The War for Talent is escalating, and the ramifications can be felt across industry segments, in both developed and emerging economies. Leaders increasingly worry about the strength of their talent pipeline and often this ball lands in the Human Resources department’s court. There is increasing pressure on HR leaders to craft talent strategies in line with the business agenda. This has, in the past, lead to a flurry of new programs, practices and processes to help organisations attract , retain and develop talent; yet for all the increasing sophistication of talent management practices, the situation continues to deteriorate.

In reality, there is little that reactive programs or practices can do in the absence of well researched strategy. There is an increasing acceptance that HR needs to bring a stronger strategic orientation to the boardroom. At a minimum, an orientation which addresses the unquestionable shifts in every organization’s talent reality.

In specific, there are four trends which every talent strategist must increasingly acknowledge, and provide for –

1. Global business is converging, getting riskier and more complex.

Organizational outcomes are increasingly influenced by external factors beyond our control. One size solutions don’t work across the disparate talent circumstances that a global business is forced to contend with.

2. Talent is getting commoditized. Today’s employee makes a daily choice.

Information asymmetry has corroded the institution’s erstwhile advantages as a career benefactor, a custodian of equity, and provider of financial security. The fading stigma associated with job hopping, the increasing risk of retrenchment and rise in strategic outsourcing has fundamentally altered 21st century employment drivers.

3. The “War for Talent” will distinctly escalate over the coming decade in several key markets across the world.

Talent today doesn’t chase retirement benefits. It chases employment value. Organisations which are better at providing this value win. As a direct consequence, 20th century management practices are proving increasingly ineffective with 21st century employees.

4. Winning organisations are moving beyond process based Talent Management by developing a broad based talent culture.

There exists a strong need for long term talent strategy, which is built and executed within the business, rather than the periphery. While we need to inspire leaders on their role in building a talent culture, the human resources department, with its unique vantage point, must play an impactful facilitators role in talent strategy formulation and execution.

Testimonials

Stay connected with us in Social Media!