I've previously shared some of my ideas on the opportunities for innovating reward, pulled from the ATD Handbook on Talent Management. Here's why we need this innovation:
The emergence of talent development as a new, more evolved form of training and development reinforces the scale of transformation that has been underway within this area of talent management.
New insights from neuroscience and behavioural economics and new technologies including social, mobile and cloud are just some of the drivers leading to a new focus on creating an environment in which talent can develop.
Looking back at the focus on delivering training ten or even five years ago and comparing this to the type of activities talent developers will be undertaking in another ten years time (learning app designer, content curator, community manager etc) it is clear this has been a revolution, not just an iterative improvement.
Other areas of talent management reviewed within this book have been through similar levels of change.
Recruitment / talent acquisition is probably the most obvious example and the shift in focus from recruitment advertising to sourcing, employer branding and external talent communities has been just as radical as the change in the talent development space.
But most other areas have or are now seeing a similarly transformational scale of change.
But what about reward (meaning the topic and activity relating to compensating and engaging people through monetary and other exchanges)?
Well, although there is a lot of talk about the new pay, as yet, there is not that much difference between the new and the old!
(I like this World at Work article on the New New Pay too.)
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