Talent value management

Citation

Joerres, J. (2007), "Talent value management", Human Resource Management International Digest, Vol. 15 No. 6. https://doi.org/10.1108/hrmid.2007.04415fad.012

Talent value management

Talent value management

Joerres J., TurcqD. Industrial Management (USA), March/April 2007, Vol. 49 No. 2, Start page: 8, No. of pages: 6

Purpose – To advise companies both how to minimize risks of talent shortages, and maximize the contribution of talented people. Design/methodology/approach – Cites surveys forecasting global and US shortages of engineers and technicians, believes that most companies do not know which talents are needed for success, and lays out a strategic approach to managing talent that requires defining roles to be performed, segmenting roles according to how critical they are, managing who will be in what role, and identifying/differentiating commonalities and specifics across the segmented roles. Depicts a talent value management model for categorizing roles into four segments of ambassadors, creators, drivers and craft-masters, gives definitions and examples of roles in each segment, e.g. classes a fashion designer as a creator, and explains that each segment requires management of talent-demand and -supply, and optimization of both to ensure the right people are in the right jobs. Describes how to conduct a talent value analysis, warns that organizational rules and procedures can be an obstacle to segmentation, recommends understanding individuals, and their preferences, networks, past experience and interests, to ensure they are in the role that maximizes use of their knowledge/experience, divides the organizational labor marketplace into three categories of talent, knowledge and network, and contends that these marketplaces will grow in importance, cut across organizational silos, and require knew ways of human resource management. Originality/value – Recommends strategic, rather than tactical, management of people with scarce skills.ISSN: 0019-8471Reference: 36AL374

Keywords: Skills shortages, Skilled workers, Human resource management, Recruitment, Retention