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Talent Management Practices and Opportunities
ASTD - American Society for Training and Development, Jan 2009, Pages: 78
Talent management has become a top priority for organizations and will continue to increase in significance over the next three years. In today’s volatile business market, effectively managing human capital can play a crucial role in business success. In ASTD’s Talent Management Practices and Opportunities research study, you will discover how talent management is currently being used by a diverse range of organizations and learn the best practices of an effective talent management program.
The ASTD-i4cp Talent Management Practices and Opportunities Study (the study) found that integrated talent management is a relatively new practice that will become increasingly emphasized in organizations over the next three years. In today’s volatile business market, effectively managing human capital can play a crucial role in business success. Talent management has become a top priority for organizations. It is also an area where there is much room for improvement. Only about one in five organizations report that they manage talent effectively to a high or very high degree.
There is debate in the profession as to how to define talent management. For the purpose of this study, we defined talent management as a holistic approach to optimizing human capital, which enables an organization to drive short- and long-term results by building culture, engagement, capability, and capacity through integrated talent acquisition, development, and deployment processes that are aligned to business goals.
The aim of this study is to discover how talent management is currently being used by a diverse range of organizations and to discern the best practices of an effective talent management program. To that end, ASTD and i4cp identified multiple opportunities for organizations to enhance their talent management capabilities:
- integrating talent management components more effectively
- focusing efforts on the right programs and processes
- determining how best to lead talent management programs
- nurturing talent-oriented corporate cultures
- adopting talent management metrics
- cultivating the skills needed to manage talent effectively.
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