- High potential employee development
- Leadership Development
- Professional Development
- Succession Planning
- Career Planning
- Learning and Training
- Performance Management
- Competency Management
- 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. Your middle management controls what employees stay and what employees leave. Your good employees will leave if you don't have a competent manager.
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. Too late that 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?
Most companies have not yet assessed the talent within their organization. How can the learning and training components be applied when you don’t know what is needed to develop the people? People are starting to talk about succession planning only because a lot of key people are leaving the workforce for retirement or alternative careers. I joined a pharmaceutical company in the late sixties and within three weeks, the company has decided that I was a “High Potential”….an HP as we called it back then. 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 many 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.
Is Talent Management really meeting the needs of most companies? What are we waiting for? The leadership of our companies must step up and focus on a Strategic Development Plan that includes people, processes, and performance. The integration of those three entities often results in employee engagement, motivation, and success.
Human Resources in many companies is defined as the human capital experts. So, when are these so-called experts going to jump up and down and give their leadership team a real assessment of the culture, the people, and the potential to more forward while sustaining growth and reaching goals? It will probably be when all the talent has left.