What Actually Is Talent Management?

Education Current Events

Talent management can be roughly divided into the three areas of “identifying talent”, “promoting talent” and “retaining talent”. It focuses on filling the so-called “success-critical” positions in a company and is, therefore, a strategic approach to ensure the long-term competitiveness of a company. It can counteract the effects of demographic change and thus to some extent also the issue of a shortage of specialists and executives in the company and maintain and promote the innovativeness and contemporary orientation of a company.

Issues such as aging, a lack of managers and skilled workers, the migration of Generation Y, and the knowledge society have long since arrived at companies and are increasingly influencing the “day-to-day business” of HR managers. Apprenticeship positions can often only be filled insufficiently or – just as fatally – with considerable effort. The competition for the best university and college graduates has also increased enormously, not least due to the new social media channels.

In A Conversation Recently, A HR Manager At A Large Energy Company Said To Me:

“Do you know, Mr. Kübeck, that winning over the best for your own company also means withholding them from competitors and competitors…”

True words, also or precisely because the focus of many HR managers is increasingly directed towards other target groups such as foreign specialists and managers or, for example, university dropouts.

Just 20 years ago, the topic of “personnel” was usually in third place behind the topics of technology and organization. The significance has often reversed itself today because of the above-mentioned topics in companies.

What Makes A Talent So Valuable For A Company?

The word talent cannot be defined uniformly. talented people achieve outstanding performance due to their talents in the respective areas of application and under favorable “environmental” conditions. In addition, continuous development is essential now and in the future to make talent valuable for a company. Character traits such as curiosity, self-confidence, aspirations (of oneself and of the respective company), and individuality should be supported and encouraged.

Another very important topic in this area is the loyalty of talent to the respective company. Both the value awareness in today’s society and the increased competition for the best of the best leads.  Work-life balance and the compatibility of family and career are attractiveness factors and incentives that are used to select potential employers.

In order to find, attract and retain talent, there should be a uniform corporate and HR strategy. A respective definition of the word talent in the company is also essential in order to identify the target groups and ultimately to find the best ones.