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Managing talent is the key challenge for 2011, say leading HR professionals

Managing talent is the key challenge for 2011, say leading HR professionals
HR needs to be more innovative in its management of talent, according to UK HR professionals. A more strategic approach is needed, in order to both retain and attract talent. By being more effective at identifying and managing talent, organisations will build a strong foundation for future development.
This was the opinion expressed by top HR professionals , when they came together to discuss the future of the profession in a series of roundtable events held by specialist recruiters Badenoch & Clark, in association with HR Business Network. Almost half (46%) of attendees listed talent management and employee retention as one of their top priorities for 2011.
Talent management goes much further than remuneration. New challenges, exposure to other areas of the business and recognition are all valuable tools in developing and retaining employees. Clearer processes around new talent and set talent development strategies need to be in place in order to ensure that an organisation can get the most out of its workforce and retain key personnel. 
HR departments must also look beyond the top 10% of talent and recognise that the wider talent pool has potential to feed into the top level in the future. Organisations need to be realistic with their talent and avoid creating heroes. 
Heidi Waddington, Associate Director at Badenoch & Clark said: It was clear from our series of events, which were attended by a select group of senior HR professionals across the country, that talent management will be a key focus for 2011.
Developing talent needs to be done in the right way. Firstly it must be identified. All too often insecure line managers will feel threatened by emerging talent and inhibit its development. By ensuring that the right structures are in place, an organisation can avoid this. A high performer tends to know their own value and will look for other opportunities if it is not recognised by senior management.
The role of the HR department has never been more important than it currently is, as many organisations evolve in order to emerge out of the economic downturn in a strong position. People across the world of business are beginning to recognise that effective HR practices shape an organisation and have a very real impact on the bottom line.


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