from the Turning Good People Into Top Talent blog series
By Bob Moore, CMC
Most business leaders recognize that the role of HR is becoming increasingly complex. In addition to the traditional administrative tasks, HR can include workforce planning and strategy, recruiting, onboarding, employee training and development, plus reporting and analytics.
Many organizations are dropping the term HR in favor of HCM, “human capital management” to reflect a shift to a strategic, leadership-oriented department. According to Gartner, an information technology research and advisory firm, HCM is a “set of practices related to people resource management,” specifically in the categories of workforce acquisition, management and optimization.
At the Talent Management Institute, we advocate a Total Talent Management System™ that includes ten specific elements and much more than simply changing the name of the department. As with HCM, the key is to treat employees, your talent, like a true investment. The challenge is to recognize that talent means people and much more than big data.
However, some companies are so focused on hiring new people that they end up ignoring the ones they already have. Low levels of employee engagement and high turnover rates are major concerns for most CEOs today. The Total Talent Management System™ addresses the fact that improving employee engagement and retention must extend well beyond the recruiting and onboarding processes.
The Total Talent Management System™ considers everyone as talent and not just the top performers. Regardless of the name of the department, the focus must be on discovering and developing the individual employee’s capacity and potential. This requires a long-term, strategic view that many current HR departments are not equipped to accomplish. Hopefully, it will take another economic crisis for CEOs to shift their focus on their talent, their most valuable asset.
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Bob
Bob Moore, CMC
Managing Principal