The world of Talent Management is changing very quickly with the advent of new technology.
A clear requirement has emerged to manage high potential employees more effectively as economies emerge from the Global Financial Crisis and talent turnover accelerates once more.
This document outlines the major trends in Talent Management that are taking place globally and what is not being addressed with the old Talent Management processes.
Talent Management Redefined: now a valuable tool that is used to drive Talent Readiness
In the last 30 years, the meaning of the phrase Talent Management has evolved and is still changing rapidly.
Today, Talent Management is one of the principle tools used by HR or Organizational Development professionals to ensure that the organisation has the right talent to take on the emerging requirements of the organisation. Gone are the days where Talent Management consisted only of Succession Planning for the top 2% of the organization, or only for critical roles. Talent Management is now used for the majority of roles as organizations need to be able to move quickly to ensure continuity of service/s due to high employee mobility,
For example, in a hospital with 5,000 employees, old processes meant that you were conducting Succession Planning for perhaps 100 specialists or senior managers. With the advent of new Talent Management processes, you are now able to prepare Talent to take over the entire 5,000 roles in the organization. In summary, the advent of broad based Talent Systems and their adoption rate is in itself a major trend.
Talent Pooling is a major trend and has been made feasible with the advent of software to deliver this functionality.
The Talent Pool approach works better in this context as Talent Pools are typically prepared for Critical Roles first (not only the top 20 roles). The clear trend here is that Talent Pools are prepared for roles where the organisation has exposure for critical capabilities, rather than just for roles based on seniority.
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