Most organizations know 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 the views as to who is responsible for managing talent and how it is 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 increasingly competitive and complex economy, organizations cannot take access totalent for granted. Forces (such as globalization and demographic shifts)have caused many organizations to become talent constrained due toshortages of headcount, managerial skills and critical technical skills. Such forces threaten an organization’s ability to grow and achieve itsbusiness targets.