Developing people's full potential.
Who are the high and low performers in your company?
Do you recruit and hire very talented people?
Is your company committed to keeping top performers, and removing low performers?
And does your organization develop its people effectively?
The answers to these questions determine how – and if – an organization manages talent. We hear all the time about the importance of recruiting talented people, and how talented people create value for many different types of business. However, while most companies know that they need to attract and retain these talented people, they often struggle to do it.
Talent management is a comprehensive strategy that brings together different human resource initiatives – recruitment, retention, learning management, leadership development, and succession planning. When done properly, you'll select the right people for the right jobs, and you'll develop your people so that they can perform at their best.
Talent management is, essentially, an issue of corporate culture. It is not simply a matter of aligning various HR systems: it's about recognizing that your organization needs talented, well-trained, highly-motivated people if it's to perform at its best and realize its full potential.
HR can create a talent management system – however, for that system to be effective, it must be supported and developed by managers and leaders from all parts of the organization.
At times when talented workers are hard to find, it's critically important to attract and retain high-quality staff. When competitors are actively trying to recruit your top people away from you, and experienced workers retire, you need to be confident that managers throughout your organization are committed to keeping the talented people they already have. Where managers fail to do this, this needs to be viewed as the squandering of precious company resources.
Consider the following points to develop the talent of people in your organization:
"When I started using Mind Tools, I was not in a supervisory position. Now I am. Along with that came a 12% increase in salary." – Pat Degan, Houston, USA
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