Identifying, Managing, and Nurturing Top Talent
Talent is an indicator of one’s capacity to learn, grow, and develop new skills for future use. It also suggests how quickly a person or organization can adapt to new challenges. In this article, “talent” is defined as a dormant or untapped quality that lies either in an individual employee or the collective body of employees.
The true art of managing talent is, first, being able to identify it and understand the context in which it can flourish, then providing the proper investment, guidance and opportunities for it to grow. While the manager’s goal is to make the most effective use of someone’s talent, an executive’s goal is to translate that into profits for the company. Below we look at how the search for talent fits within an overall management development strategy.
Developing talent should employ the resources of the whole management team, Operating executives and managers have the experience to best know what skills are needed. They also are in position to establish relevant programs for developing and managing talent.
Can talent management programs yield tangible results?
Yes. They can bring real benefits to a company by generating tangible amounts of enthusiasm, inspiration, and commitment, all of which are essential to business. They can also help promote product innovation, create new client relationships, and identify different ways of achieving the overall business strategy. All of these activities, of course, contribute directly to bottom-line profitability.