Given the increasingly challenging global business environment, talent management will remain a top priority for executives for years ahead. The future of talent management will need to evolve from where it is today to become a more systematic business process. However, it is reported that leaders are struggling to systematise and integrate their talent management processes.
Human Capital Institute study found that leaders do see the value of talent but are struggling to integrate the process. There is a need for more direct, tangible accountability to develop talent among leaders and managers, but this accountability needs to work both ways. Companies must provide the training and support managers need to build their management skills and capabilities. Leadership development is clearly a priority, but again, more sustained focus is needed on execution to ensure organizations are ready to tackle tomorrow’s business challenges.
While there are some clear innovations in this area, most organizations need to push past static operational measures to more strategic, predictive analytics. Ultimately, leading companies demonstrate both breadth and depth of their staff management practices with a clear alignment to overall business and talent strategies and an indefatigable commitment to program execution.
Sustaining executive buy-in to the criticality of talent management is especially important in a challenging business climate, when organizations need to have the right people focusing on the right things. Pressure to deliver business results can divert emphasis away from actions that signal an organizational commitment to staff management. In addition, to retain the most valuable talent and build a foundation for tomorrow, now is the time to ensure that talent practices are progressive and effective. Whereas, to sustain leadership commitment, business leaders should provide executives with data that substantiates the value of talent management.
List of questions to ask in developing talent management:
The questions above could also be used to start a dialogue within the organization to determine which talent management initiatives will have the biggest impact. It’s important to focus on issues that, if addressed, will have the greatest business impact.
Talent management is no longer about exhaustive benchmarking studies. It’s about scanning the landscape for approaches, steps, and tools being tried and applied, and finding the ones worth looking at more closely. At this rate, the idea is to spot opportunities to kick-start, supplement, or re-wire current practices by adapting or tailoring aspects or elements of others’ talent management systems. Colleagues in professional organizations, conference presenters, and publication authors are examples of sources for new thinking that goes beyond the customary talent practices. In many organizations, great practices that could help the entire firm win are occurring “under the radar screen”, thus create a realistically aggressive action plan.
In a nutshell, there is a need for discipline, innovation, and sheer persistence to see lasting results within any organization-wide initiative. There might also be a need to highlight effective talent management practices for years to see the most results. Over time, this commitment has translated into a strong base of talent and a pipeline of leaders with a demonstrable impact on business results. Innovative ideas, strong execution, and a foundation of clear metrics can enable many more talent management professionals to create a talent mindset that will prepare organizations to face the challenges ahead.