Talent management represents a decisive competitive advantage for the company.
However, the subject remains under-exploited within many organisations and HR departments. Yet talent management, i.e. the art of identifying, developing and retaining talent within a company, is a key factor in the success and sustainability of the company.
The year 2020, punctuated by the anti-Covid measures, has reinforced the need for effective talent management by its cyclical specificity. Yes, but how, what, who, and when?
Let us first define the notions of "talent" and "talent management".
An employee identified as a "talent" or "high potential" has one or more of the following qualities:
- an expertise in a specific field ;
- an experience to be developed;
- a form of intelligence crucial to the company (intellectual - sometimes referred to as "high intellectual potential", emotional, etc.);
- one or more valuable soft skills (leadership or creativity, for example).
These qualities, accompanied by a real capacity for progress, constitute an employee's talent for a company; that is to say the meeting of a specific skill and a potential for development, which supports the company's objectives and consolidates its performance.
Talent management is therefore the implementation of a defined, practical and measurable system, capable of identifying the talents of internal employees and positioning them in the positions most suitable for their development and for their use in the company.
Moreover, the study "The Global Leadership and talent Index" (BCG, 2015) shows that:
- Effective talent management is directly correlated to a company's financial performance. Companies identified as leaders in talent management demonstrate 2.2 times the revenue and 1.5 times the profit of others;
- The return on investment in talent management translates almost immediately into concrete results on the company's performance, but also on well-being at work; a well-employed talent is more often than not a fulfilled talent.
Talent management is therefore one of the strategic axes at the service of the company's performance.
- How to implement a talent management strategy?
- How can I identify/spot talent internally? How can I develop the attractiveness of my organisation to attract talent externally?
- How to develop and retain talent within my organisation?