Is Talent Management Becoming a Make-or-Break Corporate Competency?

The July-August 2008 Issue of Harvard Business Review has a fascinating article – “Why Did We Ever Go Into HR?” In it, Matthew Breitfelder and Daisy Wademan Downling, two recent Harvard MBAs, explain why they think HR is “the next big thing”.

As an HR professional, it was exciting to read an article that actually explains what HR can bring to the table (and also debunks some stereotypical ideas about us). They talk about their respective choices to move into HR, and the rewards they experience. But mostly, they explain the invaluable talent management role that HR has to play in helping to guide, shape and develop a company’s workforce, and cultivate its leadership. They talk about using their business, networking, consulting, coaching and people skills in ways that go far beyond the administrative side of HR. They see workforce talent as an “underappreciated investment opportunity” and the HR function itself as an “undervalued and underpriced asset”. Pretty exciting!

As so many of us strive to play more strategic roles in our organizations, here are examples of companies and people who are already doing it. And the authors believe that most companies will need to evolve the role of HR in the same way.

As markets get more competitive, the talent shortage increases, and our workforces become more diverse (inter-generationally and culturally), HR will need to play an increasingly strategic role to support organizational success. To do that, we need automated employee performance management tools to free up our time and give us critical information and data.

I’d be interested to know what you think. Can you see yourself moving into this more strategic role in your organization?