Talent Management – an Overview

The world of business has changed massively with the onset of COVID-19. Whole workforces moved en masse to work from home, and businesses around the world had to change many – if not all – their processes to cope with the demands of the pandemic.

How did things change for employees vs their employers?

Their work styles and locations may have changed, but employees across the world still need to feel connected with their organizations and engaged in their work. HR professionals must give them immediate feedback and recognize that they add value, along with facilitating collaboration with remote colleagues.

Employers continue to seek great talent, with their talent management programs focusing on hiring, engaging the workforce, and staying flexible in the face of changing market conditions. They need to provide suitable opportunities for learning and development so that employees can gain new skills.

How can Talent Management respond?

What is imperative is to bring in flexible talent management programs to deal with the dynamics of the business situation. It is important to manage the talent lifecycle properly as well as to gather insights that boost the power of the workforce.

Talent management approaches the tasks of attracting, developing, and retaining the workforce in a strategic manner. It understands that the job does not end by just hiring people to fill in open positions. The aim is to seek a competitive advantage through a workforce with in-demand skills supported by top-notch learning and development programs and performing optimally.

Is Talent Management different from talent acquisition?

Talent acquisition, as the name suggests, refers to anything and everything done by HR professionals to bring people on board. It, therefore, includes recruitment, interviewing, hiring, and onboarding.

As against this, talent management aims at helping people work to the best of their capabilities. It sets them on strong career paths by properly matching open jobs with the right people who have the skills required to suitably perform the requisite tasks. It also looks to institute learning systems that are continuous and properly targeted.

The latter approach helps to meet evolving demands of business in line with changes in the nature of work itself. The focus is not as much on managing as it is on enabling excellent performance from employees.

What makes Talent Management important?

The most important resource of any company is its people, and talent management places people front and center of its activities. To exhibit strong innovation, highly satisfied customers, and great work culture, it is important to bring in and retain the right talent. Besides, talent managed well gives a business a strong competitive edge in the marketplace.

How is Talent Management changing?

The biggest forces affecting workers are digitalization and shifts in the workforce. Many jobs are now being done remotely, with a consequent focus less on the location of talented people than on how well they fit the requisite job openings.

With a change in the nature of work itself and multiple generations of workers in one workforce, how work gets done is now very different. Consequently, something like performance management can no longer work in the old style. HR professionals now need to look at what must be done to increase employee contribution in the future as against reviewing what they did in the past. Plus, with remote work removing the barrier of location, there were more opportunities both for employees as well as employers.

How useful is certification in preparing for this change?

The right talent management certification can be incredibly useful in setting up modern talent management programs meeting the requirements of the business. Certification helps in gaining the newest skills and knowledge, setting up HR professionals for the best roles in talent management, and preparing them to take on higher responsibilities.