Evaluating Leaders Effectiveness in Strategic Roles of Formulating Performance Management Strategy - Research Paper Example

? Southern Company Southern Company Evaluating Leaders’ Effectiveness in Strategic Roles of Formulating Performance Management Strategy The leadership team of Southern Company has played an important role in strategies for managing performance in the organization. In this case, this role commence with identification of performance standards, which is based on leaders’ understanding of expectations at given leadership levels. In order to evaluate the effectiveness of strategic leaders’ role in formation of performance management, there is a need to undertake a situation analysis, self-evaluation, and competitor analysis, which is undertaken at internal and external levels; besides, it should be undertaken at both micro and macro environmental levels (Bleak & Fulmer, 2009). On the other hand, there is a need for assessment for setting objectives, which are parallel to a timeline; for instance, they may either be short-term or long term. Furthermore, this assessment involves identifying a vision statement, mission statements, and corporate objectives. In this case, leaders in Southern Company’s effectiveness in performance management there is a need to focus on long terms perception regarding the future of the organization. There is a need to focus on the leaders’ management of performance based on their role of organization towards the society, extent to which tactical objective has been achieved, and strategic business objectives. Therefore, the extent to which these objectives has been achieved based on the situation analysis focuses on the suggested strategic plan in the organization in terms of details of these objectives (Bleak & Fulmer, 2009). Effectiveness of formulation of performance management strategy focuses on assessment of resource allocation and management; in fact, these resources include financial, personnel, time, and technological support resources. There is a need to identify the chain of command and the substitute structures such as cross functional groups. Leaders’ effectiveness in formulation performance management strategy focuses on the process of assignment of responsibility regarding certain tasks or processes to individuals or teams. On the other hand, this evaluation focuses on management of processes such as monitoring results, comparing benchmarks and appropriate practices. Furthermore, there is a need for evaluating processes that involve efficacy and efficiency of controlling variances and process of adjusting necessary processes in the organizations. This evaluation focuses on the extent of implementing certain programs, which involves the acquisition of requisite resources, development of other processes such as training, testing, documentation, and integration with legacy processes. This evaluation also focuses on the direct interconnection between leadership development strategy and corporate strategy, which offered a significant benefit to an organization and employees. Moreover, concept applied by leaders in the organization, in the process of leadership development; in fact, this evaluation focuses establishing philosophy of leaders in establishing the meaning of employees at all levels of the organization (Bleak & Fulmer, 2009). There is also effectiveness in leadership development in terms of corporate planning and formulating business strategy. In this case, this focuses on leadership development in to business strategy based on the metrics of establishing a network in the leadership to business. Therefore, effectiveness of formulating strategies for performance management in terms of designing ways of reinforcing corporate strategy, which can facilitate ensuring linkage and success. Five Point Criteria for Evaluating Effectiveness of Talent Management Strategy and Collection of Data The first criteria of evaluating the effectiveness of a talent management strategy in organizations focus on the process of determining the talent requirements, which are strategically significant to the organization (Silzer & Dowell, 2010). The second step involves considering the sufficiency of internal talent in the process of meeting short and long term business needs of the company. In this case, this step involves identifying and building the required talents in the company or else acquire from external sources. Moreover, identification of talents can be facilitated by a table proposed by (Bleak & Fulmer, 2009), whereby competencies are identified for leadership talent. According Silzer and Dowell (2010), talent management refers to integration sets of processes, programs, and cultural norms in a company, which are designed and implemented for the purpose of attracting and deploying and retaining talents. In this case, this can enable achievement of the strategic objective and meeting future of business needs. The third criteria of evaluating the effectiveness of talent management strategies involve developing a list of components, which are necessary for implementing in a talent management programs strategy. These elements include, recruitment, selection, promotion, placement/assessment assimilation, initiatives that facilitate retention, recognition of programs such as training and development of professionals; besides, it involves coaching and mentoring leadership development for performance management. Fourthly, step of evaluating talent management process, which focuses on a pool of talent of specific individuals. Moreover, this step involves a wide perception regarding the need for integrating talents and implementation of strategies. Therefore, talent management surpasses hiring the person that best suits the position to be filled in the organization; thus, this focuses on a person who is qualified for crucial positions in the future (Armatys, Caldwell, Katherine, Kohn, MacLeod, 2008). In this case, this focuses on necessities involving a change based on data collection and analysis. On the other hand, this step involves managing employee information in various departments in Human resource department. This step focuses on the talent management process, which requires integration of information gathered from Human Resource information. In this case, this facilitate establishment of modern initiatives that as assist achievement of business goals. The fifth step of evaluating the effectiveness of strategies applied in talent management involves integration of modern technology. In this case, this step involves cloud computing and analytics, which enables the realization of talent management strategy (Armatys et al, 2008). Furthermore, this phase involves disjointed tools and manual workarounds. In this case, this focuses on break down of barriers between functions of human resource and information technology. Beside, this integration focuses on the effectiveness of integrating technology and talent management solutions. Therefore, effectiveness of technology and talent management and this allows transformation of services delivery model in organizations. Critique the Components Talent Management Strategy and Alternative Ways to Achieve Effective Results Various elements of talent management strategy involve integration with a system that involves adherence to the specific practices of the organization. These components entail identification of long-range plans, undertaking regular progress checks, connecting business strategies, which are required for competencies (Bleak & Fulmer, 2009). Other element involves the development of talents of mind sets, whereby leadership integrate talents related initiatives. Nevertheless, there are alternative ways of achieving effective results, and they include; One of these alternatives includes development of talent mindset, whereby leaders in the organization are able to establish a mindset that facilitates active participation of acquisition and development of talent. In this case, company culture has been regarded to be the soul of organizations; thus, this calls for strategies formulated to facilitate the creation and sustainability of purposeful engagement in rewarding and increased performance. Furthermore, this requires focusing on activities such as annual talent planning process. The other alternative involves establishing progressive checks, whereby the organization develops strategic plans, which has an influence on acquisition and development of talent (Blakely, 2012). In fact, this process entails conducting annual progress checks on a quarterly basis, thereby involving reviews aimed at assessing changing strategies, which explore emerging market in terms of opportunities and challenges. On the other hand, there are necessities of adjustments made through plans undertaken by a company, whereby they build the competency models that are revisited in order to increase effectiveness overtime. The other alternative involves interlinking business strategies required for competencies. In this case, attention focuses on the right direction based on the process of planning talent management (Blakely, 2012). In addition, this also focuses on establishing co-relationships between the business strategy and the competence required for implementation of these strategies. Besides, this focuses on the personnel, who are considered crucial elements or central positions, though which projects are implemented based on the influence of success or failure of strategic plans. On the other hand, there is a need for focusing on ways of integrating talents through initiatives, whereby a company created an appeal in the process of recruitment, on-board, engagement, development, rewarding, and retaining employees’ talents in the organization, whereby they are expected to function consciously in concert (Blakely, 2012). On the other hand, there are employees who undertake these functions through ways of participating in annual talent management planning process. These processes are undertaken on a quarterly basis through reviews by business leaders; besides, they are expected to support them. ? Outline of The Functional Expertise Component of this Strategy and How It Optimizes the Company’s Ability to Identify Highly Qualified Individuals One of the functional expertises regarded as components of strategy that can optimize a company’s ability to identify high qualified individuals is use of technology. In this case, leaders can develop a comprehensive Human Resource database containing information regarding talents (Webster, 2008). On the other hand, this database can be managed through talent management software, which can be utilized putting into considerations of the comprehensiveness of suits of the modules. Moreover, this software ought to have numerous modules that are integrated with talent management system. In fact, this system focuses on management of the learning process, performance management, and talent planning (Webster, 2008). Therefore, this focuses on addressing integration issues through software, which offers an interface and a way of eliminating problems. There is a need to implement a process management, which is configurable in terms of flexibility of application in a way that matches the business process. References Armatys M., Caldwell, D., Katherine, J., K., Kohn, M., MacLeod, M. (2008).The State of Talent Management: Today’s Challenges, Tomorrow’s Opportunities. Human Capital Institute & Hewitt Associates. Retrieved on August 24 2013from: http://www.hci.org/files/portal-upload/hci/hciLibraryPaper_79300.pdf Bleak, J. & Fulmer, R.(2009). Strategically Developing Strategic Leaders. Duke Corporate Education. Retrieved on August 24 2013from: http://www.dukece.com/papers-reports/documents/Strategic_Leaders_000.pdf Blakely, A. (2012). Top 10: Talent Management Strategies for 2012. Human Capital Services at Baker Tilly in Milwaukee. Retrieved on August 24 2013 from: http://www.wicpa.org/Content/Files/PDF/On%20Balance/JanFeb12/Top10.pdf Webster L. (2008). Best Practices of Talent Management and Succession Planning. Trade Press Services. Retrieved on August 24 2013 from: http://www.learnshare.com/v3/files/Best%20Practices%20of%20Talent%20Management%20and%20Succession%20Planning.pdf Silzer, R. & Dowell, B. (2010). Strategy-driven talent management: A leadership imperative. San Francisco: John Wiley & Sons. Read More