| Title | Talent Management: From Hire to Retire |
| ShortDescription | This article addresses what talent management is, the challenges of doing it effectively, and why human resource leaders and senior management need to manage talent while addressing current workforce trends and issues. |
| LongDescription | Talent management requires viewing workforce needs and development as a continuum beginning with recruitment, and ending with succession planning. How organizations choose to invest in talent is determined by whether their leaders view the workforce as a cost or as an asset. Viewing it as a cost is still prevalent, but makes it difficult to identify issues and respond to new workforce needs and challenges. Referencing a study from The Economist Intelligence Unit in 2006 on the CEO Role in Talent Management, Laff notes that executives reported devoting between 20 to 40 percent of their time to talent management because they believe that nurturing talent is the best approach to maintaining a competitive advantage. The study also reported that very few senior managers approach talent management in the same way. Among both executives and workforce researchers, there is not one best approach for talent management. Some organizations see HR as too slow to respond to talent needs and have decentralized talent management and training, viewing HR as providing traditional transactional services. Removing this responsibility from HR minimizes its influence, but this is a concern expressed by senior executives and line managers over the capacity of HR to effectively develop and manage talent in an integrated manner. Talent management requires attention to long-term staff development not only for high achievers targeted for succession planning, but also to best performers at all organizational levels. As organizations move to address workforce issues through an integrated talent management approach, they need to identify and provide staff resources to do it. |
| SourceAuthor | Michael Laff |
| Reference | Training and Development 60,11, 2006 |
| Organization | ASTD |
| ContactAddress | 1640 King Street, Box 1443 Alexandria, VA 22313-2043 |
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http://desktop.ilearning.com/launcher/ft/ft.asp?1&ASTD&276019602B930B00
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