Modern Talent Challenges

 

https://www.forbes.com/sites/esade/2022/01/10/the-15-big-challenges-facing-talent-management-in-2022/?sh=7c4366c35d60

One of the most important things that talent management does is attract brilliant people to your business and help them develop their talents. Simply filling a post with qualified candidates is insufficient. The goal of talent management is to identify the best candidate for the position and ensure that this candidate can eventually contribute to the organisation as a valuable asset. The purpose of talent management may be hampered by certain challenges. The management team's primary task also involves controlling these challenges. Many of these problems affect all organisations. Those are listed below.

Accepting new interests

Younger recruits' evolving natures, wants, and behaviours, particularly those of "digital natives," are driving some of that re-imagining. Many of the "talented" members of this more recent batch will be the ones we are talking about. Technology is how they naturally interact with the world.

On the other hand, 'baby boomers' make up a large portion of senior leaders in organisations. With regard to technology and contemporary communication tools like blogs, webinars, tweets, and texting, these two generations often have very different perspectives. Many of the under-30s who make up the market's "talent pool" want to work for a company that reflects their feelings, thoughts, behaviours, and appearance. They anticipate having rewarding jobs that are difficult, fascinating, and valued.

The senior leadership frequently thinks that paying them (relatively) adequately and providing them with holidays and a few benefits is sufficient. If talent is to come and stay, there is a fundamental mismatch in expectations that must be addressed.(babington,2022)

High Potential Talent Recognition

It's simple to evaluate and comprehend excellent performance. Finding and comprehending the potential is really challenging. It is subject to interpretation, subjectivity, and even bias. The first phase in the conventional talent management process is typically the identification of high-potential talent. It includes assessment centres, leadership interviews, prior performance information, psychometric exams, and more. Each of them poses a unique set of difficulties, adding to the complexity of the whole situation.

 

Retention

Organisations must research the market to identify best practises to increase retention of high-potential personnel and remain one step ahead of the market to avoid financial loss.

 

Leadership Development

Finding talent is only the beginning of the process. It might be difficult to manage talent through effective leadership development activities. This is due to the fact that it can be difficult to determine how much money to invest, what interventions would truly provide positive business benefits, and whether an employee will continue to work for the company after receiving such dedication to their leadership development.(Juneja , no date)

Making an ethically talented culture

There are still additional opportunities and difficulties for talent management, including establishing ethical standards, raising transparency, simplifying processes, and creating a culture of recognition and appreciation.

Training and Talent Development

The economic slump also made organisations more aware of innovative employment patterns, such as part-time or temporary workers. This presents a fresh challenge for personnel management, training, and development of contract or project-based employees. The problem of raising these people's commitment to their employment is much greater.(Juneja, no date)

Encouraging passion

Talented people want to work for a company in an environment that aligns with their beliefs, attitudes, and expectations. The majority of organisations and top leaders are ill-equipped to satisfy their demands and goals.

 According to Babington, (2022) commentators, particularly Philp Whiteley and Neela Betteridge in their influential book "New Normal: A Radical Shift" and more recently Vlatka Hupic in her seminal book "The Management Shift," feel that conventional business models, which are founded on economists' conceptions of what business is for, need a radical re-imagination to deal with a very different and rapidly changing world.

 

The aforementioned difficulties persist despite all research and effort put forward. Organisations are constantly looking for solutions to mitigate them since their severity or scope is constant.

References:

Juneja, P. (no date) Talent management. Current trends in talent management (online) Management study guide. Available at https://www.managementstudyguide.com/talent-management-opportunities-and-challanges.htm. Accessed on 19th April 2023.

babington. (2022) 6 Challenges of talent management. (online) Birmingham. Available at https://babington.co.uk/insights/help-guidance/6-challenges-of-talent-management/. Accessed on 19th April 2023.

Talentedge. (no date) Talent management challenges that all organizations face. (online) Available at https://talentedge.com/articles/talent-management-challenges-organizations-face/. Accessed on 19th April 2023.

InStride. (2022) Top talent challenges organisations are facing in 2022. (online). Available at https://www.instride.com/insights/challenges-of-talent-management/. Accessed on 19th April 2023.