The Future Of Talent Management
The GCC region has complex demographics that include local talent, imported talent, and talent that is returning from abroad. Because of these unique talent pools, establishing a robust talent management strategy is key to the success of any business.
Recruitment And Attraction
Selecting the right talent sets the foundation for the entire employee lifecycle. One of the most popular methods to attract talent among regional employers is financial benefits. However, this is neither effective nor sustainable. In fact, once salaries reach a level where living conditions are comfortable, as is the case across the GCC, money is no longer the main factor considered when selecting a job. Inflated salaries and monetary rewards do at times drive candidates to compromise on other factors, but this leads to achieving unsustainable, short term objectives for both the employee and the business.
In addition, the fact that a large percentage of the talent pool is initially located abroad increases the potential for recruiting errors as the organisation and the candidate do not have the chance to meet in person prior to the offer of employment.
Talent Management And Retention
Once selected, there are a few challenges with retaining expatriate talent since they eventually want to return home. This trend prevents organisations from investing in and developing their employees’ skills and capabilities.
A different approach should be taken in order for talent management to reach its full potential.
- First, talent management should be planned in alignment with the overall business strategy, making talent a core part of the business. However, this requires collaboration between the HR and senior leaders of the organisation.
- In addition, strategy should revolve around how it can be successfully implemented, in terms of communication, accountability, skills, alignment, and measurement, rather than what should be achieved like executive resource boards and development plans.
- More importantly, it should be recognised across the organisation that software and technology cannot replace talent itself.
The above article is an excerpt from the Talent Management Report 2015 published by The HR observer and Informa Middle East.
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