What Is Talent Management?
Broadly defined, talent management is the
implementation of strategies and systems designed to increase workplace productivity and
meet business needs. This requires developing
processes and tactics for attracting, selecting,
developing, managing and retaining people
with desired skills and aptitude.
Many CEOs and even human resources
leaders stray away from human capital strategy
models because they are often complex, lofty,
and difficult to execute. However, embracing
at least the premise of these models—often
developed through years of empirical research
and validation—can provide tremendous insight into workforce design and management.
With a talent management framework, the
strategic direction and analysis of the workforce—knowledge, skills, abilities and behaviors needed to achieve strategic goals—drive
tactics and create a clear and measurable
connection to strategic progress and business
Following are the five components of talent
• Attracting. An organization’s ability to at-
tract and hire key talent to meet the needs
of the organization now and in the future.
Tactics focus on securing people with
knowledge, skills and abilities needed to
produce organizational results. Define why
the “best and brightest” would want to work
for your organization over other employ-
ers you compete with for talent. Examples
include: employment branding, employer-
of-choice outcomes, behavioral interviewing
and targeted assessment centers.
• Engaging. The extent to which employees
identify with the organization, commit to
it, and provide voluntary and discretionary
effort to make it successful. Address how
your culture should change to create an
environment where people are rewarded
and recognized for their commitment to the
organization’s success. Examples include
organization climate assessments, employee opinion surveys, strategically focused
performance management and rewards systems and metrics/dashboard approaches.
• Developing. Building organizational capabilities through the formal and informal
learning required and desired to successfully carry out the duties and responsibilities of the job. Determine planned and
Read The Fifth Discipline by Peter Senge
to learn the idea of
“systems thinking” as
a means of aligning
people with business
results and relevance.