A strategic approach to talent management?
For decades, corporate leaders have declared that “our staffs are our most important asset”. Of late, more and more executives are making this statement and they are making it with greater frequency. In fact, there are a number of reasons to believe that their own people are increasing in their organisation’s strategic importance.
A large number of organizations have realized that their own workforce is an important asset if NOT their most important asset. Today, progressive organizations place high importance in managing and developing their staff and bridging any competency gaps. They are looking for a structured and actionable program across the organization to address their needs and create a momentum for progress, continuous improvement and excellence.
More and more organizations come to terms with the fact that their staffs’ talents and skills is the main driving force behind their business success. Those that are engaged in talent management (human capital management) are strategic and deliberate in how they source, attract, select, train, develop, retain, promote, and move staff through the organization.
Talent Management is a strategic move to help organizations recruit, retain, and develop the identified talent also known as High Potential or Hi-Po for short. There are those that apply the Pareto principle by spending 80% of their training budget on the 20% of their identified talent pool.
These Hi-Pos then goes through extensive training programs to learn new skill, techniques and gain more exposure so that they can impart the knowledge and improve the systems internally. They then try to lead and influence others.
And, so what happen to the 80% of the workforce? With only 20% of the training budget left, most companies would organize annual team building events with occasional one-off trainings. How many of these trainings meet the objectives and help bridge the competencies gap?
What we need to critically look at, right now goes beyond conventional approach. We all must advocate the need for our leaders and talents in our organizations to step up and take a proactive approach in training the whole workforce. We need to provide them with the skills and tools to effectively inculcate a culture of learning. And that is exactly what MiniWorkshopSeries can offer you and your organization. Email us now to find out how.