Whether Talent Management is a new trend or whether it is part of the existing HR function.

 What Talent Management means to different organisations and how it is approached.


Challenges

Talent shortage and gaps in some areas

Identifying and recognising talent at all levels

Attracting and retaining staff

Consistency in retaining existing talent

Operational challenges – e.g. managing technological skills in a uncertain and changing world.


Key points

There is a need to define what is required from a Talent Management programme.

Talent Management is about attracting the right people, retaining and succession planning.

There is a skills shortage in the market place, and difficulty in finding key individuals in some areas.

It is vital to identify the business need and project it forward. 

Business priorities.  Looking at the best return in the shortest possible time.

The risk management issue of people leaving.

Concern with regard to the popular press causing a distraction.

 

 

Retention is a big issue for many. 

The wider press and bodies responsible for selling HR as a career should focus more upon the ease with which individuals can change their career and expect more, ensuring that correct career perceptions are conveyed from school level.  It is important to educate the younger generation coming into the business world, giving them the necessary skills and knowledge.

The high profile afforded to Talent Management is providing awareness to other business managers of what has been a less cohesive set of activities in the past and gives an opportunity to appropriately market HR activities.

Is Talent Management  too elitist? This depends upon the perception of talent.  Talent Management should provide the opportunity for all to recognise their ability.
 

There is an issue with growing talent from the bottom end and taking individuals through a formal programme to develop through to management.  Talent Management extends from school to senior management level.

Effective leaders will perform Talent Management, providing the most appropriate environment and opportunity to achieve the highest possible level.

Conclusion

What is Talent Management?
-This is nothing new, re-brand.  There was reluctance to call it Talent Management.  Talent Management is the conclusion of what we are doing.

It would be useful to agree some guidelines as HR professionals as to a definition of Talent Management.

Talent Management is a HR individual performing his/her role for whatever the business needs are at a given time. 

Talent Management should be directed not only at the entry level but across the board.  It is about maximising potential at all levels while striving to avoid possible skill gaps.  Talented leaders will be developing individuals beneath them while recognising the potential of all within the company. 

Everyone’s solutions will be different - the individual principle is the same, but the application is different.