What are the key components for developing talent strategy?

As a leader we should know the existing workforce strengths and weakness. When the talent acquisition leader has this information he can more effectively develop a recruitment strategy. This brings efficiency to the talent planning process and facilitates the movement of talent throughout the organization to meet the needs of employees and businesses. Recruiters should always be informed by the internal gaps and talent plans to make smarter investments and decisions when pursuing new talent.

What is required is strategy based on individual strengths and focusing on that :

Principle 1: concentration of forces on the potential strength, the reduction of fragmentation
Concentration is the condensation of energy. Explain what you do best and what you can offer your audience the greatest benefit. Find a "niche" in which your strengths are more likely to take, so to speak, They develop a "leader". Be different than others - you build from your strengths.

Principle 2 Find: The most effective point
Explain what are the greatest and most urgent problems of your target group or partner. For these specific problems, offer solutions. Demand is not the average power in as many areas, but the peak power on your specialty. Enroll yourself as a "professional" and not as Bauchladen dealer.

Principle 3: The Minimumfator (congestion) are                                                             Clarify what needs to be done to solve the problem of your targeted audience. What is the deciding factor ? How justified are the bottleneck?
But they also clarifying what is your own constraining factor. What prevents you personally in your growth?

Principle 4: benefit orientation rather than profit maximization
In the foreground of your thinking and action should have the benefit that you want to offer others. " "Anyone who increases the benefit of others, even gaining the most."
What is the basic and the additional benefits you offer your audience, your partners? what you offer compared to others? If you want to make money, you have to serve first.

Please feel free to contact me for any guidance, help and support at any time in future !

As Kriti has already said, one should realise his hidden talents. To add with her, I would like to say, after recognising one's hidden talents, he should know how and when to apply them at proper place and at proper time in proper quantity. Being present and applying talents at proper time is the main key to success.

Talent development at later age especialy at work is a difficult proposition. It must start at the Academic level. Even Adam Smith narrates about why Universities were created in the first place, it was to transfer skills from skilled Lborers to unskilled students. Those days capitalists investment class found it difficult to get the right talented employees. So they allowed those who already was in their organization to impart skills to those youngsters who sought skills for a fee ofcourse. This later on turned into Universities in a bigger way.

There must be more practical projects in Academic curricula, larger Libraries and reference sections which is lacking here in India. There must be adequate supervision for each individuals growth in skill development and degrees must be presented only to those who acquire certain threshold of skills in ones chosen field.

One of the best way to develop talent strategy is to adopt Google's model of allowing employee to use 20% of their time for any actiivty as per their liking. This has really provided benefit to google by way of continuous innovation of technologies/product.

I think every company should adopt this kind of strategy, this way employer comes to know about employees liking and their creativity and accordingly develop the pool of talented executive and distribute/use them accordingly.

I believe clarity around workforce structure guides the organization to shape the talent today and in the future.  Which roles need to sit in a specific geographic location and where do you have flexibility to pursue the best talent regardless of location? When do you build and when do you “buy” talent?  For which functional areas and roles do you have a recruiting core competency and where will you outsource recruitment to a third-party? These are just a few of the key questions that should be asked in developing a talent plan to guide recruitment.

keep employees continuously meaningfully engaged in challenging futuristic innovative project studies and implementation in teams giving opportunity for leadership development and creativity supplemented with knowledge management  - thus achieving talent management bottom-up and top-down thus creating viable strategic learning organisations binding the people to the organisation through opportunities for self-actualisation and offering them continous meaningful personal growth in work-life enjoying work in strategic teams, well appreciated and rewarded meaningfully for strategic results.

regards,

kshantaram