Talent management is a bit of a misnomer really. How can we ever presume to manage someone else's talent. When we talk about talent management, what is generally understood is that we are referring to  an organizations ability to attract, retain, and develop individuals who will continue to add value to the organization as a whole. In short, talent management is about improving employee/staff engagement. An engaged employee/staff member is more involved, enjoys work, and is more committed to the overall interests of the organization.  

If we can identify both the drivers of, as well as the barriers to, employee/staff engagement, then leaders can start to play a pivotal role in creating the kind of work environment that produces the environment for "talent management."

21st century organizations are grappling with the need for greater management accountability, fair and ethical performance management, and higher quality feedback and coaching. Followers and staff members are looking for greater flexibility, clarity on line of sight and how what they do as individuals really does contribute to the overall organizational objectives, and for organizational leaders to take the issues around diversity in the work place seriously. 

Followers/employees and staff members also expect that organizational leaders will remove the barriers to engagement such as a lack of role models, no formalized mentoring and coaching, and limited career opportunities- particularly for women in the workplace. 

One of the mechanisms that can assist in breaking down some of these barriers is a competency framework. By developing an agreed set of organizational values and core and functional competencies, organizational  leaders will be placed in a much stronger position when it comes to (a) recruitment and selection, (b) performance management, and (c) learning and development.

There is more than enough evidence to indicate that companies and organizations that are committed to the implementation a of a workable talent management process and framework see higher revenue per employee, lower turnover rates, and an exponentially greater ability to keep high potential individuals engaged. The question then that needs to be grappled with is, "Do we have a workable talent management plan?" If the answer is yes, how doable is that plan? If the answer is no, then you might want to consider collaborating with talent management specialists who are committed to helping organizations, and the individuals and teams in those organizations, to develop what is undoubtedly one of the most crucial pillars for organizational success.