There are many versions of Talent Management models in books and articles that can help a company manage their talents effectively.
While it is easy to know the process of talent management, it will also depend on the type of talent the company wants to have that will make an impact to the business results. Most people will probably know how to fold a simple paper origami crane, but most probably did not imagine an origami crane with legs with claws (as shown in one of my Origami book collection). So before embarking on a talent management process, think about what your talent will be like and what will you have him achieve for the business. Then evaluate your commitment, as that will determine how elaborate your process will be.
Generally, a talent management process comprise of Selection, Alignment, Development and Sustenance (or Succession Planning).
Selection means determining the criteria needed in the talent who will be required to deliver results to the business. So talent management is not a process applied to every single hire in the company. Realistically, while it is important to engage everyone to commit to the company, not all will be able to make an impact to the business.
Management needs to translate the business goals with clarity as though specifying the route to reach the destination. This helps with identifying the human factors involved and in turn the appropriate criteria for an effective talent search or development. Talents who are selected will have better alignment with the company’s goals, have a higher retention probability and contribute better to achieve the company business results.
As the talent continues his career growth with the company, he can be developed further to take on challenging tasks and responsibilities. It is important for the supervisor to spend time with his talent to discuss opportunities for him to excel. The supervisor needs to look at the talent as a staff who adds value to the company and not cling on tightly to him for his own department. There will be risks in any transfers of talent and hence the transition needs to be planned with contingencies. Hence an effective talent management process will need to include sustenance or all efforts put into the talent will go to waste.
Will share more on each of these stages later. Cheers!