Just how significant are talent management systems?

In my opinion you can divide the results of using talent management systems into three segments:

1) ACQUIRING, RETAINING AND DEVELOPING TALENTS OF THE BEST EMPLOYEES. And we all know very well what it means to have the best professionals in our organizations – (in favourable conditions) they can help the business prosper and evolve thanks to their knowledge and skills, they may create innovative products or show new directions where the company can be a pioneer.

2) INFLUENCING OTHER EMPLOYEES DEVELOPMENT. Properly managed talents can support – directly (in purpouse) or indirectly – other employees development (sharing their knowledge and experience, helping them master their skills, encouraging to undertatake some decisions, which influence their personal and professional development; being a mentor or just a good example, a person who can be followed).

3) FINANCIAL ASPECTS. It is cheaper to retain a good employee than to loose one and hire equally talented and having an equaly benefitial influence on the company’s result (add the cost of the whole time and process of assimilation).

I would add one more area, but it is a lot more difficult to measure: the EMPLOYER BRANDING. Having the reputation of a company, which takes care of its talented employees’ development, makes the attracting of new talents definitely easier (besides, you may easily cut the cost of recruitment when you have a large group of potential candidates, people who sent their resume just hoping there will be a position for them in future).