Talent management Articles
Talent Management Imperatives
Talent management is strategically managing the flow of talent through your organisation and encouraging employees to continue to generate fresh perspectives, innovative ideas and constructive input. It’s about attracting and retaining key people, and allowing that talent to thrive – all of this combines to achieve and maintain a competitive advantage. Equally important is the need to introduce strategies which prevent loss of your key talent to competitors. The most effective people strategy is for companies to source the right people with the right skills and knowledge, in the right roles – overall this is Talent Management in its most pure, basic form. Real talent management though is about the few, not the many, meaning that companies focus on developing the potential of a few key people as future leaders and role models.
Leadership Development – Invest and Avoid the Skills Shortage
The good news for the economy is that unemployment is unlikely to reach the projected rate of 8.5%; the question remains however, that as recovery looms will Australia have the skills capacity in the workforce to take advantage of the upturn?
Recent research from the National Institute of Labour Studies indicates that unlike previous recessions, the skills shortage of 18 months ago has influenced companies to hold onto staff, rather than hiring and training young workers to boast the skills pool.
Talent Management – Avoid the Threat of Mass Voluntary Turnover
With talk of ‘green shoots of recovery’ emerging and the doom of the ‘economic down turn’ beginning to disperse, companies need to beware. Mass voluntary turnover of your talented employees may be on the horizon!
As companies begin the recovery talk and consider their readiness for a market up turn, employees may well be coming out of their bunkers and reviewing their employment opportunities. Many employees have suffered pay cuts, bonus-less periods, colleague layoffs, management changes and organisational restructuring and instability over the last 18 months. They have put aside their ‘employment wants’ i.e. skill development, career progression, reward and recognition etc just to remain employed. However, now that there is light at the end of the tunnel, a process of reassessment will begin.