Without exception and now more than ever, rethinking Talent Management is at the forefront among many Human Resources executives and decision-makers. The methods developed in the past ten years are increasingly growing out of date. They are being progressively replaced – and at times, necessitates complete reshaping. For example, areas such as corporate coaching are experiencing a massive transition, and the principles of « hiring and evaluation » are being substituted with a focus on company environment, engagement, and independence. The secret to present and future professional success is to place importance of rethinking talent management from a collaborative point of view : an interactive approach between superiors, colleagues and other individuals invested in the collective success of company affairs.

Additionally, another short-coming of conventional Talent Management schemes is rigidity. Only six percent of businesses stated that they are recruiting outside the profiles they have previously diligently stuck to. As most organisations are in the midst of a transition during this post-crisis scenario, recruiting outside the box can allow businesses to be exposed to a collection of myriad skills that are crucial in this current period of time. Additionally, it calls for a proliferation of diversity in the company, which can be a vital indicator to understand market trends and thereby improve consumer expectations. However, this can pose other difficulties such as integration because unconventional profiles have a harder time understanding the company culture. To curb this, Talent Management schemes had previously focused on internal mobility. Although effective in reducing costs and training sessions, this can induce stagnation in companies.  Therefore, optimizing the best potential of a vast talent pool requires the previously stated ethos of collaboration and growing together through coaching. This can only be attained from a two-way objective of evolution – with contributions from both the executives and the workforce. Collaboration on projects with departments or newer recruits who previously were not included in certain discussions could similarly give rise to new ideas and simultaneously keep everybody in the loop.  It can additionally invoke a sense of belongingness that the workforce wants and needs to be invested in a company.

Employees no longer are satisfied with just working in a company. In addition, freedom, flexibility, and capability growth are necessary. They will enable them to make a true impact and add benefits in the over-all company. Understanding the importance of rethinking Talent Management ensures that comapnies are prepared for future challenges.

References:

1. Rethinking Talent Management, University of Virginia.
2. Why HR Chiefs Must Rethink Talent Management After COVID-19, June 04, 2020, Financial Times.