The Inception of Chief Talent Officer

The war for talent that began in the ’90s is getting even fiercer as time goes by. Businesses all around the world are competing for the best talent in their industry and with the labor market getting tighter & tighter by the second, this rivalry is getting even more ferocious.

The soaring need for a Chief Talent Officer

Organizations are sparing no effort to up their game when it comes to constructing an exceptionally effective talent management strategy. In order to attract dexterous talent, they are exploring their inner talent management competencies and upgrading it with the introduction of a Chief Talent Officer position.

Looking at the cutthroat competition that organizations have to bear to grab laborious, proficient professionals for filling crucial positions, it was high time that the C-suite needed a new addition which finally came in the form of a Chief Talent Officer. The person who holds this position is responsible to look over each and every facet of human resources. From handling recruitment teams to employee engagement to succession planning, there is not even one element regarding personnel that is not managed by the Chief Talent Officer.

The Role of Chief Talent Officer

The conventional approaches to handling talent need to be revamped as a result of altering talent scenery and the emergence of complex technology. A multitude of companies do not have a succession plan in place. As a matter of fact, professionals are not completely ready to climb up the corporate ladder ¬¬-and take over senior positions in the workplace. There is a competency gap due to the absence of leadership skills that are required in people to reach high-level positions. Therefore, it is an apt timing for Chief Talent Officers to take the initiative of developing capable leadership for the future generations by fostering transparency along with communication, a rock solid employee value proposition together with diversity & inclusion.

Chief Talent Officers should review important values when they are communicating with the company’s talent pools in order to give rise to a transparent culture. Contemporary approaches to talent management may need the leaders of the organization to alter and refine their basic mindset along with cultural values regarding:

• Work-life balance.

• Encouraging the leaders to design their own unique leadership style.

• Offering suitable opportunities to employees for career development.

• Developing initiatives that are driven by the latest technology.

The demand for competent leaders is rising by the minute, while its supply is next to minimal. Competitor companies are able to match up with the compensation & benefits along with crafting strategies for enticing and retaining top talent. So fundamentally, a Chief Talent Officer is handed over the responsibility of discovering new ways to recognize the employees by coming up with new ideas to provide them with perks as per the organization’s culture and creating a powerful employer brand.

The Chief Talent Officers should have an aptitude to evaluate the leadership gaps in the company and develop opportunities for promoting diversity within the teams of senior executives.