TALENT MANAGEMENT KEY TO THE NEW NORMAL PART 1

AUTHOR :DR. ZAMYRA FRANCO BAGUIO

The biggest issues that Human Resources practitioners and organization leaders have to address together are organization productivity and employee engagement. Talent Management (TM), or the conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs, is the key to achieving just that in the new normal.

As Jack Welch, the former Chairman & CEO of General Electric had said “Talent Management deserves as much focus as financial capital management in corporations.” And so this begs, the question of, who are the “talents” in the organization? Talent consists of those individuals, who can make a difference to organizational
performance, either through their immediate
contribution or in the longer term by demonstrating the highest levels of potential.

Notwithstanding the size of the organization, the
industry it operates, or the lifespan, TM is an approach that leads to productivity and employee engagement among others. What then are the main objectives of a TM Program in an organization? Here are some reasons to go into TM:

1. To develop an integrated talent management plan  designed to address the talent gaps.
2. To develop talent to enhance performance in current  positions as well as readiness for transition to the next  level;
3. To develop a succession and retention plan to sustain  organizational success and growth.
4. To maximize employee performance as a vital source  of competitive advantage.
5. To empower, engage, motivate employees. This will  cut Down on high turnover rates.

Organizations benefits from a sound and wellimplemented TM Program. The right person will be in the right job and organizations will be able to retain top talents. Hiring will be more strategic and systematic. There will be heightened understanding of employees needs, strengths weaknesses and career goals. When an organization gets to know who its high potential is, it becomes easier to invest in their training andprofessional development.

Talent Management has become an important topic and is now looked upon as a critical human resource activity.

Dr. Baguio is the Principal Consultant of Leaders Link Training & Consulting, a Human Resource consulting company. She is a Professor of Organization Development at the University of San Jose Recoletos, where she completed her doctorate studies on Doctor ofManagement in Human Resource Management. She is an accredited Facilitator of the German International Cooperation (GIZ). She is an entrepreneur for 20 years now, having founded Uha Caregiver Training and Britech College. You can reach her atbaguio.mia@gmail.com.