Talent Management Model_ the 5 B's

1
Talent Management Model: The 5 B’s 20 January 2016 Paul Leibowitz 2016 has begun and analysts expect it to be the most difficult year for South Africa since the 2008 economic crisis. Markets are volatile and the Rand is taking a pounding. This is a big worry both for consumers, as well as organisations. Whilst Talent Management is always critical to organisational success regardless of the economic climate, it becomes even more critical during difficult times as organisations needs to do more with less. This implies attracting and selecting the best talent, managing and developing them effectively, and ensuring they stay and are retained in the organisation. It sounds fairly straightforward but it is not. Organisations employ numerous specialists to achieve this from HR practitioners, to Industrial Psychologists, to OD specialists, Change Managers, as well as Wellness Consultants to name a few. Whilst there are many Talent Management models, theories and practices, a very simple Talent Management Model that can be used is called the 5 B’s. This is a model I was exposed to at a recent HR conference in Kenya. The model involves 5 steps that serve as a starting point for a developing effective talent management. 5 B’s Talent Management Model Buy – this involves the recruitment process and how you buy your talent. Build – how you build, grow and develop your people from a skills and competence perspective to ensure continued competitive advantage. Borrow – securing the assistance of internal or external consultants, or even expatriates etc. to help for a short period of time so that the necessary talent is available. Bind – focussing on how you retain and bind your talent to the organisation. Bounce – focussing on how you let go of people who are not fit for purpose. Each organisation is different, but if every company ensures that their talent management strategy links key activities that are aligned to their culture, challenges and contexts, they should be able to guarantee that the key elements of a successful talent management strategy will be in place.

description

Describes Talent Management by Five B's: Buy – this involves the recruitment process and how you buy your talent.Build – how you build, grow and develop your people from a skills and competence perspective to ensurecontinued competitive advantage.Borrow – securing the assistance of internal or external consultants, or even expatriates etc. to help for a shortperiod of time so that the necessary talent is available.Bind – focussing on how you retain and bind your talent to the organisation.Bounce – focussing on how you let go of people who are not fit for purpose.

Transcript of Talent Management Model_ the 5 B's

Page 1: Talent Management Model_ the 5 B's

Talent Management Model: The 5 B’s 20 January 2016  Paul Leibowitz

2016 has  begun  and  analysts  expect  it  to  be  the most  difficult  year  for South Africa  since  the 2008  economic  crisis.

Markets  are  volatile  and  the  Rand  is  taking  a  pounding.  This  is  a  big  worry  both  for  consumers,  as  well  as

organisations.  Whilst  Talent  Management  is  always  critical  to  organisational  success  regardless  of  the  economic

climate,  it  becomes  even  more  critical  during  difficult  times  as  organisations  needs  to  do  more  with  less.  This

implies attracting and selecting  the best  talent, managing and developing  them effectively, and ensuring  they stay and

are  retained  in  the  organisation.  It  sounds  fairly  straightforward  but  it  is  not.  Organisations  employ  numerous

specialists  to  achieve  this  from HR practitioners,  to  Industrial  Psychologists,  to OD  specialists, Change Managers,  as

well as Wellness Consultants to name a few. Whilst there are many Talent Management models, theories and practices,

a  very  simple Talent Management Model  that  can be used  is  called  the 5 B’s. This  is  a model  I was  exposed  to  at  a

recent HR  conference  in Kenya. The model  involves  5  steps  that  serve  as  a  starting  point  for  a  developing  effective

talent management.

5 B’s Talent Management Model

Buy – this involves the recruitment process and how you buy your talent.

Build  –  how  you  build,  grow  and  develop  your  people  from  a  skills  and  competence  perspective  to  ensure

continued competitive advantage.

Borrow – securing  the assistance of  internal or external consultants, or even expatriates etc.  to help  for a short

period of time so that the necessary talent is available.

Bind – focussing on how you retain and bind your talent to the organisation.

Bounce – focussing on how you let go of people who are not fit for purpose.

Each organisation  is different, but  if every company ensures  that  their  talent management strategy  links key activities

that  are  aligned  to  their  culture,  challenges  and contexts,  they  should be  able  to guarantee  that  the key elements of  a

successful talent management strategy will be in place.