Around the turn of the millennium, talent management emerged as a new approach in human capital management in response to a 1997 research by McKinsey and the 2001 book titled The War for Talent. Talent management aims to anticipate the required human capital an organization needs to achieve its strategic objectives. To meet those needs effectively, it employs a series of activities that unfold along a lifecycle.
In part 1 of this two articles-episode, I explained how TIPS can support the initial recruitment phase of the talent management lifecycle (with its three stages of talent planning, talent acquisition, and talent onboarding). In the second and final part today, let’s explore how the human resources function can better retain and release talent. Thereby, we will pass through the remaining stages of the talent management lifecycle.
Stage 4: Talent (re-)alignment
One of the best ways for an organization to retain their top talents is by putting them in a role that they love and can do well. One sentence captures the essence of talent (re-)alignment: Put the right person into the right job.
Organizations that ensure hiring the right new talents for a vacant position tend to comply with this maxim (in stage 2: talent acquisition). Yet, many organizations have put a significant number of those “right people” who are already on board in a “wrong job”. Either they work in a (slightly) wrong role within the right work team, or in a wrong business function. How can TIPS help here?
TIPS suggests what “ecosystems” (business functions, industries, and organizational types) fit the natural talents of each profile type. So, invite all your incumbent talents to take the TIPS online personality test. Then, check how closely the role that each person works in fits their TIPS profile and preferred cognitive styles. Next, discuss the results with each talent and their manager. If desired, realign the roles and responsibilities of all those “right people” who are “in the wrong job” to set free their full talents. Do you want more details on how this works? Take a look at an earlier blog post article titled How to put the right people into the right job.
Stage 5: Talent management
Different talents vary in the way they prefer to be managed by their superior (team manager or senior executive). These differences go back to different personal preferences in cognitive styles that relate to the four TIPS styles (to think, work, interact and live). If you’re a manager, some members of your team may prefer:
taking on more quantitative, analytical duties, while others prefer more qualitative, creative work assignments (thinking style).
working on longer, conceptual projects, while others enjoy ticking off operational tasks on a To Do-list (work style).
you to make your case, and decisions, based on evidence and hard facts, while others want you to communicate and make decisions in a more considerate, consensual ways (interaction style).
a work climate and management style that is more formal, disciplined and on schedule, while others are more casual, free-flowing and flexible on time (lifestyle).
Talent development aims to provide appropriate Learning & Development (L&D) programs that empower your talents to grow, perform better, and prepare them for their next career step. Thereby, it’s essential to move away from one-size-fits-all L&D programs to more individualized upskilling approaches. Such a personalized approach aligns with a fundamental principle of TIPS: “Make everyone play on the natural strengths of their TIPS profiles. Use the other profiles to compensate for one’s weaknesses.”
Do you see the value in this credo? Then focus the upskill training initiatives for your talents on developing their strengths further, and not on eradicating their weaknesses. Read the article Who should be trained in what?, which explains the underlying rationale in greater detail, and also suggests sample training courses that most talents of a particular TIPS profile type find appealing.
Stage 7: Talent performance
Different types of talents tend to excel at producing certain kind of outputs. For example, a person who is good at closing deals typically is poor at writing code.
TIPS can help you understand who has a talent for producing what kinds of outputs. The target outputs that come naturally easy to a person reside in their talent sweet spot. So, if you’ve already put the right person into the right job (talent acquisition and/or realignment)), then that talent can produce the target outputs related to this position easily, effortlessly and enjoyably.
Who is the best talent to lead a business unit — or even the entire organization as CEO? It depends on where in the business cycle a particular business unit, or the whole corporation, locates right now, and whether it’s ready to move to the next development stage.
As a company grows, it’s leadership focus shifts: from creating and launching products, to marketing and sales growth, to solidifying operations, and finally systematizing the entire business. As explained in an earlier article, specific TIPS profiles come to the fore at different development stages as a company gradually evolves from a start-up venture to a large or even multinational corporation.
For example, nowadays, many corporations are threatened by digital transformation and new technologies (especially in some industries such as banking or automotive). They need to start a new creative cycle to avoid the fate of creative destruction. The corresponding TIPS profile to best drive such agile, innovative and disruptive change —either as leader of a new business unit or even as the organization’s CEO— is an Ideator (and not a Systematizer who tends to occupy executive chairs in established organizations).
Stage 9: Talent transition
At some point, talents depart from an organization. In the past, most people stayed with one organization from recruitment until retirement. Nowadays, the end of one talent lifecycle is the beginning of a new one.
In some cases, talents transition into a new organization by their own volition to hike up their compensation or career prospects. In other cases, however, organizational restructuring and automation of business processes force organizations to make some of their talents redundant.
Here, TIPS can become an invaluable tool to ensure that departing talents can smoothly transition into a new role or career. Companies may offer their “outplaced” talents to take a TIPS online test. TIPS allows them to learn more about their personality profile and preferred cognitive styles. (For some, it may be the first time in their career that they’ve got the opportunity to take a cognitive profiling test). By gaining greater self-awareness of their TIPS profile, departing talents can align their next career move to a proper role, industry, organizational type, and business cycle stage, regardless of whether they sign on at a new company or consider starting their own business.
Conclusion: TIPS empowers talent management along the entire lifecycle
TIPS can provide organizations with greater talent awareness. Our cognitve profiling tool can support human resources managers to more effectively manage human capital along all stages of the talent management lifecycle. Knowledge of a person’s TIPS profile allows you to:
a) first, recruit the right talents;
b) then, retain them longer by aligning their job placements, L&D initiatives and performance contributions to their TIPS profile, and by managing them in harmony with their preferred cognitive styles; and
c) finally, release them in style into a successful next career.
Are you a Human Capital Manager and would like to learn more about how TIPS can help you manage your human capital?
Are you curious about what’s your TIPS profile? Buy your TIPS online profiling test coupon for $89 now.