Talent management: Towards a more inclusive understanding

Talent management is an organization’s line of life: It is of vital importance to organizational viability and business success. In a majority of organizations, talent management aims at maximizing organizational profits by selectively investing in a small group of high-performing, high-potential employees (exclusive approach). In recent years, however, interest in an alternative, more inclusive approach to talent management has been growing because broad investments in talent development across the workforce are deemed effective in enhancing overall employee well-being. While both approaches bring about certain advantages and disadvantages, inclusive talent management is a particularly timely response to pressing issues such as the overall talent scarcity, the hard-to-predict market dynamics, and the trend towards more inclusive human resource management.