Talent Management Topics

When managing the employee workforce, a strategic, well thought out plan is necessary to attract, retain, and develop the skills of employees. Talent management as a topic covers motivation, employee learning and development, HR issues, competency and skill testing, and issues related to recruiting and talent staffing. Among these key issues is that of "succession management", understood in the sense of recruiting and vetting replacements for key personnel.

Despite whatever bias there may be toward conceiving talent management as focusing primarily or exclusively on top-tier personnel, a broader view of it encompasses the management of employee talent at all levels within the organization.

Because of the new complexities spawned by globalization, employee rights and advanced technologies, talent management now encompasses a much wider range of considerations than simpler, localized agrarian and industrial economies had to, e.g., upgrades to employee competencies involving rapidly evolving technologies and cross-cultural communication skill requirements.
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Talent management is a strategy that a company employs to attract, retain, and develop employees into the best staff possible for the goals and objectives of the organization. This strategy will usually shift much of the responsibility for attracting and retaining talented individuals from the HR department out to the managers of each division in the organization. With the economic changes over the last hundred years, viz., from an agrarian and industrial society to a technology and information-based model, the acquisition and retention of talented individuals who create value for the organization has become more important than the sheer size of a workforce.

Some of the challenges faced by HR departments that have driven the development of talent management strategies are low employee-engagement, global workforce management, outsourcing trends, a greater competition for skilled workers, and future considerations such as the impending Baby Boomer retirement exodus and the importance of succession planning. The trend towards the management of talent has shifted HR responsibilities from the traditional roles of policy and process creation, form creation , and compliance to those of strategic enablers of talent management processes that empower management and employees to create and retain the best talent available for creating value in the organization.

The costs related to staffing the workforce are the greatest expenses of any company, so the effective acquiring, developing, aligning, and assessment of employees at every level is becoming more and more important to businesses as they attempt to develop a talent base to add value rather than to make the traditional cutbacks to save capital. On one view of talent management, management of employee talent should encompass every level in the organization and not just be limited exclusively to either HR or executive leadership.
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