Paris, 8 December 2014
Talent Management: why is it crucial ?
-The first reason is that in a market of hypercompetition and uncertainty, Talent Management encourages employees to perform better and be more involved in the business. The business environment has become more and more in favour of capable individuals who can “make a difference” and “bring value”. The business is seeking excellence through talents which possess “individual, competitive advantages” for the business, which express themselves through those who do better than others and through their exceptional behaviour.
-The second reason is: “if you take care of the people, they take care of the business”; to develop the individual talent and excellence. Essentially all the businesses today benefit from the same process of R&D, production, logistics, purchasing (…) so what really makes the difference is the talent. These men and women, equipped with exceptional personal assets, are capable of “making the difference” and of bringing a distinct strategy to the company. The company is aware that it would be unable to replace a particular talent so once a talent leaves the business, it becomes an unbalanced and unsettled system.
-The third reason is that the business must know how to retain talent: it’s an everyday struggle and the environment must be stimulating and appreciative in order for a talent to stay in the same business. In fact, a talent is often more mobile since it is more sought after than others. The company must realise that the individual resources of a talent are only offered to them “temporarily” and not “indefinitely”. It is therefore a “precarious competitive advantage” for the company that it must capitalise on to the maximum in order to differentiate itself from its competitors within the same market.