7/28/2019 POWER Article En
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Talent Management in SMEs
In the knowledge economy of today, companies cannot gain
competitiveadvantage through only focussing on technology and
capital anymore ideas,skills and talents of well-educated employees
became the key factor ofsuccess. In order to face the new demands
of the knowledge economy and asa result to stay competitive,
companies are required to manage theiremployees in a new way. A
solution which gains more and more ofimportance is talent
management.
What is talent management? It is the ability to expertly
attract, recruit,motivate, develop and retain staff. This includes
the recognition of the currentand potential employees individual
skills and qualities useful for theorganisation with the aim to
assign the right employees to the right jobs withinthe
organisation, to save money, to create additional value and to
increasethe competitiveness.
For many industries, human capital is one of the most important
and mostcostly elements of running a successful business. In order
to control thesecosts and garner the greatest competitive advantage
from the organizationsresources, an organization needs to
bring key human capital management processes such as
PerformanceManagement, Workforce Planning, Skills Management,
Succession Planning,Recruiting, and Resource Scheduling into an
integrated whole.
Talent management forms a part of human resource
management.Traditional HR systems approach people development from
the perspective ofdeveloping competencies needed in the
organization. This can actually be arisk-prone approach, especially
for companies operating in fast evolvingindustries, since
competencies become outmoded over time and newcompetencies need to
be developed. Talent management additionally focuseson enhancing
the potential of people by developing capacities. Capacities
arethus the basic DNA of an organization and also of individual
potential.
Do you know what talent you have within the organisation, how it
is beingused and just how much extra you could achieve with it?
Does your staff know
where they fit in and what they need to learn to progress
through the companyto achieve their own goals?
POWER People on Work Empowerment Resources is a Leonardo daVinci
programme project co-funded by the European Commission. It aims
toadapt and transfer a Knowledge and Talent Management
Programdeveloped under a previous Leonardo da Vinci project
TALISMAN toSlovakia, Italy, Spain, Cyprus, Lithuania, Ireland and
Greece.
POWER is aimed at SMEs in tourism sector: accommodation
providers, travelagencies, wellness centres, etc. The existing
Knowledge and TalentManagement Program will be updated and designed
as an ICT-based self-
learning system. It will be offered in partner countries in
2012.
