Talent Management is the process of defining future leadership requirements in terms of critical roles and competencies for the future success of the business, and:
Academic Health Science Centres have a long history of developing individuals as it relates to their academic and clinical competencies and achievement. This is done through formal and informal education, role modeling and formal mentorship in addition to other initiatives. Until recent years, leadership was often assumed by individuals toward the end of their careers or by individuals who were accomplished in other academic areas such as research or education. There was some underlying assumption that if a person was accomplished in one area that they would naturally be a good leader. There are many examples of excellent leaders who came to leadership in this manner in the past.
In recent years there is recognition that leadership can be taught and learned and that the principles of best practice apply to leadership as they do to clinical care, teaching and research. There is also increasing evidence that developing leadership talent within an organization(s) strengthens the ability of the organization(s) to achieve their strategic goals. Planned and purposeful leadership development has been achieved in other industries and is now being used in health care. This is called Talent Management in the literature.
(Kernaghan, G., Talent Management Strategy for LHSC and St. Joseph's Credentialed Professional Staff and the Schulich Clinical Faculty, 2010).