Talent Management – what does this mean to you? If you equate it with succession planning you are limiting the potential benefits. If, however, Talent Management is defined as the process of ensuring your most critical activities are addressed by your most capable people, then a lot more can be achieved.
Talent Management requires a clear understanding of what capabilities an individual possesses and what drives them emotionally and materially.
This three circle model is an excellent framework for these discussions which can start with three simple questions about talent, passion and reward:
- “what am I good at?” (talents)
- “what do I believe in?” (passions)
- “what do I need?” (rewards)
From an organisational perspective, these are mirrored in similar questions:
- “what do we need people to be good at?”
- “what do we need people to believe in?”
- “what can we offer them?”
This is very different from traditional succession planning in that it works with a dual focus on what the organisation needs and what its people need.
Individuals in roles which allow them to regularly exercise and develop their talents, in pursuit of a goal they are passionate about, in an environment which offers the right rewards, will always perform better than those for whom parts of this picture are missing.
Organisations can’t cater for all of an individual’s talents, passions or reward requirements, but the closer they get, the more exceptional the results.
Talent management is primarily about building organisations around people with the required capabilities. It is not about fitting pegs into holes; it’s more about building holes around pegs so that they are well supported!
The best way to establish, develop and maintain a successful Talent Management programme is to enlist the help of its participants and their sponsors. In other words, Talent Management is best done by helping the talent to manage itself. So, what does this mean?
- Organisations need to be clear about the talents and passions that are important to success, and what rewards they can offer
- Individuals need to be clear about their talents, passions, and required rewards
- All stakeholders need to be committed to maintaining the right environment for success (psychological contract)
There are actions that can be taken to address each of these, enabling your talent management to become largely self-managing. They include:
- Work out what your best people do which makes them exceptional, and why they work for you
- Analyse the key talents you rely upon and who has those talents
- Analyse what motivates you
- Actively seek out roles with the right mix of talents, passions and rewards for you
Stakeholder (environmental) Actions:
- Have structures and processes that help
- Ask your talent to solve your talent issues
- Reward appropriately – based on success
- Provide only light, essential support
- Stop leadership erecting barriers
With its talent management experience and its coaching and development programmes, PeakDepths can help you establish and benefit from these talent environments. PeakDepths can also help embed these environments across as much of the organisation as possible, so that your talent can be discovered and applied at all levels (from the bottom to the top) and not just in the traditional middle layers.