What is Talent Management?

View Latest News Publish Date: 15-Nov-2006

What is Talent Management?

Research from the Chartered Institute of Personnel and Development (CIPD) shows 94% of respondents believe that well-designed talent management development activities can have a positive impact on an organisation's bottom line.

But employers must link their talent management strategy to the needs of the business and define what talent management means to their organisation according to the new report.

Rebecca Clake, Organisation and Resourcing Adviser, says, "Talent management is not just about identifying future leaders or developing senior employees, there are also the key operational and technical roles that need to be considered if organisations are to succeed. The challenge for HR professionals is to define what talent is in their organisation and then look for the best ways to identify, retain, develop and deploy this talent."

What works?

Talent management strategies will vary depending on the goals of the organisation but CIPD research found that developing high-potential individuals (67%) and growing future senior managers (62%) are two of the main objectives for talent management activities.

Victoria Winkler, CIPD Learning, Training and Development Adviser, says

"Research shows managerial and professional vacancies are often difficult to fill externally so it makes sense to look for internal candidates that demonstrate potential to grow. Good talent management systems can help identify and prepare these potential candidates. HR should measure what works by tracking information about where employees come from, their successes as well as any problems, and the techniques used to fast-track these individuals.

"Talent management strategies will alter over time to reflect changing business objectives but must also take into account external issues such as the changing demographics of the workforce."

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