Required Assignment 2â€”Develop a Talent Management Plan
In this assignment, you will develop a talent management plan for the company in the following scenario.
Review the following scenario:
You work in the human resource department of an electric power company in the southwestern region of the U.S. The company was founded in 1940. It has an excellent reputation as a provider of electricity, an outstanding corporate citizen, and an excellent place to work. It has been ranked among the top three employers in the community for several years.
The companyâ€™s mission is to serve customerâ€™s needs for electric power in ways that provide exceptional value to all stakeholders including customers, shareholders, employees, and the communities in which it operates.
Its values include providing a safe work environment; ensuring fairness and respect for customers, employees, shareholders, and partners; honoring commitments to use resources wisely; providing a high quality of work life for its employees; striving for excellence; and having fun.
Given its long history, many of the companyâ€™s current employees are children and, in some cases, grandchildren of former employees. Thus, there are close family ties to the company as well as a sense of loyalty.
However, over the years, technological advancements in the power generation business have resulted in jobs being either redesigned or eliminated. For example, in the past, the company had many employees who read meters that showed the amount of electricity used by households. Meter readers traveled from house to house each month to log the information for billing purposes. Now, meters are read automatically and data are transferred to the billing department via computer. This technological advancement has eliminated the need for many employees who were required to resign, be laid off, or be retrained for other positions in the company.
The company faces a challenge as it strives to maintain its reputation as an excellent employer in the community and yet leverage advances in technology to help it increase efficiency and remain competitive.
Given this scenario, develop a talent management plan for this company. Complete the following in your talent management plan:
- Develop a plan that is aligned with the mission statement, the organizationâ€™s processes, and any specific assumptions about the culture of the organization and human resource systems.
- Identify any financial implications and/or constraints.
- Identify the gaps in the organizationâ€™s current management talent. Make sure you identify gaps in the depth and breadth of management talent and use all factors of the human resource system.
- Propose and describe in detail 2â€“3 interventions that would help mitigate those gaps. Make sure you justify your ideas with scholarly research.
- Develop a plan to counsel out or otherwise redirect individuals who have served the organization well, but are inappropriate for further promotion.
- Justify the effectiveness of the talent management plan for this company.
Be sure to write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation.
Write a 6â€“8-page paper in Word format. Apply APA standards to citation of sources.