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Essay, 17 pages (4500 words)

The quality of being able to do something to accomplish something

According to Carolyne Barry Creative Ent, talent is a marked innate abilities, it is the quality of being able to do something for especially the physical, mental, financial, or legal power to accomplish something. Talent management is important for an organisation as talented employees are the cornerstone of a competitive advantage. Talent management is the process of developing, integrating and retaining for both new and current workers. Talent management also attracts those who are highly skilled to work for a company.

Talent management is a formal system in an organisation to ensure effective and efficient use of human talent to accomplish organisation goals. Therefore, companies have put into practice talent management to solve employee’s problems. An organisation must work in business strategy to implement in daily processes through a talent management. This is a factor as more companies’ achieve success in the business through realizing their employees’ talents and skills.

Talent management helps the company to focus on developing their talent integrate plans and processes to track and manage their employees’ talent. It is the responsibility of the managers to develop the skill of their immediate subordinates. Talent management includes sourcing, attracting, recruiting of qualified candidates with competitive backgrounds, managing and defining competitive salaries, training and development opportunities, performance management processes, retention programs, promotion, transitioning and others.

Talent management is based on the planning that concern the competitive organisational strategy of the firm derived with input from talent management, which is the process of analysing and identifying the need for and availability of talent management so that the organisation can meet its objectives.

According to a journal, talent management process guide shows the three major stages to the talent management process, each stage has a number of activities that result in tangible outputs. All the stages involved are senior management, line managers and employees to ensure an open, transparent and honest process, this process relies on data provided by employees career development plans and once implemented, is an annual process that becomes a natural part of doing business.

Below is the diagram showing the process of talent management that includes preparation, manage and identify. (Innovation and Growth)

Talent Management

The first stage is preparation and the objectives of this stage are to ensure that departments are ready to undertake the process and have the appropriate resources, context and materials to do so effectively, it is a fundamental preparation but it is crucial to the success of the process. By completing planning, communication and resources allocation, stakeholders will be well informed to the purpose, logistics and outcome of the process, that may not need to be repeated in its entirety in subsequent every time as talent management becomes a part of doing business.

The second stage is identify talent and the objective of this stage to determine key positions and identify existing departmental talent, it is fundamentally known as an information gathering stage. This is by gathering relevant departmental staffing information, senior management can make more informed decisions when addressing talent issues.

The third stage is manage talent and the objective of this stage to identify and address gaps between existing talent and critical business needs that the analysis and action manage of talent management where talent issues such as recruitment, retention, leadership, diversity and career development are identified and addressed, this is the manage where the solutions occur and where the value of the process is best demonstrated.

2. 0 The importance of talent management.

More and more companies are establishing talent management. Companies have come to realize that their employees’ talent and skills developed their business success rates. A successful business is based on their employees’ talent such as new ideas, outstanding customer service or quick and accurate decision-making and so on.

By employing talent, the organization can cut down a huge amount of unnecessary expenditures like training. This is because talents already know how to do the task assigned to them or little training is required as talents are able to learn the ropes very quickly.

3. 0 Identifying talent.

Theory

Identifying talent is a stage of gathering information. Only by gathering relevant information can higher management make detailed and right decisions in addressing talents. In every organization, it is only fair to say that their perception of talent may vary as every organization may look for different aspects in identifying talent. It is the responsibility of the organization leaders to screen talents as it concerns the long-term organization’s success.

In an organization, a talent is found when the individual achieves a high result on the very first try on a situation with limited guidance, whereas a high performer may have struggled before achieving that result after trying the same situation over and over again for a period of time. In another simpler way to identify talent is by the terms of an individual’s potential or based on their past employment history.

An employee who has very high potential will be able to demonstrate superior leadership traits beyond their current work role; manage ambiguous circumstances extremely effectively; have significant impact and influence outside of their own work area; and also think strategically across the whole of the organization. (Lanham 2010)

Talent Management is about minimizing long-term risk of success rates in the organization. However, for Talent Management to be successful, leaders must first define what Talent is before they can identify anyone with it. (Lanham 2010)

Comparison

In Citibank, the characteristics requirements that they require from their talent employee are patience, multi-tasking, good communication skills and fast thinker when situations crops up and they must be able to handle the situation calmly. Citibank seeks for talented people because it is a bank and that all banks give their customers the same outcome but what varies is the service. However, the first impression of the applicant is very important.

In Citibank also, they tend to look back on the applicants previous records. Citibank believe that talented people are everywhere and they can be easily found in shopping complexes, restaurants, banks, front desks, and many more. They would then create a commotion and observe these talents on how they handle the situations. Apart from that,

Citibank identifies their potential employees through their previous records, which is also gathering information about the applicants. Other than that, Citibank also requires their employees to handle situations calmly, which is also in line with managing ambiguous circumstances effectively. Apart from that, Citibank also creates commotions for talents and observe how would they handle it. This is also a part where it is mentioned that talents are able to achieve a high result with limited guidance on the first try of the situation.

4. 0 Attracting Talent.

Theory

Your business is branded to communicate benefits to customers about your products or services. But do your prospective talents know what it is like to work for your company? Do they know why it is better to work for your business rather than your competitor? Developing strong recruiting brand to attract talent, recruiting brand is the key element of corporate brand since it communicates the organization’s value, goals and culture to talented candidates you want to attract. For example, if a person tells you he or she is working for Google; you will have great admiration toward this person? People will feel the pride when they work in a large company like Google.

Through developing a strong recruiting brand, the company may enhance the company’s level of reputation, and this helps the company to attract and retain their talent easily, because great people always seek out for great brand. The company is required to make sure that they target at the right talents, so that may not waste the time and money and they can also build the recruiting brand effectively.

The company should recognize the right talent, for instance find out which position is your target talent is interest in. The other way to build the recruiting brand is to select the most effective communication channels, for example, the company can go through the online or offline public relationship articles, photo and video that can tell the public the culture and value of the company. (Duffy 2009)

Benefits can be offered by a company to attract the talents. The company’s benefits have been tailored to the talents’ desires and values, and the resulting benefit plans have emphasized health coverage and retirement. Dental and eye-care insurance rounded out the benefit package, and the addition of even stronger retirement programs and, the newest of the new, health savings accounts seemed to produce the intended effect, satisfied the talents who saw the value of benefits packages as an incentive to join the company. (Clark 2007, p. 47)

Comparison

Citibank emphasize in developing strong recruiting brand, they realize that brand name is an important issue to attract talents work in Citibank. Obviously, working in Citibank is a pride to many as it is the 13th largest bank in the world, beside that the quality and services Citibank provide also will make them stand out. Moreover, Citibank is an overseas banking industry which would give the higher reputation in society and among as called as to be Citibank’s employees.

The talents’ benefit is important for Citibank to attract talent, the benefits they provide such as Outpatient Medical Expenses Credits, Hospitalization and Specialist Medical Benefit, Dental Expense Credits, Maternity Expense Reimbursement, Health Screening, Group Term Life & Group Personal Accident Insurance, Business Travel Accident Insurance and so on.

5 . 0 Recruit and Selection.

Theory

Recruit and selection is an important part of the process in talent management, it is how to find the right person in the right place. According to Kathy Daniels FCIPD, the process of selecting candidates or talents involves two main processes which are short listing and assessing applicants to decide who should be made a job offer.

Talent management will interview those who are selected and consider those potential talents and carefully defined the job and the past performance is the most accurate predictor of future performance, interviewer will measure the interviewee of their talent to perform well in future.

According to qualified staffing, before the selection of talent management the company should recruit the talents through identifying the positions that are required in the company, review and evaluate the existing applicant database for qualified candidate, used all necessary methods and media or advertising to locate the right candidate to meet company needs, and screening to qualify the employees such as complete application process, in-depth interview process to meet company requirements, skills assessment evaluation and testing and so on.

According to Vietnam works for employers, talent management must be kept in mind when hiring a candidate, the first talent management must measure is whether does the company already have the talent that is needed by the company so that they may consider current employees. Secondly the company should carefully define the job and the requirements before beginning the recruiting process. Finally is the person’s past performance is the most accurate predictor of future performance and carefully to check the reference. The last is measure the talent with the right experience, qualifications and personality.

The good candidates in an interview determined by talent management would consider some important factors including the candidates’ presentation, preparation, clarity, confidence and professionalism. The criteria interview a talent there are simple ways how to ask the talent people to find the right people with minimum effort.

Talent management selected a good candidate used the simple ways to sort out the good candidate and consider the candidate’s presentation itself and how they well they present themselves as first impressions is considered in selection of good candidate because candidate who seek to dress in line with the company’s culture have a genuine intention to work in the company.

Talent management considers a good candidate who prepared themselves with the information about company and its operation and they should know what role they are applying for. If he or she can answer these questions smoothly, it means that the person is seriously seeking for a position in the company.

Talent management selects a good candidate when he or she able to articulate them well and get each point across succinctly, and talent management may try pushing them further to see whether they can respond more clearly.

Thus, the good candidate should actually be humble as an individual but confident about their strengths in a position way such as good candidate may give suggestion for company on how to increase the company’s performance or profit that are shows the company their confidence in their performance.

Besides that, talent management also looks for candidates who are professional, it can be seen when the candidate is able to relax during the interview and they may make themselves an easy transition to the workplace.

Comparison

CSOS is part of Citibank, they recruit talents and require the characteristics of patience, multitasking, and perfect communication skills out of them. This is because they need talent people to handle to customers when they ask various types of question and to give good services to satisfy their customers’ needs. Besides that, Citibank’s main condition in recruiting talents and the most important characteristics includes learning and thinking fast, patient, multi tasking and also communication skills. Citibank considers the first impression as a very important issue in their recruitment of talent, it is show how talents present themselves on how interested they are to work in Citibank.

In talent management consider some important factors to interview talent people, it is similar with Citibank they consider some criterion condition to recruit talent people. Besides that, Citibank also hire talents through selection from other banks and check the references for past performance before begin recruiting process, they measure the talent person with the right experience, qualifications and personality especially position of manager or higher level position. They require the characteristics included communication skills, multi tasking, and patient and so on.

6. 0 Developing talent.

Theory

The competitive pressures facing organizations today require employees whose knowledge and ideas are current, and whose skills and abilities can deliver results. As organizations compete and change, training becomes even more critical than before. Employees who must adapt to the many changes facing organizations must be trained and developed continually in order to maintain and update their capabilities. Also, managers must have training and development to enhance their leadership skills and abilities.

Talent development should be linked to other learning and development initiatives. Appropriate learning and development interventions are required at relevant stages in a career path for talented individuals to achieve their maximum potential. Developing talent needs informal as well as formal learning interventions (retrieved from “ the human resource sixth edition”). These interventions will include conventional development activities but there is also the opportunity to use creative alternatives such as talent coaching and mobility. Developing talent benefits both organizations and individuals. Employees and managers with appropriate experiences and abilities may enhance organizational competitiveness and the ability to adapt to a changing environment.

Training is the process whereby people acquire capabilities to perform jobs. The commitments to create and maintain a workplace education program on a best practices, collaborative knowledge, competencies, compliance and other necessary organizational skills. Poorly trained employees may perform poorly and make costly mistakes. Training provides employees with specific, identifiable knowledge and skills for use in their present jobs.

Employee development encourages employee engagement which is essential to a high performance workplace. For examples, the company provided interpersonal and problem-solving training. This training addresses both operational and interpersonal problems and seeks to improve organizational working relationship, such as interpersonal communication, managerial or supervisory skills, and conflict resolution. Job or technical training enables employees to perform their jobs, tasks, and responsibilities well, such as product knowledge, technical processes and procedures, and customer. Developmental and innovative training provides long-term focus to enhance individual and organizational capabilities for the future.

Development plan, development represents efforts to improve employees’ abilities to handle a variety of assignments and to cultivate employees’ capabilities beyond those required by the current job. The development plan is very functional. Results of the assessment will flow automatically into the development guide. Participants can select items within the competency to identify goals and create action plans, activities and timelines. The action plan is saved, and monitored by participants, mentors or coach, and administrator. The program administrator sets the function to allow parties such as the mentor or coach or manager to view the participant’s action plan.

It focused attention to prescribing a course of development for an employee on the basis of developmental objective, departmental or organizational objectives, managerial preference, competency assessments, and future state modelling.  By focusing and targeting development, training programs become more effective and aligned with organizational goals.

Participants complete a final program evaluation to rate their mentor experience and report outcomes. The evaluation reporting provides you with valuable insight to the program ROI. A company with talent management, it help the company determine the strengths and weaknesses and will identify the types of training that are the most appropriate for each individual staff or team.

Comparison

Citibank has providing many training program for the talent people. The training program includes communication skill, the way to promote their company in house, promotion, the knowledge, rules and regulations. Citibank will put the talents at the right position according to their characteristic. For example, if the talents are good in communication, the supervisor may put the talents in the promotion team and give further training like communication training; let them have the knowledge how to promote the company and services. Besides that, training will motivate the staff to improve themselves or adapt more skill by showing them the Citibank is concern about the staff.

Through training, some of the staff may discover new talent, such as leadership. For example, the authority will be given to talents who have the leadership ability. Citibank also provide chances for training the talents to handle the new job. Besides that, the supervisor will also monitor and lead the talents when talents have not completely mastered their job. During the training procedures, the talent management help the training staff enjoy the feeling of personal growth and satisfaction that comes from the opportunity to develop their skills and better contribution to their team

Compare the theory part and Citibank’s talent management; both are helping the staff to identify their ability, weaknesses and strengths. At the same time, the training and development plan may enhance the staff ability and boosting their performances. The purpose is to maintain and update the capabilities, maintain a workplace education program on best practice. Other than that, the talent development in theory provide the staff an opportunity to develop their skill and identify where they suitable in their job. By focusing on the training and plan it, it is effective that company are people oriented will improve the organization performance

7. 0 Performance Management.

Theory

From an applied research corporation, the performance management is part of specific processes important in talent management, the goal are to propel business by growing market share, reducing costs, increasing top-line sales, and helping companies become more competitive. The strategies for managing performance must be focused on the base of what people need to do differently and where the people need to raise the bar for their performance. These activities of performance management is to ensure that goals are consistently being met in an effective and efficient manner and focus on the performance of organization, a department, talents or even the processes to build a product and service as well as many other areas.

According to developing people web descries the performance management is the process of maximizing the contribution of managers and staff to enable the organization to achieve its strategy, goals and objectives. It is encompasses a series of continuous activities that are aligned and integrated to ensure optimal talent performance, the component included traditional activities such as year-end talent self-assessments, as well as high-impact activities for example talent coaching and the cascading of talent goals that align individual performance with business strategy.

This align performance are many opportunities with succession planning, learning and career development which result is a consistent process and measures that create transparency for talent person and line management. This functionality for goal alignment help move in organization from a paper-based system to a strategic engagement where can measure and motivate top talent.

According to Wikipedia, automated tools is one of the most effective ways to measure talent person performance, the advantages for using this tools included improve the reporting and analytics with the automation of performance measurement process in organizations, it is saves time and money. Thus, it also give everyone in the organization is clearly aware about the common organizational goal and objectives. Besides that, technological advancements have lead to the growth of alternate working arrangements and talent performance management solutions can be customized according to the needs of the organization and flexibility environment.

Normally every organization has some competencies that managed well is an efficient and effective talent performance management and it is important factor for talent management because it help identify known competencies, develop succession plans, it is notice talent gaps and establish compensation scales based on talent people assessment.

According to journal of employees performance management descries planning talent’ performance include establishing the element and standards of their performance appraisal plans that should be measurable, understandable, verifiable, equitable and achievable. The critical of elements, employees held accountable as individual for work responsibilities. In talent performance plans that should be lead them flexible so that they can be adjusted for changing program objectives and work requirements so can be beneficial working documents that are discussed often and reduce merely paperwork that is filed in a drawer and seen only when ratings of record are required, so that can increase effectively these plans.

Comparison

In Citibank, they conduct the talent performance through the Tele services marketing and Trainer department. The Tele marketing is evaluating phone calls hear back target and points collected. The trainer department is performance of follow trainee, test and interview after two months in Citibank to know what employees want and ask for. By the opinion of Citibank the talents people will willing performs well in the company talent people will perform no matter what because employees are talented and they are born with it. Citibank make employees perform example the talent person in reading people and persuading people well there is no point putting them in marketing because will suit the service rather than marketing because marketing need more aggressive and multi tasking, as well as communication. Besides that, Citibank provide flexible environment that can make talent people show their performance as well.

In the performance management process is compasses the activities for talent people to enable the organization to achieve its strategy, goals, and objectives through coaching or training and cascading of employee goals that align individual performance with business strategy, it is similar with Citibank Trainer department and Tele service marketing. However, Citibank have not functionality for goal alignment help move in company to measure and motivate top talent but they make their employees perform as suit the position when needs of employees. Citibank give the talent people flexible to do their work, it is similar with talent’s performance plans.

8. 0 Retention Initiatives.

Theory

High labour turnover in a company can affect the whole company process, so that they want to prevent this happen. To retain the talents, the employer can give their talent more challenging work like assignment or projects and also offer the opportunities for professional development, so that the talents may have motivation when working. A complicated task can make the talent feel interest, because the talented employees interesting in overcome the challenges. (Port and Wilson 2009)

Talent management team should recognize their efforts and should reward them appropriately, appreciate them, moreover the management also can give promotion who done well in the assignment, give them the chance to grow as an individual and also as a part of the company, when they successfully handle a complicated situation or project. For example employer can send an email to express the thankfulness and valuation when the employee (talent) done a good job. Employer also can copy this email to all members in the department, and this also can enhance their motivation. (Morrison 2010)

According to Levey, adopting an objective decision making process for talent was important. Talents leave companies that are unstructured and make ad hoc decisions. Give talents a sense of involvement in the decision and making process. Talents want to work in organizations where they know that their ideas and opinions matter. The more an individual feels they are making an impact, the more likely they are to stay.

Comparison

The theory and practice (Citibank) are almost the same, Citibank always provide the challenging task for their talents, because they notice that normally talents like to overcome the challenge. They will feel motivate when working, otherwise they will feel bored easily.

Citibank only focusing on pure talent and whoever has that could survive well here in the platform of working as all are given fair chance to deal and show their talent and the advantages here is regardless the length of service or age we are willing to promote them as long as they have talent even it is within 5 to 6 month time. For example, a talent who just work in Citibank around 8 months, when the manager provide the challenge task for him, he can overcome it and he was promote as a supervisor now. Citibank also provide Spot Award for the talents, all talent are eligible to be considered for the Spot Award. This award is designed to reward talents who have demonstrated performance well beyond their current job scope. The maximum award is RM2500. Citibank provide race among the supervisor and their team members, if their result are in top will get allowance each one will receive RM 300. Talents who done a good job or perform well will receive 1 Citibank coin, after collecting 12 coins within 1 year, they can go for a holiday in London for free.

Citibank cares about what their talents are thinking, the manager will give the chance for talents to giving opinion. Conduct a meeting for to discuss the problem, let the talents participate in the meeting and decision making process.

9. 0 Conclusion

Talent is something that some people are just born with and many value it. Citibank should be the prove where the talent management is very much important to the company in ways it contributes to the companies achievement and it as well provide a valuable performance within the company as now Citibank is one of the most successful bank in the world. Company applications and the theory are similar but not perfectly same and in fact the Citibank take much more effort in managing their talent as for the rewards and attention they give to their talents but their ways of identifying talent is different that theory where theory is more on beginning recruitment and how to identify them out of all their employees where by Citibank goes more to the experienced people and they would like to see fair and square of their talent’s talent. Citibank are being more practical in terms of recruiting, and rewarding, managing and making them stay. Without talent a company could not perform and achieve and Citibank is doing well on their talent management and they are having it more similar but not exactly with theory.

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