The 6 core threats in talent management and how to address them.

How innovative companies change the way they look at talent.

CT4 A9745

Borek Boelens

26 Aug 2022
2 minutes
26 Aug 2022
2 minutes

Globally, companies are in distress. On the one hand, media keeps reporting on a doomsday recession, announcing an economic slow-down that could bring the economy to a complete stop. On the other, companies fight over talent and need to increase their workforce investments. There are too many talent challenges to count, each vicious enough to extinguish a company's existence.

Here are six threats that frequently impact talent management today:

  • War for talent - organisations don’t find critical talent in the labour market

  • Internal availability - companies lack existing critical skills inside their workforce

  • Retention - people with critical skills/competencies leave the company

  • Retirement - employees with critical skills retire and have no succession (especially in Western countries)

  • Internal mobility - high-performers leave the organisation due to a lack of internal career opportunities

  • Development - not enough employees develop critical skills to meet current/future needs

6 core threats of talent management

These core talent challenges affect companies and industries harder than ever before. More and more companies and industries are redefining their activities. In this transformation, HR terms like reskilling, career mobility, and talent retention… have become C-level topics.

Executives and management are trying to reset existing processes and address talent threats. Companies often attempt to tackle these hazards at the organisational or departmental level. But basing themselves on role level/job title results in sturdy and slow decision-making and zero organisational flexibility.

With the definition of work changing so quickly, innovators need to look at the most granular level of talent available - skills & competencies - to assess and address talent threats. Skills-based working is the foundation for organisational agility: managing your talent based on dynamic skills, rather than static job titles.

Sure, these are challenging times. We all have new challenges to face. But maintaining the status quo for talent management will not keep our organisations alive forever. We need to start looking deeper to deal with talent challenges in our companies effectively.

CT4 A9745

Borek Boelens

Digital Marketer

More stories

  • Meeting 00008 Read more
    event
    Read more

    This was... SKILLS /by TechWolf!

    Read more

    The second edition of TechWolf's flagship event couldn't have come at a better time. More than ever it is clear that People Leaders are elevating the HR function to boldly go where no 'personnel department' has gone before. There were drinks, there were talks, there were 25 CHROs and HR Leaders sharing insights and challenges. Watch the video to feel the vibe, read the Event Report for the details.

  • Thumbnails blog Read more
    Read more

    World Economic Forum Recognises TechWolf as Technology Pioneer

    Read more

    The World Economic Forum, the annual gathering of influential CEOs, politicians and journalists that convened in Davos last week, announced its selection of the 100 most promising Technology Pioneers of 2022: companies tackling issues from sustainability and climate change to healthcare and more.

  • Tech Wolf Founders Read more
    Read more

    Press release: TechWolf raises €10 million in a Series A round to build the intelligence layer for skills

    Read more

    GHENT, BELGIUM, May 10, 2022 -- TechWolf, the AI technology startup building the world's foremost platform for large companies to leverage their workforce's skills, has raised €10 million in Series A funding from prominent international investors. The round was led by Stride.VC, with participation from Fortino Capital, Acadian Ventures, PMV and existing investors. TechWolf will use the funds to execute on its ambitious go-to-market strategy, ramp up international expansion and continue investing heavily in R&D.

Learn more about TechWolf

Skills Intelligence

How can we help you identify the skills in your company without manual input?

A solution for your organisation

Ready to see how TechWolf can help you future-proof your business strategy?