The document discusses key processes for effective talent management. It defines talent and talent management, and emphasizes identifying individuals who can significantly impact organizational performance. It also stresses the importance of attracting, developing, engaging, and retaining top talent. The document outlines six key talent management processes: defining talent, identifying talent, attracting and retaining talent internally and externally, managing talent, nurturing and developing talent, and evaluating talent programs.

1. Recognising and releasing valueTalent ManagementDr Douglas Young1© HRPD Associates 2009

2. DefinitionsTalent consists of those individuals who can make a difference to organisational performance, either through their immediate contribution or in the longer-term by demonstrating the highest levels of potential. Talent management is the systematic attraction, identification, development, engagement/ retention and deployment of those individuals who are of particular value to an organisation, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles CIPD working definitions2© HRPD Associates 2009

3. The Value of TalentResearch shows that outstanding performers typically deliver four to six times more performance than average (whether salespeople, surgeons, software developers or any other role)

4. Selecting or developing just one outstanding performer has huge impact on overall performance

5. Identifying what differentiates outstanding performers from average can be used to:

6. Coach and develop less effective performers

7. Inform the succession planning process

8. Produce a template to inform selection of outstanding performers (as opposed to average)

9. Massively leverage organisation performance ie shift the whole curve to the rightPoorAverageOutstanding/“Talent”PerformanceThe best way to persuade Senior Management of the value of Talent Management is to put a Value on that talent (ROI)3© HRPD Associates 2009

10. Especially in economic crisisThe current uncertain economic climate makes the effective and strategic management of talent more not less important. It is likely that whatever the economic backdrop, organisations will continue to prioritise recruiting scarce talent and identifying, developing and managing talent throughout the businessChartered Institute Personnel & Development4© HRPD Associates 2009

11. Downturn impacts on TM DriversDRIVERTHINK ABOUTFOCUSBusiness-critical needsClarify strategy and align TMAlignment goals & rolesSuccession PlanningMonitor performance alignmentUse dashboard analysisRestructuringRetention - keeping your best people despite turmoilKeep close to talent & address concerns e.g. talent who might leaveEnsure knowledge/client networks base built /maintainedShort- and long-term balanceLots of talent on the market now but it won’t lastOptimise current talentGrab external talent now if you can afford it - seed bed the future talent poolSharing learning and pooling resourcesTalent is about knowledge, skills, experience, networksEnsure knowledge management processes maximised to share talent capability5© HRPD Associates 2009

12. Economic Downturn ResponsesResponses to the downturn by adopting positive talent managementpractices: 55% are developing more in-house talent 45% are focusing on essential development 43% are continuing to recruit key talent 35% are increasing their focus on employee retention.However, only 51% felt that managers are equipped to tackle the challenges of managing talent in a downturn CIPD Survey 6© HRPD Associates 2009

13. Inclusive – Exclusive continuumWhere on the range is most suited to your organisation at this timeExclusive GroupsInclusiveCritical SeniorRolesAll employees are potential talentMore appropriate for small professional organisation

14. Low aspiration model

15. Less competitive/fit for purpose

16. Reasonable proposition?

17. May “turn off” real talent

18. Any new process required?

19. Easier to implement/less impactSubset (s) are seen as potential talent More appropriate for large organisation

20. Ideal if there are clear mission critical roles

21. May create divisive culture

22. May make people feel stigmatised