What talent management entails and why it is crucial for business growth and sustainability
Talent is defined as the innate abilities and dexterities within a human or institutional set up. It encompasses the totality of skills, abilities, and capabilities of an individual within the framework of an organisation. Therefore, it is essential for organizations to have human talents who would function in enabling organisations to organise, deploy, execute, formulate, and carry out duties.
Appropriate, useful and relevant talent is required to facilitate the execution of processes within the organisation to achieve its goals and vision.
How has talent management strategies in Nigeria evolved over the past decade, particularly after COVID-19?
Covid was a global phenomenon whereby Nigeria was less affected, as compared to many other countries in the world. Thus, COVID brought a lot of innovations and shifts in the way businesses are conducted. It also brought about the deployment of relevant technologies to enable hybrid work to happen.
The deployment of these relevant technologies following COVID-19 has facilitated the transition to hybrid work. The availability of these tools has impacted and enabled the organisation’s processes and empowered today’s work environment in small, medium and large organisations.
Examples of companies that have implemented innovative talent management strategies
Large and small organisations, including those in Information and Communications Technology (ICT) and Financial Technology (FINTECH), have adopted talent management practices.
Innovation abounds and thrives across the spectrum, giving each organization a unique approach that provides a competitive edge within the business landscape.
Organisations are now putting on their thinking caps and trying to review the way they’ve done things in the past by bringing up new ideas to fill in the gaps and bring about alignment to ensure processes and standards are raised and business expectations are met in a rapidly changing business environment.
What is the impact of continuous learning and development on employee performance and organisational growth?
Organisations must identify their talent needs and integrate them into the company. Then the talents should be trained, developed, polished, standardised and upgraded to align with the organisation’s framework.
Learning and development are essential beyond natural talent, especially with technological advancements, to remain competitive and relevant in business. No matter how talented an individual is, they are required to be trained amidst the rapidly changing environment in business, brought on by technology and global shifts, to stay relevant and upgraded. This then highlights the need to continuously train and develop talent so that they can consistently deliver consistent business results.
What future trends do you foresee in talent management and how can businesses prepare for them?
Some futuristic literature suggests that the ICT revolution will soon be at a peak and will eventually be succeeded by advancements in biotechnology in the global space.
Even though predicting the future might be quite difficult, Artificial Intelligence (AI) is the mimicking of human attributes and capabilities by machines, applied to the world of work. If this represents an early wave of the future that is to come, businesses will not be able to rely solely on ICT, as ICT may no longer be as competitive as it has been to this point because the new work environment will evolve due to new drivers in response to and because of all these changes playing out in the business environment.
The world of work is constantly evolving, as evidenced by AI that emulates human characteristics. Therefore, Organisations need to adapt in response to these changes in the work environment, to thrive in business.
“This thought leadership piece is culled from the CIPM radio programme, ‘The Office.’ The opinions expressed in this article are solely those of the Guests and do not represent the views of CIPM.”
