How important is talent management?

The BNET Business Dictionary definition for Talent Management is: “The recruitment, selection, identification, retention, management, and development of personnel considered to have the potential for high performance. It also assesses how much of a contribution the individual can make to the success of the organization.”

Coming from a theatrical background, I tend to consider Talent Management analogous to casting --although for a longer term role. It is an absolutely essential element of modern business to recruit, retain, and promote the right people to the right job/role. My major disagreement with the BNET definition is that it focuses solely on, "How much of a contribution the individual can make to the success of the organization" -- without ever considering the need to facilitate the success of the individual. One does not happen without the other!

Whether the individual wants to reposition themselves in the workplace, set their sights on a new career path, or simply needs assistance learning new technology, their innate talents, knowledge and potential contributions should be considered. Successful business models build on this wealth of career resiliency, learning flexibility and the adaptability to succeed.

At Ralph Stalter Consulting, we find that the commitment & interaction across "talent groups" is extremely positive & productive -- whether we're: "reinventing" someone by turning prior experience into current capabilities; helping someone with limited technology experience to use social media to enhance their skills; or, assisting workers to balance their experience with relevancy when rewriting their resumes and cover letters.

Partnering with "the talent" in a positive and constructive way also helps to alleviate a great deal of their stress (which can have a negative impact on the business). In addition, it is immensely rewarding to work with people that are willing to learn and improve themselves. The feelings of accomplishment for both the learners and the facilitators are most gratifying (which can have a positive impact on the business)!

"Talent management" should nurture and reinforce the underlying belief in human potential and the importance of creating work settings that allow both people and organizations to flourish. That is why we love doing what we do at Ralph Stalter Consulting! We value life-long learning and want to share our passion – and to help others learn something invaluable about themselves in the process.

Talent Management is the key to running a successful business in our rapidly changing world.

Two quotes have always stuck in my mind when I ask myself the same question:
“ In times of economic uncertainty, there is nothing more important or
strategic that we can be doing to ensure continued business success
than talent management. Now more than ever we need to be focusing
on high performers and developing talent.”
Tess Reinhard, director of organizational capability, CDW

and to paraphrase an anonymous CEO:
"Talent Management is not a passing fad or the "Management strategy of
the day". It's what you DO. If you’re a leader and you’re not actually
managing and leading performance of your human and financial
resources to serve your customers and stakeholders, what the #%@#
are you actually doing, and… why?”