Summary: Talent Management Challenges
Talent management is a set of organisational processes integrated to attract, recruit, place, develop, motivate and retain productive employees. Organisations today face challenges in talent management in the following areas:
Increased Globalisation and Mobility
- Increased availability of work opportunities internationally, which may pull talent away
- Increased competition with international companies for talent
- Increased diversity to manage in the workplace
Rise of Technology
- Rise in social technologies create a complex information web where perceptions of companies can change fairly quickly
- Increased use of information technologies meant that companies need to move beyond conventional methods to recruit and develop talent
Changes in Workforce Demographics
- Changing demands of employees who work not only for money
- Emerging workforce may not have gone through difficult times like their predecessors, resulting in lower resilience levels
- Emerging workforce tends to be more educated along with the shift of focus on technical skills to service skills
Overcoming the above challenges will require the company to (1) have a realistic understanding of how talent impacts the business, (2) set talent management as a strategic initiative in the company and (3) implement systems and processes in an aligned manner to manage talent.
Morphos International offers a suite of service offerings to help companies employ strategic talent management practices to ensure business growth and sustainability. Services can include talent management audits, consultancy, coaching or learning and development programmes.