What is Talent Management?
Talent management is a complex set of integrated processes that provide a benefit “obvious” and critical to any organization: developing the potential of its employees.
Do the employees of your company are at the peak of its development, or at least in progress? In fact, they know their potential? Every team wants to have the best people to perform at a higher level role. Organizations and leaders know that the level of business performance is driven by talent.
The Talent Management is justified because the essential factor of any organization is the talent. The quality of its employees is its true competitive advantage. Where people are the difference and Talent Management is the strategy. In 1997, a McKinsey study coined the term: the war for talent.
Now, in the new millennium, we find ourselves in the Age of Talent. During the agricultural season, the economy was based on the land, in truly physical and tangible goods. The industrial age followed with a production-oriented economy. Business performance was achieved through the more efficient use of the factories and distribution networks.
The Knowledge Era has changed the basis of the economic value of information assets through integrated communication and information technology. Now, the competitive battle is the search for the best people because they are the creators of the true value.
In this new model, HR becomes the strategic enabler of talent management processes that enable managers and employees, creating business value.
With this vision, talent management can be defined as the implementation of integrated strategies or systems designed to improve recruitment processes, develop and retain people with the necessary skills and the ability to meet current and future needs of the organization.
Interestingly it is defined as Performance Management, variable remuneration, or Talent Acquisition. It is also often mistaken for leadership development. Although leadership development is crucial because of its organization, focusing it exclusively is a legacy of the past century. The Age of Talent requires a broad and holistic view. A high performance business depends on a wide range of skills.
Why Talent Management?
The cost of labor is the largest expense category for most organizations. Automation and analysis of recruitment and hiring workers provide for the immediate visibility and insight you need to significantly improve their bottom line.
The future of this new management model is linked to solutions designed from the “ground” to provide business functionality centered on a unified platform of Talent Management. Decisions are taken vertically, without first consulting the “shop floor / enterprise” are doomed to failure because it is evident that not correspond to reality. Of note the interaction of the various sectors of your company.
Like almost all the competitive factors of business have become commodities, talent is what ultimately drives business success and create value. Organizations rely on solutions and services to assess, acquire, develop and align talent with business goals, significantly reducing process costs, improving quality of hire, reducing risk and achieve higher levels of performance.
Today, we run the risk of transforming Talent Management exclusively in talent measurement strategies. Remember that we are talking about human beings. The vision, in turn, is based on the abilities and skills of its employees.
Meet them, talk, share, approach. Develop an empathetic process. Human being only develops when is seen as a human being and not as just another process gear.
The Talent Management is able to manage talent when developing the company a Relationship Management! This in turn is built on the organization’s daily life.