I’ve been working in the construction and property industry for some time now and it got me thinking about effective talent management being similar to the creation of a safe, sturdy building that is fit for its intended purpose and lasts well into the future.

A building with no foundations will not be a building for long, foundations with no building will never fulfil the ultimate purpose and will lay dormant with no impact (apart from looking ugly and wasting money).

The same applies to any talent strategy: it needs depth, purpose, a solid foundation and a measurable impact or it will fall apart.

Sometimes the value of talent management is underestimated but when it works well people feel engaged with their employer and its brand, they feel valued for their contribution and they are given space to grow. With people being the biggest asset we have, surely talent management is critical.

Thinking about it another way, huge business catastrophes have taken place when people potential is focussed in the wrong way. Sure there are other elements that come into play but the way people feel about their employer, the way they are developed, how they are rewarded, the culture and values that underpin the business has an impact on actions.

The event that springs to mind for me is Nick Leeson and the fall of Barings. I was only a child at the time but my dad worked there and I distinctly remember the news, the one man taking down a bank. Did this have to happen? Could this be an example of mismanaged talent? How was his ego allowed to get out of control? Why did he feel untouchable?

I’m a people person and love working to help people to achieve their potential but I also believe that what I and other talent professionals contribute has a tangible business impact. We ensure the value of people is placed equally alongside the value of profit and in my opinion one can’t exist without the other.