Organisations are operating in an increasingly volatile and complex environment, fiercely competing to recruit, engage and retain talent. Effective talent management strategies are crucial to enable business success. The role of HR in embedding talent management into business strategy has never been more important (CIPD 2014).
Talent management must be portrayed as a differentiating strategic capability that can offer real and substantial competitive advantage. To achieve this, talent must be managed to be:
- Rare
- Valuable
- Inimitable
- Non-substitutable (Barney 1991)