Driving Business through Talent Management

Positioning talent as a key driver of business effectiveness requires organizations to move away from traditional job-based approaches of organizational design and management, and focus on competencies and capabilities needed to execute business strategies. Companies should analyze competencies based on the tasks and activities that the organization needs to execute, rather than the development of job descriptions. How can an organization develop an effective talent/business strategy which drives business results?

Driving business through talent, requires organizations to recognize that business has changed, and talent should be viewed as a company’s most important asset, focusing on the potential sources of the talent needed to implement business strategies. When analyzing talent, companies should consider multiple types of engagement relationships, as well as whether talent it is best developed internally, or recruited. Consideration should be given as to how the talent should be organized and managed.

Second, driving business through talent requires recognizing that talent availability and management must become a driver of strategy. In other words, leaders need to consider talent as a driver of strategy, not just a consideration once a strategy has been developed. Utilizing talent management as a strategic goal helps to streamline hiring and leadership succession processes within a company, from competency-based recruiting.

Third, driving business through talent management allows organizations to have the right people in the right job. Despite changes in the global economy, attrition remains a major concern. As a result, organizations that fail to retain their top talent are at risk of losing out to their competitors. Given today’s business environment, a number of options can be considered including gig talent, contract employees, and partnerships with other organizations that possess the type of talent and capabilities critical to getting a strategy implemented.

Successful organizations focus on the potential sources of talent needed to implement their business strategies. Click here for more information on managing talent in the workplace.

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