What Is Talent Management?

Talent management is a “new” training model. The process emerged when organizations shifted from using labels like “applicant,” “employee” or “laborer” for talent. The transformation happened when the demand for employees began to span continents and the job market was molded by technology, information and competition.

The shift required individuals who were more than the embodiment of their work experiences, skill sets and education. Organizations needed recruits who, through their grit and the applied use of their gifts, could be immediate assets to the company—giving them an instant competitive edge.

The transformation from “employee” to “talent” means:

  • Human resources teams must reimagine recruitment criteria
  • Learning and development teams must reconsider how employees learn
  • Hiring managers must rethink subjective selection criteria

Key Drivers for Talent Management

Talent consists of individuals who make a difference to your business through their short- and long-term performance by demonstrating high-potential levels. Typical talent management drivers include:

  • Retention: Organizations equate talent management with retaining high-value or high-potential employees
  • Nurturing talent: Many companies focus on developing existing talent
  • Business growth: Scaling up a company involves developing emerging leaders and acquiring new hires who push business goals forward
  • Professional development for talent acquisition: For some businesses, a key focus of talent management is offering professional development as an incentive to recruits
  • Skills gap: With technology’s immense growth and expansion, companies are homing in on addressing skills gaps

What Are the Benefits of Talent Management?

An organization’s success depends on the adequate performance of individuals within the company. People establish and maintain work culture, implement organizational goals and drive core values and missions. Successful talent management has various benefits:

  • Establishes positive engagements
  • Motivates employees to be happy, engaged and inspired to succeed
  • Encourages talent satisfaction and retention
  • Nurtures talent and teamwork
  • Identifies and develops emerging leaders
  • Assists in achieving business goals
  • Builds the business’s reputation

Develop Successful Talent Leaders in Your Organization

The Center for Leadership Studies will help your team implement successful talent management processes in your organization. Our training programs equip your leaders to take an integrated approach, focusing on the employee life cycle, talent acquisition, engagement, retention, succession planning and ongoing learning development.

We have 50-plus years of experience training over 15 million managers. Our training and organizational talent development spans 35 countries worldwide, and for over eight years, we’ve been included in the Training Industry’s Top 20 Leadership Training Companies List.

We’ll help you discover the right talent management blueprint for your organization. Get a competitive edge by contacting us about our Situational Leadership® training.