Make Your Company a Talent Factory - Assignment Example

Make Your Company a Talent Factory Organization spend huge amount of money on finding the best person suitable for jobs and conduct tests andinterviews. Many firms in trying to find the best option also conduct talent hunts. Instead of all this firms struggle to fill in people for key positions, which demand the desired expertise. The reason being that top executives though emphasize on keeping the best people as a priority but in reality the commitment to find them is not there. When organizations try to take their businesses to international grounds they select the best people possible for the job but usually find that these are the same people actually working on important prospects within their organizations in the domestic market. Here we look on those organizations that are well prepared for the future and have a strategy that is suitable to groom future leaders. These organizations have talent factories working internally or we can say they groom people for future so they can take up bigger responsibilities. They do this by merging two important things these are functionality and vitality. These people who are being groomed tend to become future leaders for the organizations. In this article the reader has looked upon the two top talent factories Procter & Gamble and the HSBC group both have different approaches to groom people for future but have been successfully grooming future leaders for some time. Functionality basically refers to the processes, tools, and the systems that allow any firm to put the right people at the right positions; this helps in linking the processes of the company to its objectives. HSBC follows the motive of giving people the feel of a local bank when they operate internationally, and link it with their daily processes to make it possible. HSBC keeps track of the people that are performing well at lower positions all over the world in their organization. The management conducts interviews, tests and gives 360-degree feedback to ensure the capabilities of an employee. The employees are then filtered and classified as who will excel how much in how many years. Records of these employees are kept and they are given vital opportunities to show their talent. The senior management told the employees that if anyone wants to reach the top management position he or she needs to work at least in two other countries. The people of higher management in HSBC usually know their counterparts in other countries this builds a network of HSBC which enables them to collaborate in an easier way. Procter and Gamble on the other hand follows another strategy for talent hunt. P & G conduct its talent hunt through their growth plans; the organization hires new recruits from the local markets of the country they are operating in. For example hiring officers in China hire Chinese locals. This way the organization exploits talent from the country they are operating in. The new recruits are considered to be future leaders in the market they are working, but the higher level managers are still hired globally meaning that the executives decide of their hiring. P & G conduct training programs to train new recruits, special training programs outside the resident's country are also conducted. The organization helps new hires through mentors and special cross functional teams. The new employees are constantly given different opportunities to prove themselves, for example in 3 to 4 years of his or her hiring an employee has worked on more than 5 products with different people and in different scenarios. The organization has a very efficient system of hiring and pays close attention to it. The talent hunt system is conducted through a proper procedure with a program that keeps track of middle and upper middle managers. Their performances and successful projects in the past and the projects they are working on in the future. The managers are then promoted appropriately, according to their merit. Now coming to Vitality that is the other part of the combination of talent factories. Vitality is a product of three attributes these are commitment, engagement and accountability. The rules of vitality that are being followed at P & G are very simple they have a high hiring rate of fresh graduates that is about 90%. They pick their new employees directly from universities and then developing them internally, this procedure is followed globally. To enhance this procedure they also conduct a program of internship, which is available to students that are currently studying in universities. The internees usually turn out to be future employees of the organization, this compensates for the internship program cost. At HSBC the executives are committed to give importance to the talent search. The new employees first decide their own destination job for the future then according to their future ambitions they conduct projects and work. The career of these employees is marked by practices and policies, they are guided at all times about their objectives and goals to keep them on track. Regular meeting are held to make employees know each other, team objectives are decided according to the members future jobs. Both the organizations P & G and HSBC give special importance to their talent hunt programs and procedures. The process of hiring new recruits is conducted with complete honesty still there has been hiring that should have not been. The higher management's commitment has been remarkable as they realized that the future of the firms lie in their decisions. The executives at P & G give special importance to talent hunt programs as they say that these programs build future leaders. Many leaders have said that people are the biggest assets of any organization, but using them effectively and efficiently have been the need of the situation right now. Any organization that wants to or plans to grow on the international scene needs to give importance to the people it is putting on important position. Organizations that look for best technology and other technical aspects do prosper but the thing that matters the most is people. Bibliography Alex J. Malone. Managing Your Greatest Assets - An Essential Guide to 'Real-Life' People Management. Trafford Publishing (July 6, 2006). Read More