In bygone times some companies have dithered on the issues of talent management because of a hazy definition The archaic notion centered only on top performers and key positions; others mistook talent management to mean crisis based recruitment or classroom training.
In real time “Talent Management” remains
difficult to define, and its processes and outcomes vary widely across
industries, organizations setup and.
Companies also need to ensure that they align their talent management processes
with their culture, values and strategic goals, and that they integrate these
programs across the entire organization. Company need to make sweeping changes from flatten traditional organizational structures
to empower front-liners in a VUCA world
where business works at the speed of the changing market. Hence each organization must define talent
management customized to their requirement; defining both the scope and
boundaries and drawing up an agenda similar to a business plan.
In the turbo dynamic change of Industry 4.0
organizations cannot flounder and fritter too much time about WHAT IS TALENT 4.0 ?. The “what’s” promise nothing on their own.
Guarantees of results come from
“HOW’S” instead. Talent 4.0 Model hammers hard on the implementation; otherwise the cynics may feel this is a fad
which will eventually fade away.
TALENT 4.0
The EXECUTION PHASE : A
STRUCTURED APPROACH
TALENT 4.0 execution phase
prescribes a methodical & structured
approach because it here there most of the pitfalls and traps are found.
Without a Master Plan and careful
monitoring and control, most Turnaround Plans fail to achieve the expected
results. Talent 4.0 Model mandates that
in this phase, the physical deliverables should
be defined. A detailed design of
each deliverable is created and the deliverables are carefully monitored;
backed up by a series of management processes to guarantee results.
Talent 4.0 Model management formally
integrates ALL people management programs and initiatives so that they work as a continuous &
complementing process. Because Talent
4.0 Model is not just the gamut of the Employee Life Cycle and building a high-performing workforce.
TALENT 4.0 MODEL answers the need for a
holistic but practical approach.
APEX
TEAM FOR TALENT 4.0
Talent 4.0 must be explicitly
linked with overall strategic planning explicitly linked to the company’s overarching goals or embedded in the business planning process.
The Talent-first CEO should make sure that the talent strategy is
synthesized in a concise and easy-to-communicate way that organizations can
seamlessly translate into action. The CEO
should focus on ensuring that C Suite is really involved in strategic
talent management initiative and both skilled and committed in execution. They
need to ask the right questions, scrutinize critical assumptions, and ensure
that their companies are learning organizations: porous to outside trends and
examples.
Today the CEOs role is
much more than leading the annual strategic-planning process. The CEO
needs to “upgrade organizational IQ” on
strategy and more specifically on the
talent element. The best Talent 4.0 plan is closely aligned with the company’s
strategic plan and overall business needs.
The talent-driven organization needs a central Think Tank, with all head
of department/function on equal footing, and even more an equal commitment to
the success of the talent management strategy. Thus a focused & cohesive
team will change the way and sequence in
which critical matters are discussed.
Mission critical issues will deserve the right time and respect such
that the apex management team ties
talent to every item on the agenda. Working together and
meeting constantly, both formally and informally, they can evaluate the company
holistically.
The CEO leading the team of Talent Champions
should mobilizing the process by spending more time engaging broader groups
inside and outside the company, mirroring the dynamism of the business
environment periodically throughout the year. The essential role is to
institute a more broadly democratic process that pulls in company-wide
participation and helps agility under volatile business scenarios. With that platform in place, CEOs can focus
to the most critical aspects of leading a talent-first company: ensuring that
talent is truly integral to every major strategic decision across the
organization.Misalignment is disastrous for companies who wish to be
talent-centric- line managers must work in tandem with the HR function to oversee a smooth and
streamlined interactive.
LINK TALENT 4.0 TO BUSINESS
STRATEGY
The foundation of a solid talent strategy
must be the company’s business strategy and growth objectives. By asking where
the company is now and where it wants to be in the future, the Apex Team can
identify current gaps in talent, both quantitative and qualitative, and map a
path forward based on the business plan and resulting talent requirements.
The core theme for the Apex Team
is to link the Talent 4.0 response to the business drivers and the
strategic plan.(REFER CHART BELOW) Cynicsm
and diffidence in the form of ‘…CAN WE
REALLY DO IT… ’ should instead be
replaced by ‘…HERE’S HOW WE CAN GET
THERE…”
The CHRO must understand the key
business drivers (today’s top CHRO are
need to be well versed on the business side too ), the C-suite must in
reciprocal terms understand the human
drivers of value creation. ( when both forces meet only then true value is created!!!) The CEO is the lynchpin of the Apex Team with
his leadership and support the value of talent is represented in every major
decision. Rather than relying on sporadic initiatives , companies with an
effective approach to talent management take an end-to-end view of talent. This
approach is grounded in business strategy, treats human capital with the same
rigor as a capital asset investment, and looks for opportunities throughout the
tenure of the employee.
FINAL WORD-
The list of critical priorities, includes
everything from continual reinvention of talent management practices and
the creation of an winning workforce; innovation with the help of a research
team; flattening the organization with self-managing teams; creating succession
plans for mission critical positions; or reducing attrition in a talent scarce
job family —all this creates a complex set of challenges for Talent 4.0 . Coming to brass tacks companies may
need to start by focusing on the one or two elements that address the areas of
greatest need and will yield the highest return on investment.
With best compliments
Dr Wilfred Monteiro
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