Talent Management: The Dos And Don’ts Which Makes Or Break Your Organisation’s Talent Pool

Organisations across the
world invest large amounts
of resources, time and money in Talent
Management to retain High Potentials (HIPOTs). They are highly
capable, intelligent, and quick learning resources that we are
talking about. Would a hike in salary package, grade, or
designation hold them motivated quite a while?

 

Imagine
a goldfish inside a tank full of fighter
fish. A formula1 car on any heavy traffic road. Shoe
polish adjacent to fruit racks in a retail outlet. How repulsive are these
images? That’s precisely how hipots will
feel if they’ve got to work in an environment that doesn’t suit their culture, aspirations, and capabilities. They are going to feel suffocated and what follows next is the hipot going
in search of fresh air.

 

 

CAPABILITY
MISMATCH:

 

Take into consideration a situation where your hipot has to
report to a supervisor who is low on
general intelligence. The manager would likely take more time concluding a brainstorming session. The hipot may see
this additional time as waste and incapability of her manager. The hipot may well not find enough motivation to sit through the future meetings with
the manager or not look ahead to
gaining knowledge from the manager.

 

 

CULTURE MISMATCH:

 

Everyone knows that adults prefer not to be told. A hipot would hate for
being directed constantly, they usually enjoy
being challenged cognitively. They
would prefer guidance only after trying out things on
their own. An environment where the organisation as well as managers are less tolerant towards
learning through experiments and failures cannot support nurturing a talent pool. ‘Telling
approach’ is considered one indicator of an
organisation that lacks a high-performance culture.

 

ASPIRATION
MISMATCH:

 

Tenure-based
promotion is a good enough ground repel the
talent pool farther from organisation. What
is needed in such a situation will be to manage somehow and stay
put for the promotions to happen. A hipot can find employed in such an environment insulting. Hipots intend
to grow in accordance to performance,
effort and demonstrated capability.

 

Organisations
can’t expect hipots to wait patiently for their turn of promotion. The irony is
that the organisations don’t try to find their patience while recruiting them. The
talent management strategy must be in line with the intent to nurture and
retain the talent pool.

 

“At companies with
very effective talent management, respondents are six times more likely than
those with very ineffective talent management to report higher ‘Total Returns
to Shareholders’ than competitors.”

 

“Only 5 per cent
of respondents say their organizations’ talent management has been very
effective at improving company performance”.

 

Source –
https://www.mckinsey.com/business-functions/organization/our-insights/winning-with-your-talent-management-strategy

 

 

ATTRACTING VS
BUYING TALENT:

 

Does your organisation
attracts talent or get it from the market? These are generally two
different things. If by chance your organisation is attracting talent, you might always have a talent surplus situation, no matter what the
market condition is. If you are buying talent from the market, you may consider the following
thoughts:

 

• Increased
wages are not going to keep the hipot motivated for too long

• A Deputy
Assistant VP grade will not likely mean much for a longer duration

• If there is
a mismatch between expectations and reality, the hipot may regress
in performance after joining your organisation

• Recruiting
hipots may cause interpersonal challenges along with an increasing amount
of employee churn

 

 

Some pointers
that can assist in making informed decisions about attracting, recruiting, and retaining
the talent pool:

 

• Define the DNA
of hipots for the organisation

• Define the
strategy to recruit hipots. You might have to make sure that they work with managers who can provide the the right environment

• Conduct surveys
to see if your organisation’s culture is
conducive for nurturing the talent pool. Should there be shortcomings, including organisational culture and practices,
address them through a robust learning architecture

• Make leaders
answerable for talent management and review them regularly

• Define a career
path for all roles in the organisation. Employees should enter, get promoted, and exit the organisation at the right
time

• Make people
development a default competency for managers and leaders. Organisations should
give talent management competency enough weightage for making their promotions
decisions

• Provide equal
opportunity for all employees to learn and develop

• Make the
promotion criteria objective and transparent

• It is certainly ok to
not recruit hipots for your organisation, but this decision must
be based on talent pool bench-marking

growth hacking

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