Question

Discuss the future of talent management as a formal discipline. What should organizational leaders expect over the next decade, and how can they prepare now to effectively address the challenges and opportunities?

Answer 1

In highly competitive scenario, every organisation wants to have access to the best talent available in the marketplace and have an edge over the competition. In the age of internet connectivity, social media and professional networks, the talent pool of the organisations is boundless and beyond the boundaries of countries and continents. As a result, good talent is accessible than ever before, but not necessarily gettable and retainable. It makes talent management one of the highest priorities of management.

The future of talent management includes high intervention of technology. The organisations would use technology enabled LMS to meet the learning needs of the employees and match them to the most appropriate jobs and tasks. This, along with use of artificial intelligence in HRM systems, will enable the companies to customise the learning and development solutions to the individuals, and managing each human resource separately and in unique way, so as to provide him /her the most suitable environment to perform, grow and conribute to the organisation to fullest of capabilities, while remaining stable in the job.

Organisation's leaders would face the need to develop a culture of openness, individual customised plan for growth, learning and enrichment, use of technology to make the most of an individual's capabilities and thus, attracting and retaining the best in the marketplace. For fulfilling these tasks, following preparation is essential.

(a) Invest in technology enabled HR tools and techniques to make more informed decisions.

(b) Develop and culture of growth, inclusion and transparency.

(c) Integrate the human resource function with other functions of organisation to have a clear view of the talent management in broad perspective and ensure greater inclusion of stakeholders in HRM decisions.

(d) Utilise the power of social media and professional networks for branding the organisation / showcasing its capabilities and creating a pool of professionals, not only as potential candidates for roles, but also as external experts to broaden the talent spectrum of the organisation.