Talent management involves identifying and developing high potential individuals within an organization. Implementing an effective talent management strategy can increase a company's profits by $70-160 million over two to three years. There are three keys to 21st century talent management: defining talent as all human capital, identifying high potentials to accelerate their careers, and focusing on business critical roles. An effective new approach to talent management makes it difficult to join the program but provides incentives for participants to succeed and develop their skills.
4. The prize A 10-point increase in an average Fortune 500 company's talent quotient score will add between US$70 million and US$160 million to the firm's bottom line over the next two to three years. Hewitt Associates.
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