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Page 36	                                                                www.barbadostoday.bb	                                                                                   11/07/12




What is talent management?
   Global Expert Systems is preparing to host the                 calls for decentralisation from the HR department and
First Caribbean & Latin American Conference on                    this is where the real debate begins. Who is best poised           Attracting and retaining the most profitable and valuable
Talent Management in Barbados on September                        to determine the needs of the organisation? Have our HR        employees on the market is extremely competitive and
25 and Trinidad on September 26 with a number                     departments become too distant from the everyday realities     firms often try to out-bid each other to attract the
of dynamic international speakers. Starting today,                and needs of our organisations? Is the best talent already     brightest, best and most effective staff for available posts.
and continuing for the next few weeks we will                     residing within the organisation? What are the hindrances to   So there are both in-house talent management strategies
publish a number of articles to build interest in the             moving talent around? How do we hire the right persons, or     as well as those companies who prefer to outsource their
event. Following is the first instalment. Also on this            more importantly, who are these right persons?                 talent management to third parties.
page is a link that will allow you to download a
registration form for the event.
                                                                  Is talent management the                                                    Nonetheless, whether we choose to
                                                                                                                                 outsource this function or not, before the hiring

                                                                  same as headhunting?                                                process commences, it is critical that this is
                                                                                                                                   preceded by a planning phase, as suggested in
                                                                                                                                  the figure above. After hiring, we then need to
                                                                     The answer to this question is no! Headhunting is only      continually develop our talent in order to retain
                                                                  a part of the talent management process. There are many                    it aligned to our corporate strategy.
   by Global Expert Systems                                       consulting models or frameworks within which a talent
                                                                  management system can be thought of and implemented.               In closing, it is clearly evident that talent management
Let’s define Talent                                               However, most models will include some semblance of the
                                                                  below figure.
                                                                                                                                 is a useful strategy during times of economic recession
                                                                                                                                 and hardship. Unfortunately, many companies only employ

Management                                                                                                                       these strategies during times of plenty. But as organisations
                                                                                                                                                                   seek to become more lean
                                                                                                                                                                    and more efficient, hiring and
    Talent Management takes on different meanings                                                                                                                   retaining the right employees
according to the industry or sector of which we speak. Most                                                                                                         will become a pivotal function
persons are familiar with the term, Talent Management,                                                                                                              of corporate strategy.
in the field of the arts and entertainment where the word
“talent” is widely used in an obvious context. But can this                                                                                                             Companies should
term be applied to the world of business, and if so, what                                                                                                              therefore engage in
does it mean for the corporate sector?                                                                                                                              a talent management
    It is said that the term Talent Management was coined in                                                                                                       system that suits their
1998 in an article published by David Watkins of Softscape;                                                                                                          organisational needs,
               however the practice pre-dated the term, and                                                                                                          as this assists greatly
               was in existence since the 1970s. In a nutshell,                                                                                                          in optimising the
               talent management is really more akin to                                                                                                              performance of each
               Corporate Strategy as it relates to the human                                                                                                          employee and in the
               capital of an organisation.                                                                                                                       long run, the company in
                                                                                                                                                                                    general.
                  Let’s think of the talent manager
                   as a grandmaster of chess in the                                                                                                               Next week we will look at
                  organisation looking down at the                                                                                                            topic, Can we implement
            board and deciding, strategically, what                                                                                                           talent management in our
            are the next moves or the best moves.
FOCUS




                                                                                                                                                              Public Sector?”
              And when we speak of the corporate                                                                                                                 • Visit Global Expert
            sector we draw no distinction between                                                                                                             Systems online at http://www.
                 the public and public sectors since                                                                                                         globalexpertsystems.org/index.
                 they are so intricately interwoven                                                                                                          php/event/first-caribbean-latin-
                        within the Caribbean space.                                                                                                          american-conference-on-talent-
                                                                                                                                                             management/ or email us at info@
                  Therefore, the management of our human             Figure 1. Talent Management process                                                     globalexpertsystems.org
              capital, aka, talent management, is about hiring
              the right persons from the onset, placing them
              in the right positions, doing what is necessary
              to keep them, motivate them and retain them
so that there is a mutually beneficial relationship that
guarantees the growth of both the organisation and the
worker.
    As our organisations mature and become more
sophisticated in an effort to compete globally, there are now
specialised departments, companies and consultants who
work around the clock to guarantee that the firms they
represent are staffed by the correct personnel in every area
of the organisation.
    Just to have an idea, these consultants earn very decent
salaries, due to the essential and valuable nature of their
duties. Trusted human resources website indeed.com
revealed that, currently, the average salary for professionals
within the area of talent management stands at US $86,000
per annum.


Hiring the right persons
   Typically, as companies engage in talent management
strategies, the responsibility of employees shifts from the
human resources department to managers throughout the
organisation. Now initially this is bound to create some
“territorial warfare” as our traditional HR departments have
grown to become the doyens of all things and matters of
managing human capital and resource.
   However, a more radical talent management approach

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What is Talent Management?

  • 1. Page 36 www.barbadostoday.bb 11/07/12 What is talent management? Global Expert Systems is preparing to host the calls for decentralisation from the HR department and First Caribbean & Latin American Conference on this is where the real debate begins. Who is best poised Attracting and retaining the most profitable and valuable Talent Management in Barbados on September to determine the needs of the organisation? Have our HR employees on the market is extremely competitive and 25 and Trinidad on September 26 with a number departments become too distant from the everyday realities firms often try to out-bid each other to attract the of dynamic international speakers. Starting today, and needs of our organisations? Is the best talent already brightest, best and most effective staff for available posts. and continuing for the next few weeks we will residing within the organisation? What are the hindrances to So there are both in-house talent management strategies publish a number of articles to build interest in the moving talent around? How do we hire the right persons, or as well as those companies who prefer to outsource their event. Following is the first instalment. Also on this more importantly, who are these right persons? talent management to third parties. page is a link that will allow you to download a registration form for the event. Is talent management the Nonetheless, whether we choose to outsource this function or not, before the hiring same as headhunting? process commences, it is critical that this is preceded by a planning phase, as suggested in the figure above. After hiring, we then need to The answer to this question is no! Headhunting is only continually develop our talent in order to retain a part of the talent management process. There are many it aligned to our corporate strategy. by Global Expert Systems consulting models or frameworks within which a talent management system can be thought of and implemented. In closing, it is clearly evident that talent management Let’s define Talent However, most models will include some semblance of the below figure. is a useful strategy during times of economic recession and hardship. Unfortunately, many companies only employ Management these strategies during times of plenty. But as organisations seek to become more lean and more efficient, hiring and Talent Management takes on different meanings retaining the right employees according to the industry or sector of which we speak. Most will become a pivotal function persons are familiar with the term, Talent Management, of corporate strategy. in the field of the arts and entertainment where the word “talent” is widely used in an obvious context. But can this Companies should term be applied to the world of business, and if so, what therefore engage in does it mean for the corporate sector? a talent management It is said that the term Talent Management was coined in system that suits their 1998 in an article published by David Watkins of Softscape; organisational needs, however the practice pre-dated the term, and as this assists greatly was in existence since the 1970s. In a nutshell, in optimising the talent management is really more akin to performance of each Corporate Strategy as it relates to the human employee and in the capital of an organisation. long run, the company in general. Let’s think of the talent manager as a grandmaster of chess in the Next week we will look at organisation looking down at the topic, Can we implement board and deciding, strategically, what talent management in our are the next moves or the best moves. FOCUS Public Sector?” And when we speak of the corporate • Visit Global Expert sector we draw no distinction between Systems online at http://www. the public and public sectors since globalexpertsystems.org/index. they are so intricately interwoven php/event/first-caribbean-latin- within the Caribbean space. american-conference-on-talent- management/ or email us at info@ Therefore, the management of our human Figure 1. Talent Management process globalexpertsystems.org capital, aka, talent management, is about hiring the right persons from the onset, placing them in the right positions, doing what is necessary to keep them, motivate them and retain them so that there is a mutually beneficial relationship that guarantees the growth of both the organisation and the worker. As our organisations mature and become more sophisticated in an effort to compete globally, there are now specialised departments, companies and consultants who work around the clock to guarantee that the firms they represent are staffed by the correct personnel in every area of the organisation. Just to have an idea, these consultants earn very decent salaries, due to the essential and valuable nature of their duties. Trusted human resources website indeed.com revealed that, currently, the average salary for professionals within the area of talent management stands at US $86,000 per annum. Hiring the right persons Typically, as companies engage in talent management strategies, the responsibility of employees shifts from the human resources department to managers throughout the organisation. Now initially this is bound to create some “territorial warfare” as our traditional HR departments have grown to become the doyens of all things and matters of managing human capital and resource. However, a more radical talent management approach