TALENT MANAGEMENT DEFINED
There is no shortage of definitions for this
term, used by corporate leadership the
world over. With a nod to other points of
view, DDI defines talent management as a
mission critical process that ensures organizations
have the quantity and quality of
people in place to meet their current and
future business priorities. The process covers
all key aspects of an employee’s “life
cycle:” selection, development, succession
and performance management.
Key components of a highly effective talent
management process include:
> A clear understanding of the organization’s
current and future business strategies.
> Identification of the key gaps between the
talent in place and the talent required to
drive business success.
> A sound talent management plan designed
to close the talent gaps. It should also be
integrated with strategic and business plans.
> Accurate hiring and promotion decisions.
> Connection of individual and team goals
to corporate goals, and providing clear
expectations and feedback to manage
performance.
> Development of talent to enhance performance
in current positions as well as
readiness for transition to the next level.
> A focus not just on the talent strategy
itself, but the elements required for successful
execution.
> Business impact and workforce effectiveness
measurement during and after
implementation.