Talent Management
Talent Management
Introduction:
Talent consists of those individuals who can make a difference to organizational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.
Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles.
Talent management is highly strategic. It aims at maintaining the company 's innovation and performances relying on the long term capacity of its human resources. An effective talent management is one of the highest valuable assets an organization can have. If talent management is performed professionally it can become an organizations backbone for economic success.
Why is talent management fundamental?
Know-how, innovation and experience constitute the main advantages that organizations can have over their competitors. The most talented employees drive these advantages.
Therefore talent management should focus on the organization 's talent: the most skilled and experienced individuals. Attracting, developing and retaining talent is fundamental to a company remaining ahead of its competition.
Many studies are forecasting a shortage of talents for the near future. One of the main reasons is the demographical trend happening in the developed countries. The World Economic Forum has researched this in depth: "To sustain economic growth, by 2030 the United States will need to add more than 25 million workers and Europe will need to add more than 24 million employees...almost all industries and countries will require sizeable increases in the percentages of highly educated people in their workforces".
As a consequence talent management is becoming a growing concern for HR professionals.
A holistic approach to talent management
Introduction:
Talent consists of those individuals who can make a difference to organizational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.
Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles.
Talent management is highly strategic. It aims at maintaining the company 's innovation and performances relying on the long term capacity of its human resources. An effective talent management is one of the highest valuable assets an organization can have. If talent management is performed professionally it can become an organizations backbone for economic success.
Why is talent management fundamental?
Know-how, innovation and experience constitute the main advantages that organizations can have over their competitors. The most talented employees drive these advantages.
Therefore talent management should focus on the organization 's talent: the most skilled and experienced individuals. Attracting, developing and retaining talent is fundamental to a company remaining ahead of its competition.
Many studies are forecasting a shortage of talents for the near future. One of the main reasons is the demographical trend happening in the developed countries. The World Economic Forum has researched this in depth: "To sustain economic growth, by 2030 the United States will need to add more than 25 million workers and Europe will need to add more than 24 million employees...almost all industries and countries will require sizeable increases in the percentages of highly educated people in their workforces".
As a consequence talent management is becoming a growing concern for HR professionals.
A holistic approach to talent management
References: 1- http://www.cipd.co.uk/hr-resources/factsheets/talent-management-overview.aspx 2- Some of the studies on Talent Gap are: "Global Talent Risk" World Economic Forum survey 2011, "Creating People Value 2011" The Boston Consulting Group, "Employing the next generation" Future Work Forum. 3- Global Talent Risk -Seven Responses, by the WEF in collaboration with the Boston Consulting Group 4- http://www.serendi.com/en/talent-management-definition/how-important-is-talent-management.html 5- http://www.employerbrandingtoday.com/blog/2011/04/11/talent-management-from-an-employer-branding-perspective/ 6- http://universumglobal.com/2013/09/trends-that-impact-talent-attraction-and-employer-branding/