Successful organizations are those organizations with intentional and effective talent management strategies that are delivered through aligned and well-executed processes. In short, organizational (business) success will depend upon how effectively talent strategies support current and future business strategies.
Expertly designed, implemented and managed, talent management will improve strategic performance and business effectiveness.
Talent Management Defined
Talent management is the ongoing process of examining, developing and effectively utilizing talent to achieve business needs. It includes comparing current talent in a department to the strategic business needs of that department, which will help to develop and implement the corresponding strategies to address any talent gaps or surpluses.
The purpose of talent management varies across organizations. For some it is about the management of a select group of individuals (hi-potentials) and succession planning. While others see it as a way to manage all talent (generally). As a result, each organization will have different requirements for its current and future ‘talent pipeline’, as well as different issues concerning how to best meet these requirements.
These are the building blocks around which the company must build its talent identification strategy or determine how they need to employ their talent planning processes. 5th Quadrant can help you create and deliver a best in class solution. This might include:
- Development of competency models that can be used for recruitment, development and performance management.
- Reviewing of your current talent and benchmarking results against the future needs of the organization.
- Assessing the risk level for losing key talent to your organization
- Identification of the potential within the organization’s existing talent to assume future key roles
At 5th Quadrant, talent management is a holistic process built around four primary services areas:
- Talent Identification (at each stage of the employment life cycle)
- Talent Development
- Talent Assessment and Planning
Please let us know how we can help your business