Don’t lose your top talent to the competition

Talent management is rapidly becoming a top strategic issue for HR, and it’s an area where the profession can really make a difference.

Rather than an add-on to the day job, it is becoming more common to see ‘talent managers’ within an organisation.

Not having a talent management strategy can prove ridiculously expensive in terms of time and recruitment costs.

If a line manager’s natural reaction is to advertise a job vacancy when it arises, then this is often not the best use of resources.

Doubts have been raised recently over the effectiveness of traditional recruitment methods, so it is questionable whether an external candidate that you’ve interviewed for an hour will be more successful and loyal in post than someone you’ve groomed from within.

How to tackle these challenges – with examples of how blue-chip organisations have done it – is the theme of our special talent management features section this week.

We couldn’t resist using the football analogy, so we have compared several football scenarios with the challenges that HR faces in creating and managing world-class squads at work.

Just remember to do something with all the talent you develop at all levels of the organisation by putting internal candidates forward for plum roles. Losing them to the competition really would be an own goal.

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