Business executives have consistently identified talent management as a critical success factor, but few support this perception in their day-to-day actions. Talent management and related tasks are often at the bottom of every to-do list. 

You can also look for early career talent management programs.

Talent Management vs. Performance Management

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The problem, however, is that talent management is an important task for every business leader as well. Identifying, organizing, managing talent is critical to employee engagement, effective resource management, and most importantly, business success.

This strategy does not require complicated software or expensive incentive programs. To put talent management at the top of the priority list, executives can do the following:

Identify needs. It sounds simple and somewhat plausible, but sadly it's not. Executives need to take the time (or more) to determine what their talent needs now and in the future. It is difficult to achieve a target when it is unclear and uncertain.

Focus on the best performers. It's amazing how much of the business resources are devoted to the lowest 20% of employees rather than the best contractors, which should be the company's top priority.

Develop the necessary skills. Each position requires specific competencies for this role to be carried out effectively. Business leaders need to define what they are and make sure they belong to the right people.

Do an alignment check. By the time the practices suggested above have been fully implemented, the business objectives should have been met. However, it is not uncommon for systems to accidentally conflict with each other or inadvertently encourage violations.