Challenges of Talent Management

Employees are the biggest live asset that a company owns. Best employees add value to an organization. Attracting the best set of workforces, training and retaining them for a longer period is known as talent management which is a vital task of human resource management. Talent management focuses on managing a talented workforce through better hiring polices, training and managing the retainment which is an ongoing process from starting the employment to leaving the organization.

Talented individuals can make a significant difference to organizational performance. It can be either immediate contribution or provide with a long-term benefit where learning and development can do a paramount change in the talent. Recruiting the potential employees forecasting the future talents which can be developed through learning opportunities will be an advantage for an organization. But, understanding the potential candidates is a real challenge facing by HR.

Education and learning are the most important to produce a total employee with the knowledge, attitudes and skills. Proper talent management policy must ensure planning of talent, sourcing, review, interviewing and job offer, onboarding, development, building relationships, changing employment status and termination. Investing on employee talent development is essential. Demotivated employees are not a good fit for a healthy organizational development.

Nowadays talented individuals with potential skills or those with a strong track record are challenging organizations. Earlier the power of talent acquisition was with employer where now it has shifted from employer to employee. New generation with many talents doesn’t stay in a place where they don’t see a clear career succession where they jump from one employer to the next depending on the best offer. Loyalty to one employer or one career path is likely to be the anomaly rather than the norm.

So, what are real challenges that HR practitioners face with the emerging trends in the world. Poor hiring strategies are affecting the organizational culture in a larger scale. Inexperienced employees on updated technology, ineffective leadership roles, digitalized HR policies and tools, compensation demands, higher employee turnover are some common factors.

Talented individuals want to work for an organization where the organizational environment suits their values, attitudes and expectations. Talented individuals won’t tolerate a boring job for very long. Another reason for higher turnover tends to happen due to multigenerational workforce where digital natives of newer generations are choice initiatives of growing new interests. 

Behaviors of younger recruits are is a critical challenge for developing a robust leadership pipeline in an organization. Global leadership is another trend. So, setting standards for ethical behaviors and transparency management is somewhat challenging while it is essential to reduce complexities in every aspect for a smoother organizational development. The new generation of talent also has the ability to work collaboratively to create new ideas.

In the static emerging world of work, talent is in short supply and therefore is in high demand. Some talented individuals see the modern employment las a good market place where they can offer their services to the highest bidder for demanding attractive packages. Not only salaries, but they do consider on constant stream of opportunities and support to success in personal career objectives. 

In summary, talent doesn’t behave as what it wants. It will be difficult to manage, where talent needs proper attention, right conditions and provide the right environment and feed the new knowledge whenever required to bloom.

References

Erickson T, Todays top 10 talent management challenges, leadership development, Harvard Business Review, (20 June 2008) Available from: https://hbr.org/2008/06/todays-top-10-talentmanagement

Five Biggest Talent Management Challenges in HR, Randstad, Available from: https://www.randstad.com/workforce-insights/talent-management/the-5-biggest-talent-management-challenges-for-hr-in-2017/

Gray R, Talent Management Challenges & Issues, Recruiter Training, Top Echelon, (7 June 2017) Available from: https://www.topechelon.com/blog/recruiter-training/talent-management-challenges-issues-problems/

Juneja P, Talent Management Opportunities & Challenges, People Management, Management Study Guide, Available from: https://www.managementstudyguide.com/talent-management-opportunities-and-challanges.htm