Which is the possible thing that wakes you up in the middle of the night about your organization.
Many leaders believe Talent Management is the once a year succession management process.
They believe that putting a name in the box, selecting someone who knows a lot about a particular domain as their successor they typically completed all the tasks of the Talent Management process.
But this is wrong!
Talent management is more than a name in a box!
Talent Management represents the business process that closes the gap between the talent an organization has right now and the talent it needs to successfully responds to current and emerging business challenges.
The things that wake me up in the middle of the nights is not what might happen to the economy or what our competitors might do next. I am worrying about whether we have the leadership capacity and talent to implement the new and more complex global strategies.-David Whitman
Let me ask you something!
- What about your budget process?
- How do you manage your organization’s budget process?
- Do you place numbers in the excel sheet, do you use some formulas and that is it?
I do not think so, or at least I hope not!
I know that “budgeting” is considered as the most critical process in the organization. Budgeting considers the basis for business success. And it is undoubtedly! It helps management evaluate business, set financial targets and it enables the organization to work efficiently, re-evaluating expenses and revenue estimates and modifying objectives.
Talent Management is as important as your budget process.
The world is changing, organizations are changing, therefore, the Talent Management process today is a must.
It cannot be an annual exercise and cannot be a name in the box. Effective talent management requires not only developing people for their current roles but getting them ready for their next transition as well.
Talent Management involves specific steps like identifying the right job openings for your organization, specific training for your hired people, exploring and building up people’s unique strengths.
Talent Management places the right people in the right jobs and it helps you understand better your people (motivations, abilities, aspirations, etc.). It prepares and makes them ready for their next transition. It makes them more engaged thus more productive.
One of the greatest talents of all is the talent to recognize and to develop talent in others.-Colin Powel
If your Talent Management process remain an annual task for your leaders then as organization, you might accomplish some of the short terms goals, but you won’t be ready for the long-term business goals and objectives.
When thinking about your organization’s future, it is a good idea to not only think about goals, objectives, initiatives and revenue growth but how to achieve them as well.
And to achieve them the key to open the door to success is your people.
Nothing we do is more important than hiring and developing people. At the end of the day, you bet on people, not on strategies.– Lawrence Bossidy