Forwarded by | Nanjegowda
The Epic Shift: Away from “Talent” and now focus on “People.” Talent scarcity is still a problem, but engagement, empowerment, and environment are now the real issues companies face.
For the last ten years businesses and human resources departments have been heavily focused on building talent management strategies. Originally conceived as programs to help manage people from “pre-hire to retire,” these strategies have spawned a $10+ billion software industry, helped refocus HR departments, and have educated CEOs and business leaders about the importance of talent.
And the scarcity of talent gets worse. Just this month a New Yorker article details the emergence of “talent agencies” for software engineers, replicating the marketplace for talent agencies in Hollywood. The company discussed in the article, 10X Management, brings together top engineers and product designers and serves as a complete agency to help you find top software teams. As the world of work becomes more contingent and the disparity between highly skilled and others grows (read “The Myth of the Bell Curve” for more on this topic.), the need to attract top people will get harder.
Our latest research shows that your ability to attract talent (the right people, not just anyone) is now one of the biggest differentiating factors in business. We see a fast-growing new marketplace for tools and vendors which help you assess your culture and find people who “fit” – fit with your strategy, your culture, your team, as well as the job. New talent analytics tools and strategies now help you figure out who fits, find people who fit, and make sure you know how to keep people who fit.
With all these changes, and an accelerating need for new young leaders, is “talent management” as we define it working? As I go around and talk with business and HR leaders, I am left with a big question:
Do today’s “talent management” programs, as defined, work? Have all the companies who purchased and implemented talent management software truly transformed themselves? Have we really built the “talentcentric” organizations we talked about over the last decade?
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