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Talent Leadership vs. Talent Management?
I just finished being interviewed by Dave Summers, the host of AMA Edgewise, about my new book, Talent Leadership: A Proven Method for Identifying and Developing High-Potential Employees. I will make the entire audio file available in the next few weeks. Dave asked me a number of excellent questions, but I wanted to address his first question as part of my blog post. Dave asked me, “What is the difference between Talent Leadership and Talent Management”?
In today’s challenging economy, leaders at all levels are facing enormous challenges when it comes to achieving and sustaining breakthrough operating results. Globalization, economic change, more stringent regulation, and tougher governance make realizing shareholder value increasingly difficult. But there is another challenge: In a breakthrough executive trends global research study I conducted with my colleague, Bonnie Hagemann, which was published by Pearson in 2011, we clearly confirmed that identifying and developing high-potential and emerging leaders is and will continue to be one of the top business issues facing CEOs; 40 to 70 percent of all executives in most organizations will become eligible for retirement in the next five years.
In our increasingly knowledge-driven world economy, organizations are right to fear this imminent brain drain, suspecting that, when executives leave the firm, business may follow. Yet high-potentials and emerging leaders—those most likely to rise to fill those highest positions—account for less than 8 to 10 percent of the talent pool. That’s in the United States. In other countries, like Canada, Australia, the United Kingdom, Japan, and China, and in just about every country except India and various countries in Africa and South America, this issue is as pronounced as it is in the United States, if not more so. Therefore, identifying, developing, and retaining such rare talent truly is a mission-critical global challenge for CEOs, senior executives, managers, and HR directors.
Given this indisputable global business challenge, the implication for current and emerging leaders is clear: the demand for outstanding leaders will soon surpass the current supply and therefore if you are a current leader or emerging leader there will be massive opportunities for you to seize if you are poised and ready. Regardless of your own desire to ascend up the ladder, one thing is certain: all organizations will be asking more of their leaders with expectations, demands, and pressure increasing not decreasing. The demand for truly outstanding leaders has never been higher and organizations are “raising the bar” as they must in order to compete successfully on the global stage.
There are a few outstanding Talent Management books out there. Most focus on strengthening an organization’s talent management “nuts and bolts”. Talent Leadership: A Proven Method for Identifying and Developing Future Leaders while also focusing on the “nuts and bolts,” addresses the issues I have discussed in this blog “head on”. This book is geared for leaders of human resources and talent management as well as CEO’s and senior operating executives as many of the ideas and concepts will help all organizations mitigate their operating risk going forward and help them achieve stronger operating results. Along the way, as a means to achieving breakthrough results, leaders and future leaders become stronger, more vibrant, effective professionals, leaders and people.