A benchmarking survey from ISM, CAPS Research and Zycus identifies current talent management issues and strategies.
Over the past five years, much has been written on the topic of talent management and the importance of implementing an effective talent management program to retain and develop a workforce capable of meeting the challenges of an evolving economy. There is a wealth of online resources and information on talent management issues, ranging from recruitment to developing and maintaining a high-performance workforce. However, companies still struggle with how to create opportunities for highly talented individuals, recognizing that tomorrow’s supply management employee will likely require a different set of skills to operate in a different economic climate. Talent management no longer means simply hiring the most likely candidates to fill job openings. Human resource organizations are still integral to the talent management solution, but effective supply management organizations are starting to consider talent management to be a viable business strategy. Talent management, like other evolving business strategies, will adapt to shifting global business dynamics and sourcing locations; will integrate highly efficient tools and technologies into the workplace; and will evolve as economic and political climates continuously impact operational processes. When adopting this new business strategy, supply management organizations will require different professional development methodologies and employee retention approaches that recognize generational and geographic differences. Successful enablers will also be effective in recruiting and training talent from developing economies.