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Talent Pool Management

Talent Pool Management

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number of factors are to be considered before you take any decision on the working staff or the work that you need to be done. Human resource manager has the role of managing the staff and appointing people who not only are willing to do a particular task but are also skillful enough to manage the job well.


Overview

In any organization you need to select the best person to finish up any task. The better the selection of the person the better would be the work done. Talent management is absolutely important in all cases. There are a number of organizations where talent management is given the priority. If you want to learn talent management, you can do so buy checking out with the different institutions that provide this facility. Talent management basically teaches you how to manage the people who are skilled in any particular field in an organization. The right management of skill is very important in order to make the process of task completion smooth. You cannot run an organization efficiently if talent management is improper.

Talent management is somewhat similar to human resource management. The only difference between the two is the object of concern. In human resource management a person is of primary concern, whereas in talent management the skill possessed by a person is of higher priority. If you want to get more information on talent management you can take the help of the internet to check out the various institutions that provide this facility. You can also probe questions if you are looking for a particular answer.

Importance of Talent Pool Management

Before we can discuss how important talent pool management is to a company we first need to define talent management. There are many definitions out there, but it can be explained briefly as developing, nurturing and retaining people with the abilities and aptitude to meet business goals.

Managing talent is not something that a company falls into - it's a deliberate undertaking that can be advantageous to the company and each of the individuals within the organization. To begin the process, Human Resources must strategically analyze the current process and integrate the following:

  1. Recruitment - presenting the company so that the right people will be attracted and desire employment.
  2. Retention - initial a reward and support program for existing employees.
  3. Employee Development - constant learning and development.
  4. Leadership Development - development programs for employees with high potential.
  5. Performance Management System - feedback and measurements that nurture and support employee performance.
  6. Workforce Planning - keeping up with changing workforce; include older workforce and plan for future skills shortages.
  7. Business Culture - presenting a positive way of performing.

Companies can benefit from developing and retaining the workforce they have and individuals can benefit from a company that encourages and develops them to meet their aspirations. A Performance Management System is vital to achieving the goals of both the company and the individuals. The specific needs are different for each company but the common elements include

  1. Employee Development - focus on personal development and plans for formal and informal training.
  2. Salary Review - compensation can be linked to performance and review should be in the process.
  3. Personal Performance - related to tasks, responsibilities that can all be linked to compensation review.
  4. Business Performance - Individuals/Teams - track business goals as related to groups and teams within an organization.

Organizations can save hundreds of thousands of dollars by not only retaining the talent that are already working for the company, but increasing performance of the same individuals by working with them and initiating a performance management system. If the employee feels valued and on a career path where they will personally benefit - production tends to increase and the employee is far less likely to seek employment elsewhere.

Initiating a talent management plan can also be used to attract the types of employees that you want to join your organization. This process will enable you to learn what types of people work best in the organization; where improvements can be made and how to make adjustments as business and culture change. Performance Management System and Talent Management plan can work hand in hand to improve the overall environment of the organization.

The Talent Pool Management Strategy

In most companies the most valuable commodity, the most essential element of success in your industry, is the small pool of really talented people. Before you can hire them, before you can steal them away for someone else, before you can tempt them with exciting challenges and tantalizing compensation packages, you have to find them. You have hired the best HR pros you can find to do that for you, but it is your responsibility to guide the HR people and to get them the tools they need to succeed. What is the best tool - the Internet, of course.

Here is a short checklist of things your various departments should be working on together to help your company attract the talented candidates.

  1. Is your company on the net?
    If you don't have a corporate web site, get one. It is that fundamental. If your competitors have one, they are pulling ahead of you already. If they don't, you can pull ahead of them quickly. If the talent you need to build a web site isn't in your IS Department, you can hire or subcontract it. You might want to look around the company first, however. Don't be surprised at how many people in your company have already built web sites.
  2. Can the top talent find your web site?
    The most important starting point is your URL. You don't need to worry about what it stands for (Uniform Resource Locator). Just make sure that the one you have is something that people would think to look for you under.
  3. Get your site listed with the major search engines.
    Don't worry about the job posting sites (like Monster Board). Remember you want quality in the response, not quantity. If your industry or association has a web site, try to get a link from their site to yours. (Don't worry about how to do this. That's what you have an IS manager for.)
  4. Are your current job openings posted on your web site?
    Make sure your HR Manager includes specific details of each job opening, duties, requirements, job number, etc. Remember, you are looking for good matches. If the positions are too general, you will be swamped by resumes from marginally qualified people, too. Make sure the listing is current. Take old jobs off when they are filled. If the list never changes, people will stop checking it.
  5. Do you show general types of openings to get resumes for later openings?
    You also want to catch resumes from top talent, even if you don't have a current opening. On a separate web page from the job listings, maintain a static list of the general types of people your company hires. Use the titles for which people in your industry are likely to search.
  6. Does your website tell prospective employees about the company, its products, its culture?
    Get Marketing involved here. Make sure the web site includes details about the company and its products and services. You want to sell your company to the talented people who come to your web site. Get HR to put something on your site that addresses the company culture. Again, you are looking for top people who will work out well. If they aren't a good match, they won't stay long enough to reward your efforts.
  7. Can they reply on line?
    Now that the top talent has found you, don't let go of them. Give them a way (or several) to submit their resume right now, while they are still on your site. Give them an email address to which they can reply. Set up an on-line form they can complete and submit. You can also include your fax number and your mail address for those who want to use traditional methods.
  8. Do you treat them like people, not numbers?
    Have your IS Department put an auto responder on the email address to which they submit resumes. It's a simple thing that sends back an email saying "Thank you for your interest in our company. We got your resume and we will look it over and get in touch if appropriate, etc." HR can write the message, but be sure IS puts it out on the auto responder.
  9. Do on-line resumes feed a searchable database?
    Don't hamper yourself with traditional (slow) methods. You have to be quick to survive in your industry, and personnel issues are no exception. If you don't move fast enough you may lose the best prospects to your competitors. Have IS set up a system that automatically puts the information submitted at your site into a secure database that HR can easily search to find the best matches