The 6 core threats in talent management and how to address them.

How innovative companies change the way they look at talent.

Globally, companies are in distress. On the one hand, media keeps reporting on a doomsday recession, announcing an economic slow-down that could bring the economy to a complete stop. On the other, companies fight over talent and need to increase their workforce investments. There are too many talent challenges to count, each vicious enough to extinguish a company's existence.

Here are six threats that frequently impact talent management today:

  • War for talent - organisations don’t find critical talent in the labour market

  • Internal availability - companies lack existing critical skills inside their workforce

  • Retention - people with critical skills/competencies leave the company

  • Retirement - employees with critical skills retire and have no succession (especially in Western countries)

  • Internal mobility - high-performers leave the organisation due to a lack of internal career opportunities

  • Development - not enough employees develop critical skills to meet current/future needs

6 core threats of talent management

These core talent challenges affect companies and industries harder than ever before. More and more companies and industries are redefining their activities. In this transformation, HR terms like reskilling, career mobility, and talent retention… have become C-level topics.

Executives and management are trying to reset existing processes and address talent threats. Companies often attempt to tackle these hazards at the organisational or departmental level. But basing themselves on role level/job title results in sturdy and slow decision-making and zero organisational flexibility.

With the definition of work changing so quickly, innovators need to look at the most granular level of talent available - skills & competencies - to assess and address talent threats. Skills-based working is the foundation for organisational agility: managing your talent based on dynamic skills, rather than static job titles.

Sure, these are challenging times. We all have new challenges to face. But maintaining the status quo for talent management will not keep our organisations alive forever. We need to start looking deeper to deal with talent challenges in our companies effectively.

More stories

  • 0476abdf 26a2 4349 bd93 f3b6b0a0dfbc Read more
    TechWolf Tales
    Read more

    Career mobility at TechWolf

    Read more

    Ophélie, initially a Sales Associate, transitioned into a new role in sales operations at TechWolf due to her analytical skills and passion. She now leverages her expertise in operations, processes, and data to support both sales and revenue operations, aligning with the company's commitment to tailored career development.

    CT4 A8002

    Eniko Toth-Bagi

    07 Sep 2023
    2 minutes
    07 Sep 2023
    2 minutes
  • CT4 A8678 1 Read more
    TechWolf Tales
    Read more

    The power of a Chrome plugin

    Read more

    Our Lead Researcher, JJ, recently developed a Chrome plugin for LinkedIn and JIRA to make it even easier for our Skill Engine API to infer Skill Data from new sources. Read more about JJ’s journey and how he’s always looking at new ways to innovate at TechWolf, here.

    CT4 A8002

    Eniko Toth-Bagi

    07 Sep 2023
    2 minutes
    07 Sep 2023
    2 minutes
  • Adobe Stock 245956488 Read more
    skills-based organisation
    Read more

    The role of AI in creating – and maintaining – a skill framework

    Read more

    AI is fast becoming an integral part of our everyday lives, from smart home devices to navigation systems or online banking. It’s also becoming a vital component in HR and learning, doing the heavy lifting when it comes to compiling, analysing and aggregating the myriad of data sources within an organisation.

    In our latest TechWolf blog we examine how AI can help create a strong skill framework that is tailored, comprehensive and dynamic to fit the needs of your business now, and in the future.

    Jonathan

    Andreas De Neve

    27 Jul 2023
    3 minutes
    27 Jul 2023
    3 minutes

Learn more about TechWolf

Skills Intelligence

How can we help you identify the skills in your company without manual input?

A solution for your organisation

Ready to see how TechWolf can help you future-proof your business strategy?