Talent Management

Just as businesses have changed dramatically over the last 20 years, so have people's

attitudes about their employers—and the attitudes of the most talented people are no exception.

Also, knowledge is more important than ever before—and a major source of competitive

advantage—making it imperative for business to find, attract, and retain people who can operate

effectively within this environment. For any business, this is a challenge that requires:

• understanding the characteristics of talent-intensive businesses

• choosing the best ways to attract, recruit, and retain the most talented people

• building the right work environment and culture.

What You Need to Know What are the characteristics of talent-intensive organizations?

For these organizations:

• their principal assets—talented people—do not appear on the balance sheet (although they are, or

should be, the main determinants of the company's market valuation).

• these key assets are mobile, as talented people can move easily to other employers.

• the creativity and imagination of employees is critical to company success.

• their success criteria stretch beyond the numerical bottom line. For example, winning an award for

innovation may mean more than profit or cash-flow

Retain the Best People

Regularly ask yourself these key questions:

• Who are my key people?

• What makes them exceptional?

• How are they feeling now? Positive (stimulated, challenged, valued) or negative (under pressure,

concerned, struggling to perform at their best)?

• Are their working environment and terms and conditions of employment competitive?

• Do they know how much I value them?

• What are their aspirations and are they realistic? If so, what am I doing to support them? Do they

know I'm doing this?

In addition to these personal factors, pay remains important for most people, if not for its own sake,

then for the sense of recognition that it brings to the individual.

Build