Developing sophisticated talent strategies
Most companies have a better understanding of their product market strategy than their labour market strategy
The first frontier for HR is to develop talent management strategies that are just as sophisticated and precise as their companies’ product market strategies in terms of their value proposition, employee profile, and internal organisation.
If done well such a sophisticated HR strategy might come to form the very heart of a company’s entire business model. For example, strategy consulting company Eden McCallum offers a service that is not all that different from other consulting companies, but its talent management strategy – based on operating a pool of freelancers – is unique, giving it a competitive advantage in the labour market. More organisations may find that competitive advantage can be found in the market for employees rather than in their product markets.
The full HR Magazine article is available at this link.