Because of the global struggle to develop effective leaders, there is and will be competition for talent in the future. Contracting businesses are lacking in qualified internal candidates that could assist them in managing future multimillion-pound contracts. A company that requires game changers to stay ahead of the competition will require a talent pipeline in the future. Leadership development is a critical worry for the talent pipeline's future. Leadership awareness and growth have received less attention. Companies, on the other hand, have recognized their error and are now assuming vital roles (Greenberg and Sweeney 58). Although promoting from inside saves money, CEOs have yet to find their next leaders. Human Resource Managers have failed to develop talents within the organization. Building internal talent pipelines are frustrating and lengthy. The competition for talent internally and externally will cause companies to hide their best practices.
The first core principle of building a talent pipeline is that it should begin with a business strategy. The talent pipelines should be created to support a company’s business strategy. The second principle is to ensure it hires for now and the future (Greenberg and Sweeney 58). A company should work for its current and future potential talent needs. It is important to note that business changes affect talent. The third principle is addressing talent management as core business process because it impacts the overall financial success of an organization. It is also important to ensure that the talent management is within the company culture. The fifth principle is to measure it and test its capacity to make a difference. Understanding the effect of the talent pipeline now and in the future creates the sustainability. After testing it, managers should consider the principle of identifying developing and testing high performing talent. The final principle is addressing skill gaps through aggressive internal development.
Organizations need to align their talent pipelines to talent management to ensure sustainable talent pipelines. Alignment should exist between the talent brand and organizational brand. Aligning these two functions helps to establish credibility that is necessary for a healthy productive relationship. Another critical alignment is between the talent brand and the development and the selection process in the organization; this ensures that employees concerned with staffing, development, and training understand the desired talent brands in the business. Aligning talent pipelines with talent management creates consistency in development tools and programs (Greenberg and Sweeney 55).
In conclusion, talent identification is will continue to affect companies in the competitive market. Firms should spend time and money in identifying internal and external candidates that help meet the business strategies. A good talent pipeline should be effective and in line with the culture of the organization.
Works Cited
Greenberg, Herb, and Patrick Sweeney. "Invest in your best." T+ D, vol. 64, no.7, 2010, pp. 56-59.
