Tuesday, October 23, 2012

HR's 5 Most Important Talent Management Roles

I believe we will be seeing a crazy job market over the next few years.  With all indications, we are beginning the de-thawing process of our frozen economy.  Every day, I hear some better news regarding jobs, homes and economic outlooks.  I know we are not out of the woods yet, but optimism seems to dominate most conversations.

With the economy on the rebound employees get itchy feet.  Meaning...the employees that have been patient and performing during the downturn but not necessarily engaged are looking to make a change. Some reports suggest that number of "looking" employees could be as high as 80%.

So, I say all of this, to illustrate how important I think talent management is going to be over the next few years. I believe HR has the opportunity to really impact the organization by making sure the right people are in the right roles, doing the right things.

I see HR playing 5 important roles as far as talent management is concerned:

1) Strategic Role-Be a strategic planner and an executer.  Assist managers with their talent needs by creating talent forecasts.  

2) Performance Manager Role-Pay for performance and mean it.  Make sure accountability is part of the culture.  

3) Goal Cascader Role-Make sure all employees know what is expected and how they will be measured.

4) Talent Manager-Hire the best, Succession planning is a must to be competitive. Talent mobility allows organizations to be flexible and competitive.

5) Metrics Guru-Tracking measures like cost per hire and days to fill are no longer enough. It's all about being predictive using analytics.

I know HR wears many other hats besides talent management, but with the recent trend in outsourcing of administrative tasks talent management seems like a great place for HR to focus its efforts.

CEO's always cite talent as one of their top 3 concerns even during the downturn.  So, HR has the opportunity to add value and solve a business challenge at the same time by focusing on attracting the best talent, retaining that talent and increasing productivity.

What are your talent management predictions?  Is your company ready for the potential talent challenge that lies ahead?
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