Nurturing Global Leadership Talent - Coursework Example

LEADERSHIP DEVELOPMENT THROUGH CHALLENGING OPPORTUNTIES AND OPPORTUNITIES LEADERSHIP DEVELOPMENT Instructor name: Insert name: Course code: March 13, 2011 Introduction Of recent, the area of human resource has become more strategic and more global and hence becoming more significant and crucial to the organization. Despite the fact that not all companies have recognized this, those that are most effective and most admired seems to have acknowledged this fact. As a result, these effective organizations are carrying out their responsibility in the best they can to make their management even more effective. To accomplish this, there are a number of issues that these companies are observing: (a) the responsibilities that the HR departments as well as its HR experts have customarily taken part in have been varying gradually; (b) the proficiencies necessary for the HR experts to carry out these novel responsibilities are as well varying swiftly with spectacular repercussions on the current HR employees and executives; (c) the HR experts are functioning more intimately, in joint venture with line supervisors, workers, contractors as well as with legislative body of labor unions, strategic associates along with society affiliates so as to be further successful in running the company’s personnel; (d) the arrangement of the HR subdivision as well as that of the HR role are being refurbished with an aim of serving different partakers of HR in an enhanced way so as to make the administration of association along with the populace more successful. As companies throughout the earth develop into a more autonomous, apparent and answerable for their existence and their proceedings, so management is seen not as something that is intense on one individual at the crest, but as a tradition that flows down through an association. As it has been found from various studies from interviews with Heads of Human Resources in big companies, organizations have become much more focused on the need to develop systematic talent management processes that will identify who are the best performers in their business, which executives have the potential for long-term career development, and how the business can facilitate this process of development. This document draws round a number of the key people challenges facing international organizations today and tomorrow. It will also examine the role of leadership as well as the key talent issues that need to be faced (Mani, 2007). Nurturing global leadership talent An effective HR plan assists in developing and nurturing global leadership talents. It plays a great role in producing a successful global leader, who ought to have a set of three competency clusters: business acumen, relationship management, as well as personal effectiveness. First, it is important to have a comprehensive understanding of the entire business and an excellent foundation in the professional knowledge and skills needed to do the job. Second, a global leader ought to cultivate quality relationships to take advantage of the diversity of managers from various cultural backgrounds. Acculturation capability entails the manager’s ability to integrate into the foreign environment and to adapt to the international assignment. Strong cross-cultural communication skills, relational abilities, and a non-ethnocentric mind-set are critical to this adaptation, as are personal characteristics such as emotional stability and the effective handling of stress. Third, developing effective global leadership is as well strongly influenced by the motivation to live abroad. Global leaders ought to possess the desire and maturity to experience the unfamiliar world around them with an open mind. A geocentric mind-set results in a globally socialized manager whose scope and mental geographic context contribute to acculturation ability and effective international management (Vance, Vance &, Paik, 2006 p. 99). Succession management International HR plan is vital in the development of succession planning, which further helps in the development of leaders. This plan helps identify the strengths and development needs of people who are occupying critical positions and have direct impact on the performance of the business. Succession management or planning is concerned with the management of the future of an organization, to make sure that the talent and potential is obtainable and prepared to assume leadership roles. Succession planning is currently a hot issue to organizations and might continue to be. People and aptitude matters are largely identified as vital to company achievement in both terrible and superior financial times. As the economy deteriorates, people issues like workforce management, retention, and organization restructuring as well as employee engagement are frequently cite as the executive committee’s top issues. On the other hand, as the economy improves, business issues linked to recovery such as building workforce strategies that are based on workforce trends and demographic shifts, entry into new markets, and internationally mobile workforces in addition to the ever-changing risk and threats become top priorities. There are several factors that have brought the talent and leadership issue to where it is today, but the main factor that is most readily apparent, and already impacting numerous businesses and industries is the ‘Baby Boomer’ Phenomenon. This is causing the talent pool to shrink and one can easily see that competition for the top performers with exceptional potential will become increasingly intense. This is because of the fact that, based on recent studies, for every two ‘Boomers’ who leave, or intending to leave, they are replaced by only one qualified person. The main challenging facing companies is retaining their top performers and preparing them for succession to more senior posts, while at the same time attracting other top performers from outside, to make sure they have a sufficient complement of leadership talent to take their organization into the future (Lissak, 2009). HR transformation According to the research survey that was recently conducted by Deloitte concerning HR Transformation, the outcomes showed that 84% of respondents are either currently transforming HR or are in the process of doing so. The majority of HR senior managers view HR revolution as the instrument they can utilize to redeploy their HR associations on the appropriate business matters and to give services in a competent, successful as well as yielding way. For several years now, most of companies have been striving to transform HR by enhancing the efficiency and effectiveness of HR operations. Nevertheless, operational excellence is just a section of the holistic transformation. According to the responses from this survey, most companies continue to cling to an observation that is founded on the pyramid form in which nearly the entire responsibility carried out by HR is directorial in nature. It is the high time that companies take a new as well as significant look at HR transformation through the use of the International HR plan. The most significant thing that HR ought to do so as to change is to verify that it is directing its center of attention on the correct precedence and building agendas that are significant to the company. To achieve success, HR needs to utilize the International HR plan to build consensus with the business leadership to ensure that the HR vision, services and delivery models are aligned to their needs, and also consensus within global HR organization concerning the plan forward (Center for Creative Leadership, 2010). International HR plan helps in making More Informed Personnel Decisions The fundamentals to effective talent and succession management are personal assessment and competency modeling. Both personal evaluation and competency modeling offers a solid foundation on which to come up with informed data-based decisions concerning the present as well as future leaders of the company. Competency models offer leaders with precise business-focused targets and profiles through which they can constantly employ, expand, promote, review and reward human resources as well as other leaders at all ranks. This synergistic outcome connecting HR subsystems brings significance both in economies of scale and talent. Connecting HR subsystems to a universal denominator, like competency models, also impels operational efficiencies, which comes in handy during hard economic times. If the company possesses an extensive range of ethnically flexible personal evaluations, this permits executives to locate the exact people to utilize, uphold, build up, place and change. The use of capability form base with precise, reliable and lawfully defensible personal evaluations permits leaders to put the correct individuals into the accurate locations at the right time, thus impelling overall managerial efficiency, excellence and impact (Lado and Wilson, 1994 cited in Harvey & Novicevic, 2001). A competency-based model deals with the dynamic nature of the global environment by acknowledging that the initial set of competencies (both organizational and personal) ought to be renewed through the development of new competencies through orchestrated selection of better and more qualified expatriate managers. International HR plan helps in Ensuring continual skill development For companies to make sure that there is a consistent skill development, they need to take a logical action of continuing or increasing to invest in the development of leaders at all levels. Preparing a strong leadership pipeline of ‘ready-now’ candidates based on their evaluation and development makes sure that those leaders who continue serving, or remain after downsizing, have the ability to perform at high levels as well as doing more with less and leading effectively through change. When the organizations have a strong succession management process in place, and identify high potential and high performance leaders, they remain in better position to identify talent to take on novel responsibilities resulting from organization’s changes (Cohen, 2009). The best method to maintain the talents and abilities of the best continually honed in addition to abetting the continual development of the ‘up-and-comers’ is to offer targeted training in how to deal with the transformations occurring around them for which they have comparatively little control. Training assists these leaders perform better apart from demonstrating the organization’s long-term commitment to maintaining them. Assisting leaders learn how to manage change more effectively prepares them to perform more effectively both during and after the downtown (Edinburgh business school, 2008). Experience, exposure and accountability in leadership Leadership development is much linked to the issue of talent management for senior leader in a company. Headship growth ought to aim at initiating regulations that will make certain that an association maximizes the present and prospect performance of its executives. Although the official teaching series and meetings that convey vastness of standardized training are relevant, the most important factor is on regulations that make sure that leaders attain the right company knowledge and higher administration experience. This brings us to the conclusion that leadership development is not solely a human resources discipline. The concentration and the imminent of the organization’s current directors, together with prearranged experience to a number of the more demanding trade occurrences encountering the company are very crucial to increasing its subsequent headship group. Real discipline is needed to make this happen effectively since the stakes are much higher than many organizations realize. Studies have shown that making sure that an organization has good number of competent directors makes by far the most impact on its efficiency. To make sure that their leadership development strategy is successful, companies need to drive real accountability for leadership development among the line managers of the business as this instills a disciplined approach. To strengthen this, line managers are supposed to be trained to make sure that they can introduce leadership development practices as well as leadership reviews that have the same ‘teeth’ as their regular budget reviews. To achieve this, leaders are require to work an extra mile to acknowledge the abilities, strong points and weak points of all managers in their particular areas in a reliable manner, and to evidently disconnect their evaluations of performance and potential from their assessment of capability (Byford, 2011). The global picture In the field of business, the world is becoming small and more corporations are working across geographic and artistic borders. While most have become accustomed to the global reality in their operations, several companies are lagging behind in expanding the human resource policies, structures as well as services that support globalization. The HR role is encountering several tests in the process of globalization, together with generating a worldwide attitude inside the HR set, generating practices that will be constantly functional in different locations while as well sustaining diverse home traditions and practices, and depicting constant customs across the whole group. To overcome these challenges, companies need to view HR function not as just an administrative but as strategic business partner. Organizations ought to involve the human resources department in developing and implementing both business and people strategies (Rioux, Bernthal, & Wellins, 2009). Conclusion Successfully running talent is a top precedence for organizations looking for ways to effectively steer the present economic climate and at the same time continuing to meet business objectives. Whereas layoffs proliferate, it is as well vital to keep on investing in your human resources and develop your leaders. Organizations need to maintain positions filled and generate at the maximum levels of performance. The best leaders organize strategies to invest in their human resources so that they can meet both present and future needs and can act rapidly in response to varying market demands. Through these challenges, competent and well informed leaders can be developed when the young managers are given opportunities to lead organizations in times of difficulties. References: Byford, M. 2011. Thought Leadership: Building a talent pipeline to boost economic value. London, Egon Zehnder International. From http://www.egonzehnder.com/global/knowledge/content/articles/overview.php/humanresources/thoughtleadership/articleindex/articleindex/article/id/11900178 (accessed March 12, 2011) Center for Creative Leadership. 2010. Leadership & Talent Development in International Organizations. B-1150 Brussels, Belgium. 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Development Dimensions International. from http://www.ddiworld.com/DDIWorld/media/trend-research/the-globalization-of-hr-practices_es_ddi.pdf?ext=.pdf (accessed March 12, 2011) Vance C. M., Vance C. &, Paik Y. 2006. Managing a global workforce: challenges and opportunities in international human resource management. M.E. Sharpe. From http://books.google.com /books?id=BJbvdUbql0IC&pg=PA99&lpg=PA99&dq (accessed March 28, 2011) Read More