What is your modern definition of talent

Talent management

1. term: This means internally and externally directed strategies, methods and measures with which a company ensures that the key positions critical to business success are filled with the right employees: goal-oriented action in order to discover, win, develop, and develop talent promote, optimally position and bind to the company.

2. Characteristics of successful talent management: (1) Talent management must be developed specifically for the company and is to be determined organization-specifically. It depends on the type of products or services and the type of tasks. Furthermore, it is to be understood dynamically, i.e. the concept of talent adapts to changed organizational priorities. The consequences for successful talent management are:
1. Every company has to define for itself what the term talent includes and means in its context.
2. Determining what makes a talent is a critical starting point for developing a talent management strategy.
(2) The maturity level of talent management grows with the contribution to the implementation of the corporate strategy:
Maturity level 1: Talent management focuses on managing talent pools, including succession planning and career development.
Maturity level 2: Talent management includes the bundling of typical personnel management functions that are to be carried out across the entire company for specific target groups.
Maturity level 3: Talent management is focused on strategic alignment, talent management measures are planned, implemented and evaluated with regard to their specific strategic contributions to corporate management.
(3) Talent Management comprises the five areas of Intelligence, Marketing, Development, Systems & Processes and Acquisition & Assessment.

3. Special requirements: Talent management should use strategic considerations to clarify which talents the company needs. It is then important for a company to make transparent what is understood by talent and which criteria are used for nomination. Competence-oriented assessment instruments should also be implemented to identify talents and high potentials. A company-wide database for competence and talent management helps to support talent management. It is also important to develop and implement measures for individualized and diverse talent promotion. Talent management should also be measurable - for this it is good if a company has a strategically oriented key figure system for evaluating and controlling talent management. Ultimately, with regard to employer branding and corporate identity, talent management also needs to develop a target group or talent-oriented strategy for communicating an authentic and unmistakable employer brand.

4. Expressions: A successful talent management process should link external and internal activities and understand that the individual elements are equally important. Externally there are two steps involved, first and foremost about the target groups in the labor market. Strategic functions have to be defined and the brand image used. Strategic personnel management and employer branding play a major role here. The second external step then involves identifying talent, i.e. talent relationship management or active sourcing concepts. Internally, the talent management process continues with the recruitment and hiring of employees. Potential analyzes and other forms of talent reviews are pending here. The internal talent identification builds on this. This includes talent review as well as appraisals, career paths and career planning. Here and in the third step, talent promotion and successor nominations, it is particularly about high potentials. In addition to an internal talent market, you can implement mentoring, coaching, succession planning, training, stretch jobs and job rotation here. The successor candidate area is the last step with filling key positions and retaining top staff. The binding factors here include, for example, remuneration, networking in the company, employee profiles and lists of experts.