A buzz word for all corporates as all feel talent Management gaps lead to organizations not being able to meet the goals. Various surveys reflect this, making it the biggest concern for CEOs. Organizations are still striving to find the best solution. To solve this huge concern first we need to understand how can TM solve the business requirement of an organization.
TM is a process that helps organization be ready for meeting the business requirement and increase the efficiency of an organization reducing the flux that exits in an organization. Organizations must align talent management practices with their goals, tailoring them to their specific needs, which vary based on their state.
An organization with growth projections will have a different Talent requirement than the organization which is struggling to meet its financial goals and will be different to organization which are in businesses which are in industries which are undergoing recessions or consolidation.
We have seen the telecom industry go through the consolidation in the last three- four years, the BPM industry has been through it earlier and now we the IT services organizations going through it.
With the changes in regime in the US and the changes that are being bought about in US the Software services. It will now have to start looking at a very different strategy around talent keeping in mind the availability of talent and the financial impact the change is going to bring to the organizations.
Indian MNCs have already started preparing for the future but have limited options and the talent management teams are burning midnight oil to deal with the strategic shift.