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Your organization depends on a talented pool of people to transform its vision into reality. Do you have the right processes in place to attract, develop, and retain them?
Today's businesses face increased global competition, shifting markets, and unforeseen events. No wonder they are finding it more difficult than ever to attract, develop, and retain the skilled workers they need.
Human resources (HR) departments can set the stage for success by hiring and training capable employees. But developing those personnel into dynamic, motivated, long-term participants in the company's processes must be the responsibility of all management-from CEO to floor supervisor.
Talent management, which incorporates the cooperation and communication of managers at all levels, has become an imperative in the face of today's business challenges. In addition, talent-management processes must be more strategic, connected, and broad-based than ever before.
Talent-management processes include workforce planning, talent gap analysis, recruiting, staffing, education and development, retention, talent reviews, succession planning, and evaluation. To drive performance, deal with an increasingly rapid pace of change, and create sustainable success, a company must integrate and align these processes with its business strategies. By assessing available talent and placing the right people in their best roles, organizations can survive and thrive in today's increasingly competitive markets.
Effective talent management becomes even more important with the forthcoming talent shortage as many experienced leaders approach retirement. Globally, fewer and fewer managers and professionals are ready to fill these leadership roles, and companies worldwide find themselves competing for a smaller pool of talent. Businesses must have the ability to identify the most talented individuals, provide them with the necessary training and experiences, and retain valuable employees long term.
Wise leaders do not leave strategy or the bottom line to mere chance. They also know they can't just hope everything somehow works out with the people in their company. By incorporating comprehensive talent management, an organization can assemble the right people it needs to manage and lead in the future.
With HR focusing on hiring, training, and succession planning, talent management is traditionally an HR responsibility. Today's top companies, however, know that a single department's potential effectiveness is limited; the key to a successful program lies with the cooperation of all departments, with all managers across...