Alignment of all capital assets drives organizational effectiveness and success. Human capital, at every level, is the critical asset from which everything else is derived.
Finding great talent used to be like finding the proverbial needle in a haystack. The reality today in human capital endeavors is that the entire haystack must be seen as talent. It is the leadership’s responsibility to match the organization’s needs with the right talent. This is both an art and a science. TALENT-fication™ of human capital and its implications within the organization is critical – few understand, and even fewer will execute effectively to attain organizational greatness.
We have learned a lot from the past several decades of organizational and business research, yet we seem to keep revisiting the same issues.
We believe the reason is in execution. It’s not that organizations need to gain more knowledge but have failed to execute proven solutions.
TALENT-fication™ is the 360-degree view of human capital talent as it applies within an organization and to individuals. TALENT-fication™ must be an enterprise-wide endeavor owned by the Chief Learning Officer or equivalent and supported at the C-Suite level. It must also be simple so that implementation becomes guaranteed. When all of the implications of Talent Management are understood, embraced, and actualized by both individuals and organizations, the organization becomes enormously effective.
To improve upon this level of effectiveness, TALENT-fication™ must be aligned with and calibrated from the organization’s Values, Vision, and Commitments. The organization’s key human capital actualizes these.
TALENT-fication™ does not only refer to the engagement of an individual that you are grooming for the C-Suite. It is about growing and developing every individual to be the best they can be for themselves and the organization they serve. Organizations must focus on their entire pool of human capital, their most expensive (and most valuable) asset, and grooming their top talent for future senior-level roles. Study after study reports a considerably higher failure rate for organizations that bring in external talent for senior positions than those with a strategy for growing their own talent. Organizations that do this properly are much more effective and have a much lower turnover cost.
Research has also found that when individuals experience success in what they do and when organizations have people aligned doing that which they are best calibrated to do and want to do, the output is typically better. This is because people become committed, almost addicted, to wanting to experience that success. TALENT-fication™, which addresses the professional development execution strategy in detail, is the formula to this achieved and sustained reality.
There are eleven interlinked phases in TALENT-fication™, which we have identified as the ACHIEVEMENT process model. Each phase blends to the next, providing real-time feedback that can plug in at any other stage for clarification and enhanced ROI.
Finally, we know from numerous studies that turnover is costly, and it is much less expensive to keep your talent than to replace them. Therefore, we believe TALENT-fication™ will help organizations reduce their turnover and increase their bottom line.
The ACHIEVEMENT™ of TALENT-fication™ consists of understanding and executing the entire lifecycle process:
Awareness of TALENT Lifecycle
Clarify Identification of Needs
Human Capital Acquisition
Integrate & On-Boarding
Engage, Activate & Socialization
Vest all in the process
Enhance thru Development & Management
Move talent thru succession
Evaluate your model or process
Next steps and Post Mortem Analysis
Teach the Organization TALENT-fication™
Alignment of all capital assets around the ACHIEVEMENT™ model drives organizational effectiveness and success. When an individual assumes active ownership and participation into TALENT-fication™ mindsets, all human capital at every level becomes the critical asset that can be managed and leveraged for true greatness!
Written by Dr. Jeffrey Magee, CMC/CBE/CSP/cPDM.
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