Rosario Longo

Organizational success depends on several factors, some of which may actually be controlled by employers, others which definitely are beyond their control in that related to the external environment and influenced by human perceptions. In order for employers to attain sustainable competitive edge, therefore, they should not only constantly assess and review their ability to stay competitive, but also unrelentingly scan the external environment. The former activity - after all, would be sorely pointless if disconnected from the latter.

The expression "war for talent" was coined in 1997 by Steven Hankin, to convey how hard it was for the employers of the most advanced economies to attract and retain talented individuals by reason of labour markets stiff competition. Talent management emerged thus as a crucial component of HR strategy and practices, increasingly attracting HR professionals attention. Developing Talent Management practices, nevertheless, does by no means entail formulating on paper "nice to have" policies, just to show CEOs that the company's HR practices are up to date and in line with those of the largest corporations. Do not having crystal clear the whys and wherefores of the talent management practices introduced into an organization, would just take employers nowhere and jeopardize the significant strategic role played by HR. The ultimate purpose of Talent Management is enable employers to invariably have the right people, in the right place, at the right time to effectually pursue their strategy and withstand the challenges posed by the ever-changing external environment. Talent Management should not be hence perceived by Managers and, worse still, CEOs as a "yet another HR thing," but rather as a tangible, effective HR strategic contribution to the attainment of organizational success. As such, Talent Management should help to make, rather than break the strategic role played by HR. The practical implications of wisely and accurately designed Talent Management practices should essentially be twofold:  Ensure organizations can bank on a strong succession plan, enabling employers to constantly be in a position to replace key role holders in case of their departure;  Make certain employees gain the skills, competencies and expertise not necessarily crucial to lead in the present, which will be indispensable to lead, and create and maintain competitive advantage in the future. These objectives can essentially be regarded as the two sides of the same coin. Their simultaneous, combined attainment would enable employers to bank on the right people, in the right place, at the right time, despite the disruptive influence relentlessly exerted by the external environment, taking heed of the likely future developments.