Building Knowledge Assets for Competitive Advantage
Edited by Vlad Vaiman and Charles M. Vance
Chapter 1: Smart Talent Management: On the Powerful Amalgamation of Talent Management and Knowledge Management
Charles M. Vance and Vlad Vaiman One innovation that forever changed our world was the discovery of the dramatically new strength of materials obtained from the admixture of carbon and iron—resulting in steel. Both elements alone have their limitations in terms of material strength, but their unique characteristics in combination resulted in tremendous power that enabled the construction of our industrialized and post-industrialized worlds. We believe that in much the same way the useful concepts of talent management (TM) and knowledge management (KM) can be combined to form a powerful conceptual amalgamation contributing to an organization’s success in our competitive global marketplace. For want of a more precise and scientiﬁc label, we call this combination simply ‘smart talent management.’ We hope that this book will prompt further examination of the beneﬁts of this combined focus on talent and knowledge management, including the development of useful deﬁnitions. But in this early stage we deﬁne our concept of smart talent management as the combined use of the distinctly diﬀerent concepts of knowledge management and talent management to resolve human performance problems and to achieve organizational objectives. Our little play on words refers not to the eﬀective management of only the top performers (i.e., the smart employees), but to the eﬀective/smart integration of knowledge management (i.e., the ‘smarts’) into the paradigm. Smart talent management means the smart or eﬀective management of all human resources, who embody an organization’s knowledge capital and capability in generating,...