MSG Team's other articles

10478 The Normal Distribution Creates an Abnormal Work Culture

Forced bell curve systems are a statistician’s way of looking at the organization. Much like everything else that statisticians do, the forced bell curve is also a mere hypothesis. However, this hypothesis has been largely romanticized and adopted by many companies. In fact about a decade ago, forced bell curve was the norm and companies […]

11060 Role of Attitude in Employee Relationship

The performance of an individual is largely dependent on the relation he/she shares with his/her colleagues. It is really important that individuals are friendly with their colleagues so that they can discuss several issues with each other and come to a conclusion best suited to all. No individual can perform alone. Tasks are accomplished at […]

10600 Performance Appraisal Biases

Managers commit mistakes while evaluating employees and their performance. Biases and judgment errors of various kinds may spoil the performance appraisal process. Bias here refers to inaccurate distortion of a measurement. These are: First Impression (primacy effect): Raters form an overall impression about the ratee on the basis of some particluar characteristics of the ratee […]

9699 How to Develop a Long Term Perspective

The Temptations of Living in the Present and the Perils of Forgetting the Future The digital revolution has accelerated change and has induced in us a tendency to live for the moment without thinking of the longer term consequences. As we are bombarded by 24/7 breaking news and the media cycle and we are constantly […]

8801 Talent Management – Meaning and Important Concepts

What if you could attract your competitor’s best employee for few extra bucks? Sounds easier than done! Attracting high-worth individuals from the competitors is not everyone’s cup of tea. Targeting them and finally hiring them is the test of your competencies experience, personal traits and brain application. This is where the strategic approach plays an […]

Search with tags

  • No tags available.

Talent management, beyond an iota of confusion, is critical to organizational success. It’s equally important for innovation, customer satisfaction, profitability and new product development of the organization. All go hand in hand. People are at the center of any organization. They are outside it as well as inside the same.

Unfortunately for talent management, not many organizations have realized the importance of it till date. They still consider it as an overhead, much of which may be attributed to the fact that it does not directly reflect in the balance sheet of the company. When we dwell into the reasons we find that somewhere those are the helm of affairs in HR fail to implement talent management in their organizations effectively. In addition many HR personnel either are themselves not convinced with the practice or lack the relevant skills to implement the same.

In such a scenario outsourcing is one way to look at solving the problem. The idea is that those who are best in the business will take care of the same. Talent management consulting organizations have people who are specialists in the department. After all it is very important to have a talent management strategy in place that is consistent, systematic and strategically focused. But there are pros and cons to outsourcing talent management. Let us analyze each of them.

Positive Aspects of Talent Management Consulting

Primarily organizations outsource their talent management because of underlying assumptions like - the management will be effective, efficient and result oriented, HR people will be spared of unnecessary engagement, employees can be focused in their respective domains and the like.

The following are some of the benefits or positive aspects of talent management

  • Talent management consulting firms employ proven talent selection, career planning and development, people orientation and retention tools after strategizing with the top management. This is contrary to the common in-hose organizational practice which is very unsystematic and does not make use of any tools.
  • They are focused unlike in-house talent management team that has other things to take care of.

Negative Aspects of Talent Management Consulting

The negative views are based on the fact that since it’s the employee data and the employees themselves that the talent management consulting deals with, there is a potential risk of the information getting leaked. However the negative aspects of talent management consulting are summarized as follows:

  • Talent management consulting/outsourcing demands access to your critical organizational/people data. There is a potential risk of any consulting firm gaining insights into organizational functioning.
  • Since organizations do not have a great belief upon the effectiveness of the practice they do not want to spend much on the same. There is a big cost attached to the outsourcing thing.

Organizations world over have begun to realize the importance of talent management especially after the economic downturn. Outsourced or otherwise, it is crucial for any organization that wants not only to survive but also excel in their respective sphere. The decision is theirs!

Article Written by

MSG Team

An insightful writer passionate about sharing expertise, trends, and tips, dedicated to inspiring and informing readers through engaging and thoughtful content.

Leave a reply

Your email address will not be published. Required fields are marked *

Related Articles

Current Trends in Talent Management

MSG Team

Achieving Competitive Advantage through Talent Management

MSG Team

Benefits of Talent Management

MSG Team