The term Talent Management (TM) itself appeared in the organization not so long ago. However, hundreds, if not thousands, of articles in professional and scientific communities are still devoted to it. Talent development appearance was due to the rapid transition from the industrial age to the information and digital in the late 20th and early 21st century. To stay afloat and not lose leadership in a particular area, the company needs not just people who perform their work efficiently but talents who can quickly respond to emerging changes and make specific changes in its life. It can be assumed from this that TM is a particular set of personnel management methods that enable the organization to attract, effectively use, and develop those employees who can make a significant contribution to the organization’s development (Eva, Marian, et al., 2020). Hence the understanding that attracting, developing, and retaining talent is currently one of the most severe problems faced by companies around the world.
In the process of writing the essay, special attention was drawn to the article The CEO’s Guide to Talent Management Today, published by the Boston Consulting Group of the Henderson Institute, in which the authors give a contentedly easy-to-understand explanation of Talent Management: people who bring a competitive advantage to the company (Vikram, Jean-Michel, et al., 2018) It should be agreed with the authors that with today’s emphasis on advanced technologies, it is easy to lose sight of a simple fact: all these technologies are meaningless without the talent to use them. Human skill is more critical than ever in the age of automation, robotics, and artificial intelligence.
Further, the authors emphasize that modern companies need a fresh look at recruitment and talent development. They need to figure out how to” retrain “or” upgrade the skills” of people displaced by automation and other technological advances. The displacement of people by automation and digitalization is an inevitable process. That is why it must take place less painfully with the possibility of retraining employees. It can lead to the emergence of new talents in the company.
It’s worth agreeing with the authors’ opinion that talent management is like parenting – it all depends on how you spend your time. It is only necessary to clarify: how well you will spend your time. After all, you can treat the process formally or waste time. It is no secret, and the authors of the article mention, that many managers, realizing the need to manage talent, and educate leaders, spend much less time than required (Roselinde, 2018). The report contains a link to the opinion of Roselinde Torres, who believes that 58 percent of companies have failed to educate a sufficient number of talented leaders of organizations. Further, she expresses the opinion that today is the time for entirely new practices in TM. It is necessary to ask yourself constantly: are you brave enough to abandon the rules that made you successful in the past? Some successful modern leaders say that the most impressive development occurs when a specific emotional endurance develops, which helps resist people who say that your new idea is reckless. Not every organization can afford such a risk, and it is worth agreeing with the opinion of the authors of the article that each company will approach the problem of talent in its way (Jessica, 2021). The winners share the view that talent is the most critical business priority. Since the article in question wrote before COVID, the current situation makes certain adjustments.
It is possible that the search for new talents may be difficult or facilitated due to various circumstances. A recent study conducted in the UK showed that three out of five UK workers intend to change their careers due to the pandemic. Sixty percent plan to make changes, such as changing jobs, mastering new skills, or finding a unique role in an existing organization. Almost one in ten respondents (nine percent) said they intend to start a new career. The data show that people are trying to adapt as best as possible to the existing conditions in difficult times. This phenomenon should not go unnoticed in organizations, so employees should be encouraged for their readiness for a new job.
References
Eva, G-G., Marian, T. & Hugh, S. (2020). Talent management: Context matters. International Journal of Human Resource Management, 31(4), 457-473.
Jessica, B. (2021). Three in five employees planning career changes because of Covid, survey finds. People Management.
Roselinde, T. (2018). What it takes to be a great leader [Video]. TED.
Vikram, B., Jean-Michel, K., Deborah, L. & Peter, T. (2018). CEO’s Guide to Talent Management Today. BCG.