Current Trends in Talent Management
April 3, 2025
If you ask me for the guidelines for talent management, my response would be the following: Developing employees. Redeploying employees. Retaining the best talent. Yes, the prime focus of talent management is enabling and developing people, since the quality of an organization is determined by the people it employs and has onboard. After hiring and…
Organizations work towards the achievement of their mission and strategic objectives. This requires a thorough understanding of the resources required for achieving the same. Resources here imply financial and non financial both and they are equally important and interdependent. Technically these resources have been divided into two, non contingent and differentiating capabilities. Whereas non contingent…
Talent management can be a discipline as big as the HR function itself or a small bunch of initiatives aimed at people and organization development. Different organizations utilize talent management for their benefits. This is as per the size of the organization and their belief in the practice. It could just include a simple interview…
What could be the biggest source of competitive advantage to an organization in the current era of cut throat competition? If I asked this question a decade or two decade, the answer would have been something like - ‘it’s the technology’, ‘its global presence’, ‘its customer perception’ etc. All of them can be a potential source of competitive advantage to any organization even now. But the common answer today would be ‘the people’.
Yes, it’s the people that can be and that are the single biggest source of competitive advantage to organizations nowadays. Top executives globally are one in their view that the quality of people onboard decides your present and the future. Great mission and vision statements appear futile if the talent pool or skill inventory of an organization is not good and vice versa.
But since when have people become of strategic importance to organizations? They always were! But time demanded no reckoning of this fact. Organizations in the fast were progressing at standard rates and talent was developed at similar pace and consequentially there was no dearth.
But with the advent of globalization that has thrown open global market places, organizations and industries are growing at blistering pace. It is getting difficult to develop people at the same pace. The heat is being felt equally at the top as well as bottom level positions. There is shortage of skilled workers are the lower level and an equal dearth of people in leadership positions.
What’s more, organizations fail to understand how to retain the existent talent, compensation (financial and otherwise), rewards and recognition all have failed organizations in helping them retain people of skill and choice. An even more difficult aspect is to identify the right people for development for leadership positions.
Needless to mention here organizations want talent up and down the hierarchy and when they fail to retain the same, they poach. If I am an organization that believes in having talent onboard and I recognize talent in some organization, I have every right to poach the same, provided I can compensate him/her in terms of growth, learning and opportunity!
Poaching is not unethical on the part of any organization. In fact it showcases a flaw in the organizations retention strategy from where the person is being poached. It basically means that there is fundamentally something wrong in the way the organization compensates its employees. This is one of the biggest challenges to talent management. Consider the following facts:
This is the cost of poaching to both the organizations, the one that is getting people onboard and the one that is losing people.
While poaching is not a new concept, what should be of more concern to HR is why do people leave and how to retain them. It’s none other than the talent management that has to come out with a solution.
Your email address will not be published. Required fields are marked *