TM/HRPosted: July 24, 2014
Over a period of time, the concept of Talent Management has become a hot topic in HR circles, and many people are talking about the idea. However, I dont quite know any two sources which give the same definition of Talent Management. A number of things I have read include:
- Talent Management is strategic while HR is transactional
- Talent Management is about retaining high-flyers while HR is for lesser mortals
- Talent Management is about managing skills while HR is about managing the policies related to people
- Talent Management is old wine in new bottles
- Its a term coined by clever management consultants to make a quick buck (no I havent read that but thats always a pet theory of quite a few people, isnt it?)
Are these true? I dont quite think so. To some extent, I feel Talent Management is the natural progression from the HR philosophy. Essentially, I feel the difference between HR and TM are more to do with how the organization looks at its main asset … people! In the earlier, HR world, people were one of the factors of production, and of creating value for the organization in a sort of undistinguished way, somewhat (though this is not exactly an accurate parallel, but just to create an illustration) like one machine is interchangeable with another machine, and none the wiser.
TM is based on the understanding that each individual is a distinct one, and each one has a distinct personality, a particular set of talents and skills, aspirations and potential which is unique to each one, and so, need to be treated iondividually. This means that the growth needs, based on their aspirations, would be different for different people, which means that development plans, both in terms of skills development and individual growth in the organization need to be tailored to the individual needs of the particular person. And this, I feel, is the primary difference between TM and HR.