Facing Talent Management: The Challenges Of Talent Management
Future talent management must essentially solve three key challenges going forward. These are adjusting to the changing work environment, understand the differences of the future employee, and shifting the process from pure talent management to people management.
The workplace is rapidly changing
The workplace is undergoing a huge change, driven by the increase in technology. Organisations aren’t reliant on permanent staff to the same extent, as work can be contracted by an individual operating on the other side of the planet.
Therefore, the new norm might be for organisations to have a small in-house staff, completed with virtual networks of freelancers and other contractors. According to data, the …show more content…
The above points, enhanced by the internationalisation of the workforce, are creating a more diverse work culture. This in turn means that a generic approach is unlikely to work as different people have different needs and requirements.
Therefore, organisations must ensure the focus is on improving work culture through better engagement and empowerment. Leadership qualities must be emphasised to ensure organisations are able to hire from within and that individuals find more career climbing opportunities within an organisation.
Josh Bersin, consultant on HR and talent management, has suggested companies should start thinking about employees as consumers or customers. According to Bersin, organisations should understand that most talented individuals have more opportunities now to go elsewhere if the work environment isn’t satisfactory enough. The noticeable thing is that most workers don’t seem too happy in their jobs. Bersin points out, for example, to a series of Deloitte studies, according to which, only 13% of the world’s workers are passionate about their work.
5 future trends of talent …show more content…
5: More focus on succession planning
Overall, the future talent management scene is likely going to emphasise succession planning. The ILM survey saw almost 50% of employers saying a lack of internal staff capability hinder an effective supply of leaders and managers. Organisations’ managerial vacancies are split between internal hires and external hires.
More alarmingly, in the ILM survey, over 40% of UK organisations surveyed said they didn’t have a talent plan in place. Yet, executive turnover is increasing, as organisations are looking for quicker returns. For organisations to succeed in keeping employees happy, talent management is going to have to focus more on succession planning.
The problems of bad hires are well documented. The cost is not only financial, but also effects the morale, turnover and organisation reputation. By ensuring better internal hiring rates, the organisation can avoid some of these drawbacks.