Talent Management – a Buzzword in Corporate Hr Today

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Not surprising to know, 60-70% of the Indian CEOs spend their time in strategising talent recruitment and retention (according to a BTI study). The next obvious question that our mind poses is “Why?”

The scope of corporate HR has much widened since the 1990s, from the mundane activities of just hiring and paying the workmen, to the ‘strategic HR’ activities like training the recruitees as well. Restructuring the organisation (e.g., some companies moved from centralised to decentralised organisational structure) has led to the restructuring of the job roles and concentrating on compensation management too, with equal importance. The learning management systems to manage the learning and keeping track of competency paths of all the employees in the organisation is one such advancement, typical to the strategic HR function, alongwith the Applicant Tracking System, and Compensation system in the list. Having entered an intriguing area as this, the question that pricks is - “Are we still in the strategic HR function days?” Today the recruiters are not bothered on how to acquire talent; they are bothered to make a cost effective and more efficient ‘competency based recruitment system’. Acquiring talent is easier today than retaining the talent. Today the Learning and Development department is not bothered on how to train the employees; they are bothered about filling the competency needs of their employees for the future needs as well, in addition to the present. The CEOs are concerned about succession planning and finding ways to hone and up-bring the existing talent pool, laying greener pastures for the organisation tomorrow. Thus we own all rights to say that today we are in the “Talent Management era” and that strategic management perspective has just become old. HR function has moved all the way from a ‘Business function’ to ‘Business partner’, to what is called ‘Business integration’ today. Process improvements for efficiency and effectiveness, competency...
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