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Building the Talent-rich Organisation

The main shared goal of senior management and HR professionals is to build a talent-rich organisation through:

  • Zero-Talent Outages: Having two or three people ready, willing and able to step into each role that opens up due to a business opportunity, promotion retirement or resignation of others.
  • Succession and not Replacement: Ensuring that these people are actually better than the people they are succeeding, in a short time, if not immediately.
  • Becoming a Talent Magnet: Building the kind of reputation as a talent rich enterprise that attracts great talent into the organisation.

To develop an effective Talent Management architecture, three dimensions need to be considered:

  • A clear, articulated picture of the talent needs of the organisation over the next few years
  • Developmental pathways that can be used to get the raw potential developed into polished performers(talent transformation)
  • Programmes that enable both talent to develop and talent mangers to do a great job of ensuring that the organisation becomes a talent rich enterprise.

The objectives of high-performing organisations include the following:

  • Attract top talent- using a competitive rewards strategy tied to market
  • Engage and motivate employees-driving business performance and connecting results to compensation outcomes.
  • Retain top performers-differentiating pay opportunities based on performance, and lengthening the timeframe associated with pay receipt
  • Create succession plans-knowing the next generation of leaders
  • Lengthen the performance horizon-focusing on longer-term results (beyond one year)
  • Create line of sight-aligning individual performance, business outcomes, and shareholder expectations.

 

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