Redefining "Talent" in Your Organization
How an organization defines "talent" is the foundation of its talent management strategy. The term can no longer be confined to a single meaning. Acknowledging the various dimensions of talent allows leaders to shape more effective and targeted programs.
Consider the multiple ways to define talent:
- Performance: All good performers or only the top, best-in-class performers?
- Potential: Individuals with the capacity for promotion?
- Performance and Potential: Those who exhibit both high performance and high potential?
- Strengths: Individuals with specific strategic strengths the organization needs?
- Contextual Strengths: People whose strengths align with a global or local cultural context?
- Values & Ethics: Employees who embody the organization's core values and ethical standards?
- Strategic Knowledge: Individuals with deep knowledge of strategically important issues?
- Key Relationships: People who hold special relationships with stakeholders like customers, suppliers, or partners?
The appropriate definition depends on a shared understanding among senior leaders of the organization's specific needs. Leaders must become more aware of this range of possibilities and act accordingly.
What to Do:
- Expand your internal definition of talent as you design development programs.
- Target different employee populations according to their unique competencies, values, performance, and purpose within the organization.
Expanding the Scope of Talent Management
Just as "talent" has multiple meanings, so does "talent management and development." Most leaders agree that it includes acquiring, developing, and retaining talent. However, a more comprehensive approach is necessary.
Talent management can also include:
- Employee engagement
- Deploying and positioning people in the right roles
- Monitoring in-place development
- Transferring specialized knowledge and institutional memory
- Leveraging key stakeholder relationships
What to Do:
- Expand your definition of talent management to include more transformational methods such as employee engagement, strategic deployment, and the transfer of critical knowledge and relationships.
Integrating Strategic and Tactical Talent Management
Talent management must be pushed into daily management, becoming both a strategic and tactical function. A common issue is that operating managers expect HR to handle all aspects of talent, from recruitment to performance appraisals. This is impractical, as HR professionals do not have daily interactions with all employees.
Effective talent management becomes part of the daily fabric of the organization, where all employees and managers play a role.
What to Do:
- Empower all employees and managers to participate in recruitment, onboarding, training, development, and appraisal.
- Make talent management a daily priority for operating managers, not something delegated solely to HR.
Tapping Into Nontraditional Labor Markets
As birthrates fall and talent shortages intensify, organizations must look beyond traditional labor markets. Several nontraditional talent pools are gaining importance.
1. Workers Beyond Traditional Retirement Age
Baby Boomers are being replaced by a much smaller generation, creating talent gaps. Employers must get better at recruiting and retaining workers who are at or beyond the conventional retirement age. Programs to recruit retirees and establish alumni societies can help organizations stay connected to this experienced talent pool.
2. People with Disabilities
Approximately 5% of the world's population has some form of disability, and this group faces high unemployment rates. Many disabilities are not visible. Future-focused employers will get better at recruiting, onboarding, and developing workers with disabilities.
3. Military Veterans
Veterans possess valuable skills acquired during their military service. Employers are getting smarter about creating "military crosswalk" programs to translate these skills to the private sector. Providing support through onboarding, development, and career counseling is crucial for a successful transition.
What to Do:
- Actively recruit and develop people beyond the traditional retirement age, using alumni networks to maintain relationships.
- Create a plan to recruit, onboard, and develop people with disabilities.
- Develop a specific talent plan for veterans that recognizes their skills and provides transition support, such as coaching and counseling.