The Book
"Strategic Talent Management"
Book publisher by Beltz, May 2017, DE 69445 Weinheim
Authors: Gerd Loeffler, Sibylle Nagler
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Book summary:
Innovative companies grow fast and therefore permanently require the right and suitable employees. However, solid medium-sized companies in rural regions are facing the question "where are the suitably qualified employees that I need?" The book gives answers to this question. The authors of the book present a practical and feasible concept for talent management in seven steps by using the example of two companies of how successful this can be implemented.
The benefit:
Executives, managers and human resources managers can identify talents from within their own company, fill key positions and introduce an efficient succession planning. In the same manner and using an example of a company, the book also shows how a one area for a new strategy can find suitable talents and develop them. The book does not only describe success stories but also outlines how a project fails.
Gerd Löffler worked on the book project together with his long time work colleague Sibylle Nagler. In 2008, they founded the consulting company www.diepartner.info (headquarter in Munich). The main focus is on "strategic talent management" projects.
Prof. Dr Raphael Verstege (HR Management and Vocational Education) at the Nuremberg Institute of Technology writes in the preface:
The German economy’s ‘engine’ are small and middle-sized companies. The so-called KMUs account for 99% of all companies in Germany. But exactly these companies are increasingly facing problems finding and retaining qualified employees. For this reason they invest a lot of money in further training and education of their employees – on average 1000 Euro per person each year.
Unfortunately, only a few KMUs engage with strategic talent management – raising the question of the accuracy of the fit of person and job relating to current and future challenges, which is critical to success. Also the question about which tasks and responsibilities of the company should be learnt by whom so that he/she is later able to take on the responsibility of challenging and demanding tasks, is discussed too rarely. Without consequently analysing and answering this question, some investments for further training and education remain without the hoped-for profit. It would be a lot more successful and efficient if the search for high-potentials were to be done under the own roof instead of often relying on random training and time-consuming recruitment.
The book looks precisely into these questions and offers much evidence on how to practically develop and implement strategic talent management in middle-sized companies. It aims equally at executives and people in charge of Human Resources who want to make their companies interesting for young applicants and qualified workers through exploring, promoting and retaining hidden talents.
The authors successfully manage to clarify the importance of a change in attitude especially within management and management executives, without the change it is not possible to implement strategic talent management. Ultimately, it is about an integrated concept that shapes the company culture: the managers turn into talent managers and to “explorers” of their high potentials. The employees themselves are encouraged to explore their own talents and develop them in a sustainable way.
In my view, the book provides valuable thought-provoking impulses and good, practice orientated assistance for all companies that want to be involved with this topic. Those who start from the beginning will find a structured path in the seven steps and also a guideline through the defined success criteria for an introduction in the topic. Those who already possess a higher degree of maturity in talent management can assess their previous approaches or find new methods for them.
I wish all interested individuals valuable insights when reading this book and also success in implementing strategic talent management.
Prof. Dr Raphael Verstege
HR Management and Vocational Education,
Nuremberg Institute of Technology