In today’s competitive market it is important that any organization has the correct strategy for getting the best people. But not only the best, but ensures that they are in the right role, doing the right thing. This is where Talent Management plays its part.
So what is meant by ‘Talent Management’? Through the research by Steven Hankin, of the consulting firm McKinsey and Company. Inc., in 1997, coining the phrase ‘war for talent’ in his work, and with a subsequent book by Ed Michaels, et al, of the same name, it has been established that the key components of a typical talent management process is to:
- Identify
- Develop
- Retain
These three key tenets form the basic framework for any talent management process and, like all models and theories, have been further adapted over the years to include ‘engagement’ and ‘mobilisation’, amongst others.
However, I believe that there is an extra dimension to this: 'Sustain'.
'Sustain' is future focused, whereas 'Retain' is more about satisfying the present situation.
For organizations it not just about 'retaining' the talent, which is primarily geared around satisfying the present situation, but more about 'sustaining' the talent which is future focused.
In some respects the very word 'retain' is in itself a very negative word; conjuring up in the mind a number of pre-set conditions, bound employee loyalty, enticement to remain through extrinsic motivators, etc.
I know from many years experience, both internally within organizations, as well as external in my consultancy role, that 'retain' in the talent model was the part that would make people twitch or wince. Primarily because the general mind-set was a 'so how much money do we need to throw at them' attitude, as retention was always seen as the 'golden handcuffs' approach. This in turn is always questioned by those looking after the finances, 'What! We need to pay them that much!' Which was always countered by 'Well, if we don't - we lose them..'
I understand that this is a slightly distorted view, and most organizations approach to retaining the talent does not just involve the extrinsic financial motivators, as some organizations are good at the intrinsic motivators (or combination of both). But most organizations I've either worked with or dealt with spend little time on this aspect or are not creative in this area purely because they see this as a 'locking down' of the talent and once done - it's done. This is in part due to the model itself, with 'retain' seen as the last part of the process.
However, you shouldn't just stop at the end of the process and think that this will suffice. People are not like that, and organizations should not be like that.
Therefore, to cancel the problem of retention being seen as the final part, a continuum needs to be added to the model which is 'sustain', by applying the principle of sustainability.
Sustainability is the key to any organizations' ability to survive and, more importantly, to grow. Sustainability is about continuing to maintain something to ensure its survivability or longevity. In the true sense of the word if an activity is said to be sustainable, it should be able to continue indefinitely. Whilst we obviously realize that individuals don't live indefinitely, the philosophy and mindset of sustainability should increase the chances of the organization developing ways for the talent to remain (rather than be retained).
Sustainability in the talent model should be seen as on-going activity, being future focused, ensuring that the business, and the people within it, are growing with the organization and not just because of it.
Note about the Author
John Smart is the Director of PMR Training and Development Ltd; he conducts courses internationally in Leadership, Management, Talent and Performance Management, Customer Leadership, Coaching, as well as consults on OD/Development Strategy to many organizations. He is also the author of 'PROUD - Achieving Customer Service Excellence.', and delivers course in the 'PROUD Principle', aligned to excellent customer service.
He runs courses on the topic in this blog, 'Strategic Talent Management and the Importance of Talent Sustainability'.
For more details please visit the company website: www.pmrtraining.co.uk
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