the key elements of global talent management as they apply to your organization. Key components of any effective global personnel management strategy are universal across all industries and types of businesses. These elements are applicable to global talent management in various industries. The essential elements or principles involve aligning strategies between talent management and business strategies, maintaining internal consistency throughout the organization, fostering a strong organizational culture, and ensuring management involvement. These elements are commonly found in every firm. To ensure that there is a full alignment of a company's business plan, people management strategy, culture, and policies, as was discussed previously in the text of this article, total alignment is essential. Many firms have discovered the value of strategic flexibility, a crucial asset. For an organization to maintain successful operations, it is crucial to be adaptable and capable of navigating various business and international circumstances. Effective communication within the organization is crucial for maintaining internal consistency in policy and talent management strategy. Implementing practices in segregation within a firm goes against the logic of keeping policies that could benefit the firm confined to one department, rather than benefiting the company as a whole. Consistency plays a vital role in the success of any strategy. The other important factors are essential for developing a robust and adaptable talent management strategy. These elements are often considered fundamental in business. However, there must have been a specific instance that prompted someone to identify them as crucial elements. Recommend a process that optimizes a sustainable talent management process. Achieving an effective talent management process requires more than just a simple implementation. It involves careful planning and execution of a well-thought-out strategy. One of the most valuable processes to implement is maintaining a current talent review process. This process is essential for effective succession planning, and it is highly recommended that companies consistently incorporate three key attributes to promote long-term sustainability. These essential qualities include aligning with business strategy, maintaining process integrity, and actively participating in talent review sessions. While the business strategy alignment has been previously discussed in depth, there has been a lack of information regarding the process integrity and talent review attendance.

According to (Silzer, 5), the term "process integrity" refers to the consistency and quality of the process across the whole organization, as well as the trustworthiness of the talent data that ultimately results from this consistency. A successful firm is built upon a strong foundation that encompasses both high performance and integrity. Ensuring a consistent approach to identifying high potential leaders can result in a wealth of reliable talent data. The Talent review attendance is where the key individuals for the talent review participate. The process of enforcement can be both straightforward and intricate. It is essential to have HR and leadership consultants, along with the heads of your business components, come together to evaluate and discuss the impact and advantages of the talent management strategy implemented so far. This will help identify any adjustments that may be required to ensure that the talent and business are effectively aligned with the company's goals for optimal success. The review facilitates collaboration among all members of management and HR to address any necessary changes or updates to the management strategy. Conclusion In order to guarantee that each individual's abilities continue to grow and contribute to the overall success of the company, it is necessary to conduct frequent reviews and evaluations of the talent management plan at regular intervals. Enhancing the talent management approach and making full use of its flexibility may be accomplished by repeatedly performing these numerous processes. References

1. Lockwood, N. R. (2006). Talent Management: Driver for Organizational Success. Alexandria: 2. Beheshtifar, M. (2013). Talent Pool: A Main Factor to Success. INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS, 307-313. 3. Wellins, R. S., Smith, A. B., & Erker, S. (2006 updated 2009). Nine Best Practices For Effective Talent Management. Development Dimensions International, Inc . 4. Talent Reviews and High-Potential Identification . (2011, January 1). http://books.google.ie/books? id=ZpxU0AEACAAJ&dq=Talent+Reviews+and+High+Potential+Identification&hl=&c d=1&source=gbs_api 5. Silzer, R., & Dowell, B. E. (2009, November 23). Strategy-Driven Talent Management . John Wiley & Sons. http://books.google.ie/books? id=rEAkAwAAQBAJ&printsec=frontcover&dq=Strategy- Driven+Talent+Management&hl=&cd=1&source=gbs_api

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Week 10 HRM 532 Assignment

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