Talent Management is an entity that has been slowly evolving within many corporations. Most corporations list the following practices as part of their overall program:
- High potential employee development
- Leadership Development
- Professional Development
- Succession Planning
- Career Planning
- Learning and Training
- Performance Management
- Competency Management
- Retention
- Employee Engagement
Talent Management should concern itself with competencies. Companies should focus on the competencies that make a difference today and will continue to make a difference tomorrow. It means fitting the “right person” to the “right job” and then measuring their impact on the company’s strategy or goals.
In simplest of terms, Talent Management is people development associated with organizational effectiveness. Most companies do not have a clue about what Talent Management means to them and what competencies will provide sustained growth and success. It is important that they focus on their Strategic Development plan now and don’t wait until it is too late. It will be too late when they do not have the people who are able to learn and perform the roles and responsibilities needed for sustained growth. Do we have the people that can respond to the rapidly changing, highly competitive marketplace?
A fast track of combined learning and training programs were laid out before me while at the same time, my performance was monitored as if I was under the microscope. It appears that many companies have strayed away from labeling “high potentials” and providing a program to accelerate their careers within the company. Now, I know some companies have accelerated programs and call these designated potential leaders something, like top producers, achievers, or whatever.
It just seems like the same old story. We have been concerned about this problem for many, many years but we have done nothing to provide a fully integrated set of human resource functions that can be called a people development process. We hesitate to assess anyone or anything because it will cause conflict and we can’t have conflict when we need to retain good talent.
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