Talent – The Boardroom Buzz Word
Written by: Caroline Newns
‘Talent’ is fast emerging as the Boardroom ‘buzz’ word.
Organisations, regardless of size or complexity, are focusing effort on their Talent agenda to withstand an uncertain business landscape.
Recently, I assisted a number of UK SMEs for whom the prospect of a skills shortage is a real concern.
Whilst many of my larger corporate clients have arguably more Talent Management resources at their disposal, they too solicit my help on this key business issue.
Wherever you sit in terms of company profile there are some ‘universal truths’ relating to Talent which are worth noting:
The importance of making your business a Talent ‘trap’ is the first stage of any Talent Management strategy;
Whilst HR (or an equivalent department or individual) may act as the ‘custodian’ of Talent, it should remain a Board focus and a ‘line’ responsibility;
Talent Management is about identifying, recruiting, nurturing and retaining individuals with the requisite knowledge, skills and attitude;
There is no substitute for simple yet robust processes – ones that enable rather than frustrate debate and decision making;
Ensure that leaders and people managers have both the capability to discern Talent and the tools to nurture and retain it;
Differentiate between the business-critical roles you need to protect and the particular individuals you wish to retain (they are not necessarily the same!) and,
If the leaders and senior decision-makers in your company are not yet systematically looking at the issue of Talent Management . . . they should be. If you need help in doing so, do contact me.