Talent Management

The organization, Small LLC, is an accounting firm in Florida. Small' offers services from tax accounting to financial planning. There are 200 employees this includes the admin staff (clerical, office manager, and human resources staff) to the senior accountants. There are 20 senior accountants that are identified leaders. There are 8 partners that make up top management. One partner is the managing partner that is elected by the other partners. This paper will: Determine which performance management process Small LLC will employ to measure employee talent, Analyze the key concepts related to the talent pools and the talent review process, Develop appropriate talent management objectives to measure functional expertise, Assess the key elements of global talent management as they apply to Small LLC and finally Recommend a process that optimizes a sustainable talent management process.

Sustainability is an ever-changing end state; "one knows that one doesn't know" what that end state will be. Acknowledging and accepting that no one knows definitively is an important part of designing and implementing sustainability workforce. Organizations engaged in sustainability management are at an advantage in hiring top talent. In a recent study (Wirtenberg et al., 2007, p. 16) of the most highly regarded sustainability management companies said," The better [our firm] is branded as a company that's sustainable and doing the right thing, the better I'm going to be able to attract talent, because the talent wants to work with the best companies, and the best companies are those that not only get results, but do it in a way that creates a sustainable environment." (Lipsky 2009) When looking at a small locally owned accounting firm such as Small LLC you have to determine the effects employee performance and how sustaining talent management can help the company grow into a high performance company.

Performance Management Process to Employ

Performance management can be define as the systematic process by which an agency involves its employees, as individuals and members of a group, in improving organizational effectiveness in the accomplishment of agency mission and goals. Employee performance management includes five stages. They are planning, monitoring, developing, rating, and rewarding. (OPM.gov, n.d.) The performance management process is a method of management design to ensure organization and all its components are working together to optimize the organization goals. When looking at employee performance at Small LLC, there are several ongoing things we want to do. They are: identifying and prioritizing goals, regularly review progress and create improvements when needed. Of course the most important part of the process is hiring the right talent in the right role at the right time. Attracting and building a high quality workforce will help Small LLC become a high performance company.

Outlining how to measure employee performance and clearly writing employee roles, duties and responsibilities will help Small Performance rating. Performance goals and expectations are established to show employees where the organization wants them to work towards. Most company has monitor points to help check the progress of employees reaching goals. Providing effective and timely feedback to employees for their work and performance an also help performance and motivate employees to do better.

Key Concepts Related to Talent Pools

A comprehensive approach to talent management starts with a strategy that aligns selection, retention, and development initiatives with organizational goals and objectives. The aim of your organization's talent strategy is to be intentional about managing talent to meet the short-term and long-term needs of the company. By anchoring talent strategies to overall business strategies, you are able to build the business rationale for developing your organization's talent pool. While organizational leaders are often adept at identifying outstanding performers, there can be difficulty identifying employees with the most potential, thus resulting in an incomplete picture of top talent. (Calibra n.d)

Looking internally for talent is also important. Some of the most qualified candidates are already working for you. This is where the review and monitoring process comes in handy. It allows for the individual to note new accomplishments and trainings to show what assets they can bring to the firm. The talent reviews can show where the employee is excelling and where additional training may be needed. By looking at their growth and development they can easily be considered for opening within the organization. This can save cost for the organization because the employee is already familiar with the organization and may not need as much training as an outside candidate.

By creating organization-specific definitions of high performance and high potential, leaders have a standard to assess their talent against. These definitions will help facilitate deeper dialogue between leaders during the talent review process and will provide insight about which employees are top talent. Each high potential employee (in fact, all employees) should have an individual development plan. A typical plan should focus on development over the next 12 - 18 months and contain no more than three specific goals, to maintain focus. It is important that the development goals complement the employee's performance goals to avoid redundancy. While compensation is rarely the lone reason talent stays with an organization, we would be remiss if we failed to recognize the message monetary rewards can send. Organizations should look to create transparent compensation systems that differentiate average from excellent and reward top talent appropriately. Organizations should look to invest more in top talent, since these employees produce more per dollar spent