Talent Management

Leaders usually manage people and this is a great responsibility. Talent management includes hiring processes, succession planning, formal training and development, coaching, mentoring, feedback, and creating a culture that is people focused. People are much more productive in an environment where their skills, talents, and personality are respected and valued.

Talent management has become more important because of employee churn. People change jobs much more often today than in decades past. They are looking for that right environment to fulfill their professional aspiration. In our research in working with many companies and universities, talent management is almost always the lowest-scored competency for leaders.

Why Talent Management is Important to a Leader

Talent management is one of the most important leadership competencies because it involves people. Many leaders fail because they have difficulty fulfilling their responsibilities in talent management. It is important to team members that leaders focus on the components of talent management and create a people-focused environment. The leader must give feedback, provide development opportunities, communicate a purpose and vision, and coach those who need help in specific competencies.

Benefits for the Leader

Leaders who focus on talent management components will be much more likely to succeed. Team members who have opportunities and are given constructive feedback will work harder toward achieving the goals set for the team. If team members feel valued they will contribute more and work with the leader to create an excellent work environment of development and opportunity.

Top 3 Coaches Recommendations for Talent Management

1. What are your organization’s processes for attracting talent? Could they be improved? If so, discuss with your peer leaders to find a solution.
2. Set a regular time each month to meet with each team member and provide him or her with feedback. Assign developmental activities for them to accomplish between sessions, and check on progress throughout the month.
3. List your team members and identify the strengths and weaknesses of each. Do you assign tasks accordingly? What development opportunities do you provide to each to mitigate their weaknesses and enhance their skills.

Measure and Improve Your Talent Management Skills

Be determined to improve your talent management skills and behaviors. Take the short talent management self-assessment on this page to identify where to improve your talent management skills and behaviors. Then, get more coaches’ recommendations in Chapter 33 of The Leadership Compass: Mapping Your Leadership Direction to help you fine-tune your talent management skills and behaviors.