Talent Crisis !!!!

There is a great increase in Talent Crisis in world.Let it be any country, any region .This issue is emerging and growing.. Lets See how can be over come it. Planning a Talent Management Approach Implementing new strategies and tactics to attract, Developing and retain talented employees will help organizations manage the talent shortage and mitigate the risks associated with a workforce growing at a much slower rate than in the past. These strategies will ensure organizations fill current and future pipelines with talented employees whose Development can be accelerated. It is essential that organizational leaders commit to a planned talent management approach and then hold the organization accountable for implementation. This means, in part, working to identify where gaps exist and creating talent pools of outstanding employees who can move into new roles. Effective branding and recruiting will enable successful external recruiting where internal gaps persist. Attract Few would argue that attracting talented, hard-working, productive individuals is important to any business or institution. Addressing this issue with leading-edge thinking will become increasingly critical as organizations attempt to draw talent from the more limited pool of potential employees. In this environment, you must sell the organization to job candidates. Some proven methods for recruiting high-potential employees include: Communicate your organization's overall reputation and track record of success. Identify targeted pools of traditional and non-traditional external talent and invest in attracting those potential employees. Share your organization's reputation for investing in and Developinging talent. Use effective branded communication to sell your organization to the candidate, creating an "employment brand," along with a well-articulated Employee Value Proposition. Developing To prepare for the workforce of the future, organizations must identify the skills required for all key positions in the organization. It is vital to carefully manage the pipeline of talent to ensure that the supply meets the demand forecasted, based on organization's business strategy. High-performing individuals want to be assured of an ambitious and rewarding career path, making targeting and timely training and Developingment programs essential. The talent management process must be fact-based, beginning with the talent implications of the business strategy and delivering the right mix of key talent in the right place at the right times. Effective approaches to Developinging top talent include: Assessing current leadership abilities so Developingment activity is focused on each employee's strengths and areas of interest. Designing tailored Developingment plans that are supported by participants and their managers, and that emphasize on-the-job experience rather than training events. Linking Developingment activities and investments to business strategy and success, and measuring and reporting Developingment ROI. Providing coaching and learning support to ensure ongoing Developingment. One such coaching and learning program includes on-boarding new executives. Executive on-boarding, a key investment to ensuring the success of a strategic hire, typically involves intensive coaching that focuses on a successful transition into a new role during the critical first six months on the job. Retain While employee retention generally is an important issue for CEOs, retaining talented, ambitious employees is a particularly complex task. These high-performing individuals recognize that opportunities for advancement exist outside their organizations. The pressure to replace experienced employees, managers and executives will escalate as retirements for the nearly 80 million members of the baby boomer generation accelerate dramatically in the next decade. To support retention programs for your high potential employees, consider implementing the following action plans: Hold managers accountable for retention-related actions and improvement. Developing a business case for increasing employee retention. Use metrics to assess the cost of turnover by forecasting the financial penalties of unfilled positions. Focus on recruiting individuals with the appropriate skills for the job, using valid assessments to verify that the employees you are recruiting possess the right skills. Research shows "realistic job previews" reduce turnover by 10 percent or more. Ask candidates to review in a job previews that describe the advantages and disadvantages of the position. Don't Forget to Measure Effective performance management initiatives should balance measurement and feedback on the results desired and the behaviors required to deliver optimal results. This is critical to maintain a sustainable competitive advantage in an increasingly service-oriented, knowledge-based economy.