The Talent on Demand Approach
Talent management is the process through which employers anticipate and meet their needs for human capital. Getting the right people with the right skills into the right jobs—a common definition of talent management—is the basic people management challenge in any organization. While talent management often focuses on managerial and executive positions, the issues involved apply to all jobs that are hard to fill.
Failures in talent management may be more recognizable than the concept itself. Those failures include mismatches between supply and demand: on the one hand, having too many employees, leading to layoffs and restructurings, and on the other hand, having too little talent or not being able to find the skills that are needed. These mismatches are among the biggest challenges that employers face. Over the past generation, many employers have lurched from surpluses of talent to shortfalls and back again. Something is wrong with this picture.