It’s 2017; the business world is standing on at a competitive crossroads. Thanks to rapidly evolving technology, increasing globalization, and the rising war for talent—the present business landscape is undergoing a sea change. Today’s the success of any business very much hinges on the company’s ability to draw and retain talented employees. Yes, over the years, it has become more challenging for organizations to hire top talent and enhance their organizational culture and work environment.
Gone are the days when people used to work just for the sake of work. Time has come when people prefer deriving a purpose and meaning in their work. Ensuring a perfect match between a talent and his/her employer holds importance for both of them to be happy. The right match enhances the possibility of full engagement. However, how should leaders manage their organizations in order to make sure that their talent gets the highest priority?
Believe it or not, talent provides a great blueprint that properly sheds light on an understandable approach to establishing and running a company focused on talent. Therefore, organizations should pay attention to the following things:
- Taking care of transformation
- Reinventing HR and talent management
- Performance assessment
- Strategic talent management
- Corporate boards
We can talk here about a book authored by Ed Lawyer named ‘Talent—Making People Your Competitive Advantage.’ The book sheds light on the Start Model. In a nutshell, the Star Model outlines the features that assist in creating a company fixated on human capital. Human capital-eccentric companies should be known as the places that not only value but also nurture inspirational leaders. The Star Model starts with a strategy. Now what’s the strategy? Strategy is all about defining the services, products, and markets a company will give emphasis to and the way a company will compete deciding the appropriate competencies and capabilities are the base to the execution of a strategy.
At the middle of the Star Model lies identity. However, one should never ever mix up identity with the culture. Identity is completely different from culture. Culture should be considered as various internal norms and values of an organization that describes how various things to be done and which things are important.
Identity, on the other hand, is defined as the essential personality of an organization in regard to how it manages its people, what it gives value to, what the appropriate method is to do various things, and what should be considered as acceptable and unacceptable behaviors.
Talent is considered as an essential resource for those leaders who aspire to decide which integrated talent management strategy suits their organizations the best. The choices should be a wide range of engagement approaches that comprise long-lasting employee relationships as an objective or a global-based competitor approach that demands an ongoing requirement for technological capability as well as new talent.
Given the above-mentioned discussion, it is well understood that the world of talent management has received a major face lift. It necessitates talent managers to be equipped with the appropriate skills that help them not only identify and draw the appropriate talent but also nurture and retain them for long. And because of this reason, the popularity of talent management certifications is now increasing day by day.