Magazine article Workforce Management

What Is 'Talent'?

Magazine article Workforce Management

What Is 'Talent'?

Article excerpt

Job growth is slow and workers are plentiful, but real "talent" is in dangerously short supply, and few companies are prepared to manage what they have.

DATA BANK | Research & analysis by Fay Hansen

ALTHOUGH SOME commentators continue to use "talent" as a synonym for a company's entire workforce, a new Towers Perrin survey of senior HR executives shows that they use the term to identify the core group of leaders and key contributors who drive the business forward. These defined talent pools make up, on average, no more than 15 percent of the total workforce.

The supply chain for true talent is thin and fragile and dangerously dependent on education and immigration policy at the federal level. The unemployment rate for managers and professionals stands at a scant 1.7 percent. Companies cannot afford turnover in the top 15 percent segment.

A growing differentiation in HR practices reflects the adequate supply , of workers to fill most positions and the severe shortage of true talent. …

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