Talent as a Strategic Priority

A McKinsey Quarterly article on “Making Talent a Strategic Priority” dealt with lack of talent management especially when more knowledge workers are required:

“Companies like to promote the idea that employees are their biggest source of competitive advantage. Yet the astonishing reality is that most of them are as unprepared for the challenge of finding, motivating, and retaining capable workers as they were a decade ago.”

While reading this it dawned on me that talent strategies lead to talent tactics and talent projects just like any strategy-tactic-project link in the organization. They went on to describe how talent management is perceived by organizations:

“Too many organizations still dismiss talent management as a short-term, tactical problem rather than an integral part of a long-term business strategy, requiring the attention of top-level management and substantial resources. One European COO lamented recently. “Talent management puts you under strain because it stops you from doing what you are rewarded for.”"

This idea of “reward” is important but should not be the focus; executives must see talent management as something that will give them value towards accomplishing their mission. I really think it is more of an educational, vs. reward, challenge: executives need to reevaluate and learn how important and valuable it is to attract, motivate and retain talent at all levels AND link these “projects” to their strategies.

How does your company perform the “talent management” process? Is it a process for a select few in the organization?

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