Are you simply admiring what’s left of your talent pool, or are you taking bold steps to shape its future? In a business world that’s evolving faster than ever, talent management must evolve with it.
As I navigate a transformation within my own organisation, one thing stands out: the old ways of attracting and retaining talent are no longer enough. To stay ahead, we need to rethink how we develop and nurture the people who will drive our success tomorrow.
A Gartner study reveals that 74% of CEOs are concerned about the availability of key skills, which can significantly impede innovation and growth within their organisations. This statistic underscores a crucial challenge: the need for CEOs to actively reframe and revitalise their talent strategies to stay competitive in a rapidly changing business environment.
It’s time to embrace a new paradigm: viewing our organisation as a masterpiece, woven from the diverse talents and capabilities of our workforce.
Gone are the days of chasing so-called “high potential” individuals without questioning whether they truly align with our future direction. The time has come to reexamine how we develop skills, ensuring they are not just relevant for today, but also for the roles and challenges of tomorrow.
Here are a few insights I would like to share.
1. Rethink talent management: Today’s managers and business leaders need to realise that talent management is a strategic priority. When you lose employees you are losing not only tools, but you are losing someone who can be the pillar of your company’s growth.
Talent is not static. It’s dynamic, evolving and integral to propelling our organisations towards strategic objectives. It’s time to view talent as unique puzzle pieces, each with its own strengths and skills.
2. Think about the future: Your talent strategy should be contextualised in line with the future capabilities required for your organisation’s strategic objectives. This is because the environment is characterised by constant technological and market evolution, and therefore the skills that will be important in the future may not be essential today. According to the World Economic Forum’s report, 50% of global employees will require some sort of upskilling by 2025.
To create a talent management approach that is responsive for the future, executives should focus on people who are ready to transform, innovate and envision. It requires leaders to look beyond the current performance and try and come up with better personnel if markets experience some kind of disruption.
3. Commit to the process: Talent management is a journey, spanning the entire employee life cycle. It should be closely linked to the company’s broader business strategy. Continuously rebuild and refine your organisational puzzle, integrating new pieces while fostering a culture of continuous learning and innovation.
4. Educate leaders: To this end, talent management cannot be solely left to the responsibility of the HR department, but leaders should have an active participation. Leaders must embrace their role as talent architects, aligning diverse talents with future strategic objectives. This demands a cultural shift that encourages learning, innovation, and psychological safety.
Senior leaders must reimagine talent management, moving beyond traditional metrics to identify and nurture qualities that drive innovation and success. The blueprint for a successful talent strategy lies within our grasp — seize the opportunity to shape your organisation’s future talent destiny.
Arinya Talerngsri is Managing Director of BTS Thailand (formerly SEAC), part of the BTS Group, a leading global strategy implementation firm. She is passionate about revolutionising education and creating opportunities for Thais and people worldwide. Executives and organisations looking to collaborate or learn more about leadership development, talent development, succession planning and organisational transformation can contact her directly at arinya_t@seasiacenter.com or visit her LinkedIn profile