Most organizations are aware that talent management can be a valuable strategy in maximizing business performance and ensuring business continuity. This concept of managing talent, however, is not new. But theviews as to who is responsible for managing talent and how is it getting accomplished are evolving.
In the past, initiatives and programs related to talent were viewed asthe primary responsibility of the HR department. In today’s intensely competitive and complex economy, organizations cannot take access totalent for granted. Forces (such as globalization and demographic shifts)have caused many markets to experience an acute shortage of talent andcritical skills areas. Such forces threaten an organization’s ability to attractand retain the talent needed to meet business demands.