Talent Management
What are rewards or compensation? aka What do they impact?
These help keep employees happy and motivated.
Why is Workforce Planning important?
Crucial for maintaining optimal staffing levels, preventing both overstaffing and understaffing.
What is Talent Value Chain?
define principles & strategic objectives, plan, attract, train & develop, assess & promote, and engage & affiliate
What is Talent Acquisition?
This is focused on hiring qualified candidates for immediate needs.
Pro or Con. This ensures a company hires the right number of employees, avoiding excess or shortage.
Pro
What is talent?
This is a natural pattern of behavior that can be used in a job.
What is assessing workforce supply?
This step involves reviewing current employees and available talent.
What is assessing the candidates?
Once candidates are found, this step evaluates them to determine who is the best fit.
What are the approaches of Talent Management?
Inclusive, exclusive, Strategic, Technology, Employee Centric
Pro or Con. This requires significant time and effort to be effective.
Con
What is job analysis or forecasting?
This is how you find out what jobs need to be filled.
What is assessing workforce demand?
In this step, a company figures out how many employees it will need in the future.
What is something some companies may ignore and not prepare for?
Managers approaching retirement age
This group is responsible for recruiting, interviewing, and selecting candidates.
Talent Acquisition?
What is organizational agility?
This is the ability of a company to quickly adapt to changes, which is improved by workforce planning.
What is building a recruitment pool?
This step is about finding people to apply for the job.
Who is the father of Modern Management who gave the concept of Talent Management?
Peter Drucker
What is auditing and reviewing?
This final step reviews the hiring process to ensure it was effective and identifies areas for improvement.
This group shares responsibility for employee training, development, and career growth.
Talent Management
What is high resource investment?
This downside refers to the amount of effort and money required to implement workforce planning successfully.
What are selection tools?
Tests and interviews are examples of these.
What is monitoring progress?
This final step tracks how well the plan is working and adjusts it if needed.
Who is David Ulrich
He gave the concept of talent management in the context of strategic HR.
What is the process of Talent Mangement?
Plan, Attract, Select, Develop, Retain, Transition
What is improving recruitment and retention?
This advantage of workforce planning leads to better hiring and employee retention.