With the advent of the year 2012, the need for an integrated Talent Management system will be vital for any organization, because the biggest challenge for most of the organizations will be to develop an integrated system to align people to their strategies, goals, and values. And this can be done through processes and technologies that enable the selection, recruitment, rewarding, and retention of top talent.
Considering the current scenario and the dearth of employable talent, the war for the right kind of talent is becoming more intense. Companies now have to tap prospective employees much earlier. In fact most the companies like ours have already tied up with skill development institutes to attract talent. They train them according to our requirements and then hand them over to us for absorption. The need of the hour to train prospective employees in order to avoid a situation where there is acute shortage of talent within the organization. Some of the companies have also planned to open retail schools and institutes to scale up recruits. Rather than waiting for ready talent, we have to pick up people from the job market and train them.
Apart from the challenge of acquiring the right talent, the biggest challenge which is prevalent today and which will continue to remain so, is the paucity of leaders to take up roles in the organization. Succession planning and working extensively on career paths is what would take an organization to the next level.