As published in the Winnipeg Sun. Success in today’s marketplace and certainly that of the future will require that every organization ensures talent management is not just a “nice to have” add-on or the sole responsibility of an HR department. Instead, talent management must be seen as a core business strategy. A key reason for this strategic approach is the fact that CEOs have finally realized that if people are the competitive backbone of a company, then a more formal approach at the executive and strategic levels must be developed to ensure the right people are in the right jobs at the right time.

The issue of talent management is also becoming all the more important since it is anticipated that baby boomers will soon begin retiring in larger numbers. In fact, some organizations are already facing the potential of 30-50% of their workforce being eligible for retirement in the next three years. Talent management is thus not something that can wait; action must be taken “right now”!

At the same time, what does this action look like? Some of the strategies being applied across the continent in the area of talent management include the following:

A broader search range – organizations are beginning to look at candidates beyond their own geographic regions, including seeking out candidates in other countries. There are already many local employers who have targeted immigrant workers and have been successful in filling skill gaps in their organizations. Governments at both the provincial and federal levels have created specific programs to help companies in this endeavour.

Increased use of search professionals – the process of searching and identifying candidates in a global marketplace is often beyond the skills of in-house personnel, and also requires more time and energy than possible for most people in these positions. Today’s search professionals have increased their ability to market opportunities beyond traditional local geographic regions and, through a combination of print advertising and modern technology, they can more quickly search out the most qualified candidates.

Out-of-the-box approaches – many companies and organizations alike are beginning to pay more attention to “transferable skills”, particularly at senior levels. In other words, employers are looking beyond candidates with industry specific skills to those in other industry sectors. This approach is perceived to provide opportunities to take lessons learned in other industries, especially best practice, and apply them to the new employer’s industry.

Stronger focus on soft skills - research on “executive derailers” has proven time and time again that CEOs and executive level professionals fail more frequently because of a lack of “soft skills”. This includes the ability to manage and organize wide change and to communicate effectively with people at all levels of the organization as well as with key stakeholders in the local community. Problem solving, decisiveness, political acumen, relationship management and good judgement are also important soft skills that many CEOs tend to lack.

A focus on executive orientation – while everyone is well aware of the importance of the first 90 days of a new executive’s life, very little attention has been paid to assisting these individuals in their transition. Leading organizations have begun offering professional coaching for the new executive to assist them to develop a positive relationship with their new employer, develop their new team and set first year goals that will ensure the organization moves forward.

Relationship management – leading edge organizations are making more of an effort to keep in touch with their potential talent in similar ways as they do with their customers. Alumni are kept in contact through newsletters, email blasts and formal social events. Candidates who had participated in search assignments yet were not successful are still continued to be good potentials and are also sent newsletters and emails about future opportunities. Every effort is made to stay in contact with potential talent and to fill the candidate pipeline for the future.

Talent management needs to be a high priority for every organization whether they are a private sector corporation or a not-for-profit that serves the needs of the community. Taking every step to ensure the right people are in the right jobs at the right time needs to be part of every organization’s core strategy, not just an additional responsibility of their HR department.