Concepts in Talent Management
Most organizations recognize the importance of key talent in driving business success, particularly in this increasingly knowledge and service-based economy. Key people, because of their passion, their level of engagement and the excellence of their work, have become a fundamental source of value and competitive advantage for an organization – often even more so than its systems or products. And because individuals are unique, key talents also serve to differentiate an organization from its competitors.
While there may be plenty of people looking for work today, there is still significant competition in the market for the best people and the critical importance of key talents to business success, organizations must identify and develop the people with the potential to become key players in their business.
The right talent management processes, properly implemented, will enable the organization to do the following:
- Identify future leadership talent
- Target development to key talent
- Reduce reliance on external hires and increase ROI
Naturally there are significant challenges as well.
- How do you actually define the talent you need for your future success?
- How to measure that intangible ingredient that defines if the potential will lead to success?
- How do you implement and execute on the plan given the natural resistance to change?
- How do you keep your best people when you have worked so hard to develop them and train them?
It is never easy but the path can be clear. Ask your TalentValue adviser to show you what has to be done to develop your people into the sustainable competitive advantage that takes your business and organization to the next level of success. Find out what a strong Talent Management process can do for your organization.