Another interesting aspect of talent management is how it is transforming the human resources department from a transactional role to a strategic role in the organization. Let me explain what this difference is about. In many companies, HR’s role is to make sure that everyone’s paperwork is complete, that all the t’s are crossed and the i’s are dotted. Their role is to help fill job openings and to discharge employees who are not making this cut–all-important roles for certain. Consider for a moment, however, what happens when those transactional roles (which are supportive at best to the organization) shift to a more strategic role where the jobs that are critical to the company’s success become the guiding principal of what makes the talent management department important to the success of the organization.
In addition, talent management also means that the roles required to fulfill the corporate mission are in better alignment than when employees are hired to “fill a position. Jim Collins who wrote the book Good to Great stated that it was not enough to just get your “people on the bus”, but you had to make sure they were in the right seats and that the bus was moving in the right direction.
Talent management gets the right people in the right places and the research shows that companies that do that well get a 22% higher shareholder return than companies that don’t use talent management effectively. So there is a great business incentive for organizations to begin to look at how they manage and leverage their talent effectively.
So how is your organization using your talent?