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Talent Management in Organizations

The student posted the following question:

Why are talent management, leadership, and change or renewal so critical in today's world?

To treat employees as a replaceable resource can often lead to many inefficiencies; not only in production but also costs. The cost of constantly advertising to recruit employees, along with training them, can be high. Organizations are better served to attract and retain their top performers. This solution is over 200 words and provides examples, from the organizational field of real estate sales, in showcasing why talent management is imperative for organizational success.

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Talent management is critical for an organization to retain its top producers. The real estate market is constantly changing; foreclosures, short sales and more stringent lending requirements are prominent trends in the past several years. To constantly have to train new Realtors in these areas is detrimental to having an efficient sales force. In this particular industry, there can also be significant legal implications if the wrong information is relayed between buyer and seller. ...

Solution Summary

The cost of employee turnover can be significant, retaining top talent should be a high priority. To attract and retain top talent, leadership and change play significant roles in whether employees stay or go.