How is Employee Talent Management Industry different?

Talent Management is the new buzzword in US companies which are facing shortage of talent: aging population, talent scarcity at top, need to grow internal talent, all contribute to this need. This newly defined industry has 4 components: recruitment management system, learning management system, performance management system, and compensation management system, read this link for more details of this industry:

Natural question comes up: Is this same as Individual career management? In my opinion, answer is no. The reason is that while consumer in an employee talent management industry is a corporation which wishes to track and aggregate talent profiles of employees to solve some talent needs, in case of individual career management, however, it is the individual, and there is no aggregation involved. This means that workflows and use cases (that rely on aggregation) will be very different in these two industries, even though they may start off same skills inventory. This is not to say that they are not similar, and there will be some synergy between these two, but only when both of these are matured. For example, an important question answered by Employee Talent Management softwares is: how to manage and plan succession. This requires access to skills inventory of relevant employees. Aggregation and analysis of entire skills data is an important part of such a feature. However, this doesn’t belong to individual career management industry, where an important question might be: how can I succeed in getting a job that is aligned with the jobs I have been taking so far and strengths I have been displaying.

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