Success in the current marketplace and certainty that of the future will require that every organization ensures talent management is not just the individual responsibility of an HR department. Instead, talent management must be viewed as a core business strategy. The prime reasons for this strategic approach is the fact that CEOs have finally realized that if people are the competitive backbone of any company, then a more formal approach at the executive and strategic levels must be developed to ensure that the right people are in the right jobs at the right time.
The issue of talent management is also becoming more important as it is anticipated that baby boomers will soon begin to retire in large numbers. As a matter of facts, some organizations are at the moment facing the potential of 30 – 50% of their workplace being eligible for retirement in the next three years. Talent management is not something that can wait. Proper action must be taken right now through the expertise of an executive search consultant.
At the same time, what does this action look like? Some of the strategies being applied across the continent in the field of talent management include the following:
Increased Use of Executive Search Professionals
The process of searching and identifying candidates in a global marketplace is beyond the skills of in-house personnel and as well as requires a lot of time and energy than possible for most people in these positions. Today’s executive search consultants have increased their ability to the market opportunities beyond traditional local geographic regions and through a combination of modern technology and print advertising, they can quickly search out for the most qualified candidates.
A Wide Search Range
Organizations are beginning to look at candidates beyond their own geographical regions including looking for candidates from other countries. There are already many local employers who have targeted immigrant workers and have been successful in filling skill gaps in their organizations. Governments at both the provincial and federal level have created specific programs to help companies in this endeavor.
Out of the Box Approaches
Most companies and organizations are beginning to pay more attention to transferrable skills particularly at senior levels. In other words, employers are looking beyond candidates with specific industry skills to those in other industries and apply them to the new employers industry.
Leading organizations are making more efforts to keep in touch with the potential talent in the same way as they do with their customers. Alumni are kept in contact through newsletters, email blasts and formal social events. Candidates who had participated in search assignments and were not yet successful and still considered to be good potentials and are sent newsletters and emails about future opportunities. Every effort is made to keep in touch with potential talent and to fill the candidate pipeline for the future.
A Focus on Executive Orientation
While everyone is aware of the importance of the first ninety days of a new executive’s life, very little attention has been paid to assist these individuals in their transition. Leading organizations have begun offering professional coaching for the new executive to assist them in developing a positive relationship with the new employer and develop their new team and set first year objectives that will ensure the organization moves forward.
About the author:
GSI Executive Search is one of Asia Pacific’s leading search firms. We’re executive headhunters to match clients’ demands with management talent locally & regionally.