A good Talent Management process talks about a pragmatic and forward-looking organization. A talented organization serves as a competitive advantage in the marketplace as well as internally is a motivator for the fast trackers who are ambitious and want to run that extra mile with a good career progression plan. A strong talent management process that includes good succession planning is also a risk mitigator to fill critical positions or emerging new roles in light of organizational growth. You may ask who is a good talent and the answer is one who performs well in his existing role and shows potential to handle a higher level complex job at a later date. And that is how a 9 Box matrix of Performance & Potential has emerged to position Talent.
The HR Need to work on three major talent types in the current scenario where there are 3 generations of people working in the organization:
- The Baby Boomers and Gen X: They are ones who have created things on their own when they were not having enough technological advancement however they are the best functional experts in the industry with business acumen
- Gen Y (Millenniums): They are ones who will cover almost or more than 60% of your organization population in the next few years, tech-savvy and result-oriented, and has the knowledge to sustain
- The Gen Z: Fresh Blood, the one who has seen the greatest pandemic, loves Flexi timings very much worried about the environment and have entrepreneurial skills, and wants to work at their pace and sweet time.
“Human resource” has to blend their competencies to create the best architecture plan for the organization, the process to follow:
- Talent Identification & Assessment: Assess the overall competencies along with performance
- Talent Development: Create an Individual development plan after the assessment along with an action learning project.
- Succession planning & Career Development plan: Create a succession pipeline for identified critical positions.
We are lucky to have an automated Talent Management platform in the form of GEMS, which in GHCL we term as Succession planning & career development plan module.