Talent Management

Jac Fitz-enz , founder of the Human Capital Source says the data explosion is teaching us a new vocabulary. Gigabytes, Terabytes and now to Zettabyes. At this rate, the world’s database will double by around January 2015. In any transformative event, there are many pitfalls as well as opportunities. What opportunities do you see in talent management and development? True innovation is not about bigger, faster versions of the old vehicle. When there was a perceived need to speed transportation, people didn’t try to breed faster horses. Think about the effects of the great inventions. Every one of them changed the way people thought, lived and worked, and each required new methodologies that in turn spawned new supporting businesses. So what does the data deluge and e-management mean to talent development? It means an opportunity and a demand for new learning and personal growth methods. Human development in the 21st century must spring from an understanding of how our cultural bases are changing. Social networking is more than electronic gadgets. It is a sign that the younger generations think, act, believe, perceive, desire, appreciate and communicate differently than the retiring baby boomers and even Gen X. He says he believes the answer lies in expanding the view of life. Clearly, marketing and advertising are looking for new messaging models. They need to not only reach prospective buyers through new media, but also need new messages that resonate with the new generation. The Theory X management model that says people are only motivated by money and must be closely supervised was proven wrong by Fred Herzberg in the 1960s. It has taken 50 years for management to understand it. The good news is that more companies are recognizing that treating people as functional human beings pays off. Clearly, people can work effectively at home without line-of-sight supervision. How do you develop managers and professionals to operate in that world? It will take more than a new training program. To read the full article visit: http://talentmgt.com/articles/view/is-big-data-really-about-data/?interstitial=ch022714 For more details on Talent Management solutions email arasu@smrhrgroup.com

How do you measure the competency of a founder? Great article: http://www.linkedin.com/today/post/article/20131024075342-42592294-can-founders-let-go-what-love-s-got-to-do-with-leadership?trk=tod-home-art-list-large_0

Budget Comments Kuala Lumpur, 25th October 2013 I like and love the strategic thrust on Inculcating Excellence in Human Capital in this year's Malaysian budget. Thank You Mr. Prime Minister. While there are some who would have preferred greater development expenditure and lower operating expenditure, some would even prefer a lower % deficit of the GDP, I think the budget has focussed on a key priority area: Human Capital, to improve the long term well being of the nation and our competitiveness. There are no short cuts to success. Education receives 21% of the budget. The commitment to implementing the Education blueprint and improving standards of English and upholding the importance of the National Language, emphasis on Entrepreneur development, supporting employers on the Minimum Wage Policy, the setting up for a private retirement scheme are positive initiatives. RM 400 million from the Human Resources Development Fund for employers for training, 330 million for Skills Training, Tax benefits for Flexible work arrangements, RM 100 million training allocation for the Indian community and 20 million for rural programmes are welcome at this point of time in the global economy.

Competency & Talent Management A strong succession planning program is one that identifies and fosters the next generation of leaders through mentoring, training and stretch assignments, so they are ready to take the helm when the time comes. Research supports sound succession planning. A study some years ago from consulting firm Booz Allen Hamilton concluded that "over their entire tenures, CEOs appointed from the inside tend to outperform outsiders" when it comes to returns to shareholders. Yet many organizations struggle to take their succession planning programs beyond a static list of names slotted for a few top spots. Every organisation should have a roadmap that offers organisations a framework and advice on how to create a robust succession planning program that aligns talent management with the vision of the company, ensures employees have development opportunities to hone their leadership skills, and guarantees that the organization has a leadership plan in place for success in the future. As companies begin to develop a succession planning process, they should consider these fundamental issues: High Potential programmes, internal development, Diversity issues and Leadership support. Companies make many mistakes when it comes to succession planning. Organisations use the past to plan for the future, miss getting the Board support, not making succession part of the culture and allowing wrong people to make succession decisions. A succession planning program compiles the skills, abilities and goals of each employee, compares them to the needs of current and future roles, and tracks employee progress toward being ready to fill those roles. A roadmap can be structured into three phases to help you implement the planning and execution of you succession planning program - "Plan," "Do" and "Review" of succession planning. As companies expand beyond 200 to 300 employees, it becomes challenging to oversee talent management and succession planning efforts on paper. You cannot effectively track the career development progress of hundreds of employees using spread sheets and sticky notes. While there are many enterprise applications for succession planning, you need to equip your team with the models and tools.

Competency - Developments

Visit http://sabhlokcity.com/2012/10/mou-between-australia-and-india-on-competency-standards-for-vocational-training/ to view this inetersting development

AUSTRALIA has used its skills training expertise to improve relations with India, agreeing to help the country work on its target of training 500 million people by 2022.
Prime Minister Julia Gillard oversaw the signing of a memorandum of understanding between Australia's industry skills council, SkillsDMC, and its Indian counterpart, which will see the emerging economic powerhouse learn how to boost its workforce's skills.
SkillsDMC will help its Indian counterpart with the creation of competency standards and processes for affiliation of training partners.
Mr McDonald said the relationship would be based on an information exchange, so India did not make the same mistakes Australia had previously. The support was about training people to meet India's needs.

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Competency Management for Organisations

Many years ago I wrote a book Competency Management: a practitioner’s guide. I have reviewed hundreds of articles and books and let me assure you it has been an overwhelming experience. The lack of clarity in thinking and insufficiency in understanding the concepts has resulted in many flawed approaches. Basically we can start with a simple question: Are you competent in what you do? You better be if you do not want to be out of your job. Whatever the term may mean, we all have a feel for the word – it simply means a person is able to do the job. This is purely from a workplace viewpoint. The English dictionary describes the word “competence” as suitable, sufficient or fit.

January 2013 Post

Workplace predictions for 2013 A thought provoking article in the Talent Management magazine lists out what’s in store for business leaders in 2013. Halley Bock, the author says the organizations that are more adept at embracing these changes and leveraging them to build stronger relationships with their talent will be better positioned for success in the long term. The prediction is that this year will see the adoption of non-traditional approaches to communicate with and engage talent. Firstly, the annual performance review will become history as conversations about specific, real-time performance issues occur on a much more frequent, as-needed basis. These ad hoc conversations can provide the instantaneous feedback employees crave and dramatically improve overall communication. Secondly, organisations will realise that money is no longer the king. An increasing number of employees will seek non monetary incentives such as increased vacation time, pursuit of personal interests and continued education. Thirdly, social media policies will mature and eliminate the ambiguity that may exist allowing some gray areas to exist. Fourth, succession planning becomes a higher priority as attrition becomes a serious issue for top management. Fifth, organisations will value workplace versatility. While organisations have always valued specialisation, employees who have the competency to wear multiple hats will be greatly preferred. Additionally, millennials entering the workforce are actively seeking career opportunities that offer broad experiences not narrow ones. For more details http://talentmgt.com/articles/view/five-workplace-predictions-for-2013/2