Elements of an effective talent management system

Future of organizations lies in the effectiveness of their talent management practices. Talent management encompasses six basic components:  1) talent acquisition; 2) talent development; 3) talent deployment; 4) talent engagement; 5) talent retention; and 6) talent exit management. However, management of these components is not an easy job. There are many challenges which must be overcome on timely basis. Here is the description of some of those challenges with suggested solutions:

• Leadership has a crucial role to play in the management of talent. If top management does not lead the function of talent management and leaves it to the domain of middle management, then it must be ready to see the initiatives failing and results kissing the disappointments. Top management must understand dynamics of the talent. Leadership must provide vision – an effective and efficient vision, and ensure strategic alignment. It is not domain of anyone else. Secondly, it is not optional, it is mandatory. After providing vision, leadership has to monitor progress towards achievement of the vision. Talent management is a tool. However, leadership often fails to ensure provision of right tool (aligned with the vision) at right time. Solution: Lead from the front.

   

• Strategic orientation of the TM activities – TM activities often slip away from the main course and lose alignment with the strategic goals. Solution: Alignment can be achieved through practices of testing and continuous improvement.
• Human is very complex. Talent + excellent communication skills = inflated talent; while Talent + poor communication skills = deflated talent. Often you confront high degree of delusion. When you happen to find reality, it is often too late - damage has already been caused and irreversible loss incurred. Solution: Use multiple checks and tools to overcome this challenge.
• Talent acquisition is easier but retention is very challenging. When talent leaves, it does not leave alone. It takes away lot more than what you expect to lose. Solution: No single solution exists. Try a combination of different strategies: 1) develop social bonding in the organization;  social bonding often proves an effective tool for managing retention; 2) use talent not only to attract talent but also to retain it; 3) employ knowledge management solutions to capture tacit knowledge to all possible extents; 4) ensure clear and open communication and make sure that no rumor factory is operating in the organization; 5) ensure transparency in the operations; and 6) monitor barometer of organizational politics and intervene timely basis – organizational politics is a depleter of talent.  If your organization is suffering from organizational politics, then it is clearly evident that your talent management system is highly vulnerable.
• Ready-made instruments often fail to ensure organizational-fit. It is because every organization differs in nature, size, complexity and culture. Solution: Customization offers solution. During customization, involvement of relevant key stakeholders improves fit.
• Measurement of efforts and results is often a difficult and cumbersome job.Solution: Use HR analytics and other solutions. Make use of appropriate technology as a facilitator.
• Poor compensation policies and strategies prove counter-productive for the talent management solutions. This situation breeds organizational politics and pushes the talent to fly. Solution: Devise compensation policy and strategy carefully. Keep watch of the spill-over effects of all of such policies. Intervene on timely basis. Keep fine tuning them.
• Harassment and abusive supervision are big killers of productivity and depleters of talent. Abusive supervision is a contagious disease (and creates harassment) – once started, it keeps growing. Perfectionists are more likely to carry the germs of abusive supervision. Solution: Zero tolerance policy for harassment and abusive supervision. The organization must have an explicitly stated policy of harassment and abusive supervision. Regularly organize workshops to inculcate sensitivity of the issue.