Defining and Identifying Talent
At the foundation of succession management is the definition and identification of talent — what it looks like, who has it, who needs to develop it, and how it can be best developed. The challenge in these endeavors is defining what the term “talent” means in light of a com- pany’s needs, as well as how to assess that talent. Historically, performance outcomes were the simplest way to determine who had talent and who did not — those with the best current performance were deemed to be talented.
Time and experience, however, have taught organiza- tions that the positions employees might attain in the future can require talents those employees simply do not possess. As a result, companies also look to assess a person’s potential for advancement and development. One area of particular interest to most organizations is leadership; as a result, more and more companies factor leadership competencies into their assessments.
Alignment between competency models, corporate performance objectives, and employees is a key charac- teristic of effectiveness in a succession management process.