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Recent surveys by McKenzie and Accenture have asked executives to list their top business issues. It’s no surprise that talent management, specifically leadership development, tops the list. Demographics such as the looming retirement of the boomer generation, combined with the rise in entrepreneurism, will leave many organizations with a leadership gap.
The goal of talent management and leadership development for most organizations is fairly simple: Identify the right talent early, particularly early in the screening process before you hire someone who might not be successful in the role. Retain the talent that you want to keep, particularly high-potentials. Identify those high-potentials early and develop that talent for future opportunities and challenges. It’s important to create succession candidates at all levels of the organization, and to find untapped talent within the organization.
The reality of talent management in most organizations, however, is that HR has been consumed with benefits management and that talent management has fallen by the wayside. Leadership development is a business issue, not just an HR issue.
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