Determining the Performance Management Process - Term Paper Example

? Talent Management Number Contrary to what some believe, the secret behind organizational success is not really determined by the large pool of fixed and current assets that are due to an organization. Instead, organizational success has been seen to be fundamentally dependent on effective talent management. In turn, effective talent management borrows from a dynamic human resources management [HRM] culture, since steps to be taken in effective talent management solely lie under HRM’s jurisdiction. Similarly, an equal and good-willed organizational culture is needful for the realization of organizational success, given that a transparent and committed executive arm of an organization makes decisions that will affect the HRM’s and the entire organization’s effectiveness. 1. Determining the Performance Management Process to Be Employed to Measure Employee Talent On a personal standpoint, the best performance management processes for measuring employee talent are those that are envisioned in the management by objectives [MBO] model. Management by objectives is a model used to carry out performance appraisal, following its introduction by Peter Drucker in the 1950s. This involves the manager and the employee agreeing upon specific and achievable objectives that are to be met within a given deadline. However, to achieve utmost effectiveness and a more comprehensive view, it is important to merge the MBO model with the organizational performance vs. individual performance management model. In this model, the extension of incentives to the staff, the development and management of employees' talents is placed in the hands of the human resource [HR] performance management system, since this engagement is a major influence on strategic change and operational performance (Gardner, 2006). Organizational performance vs. individual performance management model also involves changing how employees are to be developed and managed, to align properly with prospects of organizational success. According to Belliveau (2011), the miscible aspect between MBO model and the organizational performance vs. individual performance management model is based on the fact that both are cognizant of the reality of setting performance target. For instance, measuring the best employee talent in the MBO must factor performance target, just as organizational performance vs. individual performance management model involves the HR department setting performance target [goals], at the individual and organizational level. Shukla (2009) contends that it is from the two models or a merger of the two models that there can be specific performance appraisal, to determine the attainment of organizational performance target. Without the factoring of performance target, an organization can never ascertain the extent of the performance gap that it has attained, or the extent to which it has met the performance target. Because of this, it becomes equally impossible to accurately apply correctional measures [such as training programs and workshop drives] to help seal performance gap and strengthen talent. Likewise the extension of incentives [such as promotions, increased remunerations, acknowledgement and/ or scholarship] becomes subject to whims, since determining those who attain performance target becomes obscured. 2. Analyzing the Key Concepts Related To the Talent Pools and the Talent Review Process There are key concepts that are related to talent pools and the review talent review process. One of these concepts is talents. Closely related to the desired talents is the observation of meritocracy and an open, transparent and competitive recruitment drive. Talent is key to the talent pool and talent review process since it encompasses the desired traits, gifts, qualifications and behavioral predispositions that are directly and indirectly applicable to the attainment of organizational goals. Likewise, in the absence of an accountable and competitive recruitment process, it becomes impossible to capture the needed talent, since competitiveness readily attracts merit. The idea of using qualification as the yardstick for employing new recruits and extending rank and promotion is not only the essence of meritocracy, but the very rallying point for the sharpening of the already acquired but much needed skills among employees. There is also the need to determine the performance target for an employee so as to not only help further organizational goals and objectives, but to also help the employee and the organization gauge the extent of the employee's competence or gifting. According to Mathews (2011), performance target should be structured and specific enough to ensure that the organizational standards and individual standards are captured. In case of the latter, it is important that the organization ensures that the yardsticks that are used to determine the employee's talents, competency and merit should be commensurate with the standards that prevail in a given country, region or even the entire globe. Vaiman and Vance (2008) contend that also applicable to the attainment of proper talent pool is the incorporation of correctional measures and talent sharpening programs such as training, and workshop drives and mentorship programs. It is these measures that ensure that the qualifications, talents and skills that an employee possesses do not wilt, but that instead are sharpened, expanded and fine-tuned to suit organizational objectives, vision, mission and goals. 3. Developing Appropriate Talent Management Objectives to Measure Functional Expertise First, it is important that the organization determines the talents that it desires, as important factors to the realization of organizational goals and objectives. It is from this point that an organization can specify the qualities and qualifications that are needed in a recruitment drive. This stage will involve the executives of the organizations meeting to determine the specifics of the goals, mission, vision and goals of the organization. Secondly, it is important that an organization draws up proper succession management frameworks to help ensure both transition and progress. After the organization has captured desired talents, it is important that proper framework is drawn to determine how portfolios are to be filled in an upward hierarchy, in the event of retirement, resignation, death, or a protracted sick-leave. All posts however small, unspecialized, junior, executive or senior must be incorporated into this arrangement. An absence of sound succession management strategies, the organization in question is bound to expose the organization to power vacuums, and subsequently, the overworking of employees before vacant positions are filled (Caplan, 2010). In a closely related wavelength, it is important that uses up-to-date data and concrete understanding of the vacancies that may fall vacant and the challenges and responsibilities that accompany a given vacant position. This will help the management determine the steps that can be taken [such as attaching more attractive perks and emoluments to these posts], in order to get the posts filled in time. One readily agrees with Berger and Berger (2004) who posit that there is also a need to strengthen its tools of communication and use them to advance talent management exercises. One of the most effective ways an organization can achieve this feat is by using social learning tools which will enable an organization get acquainted with the market dynamics that are applicable in recruitment exercises. This may involve the organization setting up a full-fledged website to help members of the public become acquainted with the firm. The website should be comprehensive enough to support online applications and recruitment exercises. Similarly, these information and technology [IT] tools of communication will help the organization gain insight into the quality or standards of talents that prevail in the global market. The same IT tools will help record, store and analyze employees' performance, both at individual and organizational levels (Jacobs, 2008). Similarly, it is expedient that there is an effective HR department that is supposed to carry out the supervision of performance, analysis of talents, setting up of performance target, determine the competitiveness of emoluments, analyze fiscal performance and organize how performance gaps through training programs and workshop drives (Foner, 2001 and Stephens, 2004). 4. Assessing the Key Elements of Global Talent Management as They Apply To my Organization Scheimann (2009) divulge that there are key elements that are applicable to global talent management, going by an organization I worked with. These elements are: alignment with organizational strategy; internal consistency; cultural embeddedness; management involvement; balancing global and local needs and; employer branding through differentiation. For one, the organization I worked with effectively aligned its organizational strategy by synchronizing its goals, vision, value and mission statements with the talents and competence of the employees in the organization. This is done through an elaborate orientation process. Internal consistency, cultural embeddedness and management involvement are guaranteed through an array of measures such as supervision, the setting up of performance target, the conducting of performance appraisal, the extension of incentives, and the introduction and management of training and workshop programs, as a way of horning the skills and talents that employees possess. Hardman and Eric (2009) observe that balancing global and local needs was also achieved by using IT provisions, the company’s website and social online services. These provisions enabled the firm to gain an insight on the dynamics that characterize the global market, and to match the same dynamics with the firm’s synergy. The organization also faired well in employer branding through differentiation by highly exploiting job specialization and division of labor, to help in the discharging of organizational goals and perpetuation of the organization’s name as a successful and excellent brand. 5. Recommending a process that optimizes a sustainable talent management process At the moment, the toughest challenge for many organizations in talent management is continuously consolidating the desired talent, in a labor market that is highly competitive. Because of the competitiveness of the job market, employees are always in a move, in search of greener pastures. To ward off this drawback, it is important that an organization practices effective talent management. So far, it is recommendable that organizations that find themselves subject to frequent employee departure and resultantly high employee turnover apply the aforementioned practices which are: aligning operations and employees skills and qualifications with organizational strategy; maintaining internal consistency; inculcating cultural embeddedness; fostering and upholding management involvement; balancing global and local needs and; upholding employer branding through differentiation. References Belliveau, V. (2011). "Four Learning and Talent Management Strategies to Drive Business Performance." The Grapevine, 5 (2), 53. Berger, L. & Berger, D. (2004). The Talent Management Handbook: Creating Organizational Excellence by Identifying, Developing, and Promoting Your Best People. New York: McGraw-Hill Companies, Inc. Caplan, J. (2010). The Value of Talent: Promoting Talent Management across the Organization. London/NY: Kogan Page Limited. Foner, T. (2001). Talent Management Strategies and Organizational Success. Oxford: OUP. Gardner, S. (2006). “Redefining Organizational Success.” American Journal of Business, 3 (2), 19. Hardman, R. & Eric, R. (2009). Effective Talent Management Practices. London: CENGAGE Learning. Jacobs, P. S. (2008). A Closer Look at Organizational Success: Redefining the importance of Human Resources Management in Business Success. Harvard: HUP. Mathews, M. (2011). Management Practice and Organizational Performance. New York: SAGE. Scheimann, W. A. (2009). Reinventing Talent Management: How to Maximize Performance in the New Marketplace. New Jersey: John Wiley & Sons, Inc. Shukla, R. (2009). Talent Management: Process of Developing and Integrating Skilled Workers. New Delhi: Global India Publications Ltd. Stephens, P. (2004). Talent Management and Organizational Success. New York: Prentice Hall. Vaiman, V. & Vance, C. (2008). Smart Talent Management: Building Knowledge Assets for Competitive Advantage. New York: Edward Elgar Publishing Ltd. Read More