MOS 1021 Nov 20

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Management and Organizational Studies
Management and Organizational Studies 1021A/B
Kevin Thompson

November 20 Readings/Class Notes – MOS Guest Speaker – Deloitte Talent Management: An introduction to HR in professional services – Before HR: “personnel administration.” In past 25 years, change from this to talent management. Talent management: to succeed, you must work in a variety of areas eg. Accounting, various HR positions Deloitte: largest professional services firm in North America. – Opportunity – 150k people working – “Green dot” - branding. Business units: audit and assurance, taxation, financial advisory, enterprise risk services, consulting. Get out of the professional service career – Even when you work in the career, you get to work in a variety of tasks. People like variety in a job. – Eg. fast-paced and dynamic, hands-on, not always 9-5. Challenges every day. Talent Management Fundamentals – Talent = Everyone. Employees with higher than average potential, have high contribution. – All are necessary; top talent is a strategic asset. – Employees who significantly contribute to company value – Recruitment, training, skills. – Should be done constantly – without people, organization wouldn't exist 1. Have a plan – figure out where you want to go 2. Select right people for the right jobs. 3. Once chosen, introduce them to workplace – *induction. 4. After selection = development. Solid workforce if successful 5. Monitor performance. 6. Energize them. Happy people = good organization. 7. Plan for succession – develop people to be promoted to higher positions in the future. Concept of potential – what employee has potential – not only what they can do now; what can they do in the future. It is an investment in people to find out what returns they will give in the future. Talent Management: integrated set of policies, processes, programs and technologies aimed at attracting, aligning, developing and retaining employees to maximize performance and develop business strategy. – About getting it right – right people, right place, right time – Right skills, position, tools, engagement, doing the right things to deliver and exceed business objectives. Competency: behaviours, observable and measurable attributes, that will drive performance – set of observable behaviours comprised of knowledge, skills and abilities indicative of performance for a particular role – Enduring qualities – transferable across tasks and work settings – Observable and measurable – Aligned with key business objectives and values to foster a company's success Leadership, professional and technical competencies Professional: those things that enable you to apply knowledge Leadership: common and required for leaders to be successful eg. Coaching, mentoring Technical: focus on a specific job role Why competency models? – **Companies that use this outperform their industry's return by 22%. Organizations that have well-executed talent programs deliver increased
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