Talent Management
The issues raised in the report 'War for Talent' (McKinsey & Co, 1997) remain an ongoing challenge for organisations, arising from increased employer expectations; employee demands for work-life balance; changing demographics of the labour market and enduring skills shortages.
Talent management can seem like a complex undertaking when formally defined within strategic human resourcing. Put simply though, it requires an organisation to understand how they define talent, and then to ensure that a pro-active and cohesive programme is in place to attract, develop, deploy and retain their talented individuals.
To achieve this holistic approach, organisations can often come up against many potential pitfalls, most recognised of which, is the danger of creating an elitist pool of 'high flyers' destined for guaranteed promotion and swift career prospects. A poorly-managed programme not only risks demotivating those who feel excluded, but also overlooking potential talent; possibly leading to discrimination and equal opportunity issues.
A generic solution to talent management does not exist, organisations increasingly need to identify a talent strategy that is unique to them - supported by interlinked processes (Succession Planning) that acknowledge current needs and predict future needs. Good Talent Management focuses on identifying each element of these processes and ensuring they are designed, implemented and evaluated for success.
In general, discerning Talent Management will:
- Be fully integrated with the organisation's strategy to deliver and nurture the right mix of skills and experience for superior business performance
- Be 'fit for purpose' in relation to current and future human resource requirements
- Ensure each element of the Talent Management 'pipeline' is addressed:
Attracting and Recruiting Rewarding Auditing and Developing Engaging and Retaining Deploying Tracking Job designing Succession Planning Performance Managing Exiting - Provide tangible benefits to the organisation, and the individuals within it
- Recognise that most people have some talent and want to contribute to, and feel valued by, their organisation
- Not concentrate purely on scarce skills or key roles
- Continually evolve to meet changing demands and future needs
Benson Payne will work with you to develop the most effective Talent Management approach that demonstrates these characteristics and which:
- Will help your organisation to become an employer of choice
- Ensures a seamless integration between your organisation's strategy and people management processes, supporting continual improvement
- Recognises, rewards and values contributions made by staff
To gain more information about the benefits TALENT MANAGEMENT can bring to your organisation, contact us
Human Resource Management & Strategy
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