The ‘War for Talent’ is going to intensify further in 2012 and the demand for quality talent will remain to be high. Hence, organizations would need to be proactive in mapping their internal talent pool vis-à-vis the external talent pool for the key leadership roles in the business so as to ensure that they “get the best people on board” for these roles.
Accordingly, talent management will be all pervasive and will need to be an integral part of the overall business strategy. It will also be largely automated to enable focus on strategic issues rather than transactional/operational issues. Talent management will also be spanned across all levels of the organization (right from management trainees to the CEO).
It will be essential for organizations to not only deal with the “stars” but also with their valued “solid citizens”. Solid citizens are the majority of the company’s employees who are not top performers but are those B players who are steady workers and hence contribute greatly to the overall business. Companies will have to reward, motivate and engage these ‘solid citizens’ in the near future.
In order to build a performance oriented culture, companies will have to effectively address poor performance while making concerted attempts to reward high performance.
While retention of talent shall always be important, we may not have ‘Cradle to Grave’ scenarios in the future. Hence, while we do make sincere attempts to engage our good talent, retention of ‘Know-How’ or ‘Intellectual Capital’ shall also be of paramount importance in survival and growth of the business.